Merriman Curhan Ford Announces Financial Results for the First Quarter Ended March 31, 2009

Cost Cuts and Focus on Core Operations Begin to Make Impact; Revenues up 31%
Sequentially
SAN FRANCISCO--(Business Wire)--
Merriman Curhan Ford Group, Inc. (NASDAQ:MERR) today released earnings for the
first quarter 2009.

First Quarter Financial Highlights

* Total net loss for the quarter was $1.9 million, or $0.15 per share, compared
to a net loss of $7.0 million, or $0.57 per share, in first quarter 2008 and a
net loss of $4.3 million, or $0.34 per share, in fourth quarter 2008.
* Revenue from continued operations was $10.1 million, compared to $10.2 million
in first quarter 2008 and $7.7 million in fourth quarter 2008:

* Commissions revenue was $9.1 million, an 8% increase over first quarter 2008;
* Investment banking and advisory revenues were $1.8 million, a 42% decrease
over first quarter 2008; and
* Principal transactions had a loss of $843,000, compared to a loss of $1.3
million in first quarter 2008.

* Other income was $1.2 million, which represents partial proceeds from the
February 2009 announced sale of Institutional Cash Distributors, a non-core
asset.
* Compensation and benefits were $9.3 million, a 25% decrease over first quarter
2008.
* Financial condition:

* Total assets were $14.3 million, compared with $18.9 million at the end of
2008; and
* Stockholders` equity was $5.8 million, compared with $7.7 million at the end
of 2008.

"Our results are beginning to stabilize as we continue to take strong measures
toward consistent long-term profitability," said Jon Merriman, chief executive
officer of Merriman Curhan Ford. "We have made progress this quarter building
our global leadership in the OTCQX marketplace, selling non-core assets and most
importantly, adjusting our cost structure to reflect the current markets. Our
objectives are clear: resolve our legal battles; move deals more rapidly through
our banking pipeline that`s still robust; continue to keep costs low; and
strengthen our balance sheet. These initiatives will enable us to grow again
even in a very weak economic environment."

Conference Call for the First Quarter 2009 Results

Following this announcement, Merriman`s management will host a teleconference
call beginning at 2 PM (PT) / 5 PM (ET) today, Monday, May 18, 2009, to discuss
the results and related matters. Interested listeners and participants may
access the live teleconference call by dialing (877) 941-6009 or may access the
live Web broadcast at www.mcfco.com.

About Merriman Curhan Ford

Merriman Curhan Ford (NASDAQ:MERR) is a financial services firm focused on
fast-growing companies and the institutions that invest in them. The company
offers high-quality investment banking, equity research, institutional services
and corporate & venture services, and specializes in three growth industry
sectors: CleanTech, Consumer/Internet/Media and Health Care. For more
information, please go to www.mcfco.com.

Note to Investors

This press release contains certain forward-looking statements based on our
current expectations, forecasts and assumptions that involve risks and
uncertainties. Forward-looking statements in this release are based on
information available to us as of the date hereof. Our actual results may differ
materially from those stated or implied in such forward-looking statements, due
to risks and uncertainties associated with our business, which include the risk
factors disclosed in our Form 10-K/A filed on April 30, 2009. Forward-looking
statements include statements regarding our expectations, beliefs, intentions or
strategies regarding the future and can be identified by forward-looking words
such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may,"
"should," "will," and "would" or similar words. We assume no obligation to
update the information included in this press release, whether as a result of
new information, future events or otherwise. The Form 10-K/A filed on April 30,
2009, together with this press release and the financial information contained
herein, is available on our website by going to www.mcfco.com and clicking on
"Investor Relations."

This release is for information purposes only and should not be regarded as an
offer to sell or solicitation to buy the securities or other instruments of the
companies mentioned.

MERRIMAN CURHAN FORD GROUP, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

Three Months Ended
March 31,
2009 2008
Revenue:
Commissions $ 9,117,928 $ 8,468,710
Principal transactions (842,536 ) (1,315,076 )
Investment banking 1,216,417 3,376,411
Advisory and other 558,813 (318,590 )
Total revenue 10,050,622 10,211,455
Operating expenses:
Compensation and benefits 9,265,167 12,227,174
Brokerage and clearing fees 312,959 775,301
Professional services 1,112,750 794,884
Occupancy and equipment 576,390 453,413
Communications and technology 721,265 909,914
Depreciation and amortization 147,242 123,918
Travel and business development 235,124 922,001
Other 696,623 776,990
Total operating expenses 13,067,520 16,983,595
Operating loss (3,016,899 ) (6,772,140 )
Other income 1,200,000 -
Interest income 6,488 96,404
Interest expense (15,365 ) (17,768 )
Loss before provision for income tax (1,825,776 ) (6,693,504 )
Provision for income tax (3,216 ) -
Loss from continued operations (1,828,992 ) (6,693,504 )
Loss from discontinued operations (94,894 ) (356,469 )
Net loss $ (1,923,886 ) $ (7,049,973 )
Basic and diluted loss per share from continued operations $ (0.14 ) $ (0.54 )
Basic and diluted loss per share from discontinued operations $ (0.01 ) $ (0.03 )
Basic net loss per share $ (0.15 ) $ (0.57 )
Weighted average common shares outstanding:
Basic and Diluted $ 12,603,744 $ 12,289,582

The accompanying notes disclosed on Form 10-Q are an integral part of these consolidated financial statements.

MERRIMAN CURHAN FORD GROUP, INC.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(unaudited)

March 31, December 31,
2009 2008
ASSETS
Cash and cash equivalents $ 3,139,347 $ 6,358,128
Securities owned:
Marketable, at fair value 5,206,581 4,622,577
Not readily marketable, at estimated fair value 216,439 366,061
Other 75,606 185,065
Restricted cash 1,130,140 1,131,182
Due from clearing broker 1,997,344 1,752,535
Accounts receivable, net 820,623 612,234
Prepaid expenses and other assets 886,485 619,759
Equipment and fixtures, net 818,391 1,260,011
Assets held for sale - 1,958,038
Total assets $ 14,290,956 $ 18,865,590

LIABILITIES AND STOCKHOLDERS` EQUITY
Accounts payable $ 473,316 $ 712,591
Commissions and bonus payable 4,044,271 3,182,941
Accrued expenses 2,518,843 3,637,345
Due to clearing and other brokers 8,842 28,022
Securities sold, not yet purchased 231 903,217
Deferred revenue 674,871 709,691
Capital lease obligation 789,651 923,683
Liabilities held for sale - 1,052,899
Total liabilities 8,510,025 11,150,389
Commitments and contingencies
Stockholders` equity:
Preferred stock, Series A-$0.0001 par value; 2,000,000 shares authorized; 2,000,000 shares issued and 0 shares outstanding as of March 31, 2009 and December 31, 2008, respectively; aggregate liquidation preference of $0 - -
Preferred stock, Series B-$0.0001 par value; 12,500,000 shares authorized; 8,750,000 shares issued and 0 shares outstanding as of March 31, 2009 and December 31, 2008; aggregate liquidation preference of $0 - -
Preferred stock, Series C-$0.0001 par value; 14,200,000 shares authorized; 11,800,000 shares issued and 0 shares outstanding as of March 31, 2009 and December 31, 2008; aggregate liquidation preference of $0 - -
Common stock-$0.0001 par value; 300,000,000 shares authorized; 12,756,656 and 12,756,656 shares issued and 12,554,779 and 12,730,218 shares outstanding as of March 31, 2009 and December 31, 2008, respectively 1,278 1,278
Additional paid-in capital 127,282,811 127,193,195
Treasury stock (225,613 ) (125,613 )
Accumulated deficit (121,277,545 ) (119,353,659 )
Total stockholders` equity 5,780,931 7,715,201
Total liabilities and stockholders` equity $ 14,290,956 $ 18,865,590

The accompanying notes disclosed on Form 10-Q are an integral part of these consolidated financial statements.

Merriman Curhan Ford, Inc.
Peter Coleman, 415-248-5640
Chief Financial Officer
Chief Operating Officer
pcoleman@mcfco.com

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