Penson Worldwide, Inc. to Offer Convertible Notes

DALLAS--(Business Wire)--
Penson Worldwide, Inc. (NASDAQ:PNSN) today announced that it is planning to
offer $50 million aggregate principal amount of convertible senior notes due
2014, subject to market and other customary conditions.

Penson may sell up to an additional aggregate $10 million of notes upon exercise
of an over-allotment option that Penson expects to grant to the initial
purchasers in connection with the offering.

Upon conversion, holders will receive, at the election of Penson, cash, common
stock or a combination of cash and common stock.

Penson intends to use the net proceeds from this offering to pay down some of
its existing $70 million of corporate debt, provide ongoing working capital and
provide for other general corporate purposes.

The notes will be offered in the United States to qualified institutional buyers
pursuant to Rule 144A under the Securities Act of 1933. The notes have not been
registered under the Securities Act and may not be offered or sold in the United
States without registration or an applicable exemption from the registration
requirements.

This press release is neither an offer to sell nor the solicitation of an offer
to buy the notes or any other securities and shall not constitute an offer,
solicitation or sale in any jurisdiction in which, or to any person to whom,
such an offer, solicitation or sale is unlawful. Any offers of the notes will be
made only by means of a private offering memorandum.

Forward-Looking Statements

The statements in this news release relating to matters that are not current or
historical facts are forward-looking statements. Such forward-looking statements
are based on current plans, estimates and expectations. Forward-looking
statements are based on known and unknown risks, assumptions, uncertainties and
other factors. Penson's actual results, performance, or achievements may differ
materially from any future results, performance, or achievements expressed or
implied by such forward-looking statements. Penson undertakes no obligation to
publicly update or revise any forward-looking statement.

Penson Public Relations:
Intermarket Communications
Andy Yemma, 212-754-5450
ayemma@intermarket.com
or
Erica Fidel, 212-754-5448
efidel@intermarket.com
or
Penson Investor Relations:
Anreder & Company,
Gary Fishman, 212-532-3232
gary.fishman@anreder.com
or
Steven Anreder, 212-532-3232
steven.anreder@anreder.com

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