Sanders Morris Harris Group Announces Quarterly Dividend

HOUSTON, June 16 /PRNewswire-FirstCall/ -- Sanders Morris Harris Group Inc.
(Nasdaq: SMHG) today announced that its Board of Directors declared a regular
quarterly cash dividend in the amount of $0.045 per share of common stock.
The dividend will be payable on July 15, 2009, to common shareholders of
record at the close of business on July 1, 2009.

While Sanders Morris Harris Group intends to declare dividends in subsequent
quarters, any future dividends will be at the discretion of the Board of
Directors after taking into account various factors, including general
economic and business conditions, tax considerations, its strategic plans, its
financial results and condition, its expansion plans, any contractual, legal
or regulatory restrictions on the payment of dividends, and such other factors
the Board considers relevant.

Sanders Morris Harris Group is a wealth/asset management company that manages
approximately $8.6 billion in client assets. Client assets include the gross
value of assets under management directly or via outside managers and assets
held in brokerage accounts for clients by outside clearing firms. Its
corporate philosophy of investment in common aligns its interests with those
of its clients. Sanders Morris Harris Group has more than 600 employees in 21
states. Additional information is available at www.smhgroup.com.

In addition to the historical information, this press release contains certain
forward-looking statements under federal securities laws, including statements
regarding Sanders Morris Harris Group's expected future business prospects,
revenue and income. These forward-looking statements are based upon current
expectations and involve certain risks and uncertainties that could cause
actual results to differ materially from any such statement. These risks and
uncertainties, many of which are beyond the Company's control, include, but
are not limited to (1) trading volume in the securities markets; (2)
volatility of the securities markets and interest rates; (3) changes in
regulatory requirements that could affect the demand for the Company's
services or the cost of doing business; (4) general economic conditions, both
domestic and foreign, especially in the regions where the Company does
business; (5) changes in the rate of inflation and related impact on
securities markets; (6) competition from existing financial institutions and
other new participants in the securities markets; (7) legal developments
affecting the litigation experience of the securities industry; (8) successful
implementation of technology solutions; (9) changes in valuations of the
Company's trading and warrant portfolios resulting from mark-to-market
adjustments; (10) dependence on key personnel; (11) demand for the Company's
services; and (12) litigation and securities law liabilities. The Company does
not undertake any obligation to publicly update or revise any forward-looking
statements.

SOURCE Sanders Morris Harris Group Inc.

Rick Berry, Chief Financial Officer of Sanders Morris Harris Group Inc.,
+1-713-993-4614