Notice of Internet Availability



		Meeting Information
		Meeting Type: Annual Meeting
		For holders as of: September 19, 2011
		Date: November 17, 2011 Time: 9:00 AM CST
		Location: Renaissance Tower
		1201 Elm Street
		Suite 4200
		Dallas, Texas 75270

		You are receiving this communication because you hold shares in the above named company.

		This is not a ballot. You cannot use this notice to vote these shares. This communication presents only an overview of the more complete proxy materials that are available to you on the Internet. You may view the proxy materials online at www.proxyvote.com or easily request a paper copy (see reverse side).





		We encourage you to access and review all of the important information contained in the proxy materials before voting.

		See the reverse side of this notice to obtain proxy materials and voting instructions.


		— Before You Vote — How to Access the Proxy Materials

		Proxy Materials Available to VIEW or RECEIVE: 1. Notice & Proxy Statement 2. Annual Report How to View Online: Have the information that is printed in the box marked by the arrow (located on the following page) and visit: www.proxyvote.com. How to Request and Receive a PAPER or E-MAIL Copy: If you want to receive a paper or e-mail copy of these documents, you must request one. There is NO charge for requesting a copy. Please choose one of the following methods to make your request:
		1) BY INTERNET:		www.proxyvote.com
		2) BY TELEPHONE:		1-800-579-1639
		3) BY E-MAIL*:		sendmaterial@proxyvote.com
		* If requesting materials by e-mail, please send a blank e-mail with the information that is printed in the box marked by the arrow (located on the following page) in the subject line.
		Requests, instructions and other inquiries sent to this e-mail address will NOT be forwarded to your investment advisor. Please make the request as instructed above on or before November 03, 2011 to facilitate timely delivery.
		— How To Vote — Please Choose One of the Following Voting Methods

		Vote In Person: Many shareholder meetings have attendance requirements including, but not limited to, the possession of an attendance ticket issued by the entity holding the meeting. Please check the meeting materials for any special requirements for meeting attendance. At the meeting, you will need to request a ballot to vote these shares.
		Vote By Internet: To vote now by Internet, go to www.proxyvote.com. Have the information that is printed in the box marked by the arrow available and follow the instructions. Vote By Mail: You can vote by mail by requesting a paper copy of the materials, which will include a proxy card.


¨	Preliminary Proxy Statement

¨	Confidential, for Use by the Commission Only (as permitted by Rule 14a-6(e)(2))

¨	Definitive Proxy Statement

x	Definitive Additional Materials

¨	Soliciting Material Pursuant to Section 240.14a-12

SWS Group, Inc.
(Name of Registrant as Specified In Its Charter)


(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

x	No fee required.

¨	Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

	(1)	Title of each class of securities to which the transaction applies:

	(2)	Aggregate number of securities to which the transaction applies:

	(3)	Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined):

	(4)	Proposed maximum aggregate value of transaction:

	(5)	Total fee paid:




¨	Fee paid previously with preliminary materials.

¨	Check box if any part of the fee is offset as provided by the Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

	(1)	Amount Previously Paid:

	(2)	Form, Schedule or Registration Statement No.:

	(3)	Filing Party:

	(4)	Date Filed:



		*SWS GROUP INC.*

		SWS GROUP INC.
		ATTN: ALLEN R. TUBB, SECRETARY
		1201 ELM STREET, STE 3500
		DALLAS, TX 75270


		Voting items
		The Board of Directors recommends you vote
		FOR the following:

		1. Election of Directors
		Nominees
		01 Robert A. Buchholz 02 Brodie L. Cobb 03 J. Taylor Crandall 04 Gerald J. Ford 05 Larry A. Jobe
		06 Frederick R. Meyer 07 Dr. Mike Moses 08 James H. Ross 09 Joel T. Williams III

		The Board of Directors recommends you vote FOR proposals 2 and 3.



		2		The ratification of the selection of Grant Thornton LLP as the company’s independent auditor for the fiscal year ending June 29, 2012.

		3		Advisory vote on executive compensation.

		The Board of Directors recommends you vote 3 YEARS on the following proposal:

		4		Advisory vote on the frequency of holding future advisory votes on executive compensation.

		NOTE: Such other business as may properly come before the meeting or any adjournment thereof.