FXall Notice

FXALL APPOINTS GOLDMAN SACHS' CYRIL COTTU AS CHAIRMAN

12 April 2005 - FXall, the world's leading foreign exchange platform, today announced that it has appointed Cyril Cottu, executive director and co-head of FX asset sales at Goldman Sachs in London, as chairman. Cottu replaces RBS's head of e-ventures Martin Spurr in the role, which is elected annually.

Cottu has been with Goldman Sachs since 1998, and has played a major role in developing the bank's FX e-commerce strategy. He has more than 12 years' experience in the foreign exchange markets, including senior FX sales and marketing at Union Européene de CIC and Banque Paribas/Paribas Capital Markets.

About FXall

• FXall is the leading portal for online foreign exchange trading, offering customers foreign currency trade execution, access to research and straight-through processing. By combining streamlined workflow, competitive FX prices and a complete audit trail, FXall delivers improved control procedures and cost savings at every stage of the deal lifecycle.
• FXall provides customers with the ability to meet best practice guidelines proscribed by regulatory bodies - for more information visit: http://www.fxall.com/about/BestPracticeFX.pdf
• FXall is an independent company with offices in New York, London, Boston, Tokyo and Singapore.

FXall's services are not intended for, and are not available to, private customers, and are not intended for distribution into any jurisdiction where such distribution is restricted by law or regulation. FXall's services do not constitute investment advice or an advertisement, offer, or solicitation of an offer, for the purchase or sale of any investment, securities or other property, or a representation that any investment, security or other property is suitable for any person.

FXall may act through FX Alliance, LLC (a Delaware, USA limited liability company), FX Alliance Limited (regulated by the Financial Services Authority), FX Alliance International, LLC (ARBN 097 253 640, a Delaware, USA company, members' liability limited).