FXall Press Release

more than 350 customers now signed for trading on fxall

FXall recognised as 'Best of the Web' in Forbes survey

New York, Tuesday 8 October 2002– FXall, the global portal for online foreign exchange trading, today announced that more than 350 customers are now signed for trading on the portal. In the month of September alone, 44 customers joined FXall - making it a record month for client take-up.

All of FXall's customers benefit from real-time prices and research from 39 fully integrated banks.

Today's announcement follows the publication of Forbes Magazine's 'Best of the Web' edition for fall 2002. In a comprehensive survey of 20 different industries, Forbes selects FXall as one of the most promising B2B companies among trading platforms.

Phil Weisberg, Chief Executive Officer of FXall, said, "The surge in take-up of FXall is being driven by benchmark functionality. Only at FXall can corporations and institutional clients alike benefit from a completely automated solution for every stage of the transaction lifecycle. It's this unique depth of automation that's being recognised by the market."

FXall has recently received a series of industry awards, including:

• Best multi-bank portal for research, for trading, and for straight through processing in the Euromoney 2002 forex poll
• Multi-bank portal of choice in Global Investor's annual survey of 384 financial institutions, March 2002
• Best multibank FX trading portal as voted by institutional voters surveyed in FX Week's "Best Banks in FX Awards 2001".

About FXall

• FXall is an electronic trading platform offering customers foreign currency trade execution, access to research and straight through processing.
• FXall was launched as a fully automated portal on 10 May, 2001. FXall's comprehensive functionality includes easy multi-bank access, portfolio management tools that enable execution of entire portfolios of trade, leading quality research and analysis available through a single sign-on, and 24-hour access to a multi-lingual support center.
• In the past year FXall has won the following awards:
• June 2002 – ranked number one in Global Investor's e-Forex Road Test of FX platforms by 5 leading asset managers.
• May 2002 – voted best overall multi-bank portal for research, for trading, and for straight through processing in the "Euromoney Forex Poll 2002".
• March 2002 – ranked number one multibank portal by Global Investor’s “Foreign Exchange Survey 2002”.
• December 2001 – best multibank FX trading portal, as voted by institutional voters surveyed in FX Week’s “Best Banks in FX Awards 2001”.
• November 2001 – best multibank site for FX, in Euromoney.com's "Internet Awards 2001".
• There is no fee to transact for customers and other price takers at FXall.
• More than 55 banks have agreed to provide liquidity on FXall.
• FXall’s Customer Advisory Board numbers 32 corporations and institutional investors.
• As of September 2002, FXall has more than 350 customers signed for trading.
• FXall's fully integrated liquidity providers now include:
• ABN AMRO
• AIG International, Inc.
• ANZ Investment Bank
• Bank of America
• The Bank of New York
• Bank of New Zealand
• Bank of Tokyo-Mitsubishi
• Bank One
• Barclays Capital
• BNP Paribas
• Brown Brothers Harriman
• CitiFX
• Credit Agricole Indosuez
• CSFB
• Danske Bank
• Deutsche Bank
• Dresdner Kleinwort Wasserstein
• FleetBoston Financial
• Goldman Sachs
• HSBC
• HypoVereinsbank
• ING Financial Markets
• JPMorgan
• Jyske Bank
• Lehman Brothers
• Mellon Financial Corporation
• Merrill Lynch
• Morgan Stanley
• National Australia Bank
• Nordea
• Northern Trust
• PNC Bank
• Royal Bank of Canada
• The Royal Bank of Scotland
• SEB Merchant Banking
• Standard Chartered Bank
• UBS Warburg
• UFJ Bank Limited
• Westpac
• Under the European Union's uniform regulatory directives, the FSA is FXall's principal supervisory regulator for business in the EU.
• FXall has SAS 70 certification.
• FXall has offices in New York, London, Tokyo and Hong Kong.
• FXall is an independent company with its own board of directors and management team.

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).