FXall Press Release

fxall wins the euromoney internet awards for the second year in a row

Awarded 'Best Multibank FX Portal'

New York, 8 November 2002 – It was today announced that FXall has been voted ‘Best Multibank FX Portal’ in the 2002 Euromoney.com awards. FXall wins this prestigious award for the second year in a row.

“Winning this award reinforces our position as the acknowledged industry leader,” commented Mike Mendes, Chief Operating Officer of FXall. He continued, “FXall has a unique position in the marketplace. Ours is the only portal that can offer automated pricing from all top-tier providers in a model that completely automates the transaction chain. It is this clear focus on automation that has enabled us to achieve record volumes.”

The Euromoney.com Internet Awards selected the best sites in each category based on their leading functions and transactional features. From there, winners were chosen according to their compared performance on many criteria, including:

• The customer utilisation of the site

• The speed/efficiency it brings to customers’ core business

• The functionality of the site

• The strategic fit of the site for the business it serves

FXall won the award in competition with Currenex, Global Link (State Street), and Hotspot FX.

The Euromoney.com award follows the publication of Forbes Magazine’s ‘Best of the Web’ edition for fall 2002. In a comprehensive survey of 20 different industries, Forbes selected FXall as one of the most promising B2B companies among trading platforms.

FXall – which recently achieved record volumes, trading more than $5bn* in one day – has more than 375 customers signed for trading. At present, 39 banks are fully integrated with the portal.

Notes to Editors

*FXall's volume calculation includes only one side of the trade between buyer and seller, and only one leg of a swap. All trades on FXall are initiated by price takers.

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 October 2002, FXall has more than 375 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).