FXall Press Release

fxall tops euromoney poll for second year in a row

• Wins all three voting categories
• Achieves new records for volumes and client take-up

New York, 8 May 2003 - FXall, the global portal for electronic foreign exchange trading, has won the Euromoney forex poll for the second year in a row. FXall topped the poll for all three voting categories: trade execution, straight through processing, and research & analytics.

The Euromoney poll is an annual survey of how leading financial institutions across the globe measure up against the competition. Across the three different voting categories, FXall achieved a total of 1,414 votes. In each of the different categories, FXall received more than triple the number of votes of the second place platform.

It was also announced that FXall has yet again achieved record volumes - trading more than $12.5 billion in a single day of trading. FXall - which regularly trades over $10 billion per day - now has more than 500 corporations and asset managers signed for trading.

Commenting on the results of the poll, Philip Weisberg, CEO of FXall, said, "In May 2001, we launched FXall as an independent portal that would offer clients the most comprehensive functionality in the marketplace. Two years later - as this poll demonstrates - FXall is by far the leading portal for foreign exchange trading, measured both by depth of liquidity and quality of functionality. We are now looking ahead to the next evolution in foreign exchange trading, and will soon extend our award winning technology to new asset classes and new products."

Later in the year, FXall will launch an automated confirmation process for the trading of money market instruments. FXall will also deliver an industry solution for prime brokerage that will enable real-time messaging and automatic notification of prime brokerage deals.

Notes to Editors

• FXall volume is calculated using only the buy-side of a deal. In addition, FXall counts only one leg of a swap in calculating volume.
• FXall defines client as a single company that has signed a contract with FXall to start trading on the system. Within that company, there may be a number of legal entities who are also trading on FXall.

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:
• March 2003 - ranked number one multibank portal by Global Investor's "Foreign Exchange Survey 2003".
• November 2002 – voted 'Best Multibank Portal' in FX Week awards 2002.
• November 2002 – 'Best Multibank FX Portal' in the 2002 Euromoney.com Internet Awards.
• October 2002 – recognized as 'Best of the Web' by Forbes magazine.
• 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”.
• 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.
• FXall has more than 500 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
• Commonwealth Bank of Australia
• Credit Agricole Indosuez
• CSFB
• Danske Bank
• Deutsche Bank
• Dresdner Kleinwort Wasserstein
• FleetBoston Financial
• Fortis Bank
• Goldman Sachs
• HSBC
• HVB Group
• 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
• SvenskaHandelsbanken
• UBS Warburg
• UFJ Bank Limited
• WestLB
• 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, Singapore 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).