FXall Press Release

TCV TO INVEST US$77.5M IN FXALL

Long term, strategic investment to support FXall's core business strategy

London, 24 July 2006 - FXall, the world's leading online foreign exchange platform, announced today that Technology Crossover Ventures (TCV), a leading provider of growth capital to technology companies, has agreed to purchase a minority stake in FXall for US$77.5 million.

FXall is a market leader in online FX and its volumes have grown every quarter since inception. In Q2 this year, total trading surpassed $2.4 trillion, up 50% on Q2 2005. This investment will accelerate growth while supporting FXall's core strategy of providing asset managers, banks, broker-dealers, corporations and hedge funds with foreign exchange execution and post-trade services as well as deep liquidity across all currency pairs.

As part of the refinancing TCV partners Henry Feinberg and Robert Trudeau will join FXall's board. FXall welcomes the additional expertise their appointment will bring.

Phil Weisberg, CEO of FXall, said of the deal, "TCV has a track record of taking successful businesses to their next phase of growth and FXall welcomes the expertise they bring to the board. The confidence TCV has shown in our business model and performance is a firm endorsement of our market-leading position and future prospects for long-term growth. This investment will fuel continued development of new products and services, enabling us to deliver an even more comprehensive offering to our customers."

Robert Trudeau, a general partner of TCV, said, "FXall is unique in the online FX space. We have been following the company for a number of years and have been impressed by its performance and business model. FXall's diversified client base and comprehensive service offering make it well positioned to benefit from further growth in online trading."

Cyril Cottu, co-head of FX sales, Europe, Goldman Sachs International, and chairman of the FXall board, said, "FXall has grown and delivered beyond expectations since its launch five years ago. This investment bears testament to the strength of the management team and the future potential that will be unlocked by opening up the shareholder base. TCV is a strategic investor with a proven track record in helping drive growth in companies at this stage in their lifecycle and we fully expect FXall to continue to deliver strong growth following this investment."

Closing is expected to occur next month.

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 and cost savings at every stage of the deal lifecycle.
• FXall provides customers with the ability to meet best practice guidelines prescribed 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).

FXall, Altair, QuickFill, QuickOMS, QuickConnect, and all associated logos, are the trademarks of FX Alliance LLC.

About TCV

Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of growth capital to technology companies, providing funds to later-stage private and public companies. With $4.7 billion in capital under management, TCV has made growth equity and recapitalization investments in over 150 companies leading to 38 initial public offerings and 29 strategic sales or mergers. TCV employs a crossover investment model, which combines venture capital with public market investing and enables TCV to continue to invest in its portfolio companies at the IPO and beyond. Representative investments include Alteon Websystems, Altiris, CNET, eHarmony, Expedia, InPhonic, Liquidnet, Netflix, RealNetworks, Redback Networks, Solect Technology, Webroot and Xylan. TCV has ten partners and is headquartered in Palo Alto, California. For more information about TCV, visit www.tcv.com.