NeoNet’s U.S. Operations Show Dramatic Growth in Trading Volume and Revenue

NEW YORK, N.Y.—May 20, 2002—NeoNet, a leading provider of real-time equity trading services for institutional investors and broker-dealers, today announced that its U.S. operations have experienced tremendous growth in revenue and trading volumes for the first quarter of 2002 compared to the same period a year earlier. NeoNet’s U.S. operation, which represents the order flow of U.S.-based institutional traders executing on European equities exchanges, achieved a 321 percent increase in total turnover during the first quarter of 2002. Daily turnover surged 303 percent to $94 million from $23.3 million. Total share volume during the first quarter rose 492 percent to 420 million shares from 71 million shares last year; and gross transaction revenue increased 267 percent. “With the continued strong growth of U.S. investments in European equities, we have seen a marked increase in client usage and market volume, ” said Peter Gaffney, president of U.S. operations at NeoNet. “Our ongoing commitment to providing customers with the most efficient and cost-effective execution capabilities in the industry has resulted in exceptional growth in all aspects of our business. NeoNet has strengthened its presence on a number of the European exchanges where it holds memberships. During the first quarter of 2002 NeoNet was the 7th Largest Broker in Finland and the 12th Largest Broker in Sweden when looking at the percent of share of total turnover. NeoNet’s market share on the other major European Exchanges have increased as well. Damon Leavell, Spring O’Brien 973.267.8800 damonl@spring-obrien.com Sharon Salamon, NeoNet U.S. 212.980.7600 sharon.salamon@nnsec.com