Global Agency Brokerage AXES Adds Three to Board of Directors

New York - 18 September 2006

AXES LLC, the premier electronic global institutional agency brokerage firm that provides a single point of entry to more than 90 broker-dealer partners trading in over 250 equities and derivatives markets worldwide, today announced the appointment of three new members to the Board of Directors of its parent company, AXES Holdings, LLC: Javier Dominguez, John Gutfreund and Norman Pessin.

Bringing more than 25 years experience in capital markets, banking and IT, Javier Dominguez is the CEO of the Interdin Group S.A., a leading diversified financial services firm headquartered in Spain. Mr. Dominguez also serves as President of Interdin Bolsa S.V.B. S.A., a leading independent securities broker for the Spanish market and a member of the Madrid and Barcelona Stock Exchanges, and as President of Consultora de Riesgos Financieros S.A., which provides financial risk analysis consulting. Interdin Bolsa S.V.B. S.A. is the AXES broker-dealer partner for the Spanish market.

Distinguished Wall Street veteran, John Gutfreund is Senior Adviser and a member of the Executive Committee of global investment bank C.E. Unterberg, Towbin, serving emerging growth companies and investors in the technology, health care and modern defense sectors. He is also President of Gutfreund and Co., Inc., a New York-based financial consulting firm that specializes in advising select corporations and financial institutions in the United States, Europe and Asia.

Prior to forming his own firm, Mr. Gutfreund spent nearly 40 years at Salomon Brothers, serving as CEO and Chairman of the Board from 1981 to 1991, as well as President from 1986 to 1991. A past Vice Chairman of the New York Stock Exchange (NYSE) and former member of the Board of Directors of the Securities Industry Association (SIA), Mr. Gutfreund serves on the Board of Directors of several companies, including Compudyne Corp., LCA -Vision, Inc., Nutrition 21, Inc., and Evercel, Inc. In addition, he is a member of The Brookings Institution and its Council Advisory Committee in New York, and the Council on Foreign Relations, among other organizations.

A former principal for nearly 25 years of Neuberger Berman, a major investment management firm, Norman Pessin is currently a private investor with a focus on small, publicly traded companies. At Neuberger Berman, Mr. Pessin was responsible for syndicate underwriting, prime brokerage, correspondent clearing and NASDAQ market-making. He also served on the Board of Governors of the National Association of Securities Dealers and was a director of the Nasdaq Stock Market.

Messrs. Dominguez, Gutfreund and Pessin join Jonathan Auerbach and David Grayson on the AXES Holdings, LLC Board of Directors. Mr. Auerbach and Mr. Grayson are co-founders of AXES and Managing Directors of Auerbach Grayson & Company, Inc., a brokerage firm specializing in the international securities markets.

“Our three new directors bring a wealth of industry experience, knowledge and insight on a global level to our board. Their strategic counsel and guidance will provide a great advantage as we grow the firm,” said Jonathan Auerbach, Chairman of the Board of AXES Holdings, LLC.

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