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Macgregor Appoints Kevin Milne to Head Up Global Expansion

February 20, 2002 – BOSTON/LONDON– Macgregor™, a global provider of buy-side trade order management systems (OMS) and FIX network services, announced today that Kevin Milne has joined the executive team as Executive Vice President, and will be responsible for spearheading the company’s international growth. Mr. Milne will report into Steven Levy, President and CEO, Macgregor.

Prior to Macgregor, Mr. Milne was Executive Managing Director of Omgeo (the joint venture between Thomson Financial ESG and the DTCC), and was responsible for all aspects of the business outside of the Americas. In his tenure there, Mr. Milne was the driving force behind both exponential client and revenue growth throughout the UK, Europe, Asia and Australia. During this time he became an acknowledged thought leader in global straight through processing (STP).

Mr. Levy commented, "As we look to grow our business in the UK and Europe, we wanted to demonstrate our commitment to these markets by bringing in a recognized industry expert to expand our presence. With Kevin Milne in place at the head of this effort, we will be better positioned to deliver local solutions that support the unique workflows of these markets."

Mr. Milne stated, "Joining Macgregor is a fantastic opportunity. I have said for many years that the slow uptake of buy-side technology has been a major inhibitor to industry-wide STP. The product offerings from Macgregor – the OMS, the integrated FIX network, and the soft dollar brokerage services – combined with unrivalled domain expertise and market leadership position make it an exciting company."

Mr. Milne will be based in London. In addition to the London office, Macgregor has a development office based in Madrid, bringing the company’s European staff to a total of 20 employees. Mr. Milne is charged with expanding that presence to create comprehensive, localized support for the growing European client base.

Mr. Milne is a member of the Securities Institute and the British Institute of Management. He has lectured extensively on STP, operational performance and related issues around the world, and has been published widely on these topics.