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Ariel Capital Management Selects Macgregor for Trade Order Management and FIX Connectivity

January 14, 2003 – BOSTON – Macgregor™, a global provider of buy-side trade order management systems (OMS) and FIX network services, today announced that Ariel Capital Management, Inc. has selected the Macgregor Financial Trading Platform™ (MFTP™) to automate its equity trading. Ariel Capital Management chose the Portfolio Management, Compliance and Macgregor FIX Network (MFN) components of MFTP. The system will be deployed to 10 users.

James Atkinson, Chief Financial and Administrative Officer with Ariel Capital Management commented, "After a thorough evaluation of the top order management system providers, we selected Macgregor because of their superior electronic trading and real-time pre-trade compliance capabilities. Macgregor was the only vendor that could offer us a complete FIX solution that included the FIX software, network and the resources necessary to certify and support all of our broker connections. We were also careful to check the vendor’s references and found Macgregor’s reputation for on-time and on-budget deployments to be excellent."

Tom Chippas, Vice President, Sales, Macgregor, stated, "Ariel was very serious about electronic trading but understood that certifying and maintaining counterparty connectivity via FIX could demand a significant amount of their resources. Since we are the only OMS vendor that provides that service to our clients this factor made our solution very attractive. We look forward to getting Ariel connected to all of their brokers so they can improve the efficiency and performance of their investment operations."