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Richard Balarkas Elected as Co-Chair of FPL Global Steering Committee

December 20, 2005 - FIX Protocol Limited (FPL) has announced that Richard Balarkas of Credit Suisse First Boston has been elected as Co-Chair of the FPL Global Steering Committee (GSC). The GSC includes representation from the leaders of each of FPL's four regional committees, three product committees and two service committees. The primary role of the GSC is to effectively manage the organization's ongoing needs at both the strategic and operational level with support of the FPL Program Office.

Richard replaces Alan Line, who retired from F&C Management Ltd earlier in the year, in the GSC Co-Chair position. Alan has been instrumental in the success of the FIX Protocol especially within Europe and FPL thanks him for his many contributions and wishes him the best of luck in the future. Richard will work alongside Scott Atwell, who represents American Century and has held this position since August 2004.

Richard is a Managing Director of Credit Suisse First Boston with global responsibility for Advanced Execution Services (AES) sales, and is Head of Equity Trading Services (ETS) responsible for marketing the full range of CSFB's equity trading and execution capabilities. He has close to 20 years experience in the equity markets, nearly all of which has been spent in roles closely associated with electronic trading. Richard was a founding member of the European FIX committee and has taken an active role in FPL organised events in London and Asia.

In response to his appointment as Co-Chair, Richard stated, "The continued rapid growth of electronic trading in equities makes this an exciting time to join the GSC and work with my fellow committee members in further expanding the usage of the FIX Protocol. FPL has long been a leader in the adoption of standards in electronic trading and I hope to build upon these past successes as the usage of the FIX Protocol spreads across asset classes and throughout the trade process."