Thomas A. Kloet Appointed COO of Fimat USA, Inc.

New York, NY - May 5, 2003 - Fimat Group, one of the world's leading global brokerage organizations and part of Société Générale Group, has appointed Thomas Kloet as Chief Operating Officer of Fimat USA, Inc. Mr. Kloet will oversee Fimat USA Operations, Finance, IT, Credit and Risk. This role was previously held by Cynthia Zeltwanger, who was named President and Chief Executive Officer of Fimat USA, Inc. in March of this year. In his new position, Mr. Kloet will report directly to Zeltwanger.

Mr. Kloet's experience spans not only broker/dealer and FCM areas of the financial services industry, but also exchange management, making him one of the few individuals in the industry to have worked on both sides of the market.

Prior to joining Fimat USA, Kloet served as CEO of the Singapore Exchange (SGX) for a period of approximately three years where he was responsible for integrating the stock and derivatives exchanges and their clearing organizations into one organization, leading the very successful IPO of the SGX in November 2000 and launching a suite of innovative new products. Prior to this Kloet was Senior Managing Director with ABN Amro, Inc. and Senior Vice President, ABN Amro Bank N.V. Prior to ABN Amro he held the role of COO with Credit Agricole Futures. He is also a member of the American Institute of Certified Public Accountants.

In 1996 he was elected a board member of the Chicago Mercantile Exchange (CME) and he served as Treasurer of the board. In addition, he was a member of the CME's Executive Committee and chaired the CME's Clearing House Oversight Committee; Finance, Budget and Planning; and Benefits and Compensation Committees and vice chaired its Strategic Planning Committee. He held these positions at the CME until his appointment as CEO of SGX in April 2000.

Ms. Zeltwanger said: "As the industry continues to become more complex and
challenging from a management and operational perspective, the breadth and depth of Tom's expertise will prove a very effective addition to our Fimat USA management team. He brings with him a wide range of contacts and is well known within this highly competitive industry. And I am confident that his knowledge of various markets will be a great advantage to Fimat USA and our clients, particularly as the industry continues to see a convergence of OTC and exchange traded products. "

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