TRIO OF CONTRACT WINS FOR BT SYNTEGRA'S TRADING FLOOR SWITCH

- New switch sparks demand by smaller firms for full functionality of larger trading floors and enhanced customer service functions -

BT Syntegra, the systems integration business of BT, today announced that it
has installed its new ITS p31 trading floor telephony switch at First Principle and ANZ Bank trading floors, as well as at Frog Design, an international design firm, which is using the switch to deliver full voice functionality and customer service enhancements. While the switch is being put to different uses, each firm will be taking advantage of the robust telephony capabilities. Previously, only larger firms were really able to reap the benefit of the advanced voice features and greater functionality that this switch now provides.

First Principle institutional traders and ANZ Bank foreign exchange and capital markets traders rely on the ITS p31 telephony switch for delivering voice trading capabilities. Some 25 employees of Frog Design based in the company's New York office utilise the switch for enhanced customer service functions and greater flexibility.

Launched by BT Syntegra to the U.S. market in June 2003 and in the UK in March 2003, the ITS p31 telephony switch is already used by a total of 93 customers across 23 countries globally. This compact switch allows smaller trading firms and the satellite offices of larger financial institutions to benefit from the functionality of BT Syntegra's larger switches at a cost-effective price.

As part of First Principle's New York trading room expansion, institutional
traders have been using the ITS p31 switch, along with BT Syntegra's ITS pV405Hi turrets running the latest ITS Release 15 software, since November 2003. Lugene Forte, COO, First Principle, an institutional brokerage firm based in New York City said: "First Principle chose BT Syntegra over IPC based on a number of factors including reputation, reliability, customer support and recommendations from our peers. We were pleased to find that the ITS p31 switch afforded us comparable, advanced voice trading functionality, which until now was only cost effective for larger organisations."

ANZ Bank previously used a V-band trading system prior to replacing it with the p31 telephony switch. The firm's 10 equity traders are using ITS pV405Hi turrets and pVs81i speakers for seamless functionality and built-in business
continuity throughout the company.

Frog Design chose BT Syntegra based on the team's responsiveness to their needs and requirements and its strong local presence and experience in critical systems.

C. Steven Crosby, executive vice president & general manager for the Americas region, BT Syntegra said: "The full range of capabilities of the ITS p31 switch-from enabling instant communication to advanced voice trading functionality with our trading turrets-is evident in the diverse companies it serves. These smaller firms rely on the dependability and flexibility of our switch for enhancing customer service and maximising trading opportunities typically reserved for larger firms."

The ITS p31 uses the latest ITS Release 15 software - providing full remote
configuration, administration, monitoring and diagnostics. It permits traders to link with BT Syntegra's desktop portfolio for seamless functionality and inherent business continuity.

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