BNY ConvergEx Group Achieves Recognition as Top NASDAQ Liquidity Provider

New York - 12 December 2006

During its first two months as a new company, the combined broker-dealer execution services organization of BNY ConvergEx Group, LLC achieved recognition as being among the top ten NASDAQ liquidity providers. This rapid success underscores the superior capabilities and premier positioning of BNY ConvergEx Group as a leading provider of agency brokerage and investment technology solutions.

Launched on October 2, 2006, BNY ConvergEx Group brings together two established, well-respected organizations – BNY Securities Group and Eze Castle Software LLC – creating a leading provider of agency brokerage and investment technology solutions. The new company was formed to meet the challenges of a rapidly evolving marketplace, providing premier, customized solutions with unparalleled customer service and support to deliver a comprehensive, integrated approach to the entire investment cycle, from idea generation and trade execution to clearance and settlement. The Company offers a broadly diversified suite of services, with core competencies in trade execution, commission management, independent research, transition management and trade order management technologies. With a broad global footprint, BNY ConvergEx Group has offices located in the U.S., Europe, Asia and Australia, operating in over 80 markets.

BNY ConvergEx Group provides conflict-free, cost-effective solutions through proprietary and best-of-breed technology, multiple sources of connectivity and straight-through processing capabilities. A unique combination of state-of-the-art technology and a highly skilled staff of experienced professionals help to enhance clients’ investment performance through seeking best execution and lower transaction costs.

Joseph M. Velli, Chairman and CEO of BNY ConvergEx Group, stated, “We are extremely excited by this recognition from NASDAQ. In our first two months as a new company, this achievement highlights our vision and demonstrates our leadership role in providing dynamic, performance-based services that will help us grow and continue to succeed. We already have very robust trading capabilities and are implementing additional, innovative solutions and technologies to help our clients to access deeper pools of liquidity, regardless of their particular trading styles and preferences.”

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