MILETUS TRADING LAUNCHES RESEARCH BROKER CREDIT AS PART OF NEW COMMISSION MANAGEMENT PROGRAM

New York - 2 October 2006

Miletus Trading, an agency broker specializing in providing real-time, quantitative execution strategies for buy-side traders and portfolio managers, today announced it has launched a Commission Management Program (CMP), adding a Research Broker Credit program to the firm’s existing soft dollar and commission recapture programs.

“CMP is designed to offer buy-side firms and hedge funds an efficient solution to pay for and manage research and investment services,” said Richard Johnson, Senior Managing Director at Miletus Trading. “Incorporating Research Broker Credit to the CMP enhances our offerings to Miletus clients.”

Compliant with safe-harbor rules of the Securities Exchange Act (section 28e), the Research Broker Credit and CMP are easy to manage. Clients simply build up credits when executing trades through Miletus and can direct Miletus to pay their bills on their behalf, or monitor and direct payments via a Web portal.

“With CMP, our clients can now effectively manage research and investment commitments, while obtaining unparalleled control over equity trading using Miletus’ advanced pre- and post-trade analytics, quantitative algorithmic strategy engines and leading trade execution architecture,” said Johnson.

Johnson added, “By combining sophisticated trading tools with knowledgeable execution consultants, Miletus Trading helps its clients achieve best execution while obtaining necessary research and investment services.”

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