JonesTrading Names Will Geyer President, COO

Los Angeles - 30 April 2007

Firm Strengthens Senior Management for Continued Growth

JonesTrading Institutional Services LLC, a leading agency brokerage, which provides institutions with block trading of U.S. and Canadian securities, announced today that it has named Will Geyer, a leading industry expert in electronic platforms and equity trading processes, as its President and Chief Operating Officer.

Geyer’s appointment is the second strategic move announced by JonesTrading this month. The firm previously announced an equity financing of $50 million from Friedman Fleischer & Lowe.

Recently Packy Jones, the firm’s Chairman and CEO, undertook a strategic review of the business model, the changing U.S. regulatory landscape, and the rush to technology by competitive organizations. That review, in combination with the firm’s continued strong performance, evidenced strong client demand for JonesTrading’s model, which proactively sources liquidity for block trades.

JonesTrading will continue to provide its model and will do so through an optimal combination of relationship and technology based services. This combination will provide clients with choice, and will create more liquidity and performance for these clients.

In support of that strategy, Geyer brings over 15 years of technology development, and brokerage and institutional trading to JonesTrading. His experience and expertise will enable JonesTrading to build the internal infrastructure and management platform necessary to meet client demand in today’s liquidity- and alpha-driven competitive environment.

Most immediately, Geyer will undertake the development and implementation of an enterprise-wide internal communications and data platform detailed as part of the prior financing announcement. The specifics of that platform will be announced in due course. In addition to his role in technology development, he will manage internal operations and oversee sales and trading. He will serve on the firm’s Executive Staff Committee.

Will Geyer joins JonesTrading from Citigroup, where he was most recently responsible for the strategic development and deployment of their global front end electronic trading platform. Prior to that post Geyer managed Citigroup’s Global Alternative Execution business, which included the development, trading and sales of the firm’s algorithms, DMA, program trading, transition services and connectivity functions. Before joining Citigroup he managed U.S. Equity trading at Barclays Global Investors.

Said Packy Jones, Chairman and CEO of JonesTrading: “We are convinced that today’s market will continue to demand agency execution services that implement institutional investment strategies through large blocks and that these can only be constructed by expert traders who understand the complexity of today’s fractured markets. At the same time, we recognize the continuing need to evolve our model to meet the needs of institutions in an ever-changing marketplace.

“Will Geyer brings to JonesTrading a breadth and depth of experience and understanding of today’s trading. At the same time he has an appreciation for the JonesTrading model and the necessity to adapt it to today’s increasing demand for a technology platform that will deliver of our services and our liquidity.”

Said Will Geyer, President and COO: “JonesTrading is unconflicted in its delivery of agency trading to U.S. institutional clients. The firm enables them to unlock pent-up liquidity and execute investment strategies and trades in size in a proactive way. That model is unique and the firm's continued growth is evidence of its value to both the marketplace and its clients. I appreciate the opportunity to develop our model in new ways on behalf of clients while also contributing to the building a robust internal management structure in support of the firm’s strategic and near-term goals.”

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