MILETUS TRADING INTEGRATES WITH CHARLES RIVER DEVELOPMENT’S INVESTMENT MANAGEMENT SYSTEM

New York - 2 January 2007

Miletus Trading, an agency brokerage providing advanced, quantitative execution strategies and analytics for buy side traders and portfolio managers, today announced that its advanced algorithmic Strategy Enginesâ„¢ and Trade Impact Estimator are now integrated into the Charles River Development Investment Management System (Charles River IMS), a comprehensive front- and middle-office software suite for all security types.

Miletus Strategy Engines™ range from the most advanced basket algorithms to traditional single stock strategies. Miletus’ advanced execution logic works with real-time analytics and a wide array of liquidity sources, enabling the algorithms to rapidly react to changing market conditions and quickly take advantage of opportunities.

Designed to help buy-side traders understand and control market impact and transaction costs, the Miletus Trade Impact Estimator (TIE) generates expected market impact and timing risk estimates, analysis of difficult trades, recommended optimal trading strategies, and detailed risk analysis. TIE is built around a quantitative model and incorporates real-time data inputs to provide more accurate estimates.

“Traders can now access Miletus pre-trade analytics and algorithmic trading strategies directly from the Charles River blotter,” commented Stephen Engdahl, Director of Product Management, Charles River Development. “This relationship with Miletus expands the number of trading strategies, execution venues and supporting tools which Charles River brings together, enabling traders to effectively make decisions and implement trades.”

Charles River is one of the leading vendors of investment management systems for the buy side and we are delighted to become one of its Trade Cycle Partners," said Richard Johnson, Senior Managing Director at Miletus Trading. "This new relationship with Charles River will provide clients with streamlined access to our algorithms and pre-trade analytics, and reinforces our continued commitment to providing better customer service."

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