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Instinet Fixed Income Europe Launches French eBrokerage Operation

Date 12/11/2001

Instinet Group Incorporated (Nasdaq: INET), through its affiliates, the world's largest electronic agency securities broker, today announced the opening of Instinet Fixed Income Europe's French broker desk. The Paris-based desk will provide Instinet's clients with access to the French government bond market. This is one of Europe's core sovereign debt markets with approximately ý580 billion in outstandings and ranked in the top three government bond markets alongside Germany and Italy.

The French Fixed Income Europe team is an integral part of Instinet's European brokerage service working alongside the London and Frankfurt desks. The new Paris desk will provide electronic brokerage services for Instinet's European clients, further strengthening its existing service in OATs and BTANs, both domestically and across Europe.

Announcing the opening, Tony Cooper, Head of Instinet Fixed Income Europe added, "The French government bond market is one of the most important for European Fixed Income traders. By establishing a Paris desk we are demonstrating our firm commitment to this market and providing an even greater level of brokerage service and access to real liquidity for our European clients. Establishing a French operation has always been part of our overall strategy and we are delighted to announce the opening of the French desk at this time."

Instinet Fixed Income Markets provides a brokerage service in Euro denominated sovereign debt and Jumbo Pfandbriefe as well as US Treasuries and US Agencies, with functionality enabling cash, inter- and intra-government spread trading and basis trading in over 550 fixed income instruments.

About Instinet
Instinet, through affiliates, is the world's largest electronic agency securities broker and has been providing investors with electronic trading solutions for more than 30 years. Instinet operates an e-financial marketplace where buyers and sellers worldwide can trade securities directly and anonymously with each other, and have the opportunity to lower their overall trading costs. Through its electronic platforms, customers can access 40 securities markets throughout the world. With major offices in New York, London, Paris, Frankfurt, Tokyo, and Hong Kong, Instinet provides its customers with access to research generated by Instinet and by third parties, as well as various informational and decision-making tools. For more information, please go to www.instinet.com.