Launches Wall Street's First Instant Messaging-Based Service for Real Time Trading

Boston, MA - March 7, 2005 - IMTRADER today announced that America Online, Inc. has certified its industry-leading trading and instant messaging technology, IMTRADER, with licensed connectivity to the AOL® Instant MessengerTM (AIM®) service. The latest release of IMTRADER offers new features designed to maximize a trader's experience with the AIM service including the ability to convert instant messages into electronic trades using the industry-standard FIX (financial information exchange) protocol. The AIM service is the dominant instant messaging (IM) network used by traders around the world.

"Through our work with America Online, IMTRADER is able to provide significant productivity gains to both buy side and sell side traders currently using the AIM service to communicate and trade," said Furqan Nazeeri, CEO of IMTRADER. "With IMTRADER, not only have we integrated a custom version of the AIM service for traders, but we have connected a broker's trading and research systems to the industry-leading IM network to create a real time trading channel that uses the tools traders prefer. Our solution increases the speed, accuracy and frequency of information sharing while satisfying stringent compliance requirements."

"IMTRADER is a unique and valuable tool that leverages the power of the AIM service in an application specifically designed for one of our most active and demanding user bases," said Brian Curry, Vice President, AOL Premium and Subscription Services, America Online, Inc. "IMTRADER' IMTRADER enhances the real time communications experience, speeding business processes and offering increased efficiencies to the trading community."

IMTRADER is an innovative real-time trading and communication platform provided by institutional brokers to their hedge fund and registered investment advisor clients. IMTRADER connects an institutional broker's order management, instant messaging and research systems to its clients providing seamlessly integrated electronic trading and instant messaging without the expense of a separate buy-side order management system or other electronic trading connections.

About IMTRADER:

IMTRADER (www.imtrader.com) is the recognized leader in the development and implementation of instant messaging and trading technology solutions. IMTRADER' core offering is IMTrader, a revolutionary securities trading platform that combines instant messaging, electronic trading and research distribution. The company is a member of AOL's AIM Certified Partner Program.