A.B. Watley Group Releases New Direct-Access Trading Product: WatleyStreamer.

Business Editors/Hi Tech Editors

NEW YORK--(BUSINESS WIRE)--April 11, 2001

-- Watley continues to release best-of-breed innovative software products

-- Streamer will be offered to both B2B clients and B2C users

-- Streamer has broad applicability and fills out B2B product offering

A.B. Watley Group Inc. (NASDAQ: ABWG), premier financial services software and technology provider (www.abwatley.com), today announced it has released a new product to the B2B and consumer public: WatleyStreamer. The WatleyStreamer is a proprietary software product that is based on Watley's UltimateTrader(R) II JAVA technology and will bridge the gap between direct-access software and website trading products. It affords the user key direct-access platform benefits with a very small download "footprint." This new product will allow users to view and save multiple portfolios in realtime as well as view the top 10 most active stocks and options listed on all major exchanges.

"We continue to generate new and exciting products. Within both our B2B and B2C businesses, we saw the opportunity to market a new best-of-breed technology: WatleyStreamer. WatleyStreamer is a combination of three UltimateTrader II features; FREE streaming quotes, realtime positions and direct-access trading into market centers and ECN's. We have distilled these three key features from our UltimateTrader II program and made them accessible via a website in order to expand our market reach into the mainstream investor that wants more sophisticated tools. We believe the market for this product could be as much as 80% of the online trading population. We are very excited about providing yet another direct-access platform to our B2B and B2C product offerings." said Steve Malin, CEO of A.B. Watley Group.

"The brokerage industry spends tens of millions of dollars per month on software licensing to support its trading operations. The WatleyStreamer will serve not only as a new brokerage generating product for our current client base, but also as part of our B2B tool set that we may license into that huge market. The fact that it will work with our existing trading platform and integrate with those that license technology from us is a real value added service." continued Steve Malin.

Watley currently offers direct-access trading via UltimateTrader II software and WatleyTrader(TM) UltimateTrader II is Watley's proprietary direct-access trading software and WatleyTrader is the firm's website offering. WatleyStreamer is currently available to Watley's UltimateTrader clients and B2C clients.

ABOUT A.B. WATLEY GROUP INC.

A.B. Watley Group Inc. is a financial services software company that owns and operates A.B. Watley, Inc., a New York-based NASD registered broker/dealer. A.B. Watley, Inc. is among the largest direct-access brokerage firms in the industry and operates an Institutional Sales and Trading Division specializing in the execution of complex and sensitive large-block equity transactions for institutions in the buy-side community. A.B. Watley Group licenses software technology and provides trading solutions for E-Brokerages, banks, direct-access firms and clearing corporations. Watley Group additionally owns and operates its own `ticker-plant' allowing it to redistribute equity and equity option data feed at greatly reduced costs. Through A.B. Watley, Inc. the firm provides one of the highest quality trading platforms available at among the lowest costs in the industry. Watley Group's technology has been featured in three (3) case studies by Sun Microsystems and was featured in the SUNW annual report. A.B. Watley Group Inc.'s competitors include NYFIX, E-Speed, OM Group, Trade Cast, Ameritrade, Schwab. The firm is located at 40 Wall Street and on the web at http://www.abwatley.com.

SAFE HARBOR STATEMENT

Certain statements contained herein, including statements regarding the development of services and markets and future demand for services and other statements regarding matters that are not historical facts, are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995, as amended). Any number of conditions may occur which would materially affect important factors in this analysis and materially change expectations. These factors include, but are not limited to, customer trading activity, loss of one or more significant customers, change in technology, issues involved in the launch of new or modified software programs, issues involved in acting as licensor for proprietary software, shifts in competitive patterns, ability to manage growth effectively, risks associated with acquisitions including integration risks, risks associated with strategic partnerships, various project-associated risks, substantial competition, general economic conditions, risks associated with intellectual property rights, risks associated with international operations and other risk factors listed from time to time in A.B. Watley Group Inc.'s filings and reports with the Securities and Exchange Commission.