Bondweb Gains Traction While Closing Its Second Round of Funding.

Business/High-Tech Editors

SEATTLE--(BUSINESS WIRE)--March 6, 2001

Seattle ECN Bondweb.com today announced the closing of its second round of funding. Bondweb investors include individuals from Europe, Japan and the US, many of whom are bond market professionals.

Bondweb.com, a verticle trading hub for the mortgage-backed securities market, is particularly pleased with the ongoing support from the billion dollar Seattle fishing industry. This group represents the majority investors in both the first and second rounds.

Since its launch earlier this year, Bondweb.com has been gaining traction in the electronic bond trading arena. Its browser based platform has enabled participants in the mortgage-backed securities market to negotiate and close a steadily increasing stream of transaction revenue through its browser based platform at www.bondweb.com.

Primarily focused towards institutional investors, Bondweb.com provides its users with thousands of offerings that are re-priced in real time using data generated by its strategic partners, INTEX SOLUTIONS, Inc. and ANDREW DAVIDSON & COMPANY. With the click of a mouse the Bondweb user is in a real-time anonymous negotiation with a counter party. "All our trading rules parallel current market conventions" says Stephen Jencks, Bondweb's CEO and a veteran of twenty years of trading in the MBS market, "so participants can very easily navigate through a trade". As with traditional broker screens, a Bondweb transaction is anonymous and can take place in as little time as a few seconds to as long as all day, depending on the willingness of the two parties to agree on a price. Unlike traditional broker screens, the details of each negotiation can be seen by only the buyer and the seller.

ABOUT BONDWEB, Inc.

With a patent pending on its software and its business model, Bondweb was architected and built by a large group of in-house developers lead by a talented Microsoft alumnus. The Company is focused on bringing an internet-based brokering solution to the illiquid sectors of the bond market. Bondweb has licenced its technology to Jencks & Company LLC, a registered NASD broker dealer and a member of the Bond Market Association. For more information, visit our site at www.bondweb.com or email us at [e-mail].