Cantor Fitzgerald, L.P., Chicago Board Brokerage, Chicago Board of Trade and Prebon Yamane Reach an Agreement in Delaware Case.

DELAWARE--(BUSINESS WIRE)--April 26, 1999--

As Trial Resumes Today, Defendants Iris Cantor and Rod Fisher Face

Serious Penalties for Their Deliberate Breach of Contract

and Breach of Fiduciary Duty

Cantor Fitzgerald, L.P., today announced that it has reached an agreement with Chicago Board Brokerage (CBB), the Chicago Board of Trade (CBOT) and Prebon Yamane that settles all issues in the Delaware case and related legal actions to their mutual satisfaction.

CBB, its parent companies and their respective affiliates have agreed not to use the computer software provided to CBB by Market Data Corporation or the name "MarketPower". Cantor Fitzgerald, L.P., has dropped all claims against CBB. Other terms of the settlement are confidential.

Charges against Iris Cantor, CFI and Rod Fisher for breach of fiduciary duty and breach of contract remain unresolved and are the focal point of the trial in the Delaware Court of Chancery.

Counsel for Cantor Fitzgerald, Rodman Ward of Skadden, Arps, Slate, Meagher & Flom LLP said, "We can now move forward and focus on the core issue of this case, the deliberate breach of a clear and unambiguous Partnership Agreement. The question which now must be resolved is, how will the Delaware Court deal with the serious issue of partners who have engaged in illegal competition and committed breach of fiduciary duty and breach of contract."

As the trial continues, defendants Iris Cantor and Rod Fisher face serious penalties stemming from their damaging actions taken against Cantor Fitzgerald, L.P. There are a broad range of penalties which may be imposed upon them including (i) denial of millions of dollars in distributions from the Partnership for the period during which they were in breach of the agreement (ii) Cantor and Fisher being required to redeem their partnership units and exit the partnership. Iris Cantor, her affiliates, Rod Fisher and Market Data Corporation (of which Rod Fisher is the Chairman and CEO) could be enjoined from ever engaging in such conduct.

Note: You can obtain more information on the history of what gave rise to the Delaware trial of Iris Cantor and Rod Fisher by visiting www.cantor.com.