FIMAT Launches Electronic Trading for Institutional Customers; Fimatrade-TM- Provides Direct Access to Major Derivatives Markets.

Business Editors

BOCA RATON, Fla.--(BUSINESS WIRE)--March 17, 2000

As part of its effort to offer customers state-of-the-art brokerage services, the FIMAT Group, one of the world's leading global brokering organizations and a part of the French banking group Societe Generale, announced today plans to launch Fimatrade(TM). Developed jointly with Reuters, Fimatrade(TM) is a new, electronic trading system for institutional investors, pairing Fimat's brokerage expertise with sophisticated technology to provide a powerful trading tool.

Fimatrade(TM) is a comprehensive, technologically advanced electronic trading system, developed to offer customers secure and direct access to most of the principal derivatives markets from anywhere in the world, 24-hours a day. Fimatrade(TM) is more than an order routing system, it will integrate execution and middle office functionalities and Fimat back office.

An open architecture will enable Fimatrade(TM) to easily interface with other trading systems. Fimatrade(TM) will also feature a global order book to conduct transactions and allow electronic submission of an order either directly to an electronic exchange, or to a member broker for submission to the proper exchange. The system enables institutional investors to track markets and monitor real-time positions and includes a built-in risk management tool.

"This new system is an important development in our electronic trading strategy," said Marc Breillout, Chairman and CEO, FIMAT. "What we are offering institutional customers is the superior service they expect from FIMAT with the convenience and speed of a sophisticated electronic trading system. The results of our internal testing have been very positive and we have every reason to believe this system will be a success."

Fimatrade(TM) will be implemented at FIMAT client sites in the beginning of June, 2000. At that time, the system will be connected to Matif, Eurex and Liffe. FIMAT expects Fimatrade(TM) to be linked to other leading global exchanges, including GLOBEX; TSE; OSE; SFE; HKFE; CBOT; MEFF and TIFFE by the end of the year.

The FIMAT Group consists of FIMAT International Banque, S.A. and all its worldwide branches and subsidiaries, as well as the divisions of SG Securities North Pacific S.G. and SG Securities (London) Ltd., Seoul Branch doing business as "FIMAT" in Japan and Korea, respectively. The group provides global clearing and execution services to institutional users of derivatives markets worldwide. Companies of the Group are members of 34 financial and commodity exchanges in 13 countries. FIMAT covers markets that account for approximately 80 percent of the volume of all major exchanges. FIMAT offers clients access to over 500 individual interest rate, bond, currency and equity products, as well as 220 individual commodity contracts, covering the full spectrum of metals, grains, soft commodities and energy products. Only FIMAT USA is a member of the NASD and SIPIC. Fimat International Banque, S.A. (UK Branch) is regulated in its conduct of business by the Securities and Futures Authority. Not all services of Fimatrade(TM) may be available from all locations.