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INSTINET CORPORATION ACQUIRES LOAN-EX SOFTWARE

 NEW YORK, Dec. 16 /PRNewswire/ -- Instinet Corporation today announced it has acquired a new securities lending software called LOAN-EX from AT&T ISTEL Limited (Redditch, U.K.) and Premier Systems (London) PLC.
 LOAN-EX was being developed by Premier Systems for launch in 1993. An agreement between Instinet and Premier now provides for Premier's continued development of the software for Instinet.
 Instinet said the acquisition and software development agreements together represent less than 1 percent of the net assets of its corporate parent, Reuters Holdings PLC (NASDAQ: RTRSY). The consideration was paid in cash.
 LOAN-EX will support computerized information exchange services for the international securities borrowing and lending market.
 Similar services are now being provided to Instinet clients via BLEND, a securities lending product, and INSTANT LINK, a securities trade confirmation and settlement network.
 Instinet will develop and market LOAN-EX as a BLEND replacement. This entire suite of services will be marketed and sold as Instinet products.
 The Reuter Financial Systems Group (Toronto), responsible for worldwide marketing of BLEND and INSTANT LINK, will be fully integrated as an Instinet business unit. The group had been reporting to Instinet in New York for about two years.
 Brian Traquair, vice president of Reuter Financial Systems, has been appointed general manager for the new suite of products within Instinet. He reports to Hall Rich, Instinet chief operating officer.
 Instinet President and Chief Executive Officer Michael Sanderson said: "Acquisition of the LOAN-EX software, and integration of BLEND and INSTANT LINK into that software, are important steps toward offering Instinet customers state-of-the-art stock lending and transaction services."
 Instinet Corporation provides a range of equity trading services, including real-time trading and crossing. More than 2,000 investment professionals worldwide, including institutional money managers, brokers, and market makers use its systems to trade anonymously more than 13,000 global equities. Trading activity and decision support are enhanced by Instinet Analytics and Reuter news and market information.
 -0- 12/16/92
 /CONTACT: Terrence J. Mulry, 212-310-9554, or Brian Traquair, 416-364-5361, both of Instinet/
 (RTRSY)


CO: Instinet Corporation; AT&T ISTEL Limited ST: New York IN: FIN SU: TNM

AH-CK -- NY026 -- 7637 12/16/92 10:52 EST
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Date:Dec 16, 1992
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