Instinet Announces U.S. Share Volume for January 2002.

Business Editors

NEW YORK--(BUSINESS WIRE)--Feb. 7, 2002

Instinet Group Incorporated (Nasdaq: INET) announced today that its U.S. equity volume in January 2002 totaled 5,444 million shares. This compares to 4,734 million shares in December 2001 and 8,077 million shares in January 2001.

U.S. equity volume in January comprised 4,324 million shares of Nasdaq-quoted stocks and 1,120 million shares of exchange-listed stocks.

There were 21 trading days in January, compared to 20 trading days in December 2001 and 21 trading days in January 2001.

Instinet's weekly, monthly and quarterly share volumes are available on its web site at www.instinet.com.

Instinet has experienced significant seasonality in its business, and period-to-period comparisons of operating results are not necessarily meaningful, nor are the results for any period necessarily indicative of results for any future period.

 Total U.S. Equity Share Volume (million shares)

              No.Trade Days  Nasdaq-quoted(1) Exchange-listed   Total
 January 2002       21         4,324          1,120            5,444

 December 2001      20         3,812           922             4,734

 January 2001       21         7,092           985             8,077

      (1) For a description of how we calculate our Nasdaq volumes, see
        "Management's Discussion and Analysis of Financial Condition
        and Results of Operations - Nasdaq Volume Calculations" in the
        Prospectus dated May 17, 2001.

About Instinet

Instinet, through affiliates, is the largest global electronic agency securities broker and has been providing investors with electronic trading solutions for more than 30 years. Our services enable buyers and sellers worldwide to trade securities directly and anonymously with each other, gain price improvement for their trades and lower their overall trading costs. Through our electronic platforms, our customers also can access over 40 securities markets throughout the world, including Nasdaq, the NYSE and stock exchanges in Frankfurt, Hong Kong, London, Paris, Sydney, Tokyo, Toronto and Zurich. We also provide our customers with access to research generated by us and by third parties, as well as various informational and decision-making tools. Unlike most traditional broker-dealers, we act solely as an agent for our customers and do not trade securities for our own account or maintain inventories of securities for sale. For more information, please go to www.instinet.com.

This press release is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.

(c) 2002 Instinet Corporation and its affiliated companies. All rights reserved. INSTINET and the INSTINET Mark are service marks in the United States and in other countries throughout the world. Approved for distribution in the UK by Instinet UK Limited, which is regulated by the FSA and a member of the LSE. Instinet Corporation, member NASD/SIPC and a subsidiary of Instinet Group Incorporated.

This news release may be deemed to include forward-looking statements relating to Instinet. Certain important factors that could cause actual results to differ materially from those disclosed in such forward-looking statements are described in Instinet's prospectus contained in its registration statement on Form S-1, filed with the SEC on May 17, 2001, under the heading `Risk Factors', and other documents filed with the SEC and available on the Company's web site. Certain information regarding Nasdaq trading volumes is also included in the registration statement and on the Company's web site.