Lava Announces Addition of Algorithmic ''Timeslice'' Tool to LavaFX Product Suite; Major Enhancement Allows ''Quiet'' Execution of Large Orders.

NEW YORK -- Lava Trading Inc., the innovative technology firm that develops high-performance trading solutions for the financial services industry, today announced the launch of Timeslice, a significant new algorithmic trading feature of the LavaFX(TM) foreign exchange product suite.

Timeslice allows foreign exchange traders to execute orders over a period of time with minimal market notice or impact. Timeslice orders are highly customizable and work invisibly by sending pieces of the master order into the market at specified intervals. Traders can dictate a time horizon and choose from different execution styles, as well as select required market conditions for order placement. The trader can select to randomly vary the amount executed and the time between executions to lessen the market's awareness of the order. Orders can also be designed to execute only if the market is trading at a certain spread to avoid periods of decreased liquidity. Timeslice orders also work in conjunction with the LavaFX Staging Area to provide highly automated execution for batches of preloaded orders.

"Timeslice is a major enhancement to the LavaFX platform and is unique in terms of automating order flow," said David Ogg, CEO, LavaFX. "It will enable traders to move large amounts through the market with minimal disruption, or to maximize profit potential on smaller orders by letting them trade out of positions over time where a human may not have the patience to do so. Timeslice provides a true point-and-click operation and we believe there will be considerable interest among our buy-side clients."

Built upon Lava's leading, proprietary technology core, LavaFX provides a premier offering in electronic foreign exchange trading that is transforming the FX marketplace. It provides a Central Limit Order Book of live dealable prices, full price transparency and depth of book, and the ability to place bids and offers, together with Lava's sophisticated order types. The system aggregates multiple sources of FX liquidity into a single access point, which can be tapped via the fast, intuitive LavaFX user interface, or through a FIX API.

Later this year, Lava will launch a revolutionary interbank FX trading platform. This new offering will provide the interbank community with an impressive array of sophisticated order types, full depth of book and superior functionality for electronic foreign exchange trading. Most notably, it will provide a feature never before available to the FX market, which will allow banks to shift large positions quickly and quietly among themselves within a "blind" system.

About Lava Trading Inc.

Headquartered in New York City, with locations in California, Connecticut and the United Kingdom, Lava Trading Inc. is an innovative technology firm that develops high-performance trading solutions for the financial services industry. Lava products are created as true ASP solutions built to withstand maximum volumes in the most volatile conditions. As a cost effective and neutral provider, Lava's OTC, Listed and Foreign Exchange solutions are used by leading broker/dealers, including most of the top U.S. investment banks, as well as market makers, hedge funds and institutional investors. With its patented technology and capital markets expertise, Lava creates value-added trading solutions that combine speed, intelligence and reliability. Lava is a wholly owned, independently-operated subsidiary of Citigroup, Inc. (NYSE: C) and member NASD/SIPC. For more information, visit www.lavatrading.com.