TradeSpark, L.P. Provides Operations Update and Contribution Information; Energy Partners and Members Pledge Continued Support.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--Sept. 14, 2001 In response to the overwhelming support following the devastating dev·as·tate tr.v. dev·as·tat·ed, dev·as·tat·ing, dev·as·tates 1. To lay waste; destroy. 2. To overwhelm; confound; stun: was devastated by the rude remark. World Trade Center tragedy, TradeSpark, L.P., a partnership formed by eSpeed, Inc., Cantor Fitzgerald and five of the largest energy producers/distributors, expresses its gratitude to its energy partners and members. Together, the partners and members are working with TradeSpark to ensure its operations are fully functional as quickly as possible. Furthermore, the partner and member companies will provide whatever resources are necessary to enable the systems and technology behind TradeSpark to perform as customers have come to expect. TradeSpark appreciates the continued support and contributions from all energy market participants. Contributions to support the families affected by the tragedy may be made to the Cantor Fitzgerald Foundation, 101 Park Avenue, 45th Floor, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10178-0060. Please mark the envelope "Attention: Phil Ginsberg, re: TradeSpark, L.P. employees and families." TradeSpark is expected to resume trading operations when financial and commodity markets re-open on Monday, September 17. Energy products will be initially available to customers through voice-assisted brokerage. About TradeSpark, L.P. TradeSpark, L.P. is a unique partnership formed by: eSpeed, Inc. (Nasdaq:ESPD ESPD Enfants En Situation Particulièrement Difficile (French) ESPD Engine Shutdown Protective Device ), a leading interactive electronic marketplace engine for business-to-business (B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business ) e-commerce, Cantor Fitzgerald, one of the world's leading voice brokerages and five of the largest US energy producers/distributors. The TradeSpark energy partners are: Coral Energy, Dominion (NYSE NYSE See: New York Stock Exchange :D), Koch Energy Trading, Inc., TXU TXU Texas Utilities (Electric and Gas Company) TXU Transmitter Unit Energy Trading, a subsidiary of TXU (NYSE:TXU), and Williams Energy Marketing and Trading Company, a subsidiary of Williams (NYSE:WMB WMB Waste Management Board WMB Write Me Back WMB Wheaton Municipal Band (Wheaton, IL) WMB Waukegan Municipal Band (Waukegan, IL) WMB Websphere Message Broker ). Active TradeSpark marketplace participants include other major energy companies and including: Dynegy Inc. (NYSE:DYN) and Entergy (NYSE:ETR ETR Estimated Time of Return/Repair ETR Early to Rise (health e-zine) ETR Effective Tax Rate Etr Etruscan (linguistics) ETR Eastern Test Range ETR Express Toll Route ). About Cantor Fitzgerald, L.P. Cantor Fitzgerald, L.P. is a financial services firm with operating units that are involved in a variety of market-based business initiatives. From its position as a leading financial intermediary Financial Intermediary An institution that acts as the middleman between investors and firms raising funds. Often referred to as financial institutions. Notes: This can include chartered banks, insurance companies, investment dealers, mutual funds, and pension funds. in both the equity and fixed income markets, Cantor has expanded the scope of its business to include portfolio trading, investment banking, financial spread betting, market advisory, energy brokerage, CO2 emissions trading and electronic trading technology. Cantor brings its experience and expertise in the financial markets and its legacy of innovation in technology to benefit institutional investors and traders around the world. Whether creating new products and services or enabling its clients to trade more efficiently and effectively through cutting edge technological solutions, Cantor is reinventing markets every day. For more information about Cantor Fitzgerald visit www.cantor.com. About eSpeed, Inc. eSpeed, Inc. operates multiple buyer/multiple seller real-time electronic marketplaces. eSpeed's suite of marketplace tools provides end-to-end transaction solutions for the purchase and sale of financial and non-financial products via the Internet or over eSpeed's global private network. eSpeed currently provides the marketplace infrastructure for 48 financial and non-financial instruments, including most of the world's fixed income marketplaces. eSpeed transacts over $200 billion of financial instruments daily and is headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Additional information on eSpeed is available via the Internet at www.espeed.com. Statements contained in this Press Release which are not historical facts are forward-looking statements, as the term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to: the limited operating history of eSpeed, Inc., its expected incurrence of future losses and negative cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses for the foreseeable future, its ability to enter into marketing and strategic alliances, to effectively manage its growth, to expand the use of its electronic systems, and to induce customers to use its marketplaces and services and other factors that are discussed in eSpeed's Annual Report on Form 10-K filed with the Securities and Exchange Commission. |
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