TradeWeb Europe: Rapid Growth Continues in Challenging Markets

- September Volume Another Record- 

London, (3rd October, 2001) -- TradeWeb Europe, the European operation of TradeWeb LLC, the leader in online fixed income markets, today announced that its September Euro Sovereign monthly volume exceeded €25.6bln, continuing the platform's rapid growth and setting another monthly record. In Europe, US products also grew strongly as customers utilised TradeWeb's expanded global product capability.

Roger Jones, Managing Director of TradeWeb Europe said, "We're very pleased that during this challenging period our system was even more vital to our clients, by providing essential pricing and uninterrupted access to market liquidity. It's no surprise that our September volume set another record. This is a powerful endorsement of the capabilities of the system and of our dealers."

Erik Hallarth, Head of Fixed Income, PFA Pension said, "At a time when market liquidity has been affected, TradeWeb has given us the ability to get excellent pricing information and very competitive trade execution."

TradeWeb connects institutional customers with exceptional functionality, proven technology, and a safe and secure network. Critically during such periods of volatility, the system uniquely links customers to the unmatched liquidity of the world's leading dealers.

Stefano Pittaluga, Fund Manager at Gruppo Monte Paschi Asset Management, said "TradeWeb proved invaluable during this volatile period in the market. This is further proof of the benefits of the system and of online trading."

TradeWeb has rapidly expanded its global product range in Europe by offering investors US Treasuries and agencies, mortgaged backed securities and commercial paper, in addition to its euro sovereign product. Pfandbriefe, supras, euro commercial paper and enhanced STP functionality will also soon be available.

About TradeWeb

TradeWeb is the leader in on-line fixed income markets, with total volume exceeding US$6.5 trillion and over 1.2 million trades since inception in 1998. TradeWeb's multi-dealer, multi-product model links the liquidity of 16 of the world's leading fixed income dealers with more than 900 large institutional investors in Europe and North America. The company's technology platform allows clients to view prices and execute trades through liquidity provided by the largest market makers in global fixed income products. It is utilised by clients to trade U.S. Treasury and agency debt securities, euro-sovereign debt securities, TBA agency mortgage-backed securities and commercial paper.

For more information contact: Steve Hall (+44 (0)20 7776 3200) , email steve.hall@tradeweb.com or visit our company website www.tradeweb.com