<http://www.liquidnet.com/company/> The Company Why Use Liquidnet Membership News and Stats Careers Contact Us About Liquidnet :: Senior Management :: Board of Directors :: Liquidnet Europe Liquidnet is successfully redefining institutional trading. Launched in April 2001, Liquidnet was built exclusively for institutional trading. After only three years, we are now ranked as one of the top 14 largest NYSE institutional brokers and the 15th largest NASDAQ broker* respectively. The Liquidnet global community has grown to represent more than $6.8 trillion in equity assets under management. Liquidnet's unique model brings natural buyers and sellers together and enables them to anonymously negotiate trades among each other, without intermediaries or information leaks. Liquidnet's institutional Members trade large blocks of small-, mid- and large-cap stocks easily, efficiently and with little to no market impact costs. The result is the industry-leading average execution size of more than 42,000 shares since inception, with 50% of all executions done at the mid-point and 92% done within the spread. Liquidnet, Inc. is a registered broker/dealer, headquartered in New York City. Liquidnet Europe Limited is regulated by the Financial Services Authority and is headquartered in London. * Based on Plexus Group analysis (03Q3 - 04Q2) November 29, 1999 Liquidnet Holdings, Inc. founded January 10, 2000 Liquidnet, Inc. founded April 10, 2001 Liquidnet launches in the United States with 38 Member firms April 16, 2001 Liquidnet completes first week of trading with an average execution size of 86,000 shares June 12, 2001 Liquidnet Europe Ltd. founded October 23, 2001 Liquidnet executes its 500-millionth share March 8, 2002 Liquidnet signs first European Member April 4, 2002 Liquidnet executes its one-billionth share June 3, 2002 100th Member firm goes live August 2002 Liquidnet recognized by Plexus Group as one of the largest institutional brokers for NYSE-listed stocks November 2002 Liquidnet recognized by Plexus Group as one of the largest institutional brokers for NASDAQ stocks November 20, 2002 Liquidnet Europe launches, providing fund managers with access to six global markets - UK, French, German, Swiss, Dutch and US December 31, 2002 Liquidnet ends year with 136 live Members and completes strongest quarter to date, executing 426 million shares January 30, 2003 Liquidnet executes its two-billionth share October 14, 2003 Liquidnet executes its largest single US equities trade to date -- 2.83 million shares. November, 2003 Liquidnet ranked as the 5th and 10th least expensive trading venue for NYSE and Nasdaq stocks, respectively, by Elkins/McSherry. December 16, 2003 Value traded in Liquidnet since inception reaches $100 billion. December 22, 2003 Liquidnet breaks its single day record for US volume, executing nearly 29.5 million shares. January, 2004 Liquidnet ranked as one of the Top 20 largest NYSE brokers in the Plexus Group universe of 1,500 brokers. January 21, 2004 July 29, 2004 October 21, 2004 Liquidnet breaks its single day record for US volume, executing more than 30 million shares. Liquidnet brings anonymous block trading to Canada Liquidnet Honored as the 5th Fastest Growing Private Company in America by INC. MAGAZINE and THE fastest growing private Financial Services company. -- ----------------- R. A. Hettinga <mailto: rah@ibuc.com> The Internet Bearer Underwriting Corporation <http://www.ibuc.com/> 44 Farquhar Street, Boston, MA 02131 USA "... however it may deserve respect for its usefulness and antiquity, [predicting the end of the world] has not been found agreeable to experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'