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Nasdaq Names Christopher R. Concannon Executive Vice President Of Strategy And Business Development

Date 19/05/2003

The Nasdaq Stock Market, Inc. ("NASDAQ®"; OTCBB: NDAQ), today announced that Christopher R. Concannon has been appointed Executive Vice President of Strategy and Business Development. Mr. Concannon joins NASDAQ from Instinet Group, Inc. where he served as President of Instinet Clearing Services, Inc.

"Chris is an industry veteran with a unique background in business development and operations, as well as market structure and regulation," said Robert Greifeld, President and Chief Executive Officer of NASDAQ. "Chris will play a key role in executing NASDAQ's strategic direction as we move forward."

Throughout his career with Instinet, Mr. Concannon, 35, also served as Special Counsel and Vice President of Business Development and was responsible for coordinating the merger and integration of Instinet and Island ECN. Prior to the merger, he was Special Counsel and Vice President of Business Development of the Island ECN and was responsible for formulating, planning and executing Island's business strategies. Earlier in his career he served as an associate at Morgan, Lewis & Bockius LLP, as an attorney in the Division of Market Regulation at the Securities and Exchange Commission and as a Legislative Analyst at the American Stock Exchange.

"I look forward to joining Bob and the strong team at NASDAQ to help shape and execute NASDAQ's strategy, while leveraging my business, regulatory and operational expertise," said Mr. Concannon.

NASDAQ (OTCBB:NDAQ) is the world's largest electronic stock market. With approximately 3,500 companies, NASDAQ lists more companies and trades more shares per day on average than any other U.S. market. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, media and biotechnology industries. For more information about NASDAQ, visit the NASDAQ Web site at www.NASDAQ.com or the NASDAQ NewsroomSM at www.NASDAQnews.com.