Instinet's U.S. equity share volume in May comprised 5,516 million shares of Nasdaq-listed stocks and 973 million shares of exchange-listed stocks.
Instinet's estimated total U.S. equity market share for April 2002 was 8.8%. Estimated share of Nasdaq-listed volume was 13.6%, and of exchange-listed volume was 2.9%.
________U.S. Equity Share Volume and Estimated Market Share_________
Instinet has experienced significant seasonality in its business, and period-to-period comparisons of operating results are not necessarily meaningful, nor are the results for any period necessarily indicative of results for any future period.
Instinet's weekly, monthly and quarterly U.S. equity share volume and market share are available on its web site at www.instinet.com.
*For a description of how we calculate our Nasdaq volumes, see "Management's Discussion and Analysis of Financial Condition and Results of Operations-Key Statistical Information-Nasdaq Volume Calculations" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2001.
