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Instinet Announces U.S. Share Volume For February 2002

Date 08/03/2002

Instinet Group Incorporated (Nasdaq: INET) announced today that its U.S. equity volume in February 2002 totaled 4,943 million shares. This compares to 5,444 million shares in January 2002 and 6,488 million shares in February 2001.

U.S. equity volume in February comprised 3,904 million shares of Nasdaq-listed stocks and 1,039 million shares of exchange-listed stocks.

There were 19 trading days in February, compared to 21 trading days in January 2002 and 19 trading days in February 2001.

Instinet's weekly, monthly and quarterly share volumes are available on its web site at www.instinet.com.

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.

Total U.S. Equity Share Volume (million shares)
  # Trade Days Nasdaq-listed* Exchange-listed Total
February 2002 19 3,904 1,039 4,943
January 2002 21 4,324 1,120 5,444
February 2001 19 5,712 776 6,488

* For a description of how we calculate our Nasdaq volumes, see "Management's Discussion and Analysis of Financial Condition and Results of Operations - Nasdaq Volume Calculations" in the Prospectus dated May 17, 2001.

About Instinet

Instinet, through affiliates, is the largest global electronic agency securities broker and has been providing investors with electronic trading solutions for more than 30 years. Our services enable buyers and sellers worldwide to trade securities directly and anonymously with each other, have the opportunity to gain price improvement for their trades and lower their overall trading costs. Through our electronic platforms, our customers also can access over 40 securities markets throughout the world, including Nasdaq, the NYSE and stock exchanges in Frankfurt, Hong Kong, London, Paris, Sydney, Tokyo, Toronto and Zurich. We also provide our customers with access to research generated by us and by third parties, as well as various informational and decision-making tools. Unlike most traditional broker-dealers, we act solely as an agent for our customers and do not trade securities for our own account or maintain inventories of securities for sale. For more information, please go to www.instinet.com.