Instinet Group Board Elects New Member

Instinet Group Incorporated (NASDAQ: INGP) today announced the election of Robin Josephs to Instinet Group's Board of Directors, effective January 1, 2005. Ms. Josephs is Managing Director, Ropasada, LLC, a Chicago-based private asset management firm. Previously, she was a senior officer at Goldman Sachs serving in various capacities, and a financial analyst at Booz Allen & Hamilton.

"We are very happy that Robin will be joining us, and look forward to benefiting from her years of experience in the financial services industry," said Ian Strachan, Chairman of Instinet Group's Board of Directors. "Given her experience in investment management, equity markets and financial analysis, we expect Robin to be a valuable addition to the Instinet Board."

Ms. Josephs currently serves as a Director of iStar Financial (NYSE: SFI), and Chairperson of its Compensation Committee and a Member of its Audit Committee. She also serves as a Director of Plum Creek Timber (NYSE: PCL) and Member of its Audit and Compensation Committees. She is a Member of the Board of Trustees of the University of Chicago Cancer Research Foundation, and the Reunion Gift Chairperson and a Member of the Midwest Advisory Committee for the University of Pennsylvania.