Instinet Group Board Member Resigns

Instinet Group Incorporated (Nasdaq: INGP) today announced that Glenn H. Hutchins has resigned from Instinet Group's Board of Directors. Mr. Hutchins has served as a director of Instinet Group since September 20, 2002, and is a founder and managing member of Silver Lake Partners, a leading private equity investment firm. In addition, Silver Lake has advised Instinet and the other shareholders party to the shareholder arrangements entered into at the time of the Instinet-Island merger that it is withdrawing its participation in those agreements. Silver Lake Partners currently owns less than three percent of Instinet Group's total common shares outstanding.

"I have enjoyed serving on Instinet's Board and was pleased to be able to oversee a smooth management transition following Instinet's acquisition of the Island ECN," said Hutchins. "With a premier management team firmly in place, Instinet now has a very solid footing as a market leader, making this an appropriate time for me to shift my focus to other portfolio companies."

"On behalf of the Board and management of Instinet Group, I would like to thank Glenn for his outstanding service on the Instinet Board. All of us deeply appreciate his time, dedication and commitment. We will miss him both for his sound advice and valued friendship during his tenure on the Board. We wish him the best in his future endeavors," said Edward J. Nicoll, Chief Executive Officer of Instinet Group.