Instinet Group Completes Sale Of Lynch, Jones & Ryan, Inc. To The Bank Of New York

Instinet Group Incorporated (Nasdaq:INGP) ("Instinet Group"), the largest global electronic agency securities broker, announced today that it has completed the previously agreed sale of Lynch, Jones & Ryan, Inc. ("LJR"), an Instinet subsidiary, to The Bank of New York for $174 million in cash. The Bank of New York will operate LJR as a subsidiary of BNY Brokerage, Inc., its agency brokerage and a member of BNY Securities Group.

Consistent with Instinet Group's prior announcement on April 22, 2005, Instinet's Board of Directors expects to consider the amount of the dividend to be paid to stockholders, which will not exceed the net proceeds of the LJR sale, and the record date for such dividend at its next regularly-scheduled Board meeting on July 12, 2005. Pursuant to the terms of the company's merger agreement with The Nasdaq Stock Market, Inc., any dividend will reduce the per share merger consideration to be received by stockholders in the pending Nasdaq merger.