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Instinet Japan Appoints New President

Date 02/09/2004

Instinet Japan Limited, the Unconflicted Institutional Broker, an indirect subsidiary of Instinet Group Incorporated (Nasdaq:INGP), today announced that it has appointed Mr. Takeshi Murakami as President and Tokyo Branch Manager.

Murakami-san joins the firm from Schroder Investment Management (Japan) Limited where he spent seven years in a variety of positions. Most recently he was Director, Pension Account Management and Client Services. He has a distinguished career spanning nearly 40 years and has held senior positions on both the buy- and sell-side. Prior to Schroder Investment Management, he served as Schroder Securities' Tokyo Branch Manager for seven years. Murakami-san started his career at Sanyo Securities where he was a pioneer in selling Japanese equities to foreign institutions.

Murakami-san will report to Tony Mackay. Tony retains the role of CEO of Instinet Japan Limited while assuming the position of Head of International Equities, Instinet Europe Limited in London.

Commenting on the appointment Tony Mackay said, "Murakami-san is an important addition to the company and his appointment will contribute to the continuing growth of our Japanese business. Strong client relationships have always been the key to our success and Murakami-san's extensive experience, particularly in his most recent position, will be instrumental in ensuring that Instinet Japan maintains and strengthens its offering to our existing and future clients."

About Instinet, the Unconflicted Institutional Broker
Instinet, the Unconflicted Institutional Broker, gives its customers the opportunity to use its sales-trading expertise and advanced technology tools to interact with global securities markets, to seek improved trading performance and to lower overall transaction costs. Through Instinet's electronic platforms, customers can access other U.S. trading venues, including NASDAQ and the NYSE, and almost 30 securities markets throughout the world. Instinet acts solely as an agent for its customers, including institutional investors, such as mutual funds, pension funds, insurance companies and hedge funds.