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Will Sterling, President Of Island ECN, To Leave Instinet - Alex Goor To Head ATS/ECN Business

Date 27/06/2003

Instinet Group Incorporated (Nasdaq:INET) announced today that Will Sterling, President of its Island ECN subsidiary and head of Instinet Corporation's ECN and Clearing businesses, will be leaving today to accept a new job at another company. Instinet's Executive Vice President for Strategic Planning, Alex Goor, will now lead Instinet's ATS/ECN initiatives.

"Will has done an exceptional job during his five years at Island, first as Chief Technology Officer and then as President. In the past year he played a key role in the integration of Island and Instinet, and helped position Instinet as one of the largest electronic marketplaces. He will continue to achieve great things," said Edward J. Nicoll, Chief Executive Officer of Instinet. "As we move forward, I cannot think of a stronger leader than Alex Goor to head Instinet's ATS/ECN business. Alex brings a unique mix of industry knowledge and a proven track record," said Mr. Nicoll.

"I am honored and privileged to lead Instinet's ATS/ECN initiatives. Island and Instinet have played a key role in making the equity markets more efficient, and I look forward to building on this track record. I think we have a tremendous opportunity to continue to improve our customers' experience by aggressively focusing on our technology and product offering, " said Alex Goor. ,p> Alex Goor joined Instinet in 2002. Before joining Instinet he was Chief Strategy Officer at Datek Online Holdings Corporation (DOHC), where he had also served as President of Datek Online Brokerage Services, the firm's online brokerage subsidiary, and as President of Watcher Technologies, a DOHC technology development and licensing subsidiary.