FXALL APPOINTS GOLDMAN SACHS' CYRIL COTTU AS CHAIRMAN

12 April 2005 – FXall, the world’s leading foreign exchange platform, today
announced that it has appointed Cyril Cottu, executive director and co-head
of FX asset sales at Goldman Sachs in London, as chairman. Cottu replaces
RBS’s head of e-ventures Martin Spurr in the role, which is elected annually.

Cottu has been with Goldman Sachs since 1998, and has played a major role
in developing the bank’s FX e-commerce strategy. He has more than 12
years’ experience in the foreign exchange markets, including senior FX sales
and marketing at Union Européene de CIC and Banque Paribas/Paribas Capital
Markets.

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