CLS Bank Settlement Announcement

London, UK and New York, NY - 19 September 2007

Today, CLS Bank International (CLS Bank) set a new record for both the volume and value of payment instructions settled in one day. CLS Bank settled 905,478 payment instructions (previous record 877,312) with a gross value of US$8.4 trillion (previous record $7.28 trillion). This is the first time that the volume and value of payment instructions settled in one day has exceeded the milestones of 900,000 and US$ 8 trillion respectively.

These new records come after the month of August, when CLS Bank settled a record average daily volume of nearly 480,000 instructions a day during the month. To date in September CLS Bank is settling an average daily volume of 430,000 instructions with a gross value of $4 trillion. There are currently 1,903 banks, brokers, fund accounts and corporates using the CLS Bank service. September marks the fifth anniversary of the launch of CLS Bank, during which time it has settled over 220 million payment instructions with a value of over $2.4 quadrillion.

Rob Close, Chief Executive Officer of CLS Group and President and CEO of CLS Bank said: “This is the third time in the last month that we have broken the volume record. September sees the fifth anniversary of the launch of CLS Bank, and we have made great progress since then, now settling over half of all FX transactions globally. Nevertheless the events affecting the markets over the last few weeks have demonstrated more than ever the importance of CLS Bank’s role in eliminating FX settlement risk, and that more needs to be done to encourage the remainder of the market to address this issue.”

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