TREASURYCONNECT and FNX FORM CO-MARKETING ALLIANCE

NEW YORK, February 12, 2001 – TreasuryConnect LLC, the Internet’s leading trade communication and execution platform for OTC derivatives, and FNX Ltd. ("FNX"), a leading provider of trading desk, straight-through processing and Internet management solutions to the global capital markets, have formed a co-marketing alliance, the companies announced today.

The agreement calls for FNX’s global sales force to distribute TreasuryConnect’s private label online trading systems to derivatives dealers worldwide. TreasuryConnect, which last May launched the Internet’s first trade communication and execution platform for interest rate and currency derivatives, announced in December that it has begun developing proprietary trading sites for derivatives dealers based on its technology.

"The TreasuryConnect system will enable us to provide a complete end-to-end processing solution running from a bank customer’s desktop to the bank’s back office systems," said David Boldon, FNX Senior Managing Director of Sales and Marketing. "In combination with our front, middle and back office systems, it gives FNX a fully integrated product that offers a straight-through processing solution for communication between a bank and its institutional customers.

"TreasuryConnect will add valuable cross product functionality to our Internet solutions," Vicki Zesses, FNX Managing Director, Americas, commented. "The decision to partner with TreasuryConnect is further proof of FNX’s commitment to the ongoing expansion of Sierra Systems Internet capabilities."

"Having FNX distribute our systems will greatly augment our own marketing efforts," said Bruce Usher, TreasuryConnect Chief Executive Officer. "FNX’ products and sales force are held in high regard throughout the global capital markets, and their decision to represent us is a strong vote of confidence for our technology."

About TreasuryConnect

TreasuryConnect LLC (www.treasuryconnnect.com), with offices in New York and Los Angeles, offers secure Internet-based trade communication and execution software for capital markets transactions. The company operates and maintains an online trading platform for OTC derivatives, and develops proprietary systems for dealers based on its proven technology. TreasuryConnect’s trading platform, which was developed by traders and system professionals, allows end users to obtain simultaneous price quotes from multiple dealers in real time, and then execute a transaction online. The first live trade using the TreasuryConnect platform was executed May 18, 2000.

TreasuryConnect also offers direct back office links for straight through processing, documentation solutions, historical data, research and analytic tools to facilitate trading. TreasuryConnect does not alter the existing trading process or the relationships between customers and dealers; its primary objective is to maximize the operating efficiency of the transaction execution process. TreasuryConnect investors include Williams Capital Group, eVentures International and investment subsidiaries of Enron Corporation and AIG Financial Products.

About FNX

FNX Ltd. is a financial markets solutions company that provides state of the art front, middle and back office fully web enabled solutions for the international financial community. FNX’s flagship product, Sierra System is a high performance real-time trading, workflow management and accounting solution supporting all asset classes with full STP capability and on-line real-time risk management and limits control. Designed for global implementation across multi-site, multi-entity treasury operations, Sierra System delivers the requirements for a high volume global system. The release this year of the eSierra Portfolio of products extends the proven functionality of Sierra System to browser based web-enabled networks.

FNX operates globally from offices in New York, London, Singapore and Tokyo. Founded in 1992 and headquartered in Wayne, Pennsylvania, FNX is a world-class leader in the financial technology arena. FNX installed and supports intrinsic technology solutions for more than 50+ global financial institutions. For more information, please visit http://www.fnx.com.

Contact:-

Deb Cannon
FNX Limited
+1(212) 363 9500
dcannon@fnx.com

Ellis Simon
TreasuryConnect LLC
+1(212) 830 4560
simon@treasuryconnect.com


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