Marco Polo Network Launches Cross Border Trading Platform

Cross Border Trading in the Leading Markets of Asia, Latin America, Africa and Eastern Europe

New York, New York – January 29, 2002 – Marco Polo Network ("MPN") today formally launched the first fully integrated global order routing and settlement network for the global emerging markets (GEMs). MPN provides the institutional fund and brokerage community with the capability to execute and settle cross-border transactions in a secure and cost-effective environment. Marco Polo will connect financial intermediaries to their preferred points of execution and custodian partners in Asia, Latin America, Africa and Eastern Europe.

Marco Polo will provide the institutional fund and brokerage community with the lowest cost solution using a world-class technology that can be extended and integrated to meet their requirements for trading multiple asset classes via one front-end system.

The cross-border trading of securities is the most expensive segment of the global capital markets. The high costs derive from the complexities of managing execution, settlement and custodial processes across borders, time zones, regulatory frameworks, and via multiple agents. These costs manifest themselves within the investment community in the form of higher brokerage, operational, and custodial fees.

Vinode Ramgopal, chief executive officer of Marco Polo Network, said, "Our solution deals with the root cause of these high costs by bringing all the trading partners onto a common platform and automating the links between them."

Marco Polo offers global access to cross-border trading that is cost effective, STP capable
and T+1 ready. All transactions are conducted over a secure, private network. Substantial efficiency gains are realized as the Network is designed to use existing industry protocols including FIX and SWIFT. Marco Polo’s order processing and settlement operations use the multi-currency Gloss system from ADP subsidiary Wilco International.

Cliff Goldman, chief operating officer of Marco Polo concluded, "Our solution will significantly reduce the need for manual intervention in processing GEM trades and thereby eliminate the vast majority of trade processing errors."

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