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Mellon Capital Mgmt. Selects Macgregor

January 24, 2002 - Boston, MA

Macgregor™, a global provider of buy-side trade order management systems (OMS) and FIX network services, announced today that Mellon Capital Management (Mellon Capital) has selected the Macgregor Financial Trading Platform™ (MFTP™), Macgregor’s real-time OMS, for domestic and international equity order management. Mellon Capital will roll the system out to 25 users.

Mellon Capital will also implement the Macgregor FIX Network (MFN), Macgregor’s fully integrated and supported FIX network, starting with connections to approximately 15 brokers. After the initial implementation, Mellon Capital plans to rapidly increase its number of broker connections. MFN provides clients with access to over 115 brokers and every major ECN.

Jim Tufts, Executive Vice President and Chief Operating Officer of Mellon Capital, commented, "On the product side, we were impressed with the level of connectivity built into the OMS via MFN. In addition, Macgregor’s size and commitment to meeting our needs set them apart from the other vendors in the market."

Steve Levy, President and CEO of Macgregor, stated, "When a firm selects an OMS, they are entering a long-term relationship with both the system and the company behind it. We are excited that Mellon has chosen Macgregor to partner with them in their pursuit of STP."