Press Releases

NexTrade Increases ECN Services to Brown & Company

Contacts: NexTrade
Arlana Guckenberger
727/446-6660
Brown & Company
Barry Fischer
617/624-6385

Tuesday, August 31, 1999

Clearwater, FL (August 31, 1999) - NexTrade today announced that they are increasing ECN technology and execution services for Brown & Company, one of the nation's largest volume online discount brokers. The relationship adds liquidity to NexTrade's system, and provides Brown & Company with access to the only ECN that is currently available to cross orders 24 hours a day, 7 days a week.

"Brown & Company has always been a visionary company," says NexTrade President, John Schaible, "and the firm saw the value months ago of how NexTrade's technology could provide the best trade executions and protection possible for Brown & Company customers - the firm's top priority." NexTrade has been working with Brown & Company for the past year, and has developed a custom interface for Brown & Company. The custom interface allows Brown & Company to offer the NexTrade ECN execution alternative for their thousands of customers.

Brown & Company has been trading on NexTrade for six months on a limited basis, and has recently increased its volume through NexTrade. Gary Sjostedt, Director of Trading Operations at Brown & Company states, "We are committed to providing the best execution to our customers. NexTrade has proven to be a reliable technology provider with capacity, stable systems, and quality executions."

About NexTrade: NexTrade, based in Clearwater, Florida, is one of nine SEC-approved Electronic Communications Networks ("ECN") operating in the United States. As an ECN, NexTrade allows institutional customers to trade securities without the involvement of a principal broker/dealer. NexTrade is a global provider of financial products and services, specially geared to electronic marketplaces and their benefits to the investing public. NexTrade's technology allows NexTrade to execute capacities on par with the major, worldwide exchanges. Website: www.NexTrade1.com

About Brown & Company: Brown & Company is a deep discount broker for experienced investors who make their own investment decisions. Established in 1960, Brown & Company is a member of the New York Stock Exchange, The American Stock Exchange, The Boston Stock Exchange, The Chicago Stock Exchange, The Philadelphia Stock Exchange, the National Association of Securities Dealers, a member of SIPC and a subsidiary of the Chase Manhattan Corporation. Website: www.BrownCo.com


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