Track Data Announces Addition of ElephantX for Trade Executions Through Its myTrack Service

Business Wire, August 15, 2001

Business Editors

NEW YORK--(BUSINESS WIRE)--Aug. 15, 2001

Track Data Corporation (Nasdaq-NMS: TRAC) today announced that it has added Elephant eXpress as another direct routing destination for stock trades placed through myTrack, its Internet-based online trading and market data service.

"Elephant eXpress is like an ECN for listed stocks, but it offers a little extra," said Barry Hertz, Track Data Chairman and CEO. "It's a chance for an individual investor to enjoy the rights previously reserved for Specialists. Customer orders are represented directly and electronically as proprietary Specialist quotes on the Cincinnati Stock Exchange. The customer therefore retains full control over that order at all times and can change or cancel it immediately. That's a huge advantage."

"We're very pleased to announce the addition of Elephant eXpress. It is an excellent routing source and a clever system. The more direct links we have to market makers and ECNs, the better it is for our myTrack members," Hertz continued.

"We are excited about teaming up with Track Data because both our firms are niche players swimming with the sharks and surviving because of superior technology," said Robert Sher, President of ElephantX dot com, Inc. "Elephant eXpress was designed for use with direct access platforms like myTrack. We are confident that myTrack members will be pleased with the executions they receive and the control they get on the stock trades they route to us."

ABOUT THE COMPANIES

Track Data is a New York-based financial services company that provides real-time financial market data, news, and research to institutional and individual investors through dedicated telecommunication lines and the Internet.

For individual investors, Track offers myTrack, a fully integrated, Internet-based online trading and market data system. myTrack's direct access online trading has commissions starting at $12.95 per trade and allows users the choice of where to route their orders. myTrack's continuous, dynamic stream of live market data is powered by application-based software and a constant server connection similar to systems used by professionals, making it faster than the HTML web-based static pages offered by most of its competitors, such as Schwab (NYSE: SCH), E*Trade (NYSE: ET), and TD Waterhouse (NYSE: TWE). myTrack supplies free market data to its brokerage account holders: streaming delayed quotes, company news, charting for technical analysis, and a proprietary library of intra-day market statistics. In addition, myTrack offers users a selection of paid data and research, including streaming real-time quotes, Nasdaq Level II, and Pink Sheets Level II. myTrack offers access through PCs, browser phones, and PDAs, such as Palm Organizers (made by Palm Inc. (Nasdaq: PALM)) and Visors (made by Handspring (Nasdaq: HAND)).

myTrack offers the first week of trading commission-free. To open a trading account, go to http://www.mytrack.com or call 1-800-myTrack.

For additional information, please contact Laurel Louison, Investor Relations, at 718-522-7373 or by e-mail: laurel_louison@trackdata.com.

Elephant eXpress is a fully electronic Alternative Trading System designed to compete directly with the New York Stock Exchange on stock transactions by extending specialist trading privileges directly to its subscribers. The system is designed to give subscribers the speed and openness of an ECN without sacrificing the liquidity that exists in the current market.

Founded in May of 1999 by two former hedge fund managers, with investors that include Bear Stearns, Prospect Street Ventures, and Mitsubishi Capital, Elephant eXpress, is an institutional broker dealer specializing in electronic equity trade matching and routing. Elephant eXpress is an NASD registered broker dealer and a member of the Cincinnati Stock Exchange.

The Elephant eXpress system has been extensively tested by its more than 90 institutional and brokerage subscribers, since the turn of the year. These subscribers include large buy and sell side firms, program trading desks, clearing firms, hedge funds, broker/dealers and direct access trading firms, who are using the system for both single order entry and basket trading of Listed securities.

For additional information about Elephant eXpress, please visit us at http://www.elephantexpress.com or contact a sales representative at 212-972-3692.