A.B. Watley to Launch Interactive Voice Response - IVR - Trading System: WatleyVoice

Business Wire,  May 17, 2001  

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Business Editors

NEW YORK--(BUSINESS WIRE)--May 17, 2001

-- Watley to provide additional services for account management and trading

-- WatleyVoice will be offered to both B2B clients and B2C users

-- WatleyVoice to provide anytime, anywhere account access

A.B. Watley Group, Inc. (NASDAQ: ABWG), premier provider of financial services technology (http://www.abwatley.com), today announced the Company will release a new Interactive Voice Response (IVR) trading product to the B2B and B2C public on June 11 that will provide automated telephone based account management and order execution: WatleyVoice.

"WatleyVoice was developed as part of our commitment in providing the best in products and services for our client base," stated Robert Malin, President of A.B. Watley, Inc. "Using the latest in automated Interactive Voice Response (IVR) and voice recognition technology, WatleyVoice, will allow our UltimateTrader(R) II and WatleyTrader(TM) client base as well as B2B clients to obtain real-time quotes and account positions, check account balances, create and manage quote lists, and provide the ability to place orders and to check order status with simple voice commands from any telephone in the world."

"WatleyVoice has been integrated into the same proprietary back end transaction engine that our client server product, UltimateTrader(R) II, and our web based product, WatleyTrader(TM), has been built upon. What this will mean for our clients is that any account information accessible or transactions entered into UltimateTrader(R) II or WatleyTrader(TM) will be accessible through WatleyVoice and vice versa. This will provide our client base as well as our B2B clients with multiple channels for anytime, anywhere account access," said Eric Rho, Vice President, Product Development.

About A.B. Watley Group Inc.

A.B. Watley Group Inc. is a financial services software company that owns and operates A.B. Watley, Inc., a New York-based NASD registered broker/dealer. A.B. Watley, Inc. is among the largest direct-access brokerage firms in the industry and operates an Institutional Sales and Trading Division specializing in the execution of complex and sensitive large-block equity transactions for institutions in the buy-side community. A.B. Watley Group licenses software technology and provides trading solutions for E-Brokerages, banks, direct-access firms and clearing corporations. Through A.B. Watley, Inc. the firm provides one of the highest quality trading platforms available at among the lowest costs in the industry. A.B. Watley Group's technology has been featured in three (3) case studies by Sun Microsystems and was featured in the SUNW annual report. A.B. Watley Group Inc.'s competitors include NYFIX, E-Speed, OM Group, Trade Cast, Ameritrade and Charles Schwab. The firm is located at 40 Wall Street and on the web at http://www.abwatley.com.

Safe Harbor Statement

Certain statements contained herein, including statements regarding the development of services and markets and future demand for services and other statements regarding matters that are not historical facts, are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995, as amended). Any number of conditions may occur which would materially affect important factors in this analysis and materially change expectations. These factors include, but are not limited to, customer trading activity, loss of one or more significant customers, change in technology, issues involved in the launch of new or modified software programs, issues involved in acting as licensor for proprietary software, shifts in competitive patterns, ability to manage growth effectively, risks associated with acquisitions including integration risks, risks associated with strategic partnerships, various project-associated risks, substantial competition, general economic conditions, risks associated with intellectual property rights, risks associated with international operations and other risk factors listed from time to time in A.B. Watley Group Inc.'s filings and reports with the Securities and Exchange Commission.

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