Creditex To Integrate Mark-it's RED (Reference Entity Database) Within Creditex's Realtime Platforms

London, 22 April 2004 - Mark-it Partners Ltd. ("Mark-it"), the world's first integrated daily pricing service for global credit derivatives, cash credit instruments and syndicated loan pricing, and Creditex Inc. ("Creditex"), a leading provider of credit derivatives execution and information to the world's largest global financial institutions, jointly announce that Creditex will incorporate RED into its RealTime trading and information platforms. Creditex, which is the only provider of credit derivatives on-line execution services, will become the first intermediary to fully integrate Mark-it RED data into its trading, brokerage and information businesses.

Under the terms of the agreement, Creditex will be integrating RED fully into its RealTime trading system for single name and index products, as well as using RED for electronically executing credit derivatives transactions. All the major participants in the credit derivatives markets are subscribers to RED and have Creditex's RealTime platforms installed on their trading desks. The market-standard RED CLIP codes will also be displayed on Creditex's trading platforms, facilitating information sharing between the Creditex brokers and dealing rooms.

Sunil Hirani, CEO of Creditex said, "Mark-it RED provides us with the market standard data that we require to conduct our business accurately and efficiently. We are proud to be setting the highest market standards for on-line trading via RealTime, with the full integration of Mark-it's RED. We are confident that incorporating RED within RealTime will help our clients move one step closer to standardisation and automation in the credit derivatives marketplace."

Lance Uggla, CEO of Mark-it Partners, said, "We're very pleased to have the opportunity to work with Creditex as we answer our partners' requirements by establishing RED data as the market standard. Embedding the RED data into the core trade processes in the credit derivatives market is a key part of our strategy and Creditex are the perfect firm to work with to pursue that."

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About Creditex

Creditex is a leading provider of credit derivatives execution and information to the world's largest global financial institutions. The Company is an independent intermediary committed to providing liquidity to the credit derivatives market. Creditex meets the needs of its clients through a combination of industry knowledge, market expertise and applied technology. Headquartered in New York City, with offices in London and Singapore, Creditex was founded in 1999 and is led by a seasoned management team of former investment bankers. Clients of Creditex include the major credit derivatives market makers.

Creditex was ranked as the top broker in 2002 for Basket Default Swaps and Synthetic CDOs by Risk magazine and was voted The Best Multi-Bank Site for Credit Derivatives by Euromoney. Creditex's strategic investors include many institutions that are leaders in the credit derivatives market, including: ACE Guaranty Re, Bank of America, Bank of Montreal, Canadian Imperial Bank of Commerce, Credit Suisse First Boston, Deutsche Bank, Dresdner Bank, Financial Security Assurance, J.P. Morgan Chase, Morgan Stanley, Pacific Life Insurance Company, Soci鴩 G鮩rale, UBS and West LB. In addition, both Thomson Financial Ventures and the New York City Investment Fund are investors.

Creditex is an approved broker/dealer by the NASD in the United States and is regulated by the FSA in the United Kingdom. For more information, visit www.creditex.com.