There are no corporate developments at the Company to warrant the unusual trading this morning. We have identified and are working to correct a software glitch in the Knight trading system that affected only Knight's stock. The glitch generated a large series of sell limit orders in Knight stock, which were routed to various destinations and disrupted trading in our security. This was isolated to Knight's stock and had no bearing on client business. Knight is operating under normal operating conditions, without interruptions. We are working with various execution centers to correct these erroneous orders in Knight's stock. Knight does not make a market in its own stock.

Knight's strategy is sound, our balance sheet is strong, and we looking forward to building the business going forward.

Knight is the liquidity center that offers superior execution services to its broker-dealer and institutional clients in over-the-counter (OTC) and listed equity securities, and in equity options. In so doing, Knight helps its clients meet their fiduciary obligation of obtaining best execution for the securities orders that they route on behalf of their customers. Knight also maintains an asset management business for institutions and high net worth individuals through Deephaven Capital Management LLC.

Knight has the power to commit capital for market orders and also maintains one of the largest limit order books in the OTC market. The Company has approximately 1,180 employees worldwide and is one of the largest destinations for stock orders placed via the Internet. Knight traded 135 billion shares in the year 2001, a volume behind only those posted by Nasdaq and the New York Stock Exchange (NYSE). More information about Knight can be obtained at http://www.knight-sec.com or http://www.knighttradinggroup.com.

Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Since such statements involve risks and uncertainties, the actual results and performance of the Company may turn out to be materially different from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made herein; however, readers should carefully review reports or documents the Company files from time to time with the Securities and Exchange Commission.

SOURCE Knight Trading Group, Inc.

CONTACT: Margaret Wyrwas, Senior Vice President, Corporate Communications & Investor Relations, +1-201-557-6954, mwyrwas@knight-sec.com, Kara Fitzsimmons, Manager, Corporate Communications, +1-201-356-1523, kara_fitzsimmons@knight-sec.com, or Judy Pirro, Manager, Investor and Shareholder Relations, +1-201-356-1548, judy_pirro@knight-sec.com, all for Knight Trading Group, Inc.