|MAY 17, 2000|
|Knight/Trimark Group Signs Lease for New World Headquarters at Newport|
JERSEY CITY, N.J., May 17 /PRNewswire/ -- Knight/Trimark Group, Inc. (Nasdaq: NITE), the largest wholesale market maker in U.S. equity securities, has signed a lease for its new world headquarters in Jersey City, NJ. The new headquarters will be located at 545 Washington Boulevard in Jersey City, a building now under construction adjacent to Knight's current headquarters at 525 Washington Boulevard.
Slated for occupancy in the summer of 2001, Knight will have 266,000 square feet in the new building. The firm's new trading floors are designed to seat more than 1,000 equities and options market makers. Knight occupies 106,000 square feet at its current headquarters.
"Knight's evolution over the past five years into a world class market center, servicing both self-directed and institutional investors, has necessitated our move to a trading facility that can accommodate our phenomenal growth," said Robert I. Turner, Executive Vice President, Chief Financial Officer and Treasurer of Knight. "We see no end in sight for growth in both U.S. equities and options, as the number of online trading accounts is expected to triple by 2002, and as institutions turn to us more and more for our execution services. Our custom-designed headquarters will solidify our status as the technology leader in equities and options trading, and will enable us to provide best execution solutions in millions of trades per day for the rapidly expanding global trading village."
"Our new trading facility will be the cornerstone of our efforts to be active in all major global markets and provide 24/7 trading capabilities to the world," said John G. Hewitt, President of Knight Securities, a subsidiary of Knight. "Our new world headquarters will also feature expansive viewing galleries of the trading floors to accommodate broadcast media. In addition, we will have the capacity to deliver Internet-based broadcasts of market information from our new location. This major facility will be joined by two other trading sites that will be built this year in London and Tokyo. These initiatives are key to Knight's global business plan."
"We are delighted that such a prestigious company as Knight has decided to maintain its world headquarters in Jersey City's Newport community," said Richard Lefrak, President of the Lefrak Organization, the builder and landlord of Knight's new headquarters. "Knight's presence in Newport, along with that of other illustrious financial and high-tech firms such as PaineWebber, Brown Brothers Harriman, U.S. Trust, Insurance Services Office and Cigna, further establishes Newport as an important and growing economic hub as Wall Street continues to expand westward."
The team of Neil Goldmacher, Executive Managing Director/Principal of Newmark & Company, and Seena Stein, President of Newmark & Co. Real Estate of New Jersey, arranged the transaction on behalf of Knight/Trimark Group.
Cushman & Wakefield, a preeminent international real estate services and brokerage firm, represented the Lefrak Organization.
Newport is a 600-acre community designed for residential, commercial and retail use. Located directly across from Manhattan's World Financial Center, the waterfront community also provides on-site shopping, leisure amenities, and a waterfront esplanade for residents, office workers and visitors, featuring panoramic views of the Manhattan skyline. The community is accessible by PATH, ferry, major highways and The Hudson/Bergen Light Rail Transit System -- which will pass directly behind Knight's new headquarters. Newark International Airport is 13 minutes away via Interstate 78 or the New Jersey Turnpike.
Newmark & Company Real Estate, Inc., has been one of the most prominent real estate services providers in the New York Metropolitan area for more than 70 years, currently leasing and/or managing 46 million square feet of commercial space including a seven million square foot portfolio owned by the principals of the firm. Newmark provides comprehensive brokerage, property and facility management, investment sales, retail and corporate advisory services. Due to its diverse experience and extensive resources, Newmark understands and is able to address the important issues facing owners and tenants alike.
The Lefrak Organization is one of America's largest and most successful real estate development, management and building companies. During the past 95 years, the company has created tens of thousands of apartments in hundreds of buildings, millions of square feet of commercial and office space and billions of dollars in property value.
Knight, headquartered in Jersey City, NJ, is the parent company of Knight Securities, Knight Capital Markets, Knight Financial Products and Knight Securities International Ltd. Knight Securities makes markets in equity securities listed on Nasdaq and on the OTCBB of the National Association of Securities Dealers (NASD). Knight Capital Markets trades NYSE- and AMEX-listed equity securities over the counter (the Third Market). Knight Financial Products makes markets in options on individual equities, equity indices, fixed income instruments and certain commodities in the U.S. and in Europe. Knight Securities International arranges transactions in U.S. listed and OTC equity securities between European institutions and its affiliate, Knight Securities. Knight also maintains an asset management business for institutional investors and high net worth individuals through its Deephaven subsidiaries.
As the number one destination for online trade executions, Knight is the processing power behind the explosive growth in securities trading via the Internet. The firm is a part of Fortune magazine's "e-50 Stock Index," an elite collection of companies that are shaping the new Internet-based economy. In addition, Knight, which has been in operations for fewer than five years, is included in the "Forbes 500" ranking of the most profitable public companies in the U.S. Currently, Knight employs more than 975 people worldwide with offices in Jersey City, NJ; Jericho, White Plains, Purchase and New York, NY; Chicago, IL; Boston, MA; Minnetonka, MN; Philadelphia, PA; Santa Clara, CA; and London, England. SOURCE Knight/Trimark Group, Inc.
CONTACT: Ed Cortese, Senior Vice President of Lefrak Organization, 718-575-4622; or Margaret Wyrwas, Vice President, Corp. Communications & Investor Relations, 201-557-6954, firstname.lastname@example.org, or Chuck Dohrenwend, Manager, Corp. Communications, 201-356-1753, or email@example.com, both of Knight/Trimark Group, Inc./