Bondtrac Adds Support for New Security Types on Bondtrac XT:

Firm continues to add security types to its Bondtrac XT Service

NEW YORK CITY, NY-March 3, 2004-Bondtrac, Inc., a leading provider of fixed-income information for more than a decade, announced today that it has added support for stepped-coupon and multi-step coupon, variable rate, adjustable rate, convertible and preferred securities to its Bondtrac XT private-labeled and professional subscription services.

Bondtrac is the largest provider of fully disclosed offerings in municipal, corporate, agency, zeros, internationals, US treasury, CD and mortgage-backed markets. Bondtrac XT is available by subscription to market professional through www.bondtrac.com. It is also available through private-labeled broker, correspondent or customer web sites customized with the client firm's logos and brand identity. Bondtrac clients include registered representatives, portfolio managers, correspondents, traders & assistants, wealth managers, retail brokers and their customers, research analysts, trust investment officers, capital markets groups and others who access fixed income information.

Bondtrac expanded its market coverage to include support for stepped-coupon bonds, variable rate, adjustable rate, convertibles and preferred securities in addition to the securities already supported. The Bondtrac screen displays the full schedule of coupon rate changes for stepped and multi-step coupon bonds. The formula used to derive the new variable or adjust rate is shown for those security types. Convertibles are shown with the complete details of the conversion options including the conversion security, ratio, and dates. Preferred securities and hybrid preferred securities that have some characteristics of both stocks and bonds have become popular in the current interest rate environment.

Brokerage firms, clearing firms, and dealer banks that use the Bondtrac services within their web site or on a subscription basis can now search, select, analyze, mark-up and place orders against all of these types of securities. Lists of offerings from some of these security types may be seen by selecting the assigned link on the new Bondtrac Quick Search page.

Bondtrac aggressively seeks new additions to its core services and to its offerings to display to its 40,000+ end users. In the past quarter, thousands of new offerings per day have been added to the Municipals segment of Bondtrac, and thousands more have been added to Corporates and Agencies. Broker-dealers contact Bondtrac Offerings department to send offerings or to set up a live feed of offerings direct from their system.

About Bondtrac

Bondtrac, a privately-held corporation founded in 1989, provides the largest fully disclosed source of more than 20,000+ fresh municipal, corporate, agency, CD, zeros, STRIPs, internationals, mortgage-backed and US treasury offerings daily to more than 40,000 end users in brokerage firms and dealer banks. Bondtrac is available by subscription to www.bondtrac.com and through firm-wide web site integrations that private-label Bondtrac for client web sites. Bondtrac offices are located in New York City, San Francisco and Oklahoma City. For more information, please visit www.bondtrac.com, or call Elizabeth Lewis, Vice President of Sales, at 908-769-5373.