Investment Technology Group, Inc. Chairman Announces Plan to Sell Common Stock

NEW YORK, NY, March 7, 2002 - Investment Technology Group, Inc. (NYSE: ITG) announced today that Raymond L. Killian, Jr., President, Chief Executive Officer and Chairman of the Board of Directors, has established a plan to sell shares of ITG common stock on a monthly basis. The Plan was adopted on March 6, 2002, and is in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934.

The plan, which expires on December 31, 2002, calls for monthly sales of 60,000 shares. The timing and specific terms of the sales will be determined by the selling broker. The number of shares anticipated to be sold under the plan represents approximately 46% of Mr. Killian's holdings of ITG stock. Mr. Killian currently beneficially owns approximately 1.3 million shares of ITG stock (including options to purchase 113,000 shares of ITG stock which are currently exercisable).

“Mr. Killian's planned program allows him to gradually diversify his ITG holdings as he prepares for his previously announced retirement as CEO of ITG at the end of the year, while minimizing the market effect of such a sale,” stated Howard Naphtali, Chief Financial Officer of ITG.

“I remain firmly confident in the future outlook for ITG, as evidenced by my remaining holdings in the company, but I believe it is prudent to diversify my investment portfolio at this stage,” stated Mr. Killian.

The Securities and Exchange Commission's newly adopted Rule 10b5-1 permits employees to adopt written plans at a time when they are not in possession of material nonpublic information and to sell shares according to the plan on a regular basis regardless of any subsequent nonpublic information they receive.

ITG is headquartered in New York with offices in Boston, Los Angeles, Dublin, Hong Kong, London, Melbourne, Sydney, Tel Aviv and Toronto. As a leading provider of technology-based equity-trading services and transaction research to institutional investors and brokers, ITG services help clients to access liquidity, execute trades more efficiently, and make better trading decisions. ITG generates superior trading results for its clients through three lines of business. POSITÒ, the world's largest equity matching system, allows clients to trade confidentially. The Electronic Trading Desk is recognized as one of the leading program trading operations in the U.S. ITG's leading-edge client site products allow users to implement their own trading strategies by providing direct electronic access to most sources of market liquidity. For additional information, visit

Statements made today may include forward-looking information subject to risks, uncertainties and other factors that could materially affect actual results. For further information please see ITG's reports filed with the SEC pursuant to the Securities Exchange Act of 1934 which are available at the SEC's website (

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