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ITG Appoints Richard Herr Senior Vice President of Strategic and Business Development

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NEW YORK--(BUSINESS WIRE)--May 10, 2007--Investment Technology Group, Inc. (NYSE: ITG), a leading provider of technology-based trading services and transaction research, today announced that Richard A. Herr has joined the company as Senior Vice President, Strategic and Business Development. In this capacity, Mr. Herr will be responsible for evaluating strategic partnership opportunities and acquisitions for ITG.

Mr. Herr joins ITG from Keefe Bruyette & Woods, a subsidiary of KBW Inc. (KBW), where he was a Senior Vice President for Equity Research, covering brokers, exchanges and trade execution firms. Prior to joining KBW in 2002, he was an Analyst in Equity Research at Wachovia Securities, where he assisted in the coverage of banks, brokerages and specialty finance companies. Mr. Herr began his career in research and investment strategy at the Bank of New York in 2000.

"We are very pleased to add Rich to the ITG team. His depth of industry knowledge, proven analytical capabilities and strong relationships in the industry make him the ideal fit for this new role," said Bob Gasser, ITG's CEO and President.

"ITG has maintained its leadership position in a very competitive industry by consistently evolving its business model," said Mr. Herr. "I look forward to learning more about ITG and helping guide the company's future growth."

Mr. Herr holds a Bachelor of Arts degree in Economics from Fordham University.

About ITG

Investment Technology Group, Inc. (NYSE:ITG), is a specialized agency brokerage and technology firm that partners with clients globally to provide innovative solutions spanning the entire investment process. A pioneer in electronic trading, ITG has a unique approach that combines pre-trade analysis, order management, trade execution, and post-trade evaluation to provide clients with continuous improvements in trading and cost efficiency. The firm is headquartered in New York with offices in North America, Europe and the Asia Pacific regions.

For more information on ITG, please visit www.itg.com.

In addition to historical information, this press release may contain "forward-looking" statements, as defined in the Private Securities Litigation Reform Act of 1995, that reflect management's expectations for the future. A variety of important factors could cause results to differ materially from such statements. These factors include the company's ability to achieve expected future levels of sales; the actions of both current and potential new competitors; rapid changes in technology; financial market volatility; general economic conditions in the United States and elsewhere; evolving industry regulation; cash flows into or redemption from equity funds; effects of inflation; customer trading patterns; and new products and services. These and other risks are described in greater detail in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2006, and other documents filed with the Securities and Exchange Commission and available on the company's web site.

CONTACT: Investment Technology Group, Inc.
Investor and Media Relations:
Alicia Curran, 212-444-6130

SOURCE: Investment Technology Group, Inc.

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