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Intelligent Markets Closes $10 Million in Second Financing Round
April 25, 2001

Intelligent Markets Closes $10 Million in Second Financing Round

SAN FRANCISCO, April 25 -- Intelligent Markets, Inc., the leading provider of comprehensive trading technology for global financial institutions, today announced that it has closed $10 million in second round preferred financing. The Series B round is led by Woodside Fund and is joined by Oak Hill Venture Partners, the lead investor in Intelligent Markets' Series A round, and Pacific Venture Group.

Intelligent Markets develops trading platforms for the institutional securities businesses of dealers, dealer consortia, and exchanges serving the financial markets. With the movement toward electronic trading in institutional markets, securities dealers face the challenge of providing sophisticated trading capabilities to their clients without losing the first-hand client and market knowledge which is currently exchanged over the phone. Intelligent Markets builds systems that utilize computer learning to allow dealers to move their sales and trading operations into the electronic age while actually enhancing personalized client service.

``We are extremely pleased to have brought on board such high-quality investors in our second round,'' said Carl Huttenlocher, Co-Founder and CEO of Intelligent Markets. ``Their support will be invaluable as we execute our strategy as an enterprise software provider for the capital markets, as well as for non-financial markets in the future.''

``Intelligent Markets is unequalled in its unique combination of Wall Street experience and software development expertise to create robust and scalable systems which address the volume and complexity of institutional trading,'' commented Daniel Ahn, Principal at Woodside Fund.

About Intelligent Markets, Inc.

Intelligent Markets is the leading provider of comprehensive trading solutions for securities dealers, dealer-consortia, and exchanges serving the institutional financial markets. Intelligent Markets currently delivers its technology through a software license or full ASP hosting. Key features of Intelligent Markets' technology include automated contingent order execution, computer learning technology which alerts professionals to transaction opportunities, and a robust and scalable architecture built for institutional markets. Founded in 1999, Intelligent Markets developed the BuySideDirect Convertible Securities Trading System, the first electronic platform for the trading of convertible securities and their underlying stock.

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