In designing and enhancing the TradeStation electronic trading platform, our objective was to surpass the passive information and execution tools provided by other trading platforms. Using our proprietary technology, EasyLanguage®, a cornerstone of TradeStation, we wanted to create an interactive trading assistant that allowed traders to harness the incredible power of their PCs to help them test, monitor and automate the execution of their trading strategies more quickly and effectively than ever before.

Now, the two unique advantages that have made the TradeStation platform an industry leader for over 10 years—the ability to historically test and automate custom trading strategies—are fully integrated with the unmatched speed of intelligent direct-access execution to all major ECNs, Exchanges and electronic futures markets in one easy-to-use interface. Once unattainable for most traders, automated trading is now a reality to all TradeStation Securities clients. TradeStation's Strategy Automation Engine makes it possible for traders to automatically monitor and execute dozens or even hundreds of custom strategies and markets—from the simplest to the most complex.

Since the June 2001 release of the TradeStation electronic platform, TradeStation Securities has been repeatedly rated the best online brokerage firm for active traders. If you are an active trader or a hedge fund trader, and have not yet experienced the power of TradeStation, we sincerely urge you to do so.

We thank our clients for their support.

Very truly yours,

Salomon Sredni, Chairman and CEO

Certain statements made above are forward-looking in nature. We urge anyone interested in TradeStation Group to review carefully our recent SEC filings and press releases, particularly the issues, uncertainties and risk factors described in those documents.