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Tuesday October 16, 2001

TruExchange Promotes Bob Thomas to Vice President of Engineering

Lexington, Mass. October 16, 2001 -- TruExchange™, Inc., a leading vendor of trading and matching engines for electronic exchanges, announced today the promotion of Bob Thomas to vice president of Engineering.

In his new capacity, Mr. Thomas will continue to lead product development at TruExchange, paying particular attention to product content, development resources, maintaining a development schedule, and ensuring quality control. During his time at TruExchange as director of Engineering, Mr. Thomas built the engineering team and blueprinted the development process for the TruMarket™ trading engine.

"We are very pleased with the quality of Bob's work," said George McQuilken, CEO of TruExchange. "He has recruited a first class development team and created a product that is superior to any trading engine in its class. Bob has consistently met budget targets, schedule deadlines, and in addition, has expanded his responsibilities by working closely with customers and investors."

Bob Thomas has more than 20 years experience in the delivery of highly successful and complex software and hardware products. Prior to TruExchange, Mr. Thomas served at both Stratus Computer and Ascend Communications. In his early career with Stratus Computer, he was hardware engineering project manager and corporate program manager for several generations of high-end fault tolerant servers, including the introduction of the first RISC-based computer architecture in the history of Stratus Computer. Mr. Thomas received a B.S. in electrical engineering from Northeastern University. He currently resides in Carlisle, Massachusetts with his wife and daughter.

About TruExchange, Inc.

TruExchange™, based in Lexington, Massachusetts, is an enterprise software and services provider for online corporate and financial markets. TruMarket™ 2.0, its flagship product, is a real-time trading and matching engine that brings efficiency, flexibility, and visibility to electronic markets across industries. TruMarket automates existing business practices for online corporate markets through customizable bid/ask trading, auctions, RFQs, and negotiations, and delivers unmatched functionality for regulated financial exchanges, OTC markets, and broker-dealers trading futures, options, and other complex securities and derivatives.

TruExchange and TruMarket are trademarks of TruExchange, Inc.

For more information please contact:

Chris Kowalski
Marketing and Communications Manager
TruExchange, Inc.
[email protected]