Revenues for the nine months ended September 30, 2002 were $41,140,000, compared to $48,244,000 for the same period in 2001. Net income for the 2002 period was $1,225,000, or $.02 per share, compared to $9,985,000, or $.16 per share, in 2001. The decline in revenues in the 2002 period reflects reduced revenues from the Company's myTrack non-professional trading and market data services and from the Company’s professional market data services. These declines were partially offset by approximately $4 million in revenues from the Company's new Track ECN. In the second quarter of 2002, the Company wrote down its investment in two private companies aggregating $310,000, after taxes. The 2001 period includes after-tax gains of $1,920,000 from marketable securities and $720,000 from the sale of an Internet domain name.

Barry Hertz, Chairman and CEO, commented, "We are pleased with the growth of our Track ECN and the progress we are making in our efforts to collect fees from non-subscribers who access liquidity through NASDAQ. We believe that our continued participation in the market and our filing of several arbitration proceedings against non-subscribers are improving collections. Collections from non-subscribers are still less than we would like, but we now recover most of our ECN expenses. As a result, we recently increased the upfront rebate that we pay to subscribers who add liquidity from $2.00 per thousand shares to $2.25 per thousand shares. We expect that this will increase volume with current subscribers, as well as attract new subscribers.

"Further, we are very excited to be the first ECN with two pricing models. Our new no access fee model enables us to be in the first tier of liquidity providers on NASDAQ's SuperMontage, along with Market Makers. This second pricing model gives us the ability to attract traders who seek fast executions with anonymity."

The Company also owns and operates the Track ECN, an electronic communications network that allows traders to display and match limit orders for stocks. Track ECN offers subscribers a Rebate Model, which offers the highest published rebate in the industry and a Free Model, which offers no access fees to market participants who access its liquidity through NASDAQ's SuperMontage. Track ECN offers subscribers anonymous executions and speed. Both the Rebate Model and the Free Model participate in NASDAQ's SuperMontage. Because of its no access fee, the Free Model is offered in NASDAQ's first tier with market makers, providing subscribers with fast executions.

For professional investors, Track Data Securities offers proTrack, a direct access trading platform with fully integrated market data. proTrack offers unbiased trade routing, allowing clients control over where their orders are sent. proTrack is also available to broker-dealers as an execution platform.

For individual investors, Track Data Securities offers myTrack, a fully integrated, Internet-based online trading and market data system. myTrack’s direct access online trading has equity commissions starting at $12.95 per trade and allows users the choice of where to route their orders. myTrack also offers trading in options at all options markets, and over 6,000 mutual funds. In addition, futures trading in the E-Minis is available, with cross-collateralization of accounts. Futures trades are routed directly to the CME at $14 per contract per round trip.

For additional information, please contact Rafi Reguer, Vice President, Corporate Communications, at 718-522-0222 or by e-mail: rafi_reguer@trackdata.com.