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| Instinet Group Incorporated |
| 875 Third Avenue, New York, NY 10022 * (212) 310-9500 |
| Business Description | The company is the world's largest electronic agency securities broker and have been providing investors with electronic trading solutions for more than 30 years. |
| Offering Information Company has | |||
| Trading As | INET (NASNTL) | Industry | Financial (SIC 6211) |
| Type of Stock Offered | Common Shares | Filing Date | 2/8/2001 |
| Domestic Shares Offered | 32,000,000 | Offer Date | 5/17/2001 |
| Foreign Shares Offered | 0 | Filing Range | $11.50 - $13.50 |
| Company Shares | 32,000,000 | Offer Price | $14.50 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.920 |
| Gross Proceeds | $464,000,000 | Selling | $0.520 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 236,400,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Deutsch Banc Alex. Brown | Co-manager | (410) 727-1700 |
| J.P. Morgan & Co. | Co-manager | (212) 648-0517 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| WR Hambrecht & Co | Co-manager | (415) 551-8600 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1997 | 12/31/1998 | 12/31/1999 | 9/30/1999 | 9/30/2000 | ||
| Revenues | - | - | 714.648 | 842.169 | 969.444 | 709.376 | 1,034.932 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | 141.239 | 159.897 | 136.118 | 108.396 | 107.352 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 17.84 | 15.113 | 45.89 | ||
| Net Income Growth (%) | - | - | 13.21 | -14.87 | -0.96 | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | 19.76 | 18.99 | 14.04 | 10.37 | 15.28 |
| Cash Flow - Oper. | 247.29 | 47.34 | -96.63 | ||||
| Cash Flow - Inv. | -181.36 | -163.99 | -104.48 | ||||
| Cash Flow - Fin. | -55.73 | -38.66 | 49.36 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/2000 | Financial Ratios | ||||
| Total Assets | 2,278.54 | Current Assets | - | Current Ratio | - |
| Total Liab. | 1,390.08 | Current Liab. | - | Debt Ratio | 61.01% |
| Total Equity | 888.47 | Working Cap. | - | Debt to Equity Ratio | 1.56 |
| Cash | 199.87 | Return on Assets | 4.71% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for repayment of indebtedness, that is owed to Reuters, and general corporate purposes including working capital, capital expenditures and acquisitions and investments in other companies. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Cleary, Gottlieb, Steen & Hamilton |
| Bank's Law Firm | Weil, Gotshal & Manges |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Reuters Group PLC | ||
| Note: represents ownership of 5% or more prior to the offering. | ||