London - Reuters, the global information, news and technology group, announced today that Instinet, its wholly owned electronic brokerage subsidiary, has filed a third amendment to its S-1 Registration Statement for its proposed initial public offering (IPO) with the US Securities and Exchange Commission (SEC).

This amended registration statement contains a price range of US$11.50 to US$13.50 per share (amended from the previous range of US$11 to US$14 per share) with respect to an offering of 29,500,000 shares of Instinet's common stock (33,925,000 shares if the underwriters exercise their over-allotment option in full). As previously announced, it is anticipated that the IPO will be for a maximum of 14.1% of Instinet's capital stock. Reuters expects that the offering of Instinet's shares will be completed and trading will commence by the end of May.

Instinet is the world's largest electronic agency securities broker, trading in 40 securities markets, with membership of 20 exchanges throughout North America, Europe, and Asia. It is headquartered in New York and has eight other global offices. Founded in 1969, Instinet was acquired by Reuters in 1987 and has grown substantially under Reuters ownership in both US and international securities markets.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such State.

The amended S-1 Registration Statement is available to the public on the SEC's internet site (http://www.sec.gov).

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Peter V Thomas
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