London – Reuters, the global information, news and technology group, announced today that Instinet, its wholly owned electronic brokerage subsidiary, has filed an amendment to the S-1 Registration Statement for a proposed initial public offering (IPO) with the US Securities and Exchange Commission (SEC). This follows comments from the SEC on the initial filing and is part of the normal process towards an IPO.

The amended S-1 Registration Statement gives an indicative price range for the IPO of US$11.00 - US$14.00 per share for an anticipated maximum of 33,925,000 shares (including 4,425,000 shares that the underwriters have an option to purchase to cover over-allotments), which would constitute approximately 14.1 % of Instinet's capital stock outstanding post-IPO. Instinet filed the initial S-1 Registration Statement with the SEC on 8 February this year.

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.

Peter Job, Reuters Chief Executive, said: "This amendment to the S-1 Registration Statement takes us one step closer to the IPO for Instinet, which we still expect to take place in the first half of this year."

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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Contact:

Geoff Wicks
Director, Corporate Relations
geoff.wicks@reuters.com
Tel: +44 (0) 20 7542 8666

Peter V Thomas
Director, Media Relations
peter.v.thomas@reuters.com
Tel: +44 (0) 20 7542 4890

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