Leading Financial Services IT Professional Joins eSpeed

eSpeed, Inc. (NASDAQ: ESPD), a leading developer of electronic marketplaces and related trading technology for the global capital markets, announced that Yevette Tierney has joined the firm as Chief Information Officer. Based in eSpeed’s New York offices, Ms. Tierney reports directly to Howard W. Lutnick, Chairman, Chief Executive Officer and President of eSpeed. Mr. Lutnick said, "The combination of eSpeed’s innovative, proprietary trading technology and Yevette’s deep experience in product development and infrastructure management will be an important driver in eSpeed’s ability to anticipate and meet our clients’ electronic trading requirements.” Paul Saltzman, eSpeed’s Chief Operating Officer added, "We’re extremely pleased that a professional of Yevette’s caliber has joined our team. She has exceptional insight about what our customers need and want, and equally important, shares our commitment to excellence in client service.” Ms. Tierney said, "I’ve always been immensely impressed with eSpeed’s pioneering technology and definitive portfolio of tools serving the global capital markets. I look forward to working with Howard, Paul, and the other members of our team as we further grow eSpeed’s government bond business and continue to extend our products and services into other asset classes.” Ms. Tierney previously held global product development, infrastructure, client service and operations management positions at Bloomberg, reporting directly to the CEO. She was responsible for software development of systems, applications, and the technology platform of Bloomberg television, radio, and multi-media services. Ms. Tierney received a B. Eng. degree in electrical engineering and a master’s in information systems from Stevens Institute of Technology. About eSpeed, Inc. eSpeed, Inc. (NASDAQ: ESPD) is a leader in developing and deploying electronic marketplaces and related trading technology that offer traders access to the most liquid, efficient and neutral financial markets in the world. eSpeed operates multiple buyer, multiple seller real-time electronic marketplaces for the global capital markets, including the world's largest government bond markets and other fixed income and foreign exchange marketplaces. eSpeed's suite of marketplace tools provides end-to-end transaction solutions for the purchase and sale of financial products over eSpeed's global private network or via the Internet. eSpeed's neutral platform, reliable network, straight-through processing and superior products make it the trusted source for electronic trading at the world's largest fixed income and foreign exchange trading firms and major exchanges. To learn more, please visit www.espeed.com. Discussion of Forward-Looking Statements by eSpeed, Inc. The information in this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Our actual results and the timing of certain events may differ significantly from the results discussed in the forward-looking statements. Factors that might cause or contribute to such a discrepancy include, but are not limited to, our relationship with Cantor Fitzgerald and its affiliates, the costs and expenses of developing, maintaining and protecting our intellectual property, including judgments or settlements paid or received and their related costs, the possibility of future losses and negative cash flow from operations, the effect of market conditions, including trading volume and volatility, our pricing strategy and that of our competitors, our ability to develop new products and services, to enter new markets, to secure and maintain market position, to enter into marketing and strategic alliances, to hire new personnel, to expand the use of our electronic system, to induce clients to use our marketplaces and services and to effectively manage any growth we achieve, and other factors that are discussed under ‘‘Risk Factors’’ in eSpeed's Annual Report on Form 10-K filed with the Securities and Exchange Commission. We believe that all forward-looking statements are based upon reasonable assumptions when made; however, we caution that it is impossible to predict actual results or outcomes or the effects of risks, uncertainties or other factors on anticipated results or outcomes and that, accordingly, you should not place undue reliance on these statements. Forward-looking statements speak only as of the date when made, and we undertake no obligation to update these statements in light of subsequent events or developments. Actual results and outcomes may differ materially from anticipated results or outcomes discussed in forward-looking statements.