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Contact:
Patricia Campbell
Peregrine Financial Group, Inc. (PFGBEST)
(312) 775-3411


FOR IMMEDIATE RELEASE

PFG Forex Trading Reaches New Record In 2004

Richard Chappetto excels as business development executive for PFG Forex Division

CHICAGO, Jan. 13, 2005 – Peregrine Financial Group, Inc. (PFG) today announced that PFG’s Forex Division executed more currency transactions in 2004 than any previous year. The company also credited its new forex business development executive Richard (Ric) Chappetto, who joined the company in September, as a force in advancing the company’s effort to broaden and deliver forex product and service capabilities to new and experienced traders.

Volume for the year rose to U.S. $28.4 billion spot forex traded, a 10-fold increase from 2003. "PFG attributes the volume increases seen in currency futures trading to the overall attraction of online trading, which makes speculative trading easier, cheaper, and more efficient. Also the explosive increase in value of foreign currencies due to the U.S. dollar downtrend has made foreign currency trading an enticing investment alternative. PFG’s customers have actively taken advantage of foreign currency price moves using real time prices they see on their screens from the PFG BEST Direct Forex™ trading platform," said Russ Wasendorf, Jr., chief operating officer of PFG and head of PFG’s Forex Division.

The PFG BEST Direct Forex application offers retail investors instant, 24-hour access to forex futures markets, and the advantage of real-time back office statements, instant online execution and commission-free trading. Accessibility through PFG’s electronic forex platform allows individual traders to participate in the largest markets in the world with a small amount of capital, yet a sufficient amount to make confident market decisions.

PFG’s Forex Division is a primary market maker in foreign exchange futures. It places real-time streaming quotes, an interactive charting package, world news, and up-to-the-minute account analysis all on one screen. This proprietary technology was built in-house at PFG, resulting in exceptional ability to respond to customer demands and service.

In conjunction with BEST Direct Forex, PFG offers clients the option of entering orders through its 24-hour service oriented dealing desk staffed by experienced trading professionals. The PFG Forex Division has global banking relationships which, along with its professional staff, ensure easy, efficient and competitive delivery of U.S. dollars or foreign currency and to provide up-to-the-minute rates for currency conversions. Unlike many banks that tend to charge large commission rates and conversion penalties to customers who wish to convert currency in increments other than one million dollars, PFG offers competitive rates on virtually any size transaction.

Ric Chappetto, prior to joining PFG, developed institutional sales of a forex trading system for GFT Forex, leveraging a number of international and domestic relationships. Prior to that, he was a partner and director general of MarketWise Trading School, headquartered in Mexico City, teaching prospective investors and traders to participate on U.S. exchanges. As chief financial officer of PC Quote, Inc. from 1993 to 1996, he oversaw all financial systems as well as international business development. Before that, he was president of FutureSource, a quotation provider for commodity exchanges.

PFG is a futures commission merchant with brokerage and branch offices around the globe. It offers a diverse range of trading and investor products and services. The company is a leader in alternative investment products including managed futures funds; full-service brokerage as well as self-directed trading; trader education and market research; and, direct, online futures trading through its BEST Direct™ platform which links into exchange engines worldwide. Please visit PFG for more information on currency futures products and services at www.pfgbest.com or link directly to the PFG Forex Division at www.forexdealer.com.

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