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


FOR IMMEDIATE RELEASE


PFG Plants Flag in NYC with Forex
and Funds Management Operations

Hires industry veteran Jonathan Siegel
and renowned forex team

CHICAGO, April 13, 2004 – Peregrine Financial Group, Inc. (PFG) today announced expansion of its foreign exchange and fund management operations with a new office and service capabilities geared to institutions and large money management firms. PFG opened a New York City office on March 1, 2004, and named Jonathan Siegel as senior vice president of PFG’s New York Operations to lead the new team, which will have headquarters at 590 Madison Avenue.

PFG has recruited a core group of five forex traders from the Royal Bank of Canada to provide execution capabilities in interbank foreign exchange. They are Emilio DeBeuriis, Eileen Tombasco, Charles Sciametta, Richard Schack, and Christopher Romano.

“Our New York City operations establish PFG’s entry into institutional business, and we have recruited some of the best names in the business to build our operation in the world’s financial capital,” said Russ Wasendorf, chairman and CEO of PFG. “Jon Siegel is well known and respected in the global derivatives industry, and our forex traders have operated as a forex team together for seven years. We are delighted to welcome them aboard as we expand into this strategic business initiative.”

Neil J. Aslin, president of PFG and president of PFG’s Global Funds division said PFG’s clients range from major commodity trading advisors (CTAs) to foreign corporations, to public pension funds. “Demand is very broad, and growing rapidly for our services. PFG will strategically expand from executing interbank foreign exchange to executing for institutions in the futures markets,” Aslin stated. PFG has a retail forex platform and a variety of currency products for its online traders and personal investors, called BEST Direct Forex™. It built upon the separate but parallel BEST Direct platform to create institutional execution capabilities, Aslin added.

Siegel has depth of experience in institutional money management, futures and brokerage. He most recently was with Northfield Trading LP, a large, Denver-based money manager. In 1998, he founded the Alternative Asset Consulting and Marketing Group at ING Barings Furman Selz. Prior to that, he was president and CEO of Tricon Advisory Services, LLC, an FCM which grew into a thriving brokerage. The firm was acquired by Daiwa Securities America, Inc. Before that, Siegel directed New York business activities for Gelderman, Inc., a wholly owned subsidiary of Conagra, Inc. He achieved recognition for his professional management of institutional accounts at Merrill Lynch and at EF Hutton earlier in his career. Siegel holds a bachelor’s degree in Economics from Yale University, and has Series 3,7,24 and 63 registrations. He has served on the boards of the Starfish Foundation and New Jersey Philharmonic Orchestra.

PFG is a futures commission merchant with brokerage and branch offices around the world. It offers a diverse range of trading and investor products and services. The company is a leader in alternative investment vehicles including managed funds, full-service brokerage, trader education, research, and direct online futures trading through its BEST Direct platform. Visit PFG on the Web at www.pfgbest.com.



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