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


FOR IMMEDIATE RELEASE

New CTA Challenge to Begin June 1, 2006

PFG Sponsors Trading Competition, Commits $2 Million In Managed Accounts

CHICAGO, May 18, 2006: Peregrine Financial Group, Inc. (PFG) begins another new CTA Challenge on June 1, 2006 to identify and showcase Commodity Trading Advisor (CTA) talent, strategies and techniques.

Each CTA Challenge lasts three months, with successive quarterly challenges beginning June 1, September 1 and December 1. The March 1 to May 31, 2006 quarterly contest is coming to a close and winners will soon be announced.

The winner of each quarterly CTA Challenge, based on risk-adjusted return, will be awarded the opportunity to trade a $250,000 managed account for PFG. This sizable allocation helps further establish the track record for the CTA. At the conclusion of the full year of challenges, the first- and second-place winners from each quarter participate in a six-month CTA Championship Showdown March 1 to August 31, 2007. The winner from this field of eight CTA finalists will be given the opportunity to trade a managed account of $1 million for PFG.1

Entrants trade their own strategies. This is a live trading event, created to further PFG’s strategic movement into the managed futures arena. “The purpose of the CTA Challenge is to identify and help develop talented futures and foreign exchange fund managers and to respond to our clients’ demand for alternative investment vehicles,” said Herb Kral, director of PFG Managed Futures.

PFG Chairman and CEO Russell R. Wasendorf, Sr., added that “PFG continues to attract emerging, accessible and risk-appropriate investment programs through the CTA Challenge, now in its fourth year.” Wasendorf added that PFG can help a CTA that has demonstrated consistent, strong returns by marketing the strategy through its customers, brokers and affiliate offices in 80 countries.

PFG is one of the largest non-clearing U.S. futures commission merchants, with brokerage and branch offices in more than 20 countries. PFG is an industry leader in trader education and online futures trading through its BEST Direct™ platform, the first to deliver customer orders to the CME’s Globex engine in 1998. PFG offers a diverse range of trading and investment products and services including managed funds and other alternative investments, full-service futures brokerage, and forex products and services. Please visit www.pfgbest.com.



1Certain conditions and trading parameters apply.