Competition will help to identify emerging CTAs

CHICAGO, February 25, 2003 – Peregrine Financial Group, Inc. (PFG) announced today at the Managed Fund Association’s Conference in Miami, Florida a contest for emerging Commodity Trading Advisors (CTAs).

The competition, CTA Challenge ’03, is a product of the newly established alliance with Trading Source, Inc. (TSI) (see release: PFG Enters Managed Funds Market 2.25.03).

Challenge ‘03 was created by the PFG/TSI Alliance as part of their CTA development objective. For the purposes of this competition, emerging CTAs is defined as those having less than $1 Million under management.

CTA Challenge ’03 begins in April and runs through the fall. CTAs will trade their own strategies during that time. The winner of the contest will receive a $1,000,000 allocation from institutional investors selected by the PFG/TSI Alliance.

Russell Wasendorf, Sr., PFG Chairman and CEO said, “PFG is known for its dedication to education and we believe that this competition is part of that effort to finding emerging CTAs and giving them the opportunity to hone their skills.”

Page 2/PFG CTA Contest Release 2.25.03

Neil J. Aslin, PFG President, said, “This competition is another product of our alliance with TSI and we are very excited about how it will help us find CTAs ready to take the next step in managed funds. We are pleased with how it fits with our TSI alliance and long-term goal to become more involved in the managed money arena.”

Peregrine Financial Group, Inc., is a highly respected multi-product broker and leader in global derivatives and alternative investment markets. Over the years, PFG has earned a reputation as one of the finest providers of quality educational platforms for the individual investor. PFG offers a full spectrum of investment services designed to meet the broad range of needs in today's challenging financial environment.