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


FOR IMMEDIATE RELEASE

PFG joins Chicago Board of Trade to waive fees in e-metals
Spurring growth in new electronic precious metals futures

CHICAGO, November 29, 2004: Peregrine Financial Group, Inc. (PFG), in a move to help foster the growth surge in the Chicago Board of Trade’s electronic gold and silver futures, today announced that it will waive electronic trading fees entirely for the eCBOT precious metals through January 31. eCBOT also has waived exchange fees through January 31 for gold and silver, so PFG customers can conduct online trading in these contracts for free.

“It’s a rare fee holiday, but we are celebrating at last the successful launch of precious metals futures that can be traded electronically. In contrast to the pit-traded markets in New York, now personal traders and investors will experience the tremendous advantages of on-demand execution of their futures transactions, such as instant fill reports, and tight bid and ask spreads in Chicago’s electronic precious metals contracts,” said Russell R. Wasendorf, Sr., chairman and CEO of PFG.

PFG’s customers do about 80 percent of their futures trading online, and gold is among the top products for these individual traders, consistently ranking among the top five contracts in terms of the volume of positions held in PFG customers’ accounts.

“Electronic trading is so much more efficient,” said Wasendorf, “and the transparency of an electronic market has such benefit. When traders can look at their screens and see the bids and asks, and then execute orders so rapidly, there is no doubt that they will want to utilize electronically traded contracts versus pit-traded ones.”

“We fully support eCBOT in this important expansion effort and in their responsiveness to demand for electronic precious metals contracts. The exchange is continuing its great tradition of listening to and responding to customer needs, and because of it, we are able to fulfill the highest possible level of service to our sophisticated, online investors and traders,” Wasendorf added.

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

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