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


FOR IMMEDIATE RELEASE


BEST Direct Forex trading system spurs retail trading interest
in cash foreign exchange markets

CHICAGO, Nov. 5, 2003: Peregrine Financial Group, Inc. (PFG) today announced that it has experienced significant growth in its forex division, called PFG Forex, spurred by the enhanced capabilities of its BEST Direct Forex online trading platform.

Individual traders benefit from the simplicity, speed and efficiency of electronic trading and the ability to make global foreign currency payments at rates formerly enjoyed only by corporate and institutional clients, according to Russ Wasendorf, Jr., head of the PFG Forex division. And, brokers and money managers increasingly are utilizing BEST Direct Forex to manage accounts and to execute block trades for their clients who need forex capabilities.

Wasendorf noted that the average value of PFG Forex lots was about US$100,000 through mid-2003, but size and value of transactions are increasing substantially. Dollar value of daily forex transactions through BEST Direct Forex currently averages about $20 million; Wasendorf projected this could easily double by the end of calendar 2003.

PFG Forex dealers serve as market makers, taking the other side of each customer transaction and then offsetting the risk in interbank markets. BEST Direct Forex delivers round the clock price quotes and liquidity in 12 foreign exchange spread strategies. About 75 percent of PFG Forex clients are located outside of the U.S., and have been introduced to the BEST Direct platform through brokerage affiliates in Kuwait, Mexico, Europe, Canada, and other global sites.

“We are enjoying an explosive growth phase in this product area and in PFG’s online customer base,” said Wasendorf. “Enhancements to the BEST Direct 7.0 online trading system have been very satisfying to current retail customers, and to brokers, while at the same time allowing us to provide superior customer care through our forex desk and a very knowledgeable client relationship team.”

Currency spreads offered by PFG Forex include:
  • Euro/US Dollar
  • British Pound/US Dollar
  • Aussie Dollar/US Dollar
  • New Zealand Dollar/US Dollar
  • Canadian Dollar/US Dollar
  • Swiss Franc/US Dollar
  • Japanese Yen/US Dollar
  • Mexican Peso/US Dollar
  • Euro/Swiss Franc
  • Euro/British Pound
  • Euro/Japanese Yen
  • British Pound/Swiss Franc

For more information on PFG Forex, please visit www.pfgforex.com.

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.