FOR IMMEDIATE RELEASE

Peregrine Financial Group Appoints
Michael Killian as Senior Vice President

Chicago, November 12, 2002 – Peregrine Financial Group, Inc. (PFG) today announced the selection of Michael Killian as Senior Vice President, Broker Dealer Division. Mr. Killian comes to PFG from Introducing Brokers Alliance, Inc. As Senior Vice President, Broker Dealer Division, a primary responsibility of Mr. Killian will be to introduce and acclimate affiliated broker dealers to the new security futures products. Mr. Killian is a twenty-seven year veteran of the investment and trading industry.

PFG Chairman & CEO, Russell R. Wasendorf, Sr., comments, “As the futures and securities industries and their products become more interrelated, it was important that we appoint someone of Michael’s stature and breadth of experience to head PFG’s efforts in this area.”

Prior to serving at Introducing Brokers Alliance, Inc., Mr. Killian was an Executive Vice President of ING Securities, Futures, and Options, Inc. Mr. Killian’s overseas experience includes seven years with Baring Securities (Japan) Ltd. where under his leadership the firm established a solid brokerage infrastructure and obtained futures memberships at the Tokyo Stock Exchange, Osaka Securities Exchange, and the Tokyo Financial Futures Exchange. Mr. Killian was elected as the first non-Singaporean board member of the Singapore International Monetary Exchange (SIMEX).

Mr. Killian also served as the Vice President and General Manager of Continental Illinois National Bank and Trust Company’s Singapore Branch, Continental’s first non-US brokerage unit. Within two years, the unit was SIMEX’s number one ranked member firm in terms of trade volume.

Mr. Killian holds an MBA from the University of Chicago in Finance and Human Behavior and a Bachelor’s Degree in Economics and Finance from Saint Joseph’s College, Rensselaer, IN.

Peregrine Financial Group, Inc., is a highly respected multi-product Futures Commission Merchant ranking among the top 40 in size, as measured by customer funds. Its proprietary BESTDirect electronic order routing system is used by both retail clients and institutional trading operations.

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.

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