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


PFG names Nolan Schiff to Direct Managed Foreign Exchange Business

Technology leadership is attracting managers and clients for ease of execution

CHICAGO, August 8, 2005: Peregrine Financial Group, Inc. (PFG), in a move to speed its growth in managed foreign exchange, has appointed Nolan Schiff to enhance and expand its efforts in this product sector. As director of PFG's managed forex programs, Schiff brings large, successful foreign exchange money managers to retail customers and institutional customers by providing the facilities to process and allocate transactions. The products will be made available to PFG's extensive distribution network of introducing brokers (IBs) and branches.

Money managers using PFG's foreign exchange technology can execute block orders, accommodating multiple allocation methods. The BEST Direct FX platform allows managers to monitor their clients on an up-to-the-minute basis, providing user-friendly statements and month-to-date, year-to-date, and life-to-date returns as well as account services for introducing parties. PFG has its own proprietary web services portal for the applications, and leads the industry in meeting customers' back office needs. PFG's managed accounts are automated from the initial opening using e-signatures, and everything can be done online - trade recording, adding, or re-allocating assets to various systems.

"We intend to be a 'home' for foreign exchange customers, serving a variety of needs through our automated systems, managed foreign exchange, and self-directed products," said Russ Wasendorf, Jr., PFG's chief operating officer and head of the PFG Forex Division. The company's goal is to double assets under management in foreign exchange accounts within a year, he said.

Schiff added, "With numerous commodity trading advisors (CTAs) participating in our managed foreign exchange program, clients of PFG can allocate to any one of them at the click of a button. Customers with accounts starting at $5,000 will experience the same, high-quality service as institutions allocating trades of $50 million."

Schiff came to PFG from R.J. O'Brien in Chicago, where he was vice president of foreign exchange and business development. Throughout his career there, he set up a scalable trade entry system, established the internal process to handle rapid client growth, and formed its retail foreign exchange entity. Before that he was at Refco F/X Associates, LLC as vice president of foreign exchange, responsible for customer service. In one year's time at Refco, he substantially advanced their client equity in foreign exchange markets while attracting some 40 IBs to the firm.

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 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. To learn more, visit