Hermes Pensions Management Limited Goes Live on Macgregor Trade Order Management System May 13, 2002 – Boston/London – Macgregor™, a global provider of buy-side trade order management systems (OMS) and FIX network services, formally announced today that Hermes Pensions Management Limited (Hermes) has gone live on the Macgregor Financial Trading Platform™ (MFTP™). The implementation was completed in January with a total of 61 users. MFTP is being used for all types of trading including equity, fixed income, and derivatives. Hermes is also utilizing the system’s portfolio management and pre-trade compliance modules. Moving forward, Hermes is looking to add FIX capabilities and plans on implementing the Macgregor FIX Network (MFN). Alan M. Cook, Project Manager, Hermes, commented, "This was one of our most successful system implementation experiences to date. We stayed broadly on time and on budget throughout the project. Macgregor’s technology has strengthened our order management process at every stage from modeling to trade confirmation. It has also facilitated the introduction of a Centralized Equity Dealing Desk." Kevin Milne, EVP, Macgregor, stated, "Hermes was looking for a technology vendor who could work in partnership with their own team to manage the implementation process. At Macgregor, we have the expertise and resources to ensure successful system implementation, which means we can smoothly transition clients into an STP environment. We are delighted to have Hermes live on MFTP and look forward to bringing them FIX network connectivity to brokers and ECNs via MFN." About Hermes Hermes Pensions Management Limited, with £46bn under management, is one of Britain’s most significant pensions management operations. It is wholly owned by the BT Pension Scheme, the country’s largest, and manages assets for several other major pension funds including the Consignia Pensions Plan. Through its subsidiaries, Hermes provides a full range of pension fund management services, incorporating asset allocation advice, asset research and discretionary portfolio management, property investment, revenue collection and investment accounting. About Macgregor Founded in 1991, Macgregor has set the standard in trade order management systems for the global buy-side community. Macgregor’s unique architectural approach to developing workflow solutions is embodied in its Extended Order Management System, which combines powerful decision support, compliance, trading and post-trade tools with a fully integrated and supported FIX network (MFN). This system help move information through the entire investment process with increased speed, accuracy, and efficiency, resulting in better investment performance. Macgregor's extended architecture affords its clients and partners the efficiencies and power that can only be achieved through a large, diverse and well-connected community of users. With over 220 employees located in offices in Boston, New York, San Francisco, London and Madrid, Macgregor helps more than 70 of the largest institutions in the world manage over $5.5T in global assets.     Headquarters/Boston Macgregor 321 Summer St., 3rd Floor Boston, MA 02210-1710 Phone: (617) 239.8700 Fax: (617) 521.9059 New York Macgregor 44 Wall Street, 5th floor New York, N.Y. 10005 Phone: (917) 344.5500 Fax: (917) 344.5501 London Macgregor No. 1 Cornhill London, EC3V 3ND UK Phone: +44 (0)20 7743 6240 Fax: +44 (0)20 7743 6241 Please visit our site at http://www.macgregor.ws/ Contact: Kevin Milne, EVP Macgregor 020.7743.6242 kmilne@macgregor.ws   Contact: Lily Silverman, Director PR Macgregor 617.239.8776 lsilverman@macgregor.ws