NEWS RELEASE

GAIN Capital, Inc. Named Finalist in Two Growth Company Of The Year Competitions

Firm Records Largest Reported Monthly Volume of Any Independent Online FX Trading Firm

WARREN, NJ - November 12, 2002

GAIN Capital, Inc. the premier independent provider of foreign exchange services, including direct-access trading and asset management, today announced recognition from two prominent regional technology organizations for growth, achievement, and product innovation. The firm has received finalist status from the New Jersey Technology Council (NJTC) as "Growth Company of the Year" and from the Eastern Technology Council, in partnership with PriceWaterhouseCoopers, as "Start Up Company of the Year." The award winners will be announced on November 22nd and December 3rd, respectively.

Key criteria for these awards include: solid demonstration of success (e.g., growth in revenue and profitability, expansion, etc.); product or service innovation; and management team and its ability and record of achieving success.

In addition, GAIN Capital reported continued growth in trade volume, reaching $32 billion for the month ending October 31, 2002 - the largest reported volume of any independent online FX trading firm and a more than two-fold increase from the $15 billion monthly volume reported by the firm for the month ending May 31, 2002.*

"GAIN's exponential growth in both revenue and net income over the past year firmly places us in the top echelon of fastest-growing technology firms in the region," stated Mark Galant, CEO and founder of GAIN Capital. "Since our inception, we have worked diligently to introduce new, technologically superior ways of dealing in foreign exchange while continually exceeding the expectations of our clients," continued Galant. "To be recognized by these organizations as one of the region's most progressive and successful technology companies is an absolute honor and validation of our persistent innovation in the online forex industry."

*Includes customer trades, rollovers, and counterparty transactions.

About GAIN Capital

GAIN Capital offers direct access to the global Foreign Exchange (FX) markets via a real-time internet-based trading platform. GAIN revolutionized the FX market by being the first online FX trading firm to allow clients to deal directly from live, streaming quotes. GAIN clients also enjoy 24-hour trading, interbank dealing spreads, no commission or transaction fees, and 50:1 leverage.

A recognized market leader in online FX, GAIN was named "Best Independent Online Foreign Exchange Trading System" by Global Finance magazine in June 2001. The firm now services clients from more than 70 countries around the globe, including fund managers, Commodity Trading Advisors (CTAs), and individual traders.

GAIN Capital is a registered Futures Commission Merchant (FCM), regulated by the Commodity Futures Trading Commission (CFTC), and is a member of the National Futures Association.

For more information, please visit http://www.gaincapital.com