NEWS RELEASE

GAIN Capital, Inc. Named NJTC "Growth Company of the Year"

Firm Recognized for Growth; Technological Innovation

WARREN, NJ - December 1, 2003

GAIN Capital, Inc. the premier independent provider of foreign exchange services, including direct-access trading and asset management, has been named "Growth Company of the Year" by the New Jersey Technology Council (NJTC), a New Jersey -based association representing approximately 1,200 member companies.

The award was announced on November 21st at the New Jersey Technology Council's 8th Annual Awards Gala. GAIN Capital was chosen by the NJTC out of three finalists in the "Growth Company of the Year" category. Firms eligible for the award had to demonstrate the following criteria: solid growth in revenue, profitability and expansion initiatives; product or service innovation; credentials of management team and its collective ability and record of achieving success.

Of particular note, GAIN's trading volumes increased by more than 100% compared to the same period last year exemplifying the firm's commitment to anticipating the needs of forex traders and providing them with innovative trading technology solutions.

"Our continued growth over the past year reflects the hard work and dedication of our employees," stated Mark Galant, CEO and founder of GAIN Capital. "It is both an honor and privilege to be recognized by such a distinguished organization as the NJTC."

About GAIN Capital

GAIN Capital offers direct access to the global Foreign Exchange (FX) markets via a real-time, internet-based trading platform. Founded by a group of Wall Street veterans, GAIN revolutionized the foreign exchange market by being the first online FX trading firm to allow clients to deal directly from live, streaming quotes.

GAIN is the largest Futures Commission Merchant (FCM) - Forex Dealer Member in terms of both total reported volume and open customer positions. GAIN's monthly volume currently exceeds $35 billion, which is the highest publicly reported volume of any Forex Dealer FCM.* In addition, GAIN's open customer positions are several times larger than any other Forex Dealer FCM. Servicing clients from more than 80 countries around the globe including fund managers, Commodity Trading Advisors (CTAs), and individual traders, GAIN clients have access to 24-hour trading, interbank dealing spreads, no commission or transaction fees, 50:1 leverage, market commentary, charting/modeling and complete back-office services.

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.

*Includes customer trades, rollovers, and counterparty transactions.