TFS Weather Division Places Midwestern Precipitation Basket

Thursday, May 2, 2002 - Stamford, CT. - Global OTC broker TFS announced today that its weather derivatives desk had been selected among a "short list" to exclusively represent a relatively new entrant to the weather market with a Request for Quotation/Proposal for a multi-station precipitation basket beginning in June 2002. TFS placed the structure in less than a week, utilizing one of various options presented by the client at negotiated terms. The structure will be validated using several stations in the Mid-west.

This particular structure is somewhat unique in that it addresses precipitation volatility, which directly affects agricultural production. Demand for the operational needs of agriculture, in turn, is directly affected by the success of the growing season.

Providing the coverage is Societe Generale. While maintaining leadership in the weather market embracing mainstream structures, Societe Generale has distinguished itself by exploring and implementing non-traditional weather structures serving varied purposes and industries on a worldwide basis.

TFS Weather Desk Manager, Kendall Johnson, believes that this particular entry into the market speaks well for both the near and long-term future of weather trading. "We are encouraged to see interest coming from a widening spectrum of users. I expect the completion of innovative structures such as this to serve as touchstones to guide future participation in the weather market from various industries" Johnson said.

TFS clients may contact Kendall Johnson on the TFS Weather desk in Stamford, Connecticut by telephone 1-203-351-9520 with questions and pricing information for both the U.S. and International weather structures.

TFS PRESS CONTACTS
NEW YORK Lisa Ruiz 1 212 943-0583

About TFS
Founded in 1985, TFS is a market leader in the inter-dealer brokering of OTC physical and derivative products. With offices in the world's major financial centers, the Company covers global foreign exchange, commodity, equity and pulp & paper markets. Additionally, the TFS Energy Division brokers a full spectrum of energy and energy-related markets with OTC businesses operational in coal, electricity, emissions, natural gas, oil, and weather. Affiliated companies include energy consultants Capstone Global Energy, global recruitment specialists The Recruitment Company and venture capital firm Equitek Capital.

TFS is listed on the French Stock Exchange (Second Marché: TFS), and is part of Compagnie Financiere Tradition, which is headquartered in Lausanne, Switzerland. Both companies are, in turn, part of Viel & Cie in Paris, France, which is continental Europe's top financial brokerage firm.

Please visit www.tfsbrokers.com for more information.