Founded in 1996 by the developers of the first online trading system, Automated Financial Systems delivers the best, most affordable software, service, and support for brokerages. Focused on offering solutions that positively impact revenue, increase productivity or streamline costs, Automated Financial Systems works closely with its brokerage customers to solve business challenges by leveraging a uniquely flexible and innovative combination of market insight, technology expertise, packaged and customized solutions, and professional services. Committed to empowering every brokerage with the same state-of-the-art technology leveraged by Wall Street's largest firms at a fraction of the cost, Automated Financial Systems has helped propel customers' online offerings to the top of Barron's annual brokerage survey with four star industry rankings.

With multiple revenue streams, consistent levels of profitability and an impressive roster of satisfied, industry-leading brokerage customers, Automated Financial Systems has a proven track record of success. All customers benefit from direct access to Automated Financial Systems' seasoned executives, including the company's founders, and premium levels of customer service and technical support from Automated Financial Systems' dedicated team of talented professionals.

Automated Financial Systems' proven online products singularly meet the business and technology requirements of brokerages and clearing organizations seeking robust trading functionality, real-time market and account data, integrated portfolio management and customized middle office solutions. Its reliable systems give every brokerage the ability to increase productivity and customer reach, reduce time to market, improve performance, generate revenue and attract and retain the best investment professionals. Based on an open architecture, Automated Financial Systems' robust, proven software integrates directly with the back office and scales to meet each brokerage's growing needs.

Automated Financial Systems' newest product offering, Investpoint, is the only affordable investment professional platform available today that meets the needs of independent registered representatives, investment advisors, and full service retail brokers. As the only comprehensive alternative for brokerages, Investpoint gives investment professionals access to a breadth and depth of data not previously available, including tax lot accounting, real-time aggregated account status, basket and block trading, streamlined new account-opening, and interactive reporting. For the first time all brokerages can offer investment professionals access to advanced portfolio management and robust trading functionality typically reserved for the industry's largest firms. As a result, Investpoint will enable specialized firms to broaden their offerings to attract and retain the best investment professionals.

Automated Financial Systems' complete set of products include:

• Investpoint: Comprehensive browser-based solution for investment professionals

• Prospero Retail: Turn-key online trading for individual investors

• Prospero Pro: Browser based account access and trading for brokers

• Prospero Wireless: Wireless online brokerage system

• Tempest IVR: Touch-tone telephone trading system

• Ariel Administration Module: Centralized administration for all AFS products

Deployed by some of Wall Street's most recognized firms, and available through service bureau or enterprise software licensing, all of the company's brokerage solutions are flexible, dynamic and database-driven.

Automated Financial Systems' newest product offering, Investpoint is now available and can be deployed in less than 60 days through AFS' existing infrastructure and connectivity to major back offices. Advanced portfolio functionality including basket trading, block trading, and average cost modules will be available in Q3 '02. Pricing is customized to meet any firm's cost structuring requirements with a typical cost of under $150 per investment professional per month, and includes Automated Financial Systems' premium customer service and technical support.

Contact your CAPIS salesperson at 800.247.6729 or 214.720.0055, or call Paul Hartnett with Automated Financial Services at 212.771.1942.

Website: www.automatedfinancial.com