William J. Moran Retires from eSpeed's Board of Directors; Board elects Albert M. Weis to serve as Audit Committee Chairman and Henry Morris to serve as Compensation Committee Chairman

Mr. Moran has served as an independent Director and Board membersince December 1999 and has most recently served as a member of theBoard's Compensation Committee as well as Chairman of the AuditCommittee. Mr. Moran retired in June of this year from his position asExecutive Vice President and General Auditor of J.P. Morgan Chase &Co.

Howard W. Lutnick, Chairman and CEO of eSpeed, Inc. said, "Onbehalf of the Board, I would like to thank Bill for the manycontributions that he has provided to the Firm and eSpeed'sdistinguished Board. While his inspirational leadership and dedicationwill be missed, we wish him and his family continued success, healthand happiness."

Following Mr. Moran's retirement, eSpeed's Board of Directors haselected Albert M. Weis, an independent Director and Board member ofeSpeed, Inc. since 2002, to serve as Chairman of the Audit Committee.Mr. Weis will continue to serve as a member of the Board'sCompensation Committee.

eSpeed's Board of Directors has also elected Henry Morris, anindependent Director and Board member of eSpeed, Inc. since 2003, toserve as Chairman of the Board's Compensation Committee. Mr. Morriswill continue to serve as a member of the Board's Audit Committee.

Effective today, the members of the Audit Committee consist ofMessrs. Albert Weis (Chairman), John Dalton, and Henry Morris, all ofwhom qualify as "independent" in accordance with the published listingrequirements of The Nasdaq Stock Market. The members of theCompensation Committee consist of Messrs. Henry Morris (Chairman),John Dalton, and Albert Weis.

About eSpeed, Inc.

eSpeed, Inc. (NASDAQ: ESPD) is the leader in developing anddeploying electronic marketplaces and related trading technology thatoffers traders access to the most liquid, efficient and neutralfinancial markets in the world. eSpeed operates multiple buyer,multiple seller real-time electronic marketplaces for the globalcapital markets, including the world's largest government bond marketsand other fixed income and equities marketplaces. eSpeed's suite ofmarketplace tools provides end-to-end transaction solutions for thepurchase and sale of financial and non-financial products overeSpeed's global private network or via the Internet. eSpeed's neutralplatform, reliable network, straight-though processing and superiorproducts make it the trusted source for electronic trading at theworld's largest fixed income and foreign exchange trading firms andmajor exchanges. To learn more, please visit www.espeed.com.

The information in this press release contains forward-lookingstatements within the meaning of Section 27A of the Securities Act of1933, as amended, and Section 21E of the Securities Exchange Act of1934, as amended. Such statements are based upon current expectationsthat involve risks and uncertainties. Any statements contained hereinthat are not statements of historical fact may be deemed to beforward-looking statements. Our actual results and the timing ofcertain events may differ significantly from the results discussed inthe forward-looking statements. Factors that might cause or contributeto such a discrepancy include, but are not limited to, the costs andexpenses of developing, maintaining and protecting our intellectualproperty, including judgments or settlements paid or received andtheir related costs, the possibility of future losses and negativecash flow from operations, the effect of market conditions, includingtrading volume and volatility, our pricing strategy and that of ourcompetitors, our ability to develop new products and services, toenter new markets, to secure and maintain market share, to enter intomarketing and strategic alliances, to hire new personnel, to expandthe use of our electronic system, to induce clients to use ourmarketplaces and services and to effectively manage any growth weachieve, the effects of the attacks on the World Trade Center onSeptember 11, 2001, and other factors that are discussed under "RiskFactors" in eSpeed's Annual Report on Form 10-K filed with theSecurities and Exchange Commission. We believe that allforward-looking statements are based upon reasonable assumptions whenmade; however, we caution that it is impossible to predict actualresults or outcomes or the effects of risks, uncertainties or otherfactors on anticipated results or outcomes and that, accordingly, youshould not place undue reliance on these statements. Forward-lookingstatements speak only as of the date when made, and we undertake noobligation to update these statements in light of subsequent events ordevelopments. Actual results and outcomes may differ materially fromanticipated results or outcomes discussed in forward-lookingstatements.