Chapman Capital L.L.C., the premiere investment advisor to two investment funds that together own 9.3% of the Class A shares of eSpeed, Inc. today here announced of its demand that eSpeed's non-affiliated owners should be granted consent to replace eSpeed directors Albert M. Weis, John H. Dalton, Barry R. Sloane, and Barry M. Gosin on eSpeed's Board of Directors at the Company's 2007 Annual Meeting of Stockholders. In addition, the Chapman Capital reiterated its demands that the Board should retain an independent auditor at the earliest to review the Joint Services Agreement, compelling the conversion of all Class B common shares into Class A common stock, and engage an investment bank to maximize shareholder value via an auction of the Company.

Mr. Robert L. Chapman, the Jr., Managing Member of Chapman Capital, while speaking to the newsroom commented, "Chief Executive Howard Lutnick's three-kingdom reign over Cantor Fitzgerald, eSpeed and BGC Partners appears so infested with potential conflicts of interest and incestuous inter-company transactions that a completely new set of corporate governors may be required to exterminate any vermin from eSpeed's board room. Chapman Capital finds it astonishing that Mr. Lutnick may believe he retains the residual credibility necessary to bedazzle a new group of investors in the proposed BGC Class A concoction after stupefying eSpeed Class A shareholders with years of under performance and apparent disrespect."

In reference to the Chapman Capital's demand for the immediate auction of eSpeed, Mr. Chapman added, "The non-return of 24 straight business days of telephone calls from eSpeed's largest Class A owner is something one might have expected from multi-kingdom conflicted tyrants such as Hollinger International's Conrad Black, but not someone as conscious of his public reputation as Mr. Lutnick. Moreover, today's disclosure of the seemingly impulsive rejection of Tullett Prebon Plc's premium acquisition proposal has done nothing but heighten our concerns that Napoleonic behavior continues to be condoned by eSpeed's director fiduciaries."

Chapman Capital has restated the need for eSpeed to track the path of fellow Delaware-incorporated public companies like Conoco Inc., Agere Systems Inc. and Pacific Health Systems, Inc. by means of collapsing the dual voting ownership structure. The Chapman Capital is confident in its belief that the structure of dual voting ensconces the management of eSpeed and seems to be obstructing at least one bid for the change-of-control of the Company.