Cantor Fitzgerald Adds To Its High-Yield Team

New York – (October 4, 2007) – Cantor Fitzgerald & Co. has further strengthened its credit markets team with the hiring of Mark Lichtman as Managing Director in the new role as Head of High-Yield Sales and Trading, and Robert Wade as a Director of High-Yield Sales and Trading. Mssrs. Lichtman and Wade, who both join Cantor from BB&T Capital Markets, will report to Carmine Urciuoli, Head of Cantor’s Credit Department and Larry Haag, Head of Credit Sales.[br][br]In announcing their appointment, Howard W. Lutnick, Chairman and Chief Executive Officer of Cantor Fitzgerald, L.P., said, “We are committed to meet our customers’ requirements across a broad range of fixed income wwwucts. Mark and Rob bring to Cantor a distribution-based perspective in the high-yield market that we are confident will contribute to strengthening our customer relationships and further growing our credit business.”[br][br]“The recent turmoil in global credit markets does not signal a lack of interest in high-yield securities on the part of institutional investors.  On the contrary, they clearly remain interested and involved in the corporate credit sector.  We’re committed to helping our customers navigate the turbulent market and find investment opportunities in this security class,” said, Irvin Goldman, President and CEO of Cantor Fitzgerald Debt Capital Markets. [br][br]Mr. Haag said, “You build a business one customer at a time and Mark and Rob understand this concept, having applied it successfully to the high-yield and distressed corporate debt market for years.  With the added talent they represent, we’re significantly broadening our capabilities, as we continue building the best team of sales professionals possible.”