GFI Group Inc. Comments on Court Ruling

NEW YORK, July 30, 2008 /PRNewswire-FirstCall via COMTEX/ -- GFIG | Quote | Chart | News | PowerRating -- GFI Group Inc. (Nasdaq: GFIG) confirmed today that its application for a preliminary injunction against Tradition Asiel Securities and former employees of GFI has been denied by the Supreme Court of the State New York. In denying the injunction request, the Court reasoned that because GFI's customers did not stop doing credit derivative business with GFI and GFI had filled a number of the credit brokerage positions, GFI was not irreparably harmed. The Court further ruled that the damages GFI sustained due to Tradition's actions are calculable and can be determined in future proceedings.

GFI stated that while it is disappointed by the Court's ruling, the Company will vigorously defend its legal rights and proceed with its claims for monetary damages against Tradition, former employees and others responsible for the wrongdoing. It is also considering its grounds for appeal.

The Company further stated that it has substantially re-staffed a significant portion of its North American credit products team with experienced individuals led by Jim Higgins, a highly regarded professional in the global credit markets. The Court's ruling does not alter the rebuilding efforts of GFI's credit operations, which have been underway since April.

About GFI Group Inc.

GFI Group Inc. (http://www.GFIgroup.com) is a leading inter-dealer broker specializing in over-the-counter derivatives products and related securities. GFI Group Inc. provides brokerage services, market data, trading platform and analytics software products to institutional clients in markets for a range of credit, financial, equity and commodity instruments.

Headquartered in New York, GFI was founded in 1987 and employs more than 1,700 people with additional offices in London, Paris, Hong Kong, Seoul, Tokyo, Singapore, Sydney, Cape Town, Dubai, Tel Aviv, Calgary, Englewood (NJ) and Sugar Land (TX). GFI provides services and products to over 2,200 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFI(TM), GFInet(R), CreditMatch(R), GFI ForexMatch(TM), EnergyMatch(R), FENICS(R), Starsupply(R), Amerex(R), and Trayport(R).

Forward-looking statements

Certain matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "might," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: acquisitions by us of businesses or technologies; economic, political and market factors affecting trading volumes, securities prices or demand for the Company's brokerage services; competition from current and new competitors; the Company's ability to attract and retain key personnel, including highly-qualified brokerage personnel; the Company's ability to identify and develop new products and markets; changes in laws and regulations governing the Company's business and operations or permissible activities; the Company's ability to manage its international operations; financial difficulties experienced by the Company's customers or key participants in the markets in which the Company focuses its brokerage services; the Company's ability to keep up with technological changes; and uncertainties relating to litigation. Further information about factors that could affect the Company's financial and other results is included in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE GFI Group Inc.

http://www.gfigroup.com

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