NEW YORK, Jan 27, 2000 (BUSINESS WIRE) -- A.B. Watley Group Inc.
(NASDAQ: ABWG), premier provider of online and Institutional trading
services through its brokerage firm A.B. Watley, Inc.
(www.abwatley.com), today announced the retention of Wasserstein
Perella & Co., Inc. (www.wassersteinperella.com) as investment banker
and strategic advisor for the Company. Under the terms of the
agreement, Wasserstein Perella will provide advice and assistance to
A.B. Watley in regards to potential market opportunities such as
partnerships, alliances and acquisitions.
Michael Biondi, Chairman and CEO of Wasserstein Perella & Co., Inc.
commented, "While operating in a highly competitive marketplace, A.B.
Watley has been able to grow its business internally at an impressive
rate. We believe that Watley has demonstrated the effectiveness of its
business model and can continue to grow aggressively as we help Watley
to evaluate and take advantage of various strategic opportunities. We
believe this is a wonderful opportunity to work with an exciting, young
e-commerce company."
Steven Malin, Chairman and CEO of A.B. Watley stated, "We are currently
involved in a number of strategic ventures and Wasserstein's experience
in advising growth companies such as ourselves made them the natural
selection for us."
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