VENGROFF, WILLIAMS & ASSOCIATES, INC. ANNOUNCES NEW PARTNERSHIP WITH OPRA, OPTIONS PRICE REPORTING AUTHORITY

VWA contracted to provide receivables management solutions.

IRVINE, Calif., April 14, 2003 -- Vengroff, Williams & Associates, Inc. (VWA), the global leader in the receivable management industry, today announced a new partnership with OPRA, Options Price Reporting Authority for accounts receivable solutions.

VWAs current relationship with AMEX, The American Stock Exchange makes the new partnership a natural fit," Said Mark Vengroff, CEO of VWA. All of us at VWA are very enthusiastic about the new partnership."

We are very excited about our partnership with VWA. Their excellent reputation and proven track record within the financial industry has made this an easy decision for OPRA,." Said James P. Roche, Vice President Market Data Services, OPRA

We engaged VWA in 1999, and we have had a productive fruitful relationship since that time. VWA has done an excellent job for us," Said Michael DEmic, The American Stock Exchange, Controller.

The new partnership will create additional positions for VWAs Sarasota, Florida operations center and provide additional opportunities within the global market finance industry.

About Vengroff Williams & Associates, Inc.

Vengroff Williams & Associates, Inc. is a global leader and innovator for the receivables management industry. With more than 39 years of experience in asset management, the company is able to implement more sophisticated strategies to meet customer needs. The company offers a myriad of services such as third party services, credit investigations, liquidations, factoring, billing, consulting, outsourcing and other financial services. To learn more, visit us at www.vwainc.com.

About OPRA

OPRA disseminates market data for Chicago Board of Option Exchange, Philadelphia Stock Exchange, Pacific Stock Exchange, American Stock Exchange and International Securities Exchange. Vendors and Professional Subscribers report option market data service dissemination and usage to OPRA, which invoices and manages the receivables for the data usage.

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