eSpeed Announces Stockholder Vote in Favor of Merger with BGC Partners

  
    
  
  
    
      eSpeed, Inc. (NASDAQ: ESPD), a leading developer of electronic 
      marketplaces and related trading technology for the global capital 
      markets, today announced that eSpeed’s 
      stockholders have approved the Company’s 
      merger with BGC Partners.
    
    
      At eSpeed’s special meeting of stockholders 
      held earlier today, of those voting, stockholders representing 
      approximately 99.5% of the voting power of eSpeed’s 
      shares adopted the Agreement and Plan of Merger, dated as of May 29, 
      2007, as amended as of November 5, 2007 and February 1, 2008, by and 
      among eSpeed, BGC Partners, Inc., Cantor Fitzgerald, L.P., BGC Partners, 
      L.P., BGC Global Holdings, L.P. and BGC Holdings, L.P., pursuant to 
      which, among other things, BGC Partners will be merged with and into 
      eSpeed, with eSpeed surviving the merger. This merger is expected to 
      close on or about April 1, 2008. Upon the closing, the Combined Company 
      will be re-named “BGC Partners, Inc.” 
      and will trade on the NASDAQ Global Select Market under the symbol “BGCP.”
    
    
      About eSpeed, Inc.
    
    
      eSpeed, Inc. (NASDAQ: ESPD) is a leader in developing and deploying 
      electronic marketplaces and related trading technology that offers 
      traders access to some of the most liquid, efficient and neutral 
      financial markets in the world. eSpeed operates multiple buyer, multiple 
      seller real-time electronic marketplaces for the global capital markets, 
      including some of the world's largest government bond markets and other 
      fixed income and foreign exchange marketplaces, which may be accessed 
      fully electronically for some products or through an integrated hybrid 
      voice-assisted network accessed by voice brokers. eSpeed's suite of 
      marketplace tools provides end-to-end transaction solutions for the 
      purchase and sale of financial products over eSpeed's global private 
      network or via the Internet. eSpeed's neutral platform, reliable 
      network, straight-through processing and proven solutions make it a 
      trusted source for electronic trading at some of the world's largest 
      trading firms and major exchanges. To learn more, please visit www.espeed.com.
    
    
      About BGC
    
    
      BGC is a leading inter-dealer broker, providing integrated voice, 
      hybrid, and electronic execution and other brokerage services to banks, 
      brokerage houses and investment banks for a broad range of global 
      financial products including fixed income securities, foreign exchange, 
      equity derivatives, credit derivatives, futures, structured products and 
      other instruments. This is complemented by market data products for 
      selected financial instruments. Named after fixed income trading 
      innovator B. Gerald Cantor, BGC has offices in New York and London, as 
      well as Beijing (representative office), Chicago, Copenhagen, Hong Kong, 
      Istanbul, Mexico City, Nyon, Paris, Seoul, Singapore, Sydney, Tokyo and 
      Toronto. To learn more, please visit www.bgcpartners.com.
    
    
      Discussion of Forward-Looking Statements
    
    
      The information in this release contains forward-looking statements 
      within the meaning of Section 27A of the Securities Act of 1933, as 
      amended, and Section 21E of the Securities Exchange Act of 1934, as 
      amended. Such statements are based upon current expectations that 
      involve risks and uncertainties. Any statements contained herein that 
      are not statements of historical fact may be deemed to be 
      forward-looking statements. For example, words such as “may,” 
      “will,” “should,” 
      “estimates,” “predicts,” 
      “potential,” “continue,” 
      “strategy,” “believes,” 
      “anticipates,” “plans,” 
      “expects,” “intends” 
      and similar expressions are intended to identify forward-looking 
      statements.
    
    
      The actual results of eSpeed, BGC Partners or the Combined Company in 
      the merger (“we”, “our” 
      or the “Combined Company”) 
      and the outcome and timing of certain events may differ significantly 
      from the expectations discussed in the forward-looking statements. 
      Factors that might cause or contribute to such a discrepancy for eSpeed, 
      BGC Partners, and/or the Combined Company include, but are not limited 
      to, the Combined Company ’s relationship with 
      Cantor and its affiliates and any related conflicts of interests, 
      competition for and retention of brokers and other managers and key 
      employees, pricing and commissions and market position with respect to 
      any of our products, and that of the Combined Company’s 
      respective competitors, the effect of industry concentration and 
      consolidation, and market conditions, including trading volume and 
      volatility, as well as economic or geopolitical conditions or 
      uncertainties. Results may also be impacted by the extensive regulation 
      of our respective businesses and risks relating to compliance matters, 
      as well as factors related to specific transactions or series of 
      transactions, including credit, performance and unmatched principal risk 
      as well as counterparty failure. Factors may also include the costs and 
      expenses of developing, maintaining and protecting intellectual 
      property, including judgments or settlements paid or received in 
      connection with intellectual property or employment or other litigation 
      and their related costs, and certain financial risks, including the 
      possibility of future losses and negative cash flow from operations, 
      risks of obtaining financing and risks of the resulting leverage, as 
      well as interest and currency rate fluctuations.
    
    
      Discrepancies may also result from such factors as the ability to enter 
      new markets or develop new products, trading desks, marketplaces or 
      services and to induce customers to use these products, trading desks, 
      marketplaces or services, to secure and maintain market share, to enter 
      into marketing and strategic alliances, and other transactions, 
      including acquisitions, dispositions, reorganizations, partnering 
      opportunities, and joint ventures, and the integration of any completed 
      transactions, to hire new personnel, to expand the use of technology for 
      screen-assisted, voice-assisted and fully electronic trading and to 
      effectively manage any growth that may be achieved. Results are also 
      subject to risks relating to the proposed merger and separation of the 
      BGC businesses and the relationship between the various entities, 
      financial reporting, accounting and internal control factors, including 
      identification of any material weaknesses in our internal controls, our 
      ability to prepare historical and pro forma financial statements and 
      reports in a timely manner, and other factors, including those that are 
      discussed under “Risk Factors” 
      in eSpeed’s Annual Report on Form 10-K/A for 
      the year ended December 31, 2006, which was filed with the SEC on August 
      23, 2007 and its definitive proxy statement filed with the SEC on 
      February 11, 2008.
    
    
      We believe that all forward-looking statements are based upon reasonable 
      assumptions when made. However, we caution that it is impossible to 
      predict actual results or outcomes or the effects of risks, 
      uncertainties or other factors on anticipated results or outcomes and 
      that accordingly you should not place undue reliance on these 
      statements. Forward-looking statements speak only as of the date when 
      made and we undertake no obligation to update these statements in light 
      of subsequent events or developments.