Lerach Coughlin Stoia Geller Rudman & Robbins LLP Expands Class Period for Class Action Lawsuit against Officers and Directors o

Lerach Coughlin Stoia Geller Rudman & Robbins LLP
("Lerach Coughlin") (http://www.lerachlaw.com/cases/refco/) today
announced that a class action has been commenced in the United States
District Court for the Southern District of New York on behalf of
purchasers of Refco, Inc. ("Refco") (NYSE:RFX) common stock during the
period between August 11, 2005 and October 18, 2005, including those
who purchased the common stock of Refco pursuant and/or traceable to
the Company's initial public offering ("IPO") on or about August 11,
2005, seeking to pursue remedies under the Securities Act of 1933 (the
"Securities Act") and the Securities Exchange Act of 1934 (the
"Exchange Act").
   If you wish to serve as lead plaintiff, you must move the Court no
later than 60 days from October 11, 2005. If you wish to discuss this
action or have any questions concerning this notice or your rights or
interests, please contact plaintiff's counsel, Samuel H. Rudman or
David A. Rosenfeld of Lerach Coughlin at 800/449-4900 or 619/231-1058,
or via e-mail at [e-mail]. If you are a member of this class,
you can view a copy of the complaint as filed or join this class
action online at http://www.lerachlaw.com/cases/refco/. Any member of
the purported class may move the Court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and
remain an absent class member.
   The complaint charges certain of Refco's officers and directors
with violations of the federal securities laws. Refco provides
execution and clearing services for exchange traded derivatives; and
brokerage services in the fixed income and foreign exchange markets in
the United States, Bermuda, and the United Kingdom.
   The complaint alleges that Refco went public via an initial public
offering ("IPO") in August 2005. A mere three months later, on October
10, 2005, Refco announced that Phillip R. Bennett, its Chief Executive
Officer ("CEO"), Chairman and controlling shareholder, was being
placed on a leave of absence and that the Company had discovered,
purportedly through an internal review, a receivable of $430 million
owed by Bennett to the Company. The Company also announced that based
on the undisclosed related-party transaction, its prior financial
statements should not be relied upon.
   According to the complaint, on or about August 10, 2005, Refco
filed with the SEC a Form S-1/A Registration Statement (the
"Registration Statement"), for the IPO. On or about August 11, 2005,
the Prospectus with respect to the IPO, which forms part of the
Registration Statement, became effective and 26.5 million shares of
Refco common stock were sold to the public, thereby raising
approximately $583 million. According to the complaint, the Prospectus
issued in connection with the IPO was materially false and misleading
for several reasons, including the fact that in a section entitled
"Certain Relationships and Related Transactions," the Prospectus
purported to detail all of the related-party transactions concerning
its business, but failed to disclose the related-party loan of $430
million to an entity controlled by Bennett. As detailed in the
complaint, Refco has now admitted that its financial statements as of
and for the periods ended February 28, 2002, February 28, 2003,
February 28, 2004, February 28, 2005 and May 31, 2005 should no longer
be relied upon and will likely be restated. This amounts to an
admission that those financial statements were materially false and
misleading when issued. In response to these announcements, the price
of Refco common stock declined precipitously falling from $28.56 per
share to $15.60 per share on extremely heavy trading volume.
   On October 13, 2005, the Company issued a press release announcing
that it had hired advisors and imposed a 15-day moratorium on all
activities, including customer withdrawals, of Refco Capital Markets,
Ltd. In response to this announcement the price of Refco common stock
declined an additional $2.95 per share to $7.90 per share on extremely
heavy trading volume. On October 17, 2005, Refco announced that the
Company and certain of its subsidiaries had filed for protection under
Chapter 11 of the United States Bankruptcy Code.
   Plaintiff seeks to recover damages on behalf of all purchasers of
Refco common stock during the Class Period (the "Class"). The
plaintiff is represented by Lerach Coughlin, which has expertise in
prosecuting investor class actions and extensive experience in actions
involving financial fraud.
   Lerach Coughlin, a 150-lawyer firm with offices in San Diego, San
Francisco, Los Angeles, New York, Boca Raton, Washington, D.C.,
Houston, Philadelphia and Seattle, is active in major litigations
pending in federal and state courts throughout the United States and
has taken a leading role in many important actions on behalf of
defrauded investors, consumers, and companies, as well as victims of
human rights violations. Lerach Coughlin lawyers have been responsible
for more than $20 billion in aggregate recoveries. The Lerach Coughlin
Web site (http://www.lerachlaw.com) has more information about the
firm.