eSpeed Announces Resignation of Jay Ryan, Chief Financial Officer, Effective May 16, 2006; Mr. Ryan to Remain CFO Through Company's First Quarter 2006 Results Announcement and 10-Q Filing

Mr. Ryan has accepted a position as the Chief Financial Officer ata hedge fund. He will continue to perform his duties at eSpeed untilMay 16, 2006, and will oversee eSpeed's next planned earningsannouncement and 10-Q filing.

"We appreciate the contributions Jay has made as eSpeed's CFO overthe last two years, and he will be missed," said eSpeed Chairman andChief Executive Officer Howard W. Lutnick. "We wish him success in hisnew opportunity."

eSpeed plans to immediately begin a search to replace its ChiefFinancial Officer, and will announce a successor when this process iscompleted.

About eSpeed, Inc.

eSpeed, Inc. (NASDAQ: ESPD) is a leader in developing anddeploying electronic marketplaces and related trading technology thatoffers traders access to the most liquid, efficient and neutralfinancial markets in the world. eSpeed operates multiple buyer,multiple seller real-time electronic marketplaces for the globalcapital markets, including the world's largest government bond marketsand other fixed income and equities marketplaces. eSpeed's suite ofmarketplace tools provides end-to-end transaction solutions for thepurchase and sale of financial products over eSpeed's global privatenetwork or via the Internet. eSpeed's neutral platform, reliablenetwork, straight-through processing and superior products make it thetrusted source for electronic trading at the world's largest fixedincome and foreign exchange trading firms and major exchanges. Tolearn more, please visit www.espeed.com.

The information in this press release contains forward-lookingstatements within the meaning of Section 27A of the Securities Act of1933, as amended, and Section 21E of the Securities Exchange Act of1934, as amended. Such statements are based upon current expectationsthat involve risks and uncertainties. Any statements contained hereinthat are not statements of historical fact may be deemed to beforward-looking statements. Our actual results and the timing ofcertain events may differ significantly from the results discussed inthe forward-looking statements. Factors that might cause or contributeto such a discrepancy include, but are not limited to, the costs andexpenses of developing, maintaining and protecting our intellectualproperty, including judgments or settlements paid or received andtheir related costs, the possibility of future losses and negativecash flow from operations, the effect of market conditions, includingtrading volume and volatility, our pricing strategy and that of ourcompetitors, our ability to develop new products and services, toenter new markets, to secure and maintain market share, to enter intomarketing and strategic alliances, to hire new personnel, to expandthe use of our electronic system, to induce clients to use ourmarketplaces and services and to effectively manage any growth weachieve, the effects of the attacks on the World Trade Center onSeptember 11, 2001, and other factors that are discussed under "RiskFactors" in eSpeed's Annual Report on Form 10-K filed with theSecurities and Exchange Commission. We believe that allforward-looking statements are based upon reasonable assumptions whenmade; however, we caution that it is impossible to predict actualresults or outcomes or the effects of risks, uncertainties or otherfactors on anticipated results or outcomes and that, accordingly, youshould not place undue reliance on these statements. Forward-lookingstatements speak only as of the date when made, and we undertake noobligation to update these statements in light of subsequent events ordevelopments. Actual results and outcomes may differ materially fromanticipated results or outcomes discussed in forward-lookingstatements.