ANNUAL MEETING The 2004 Annual Meeting will take place at 1:00 pm Eastern Daylight Time on Wednesday, May 12, 2004 at the Courtyard by Marriott, Jersey City/Newport, 540 Washington Boulevard, Jersey City, New Jersey 07310. COMMON STOCK The Class A Common Stock is listed in the Nasdaq National Market System under the symbol "NITE." Public trading of the Company's Class A Common Stock commenced on July 8, 1998. The Company's common stock underwent a 2-for-1 stock split on May 14, 1999, at the close of business. The current CUSIP number is 499063 10 5. DIVIDEND POLICY The Company has never declared or paid a cash dividend on its Class A Common Stock. The Company currently intends to retain all of its current and future earnings, if any, for use in its business. Therefore, Knight does not anticipate paying cash dividends in the foreseeable future. However, the payment of cash dividends is within the discretion of our Board of Directors. CORPORATE WEB SITE www.knighttradinggroup.com PUBLICATIONS Copies of the Annual Report, the Annual Report on SEC Form 10-K, Quarterly Reports on SEC Form 10-Q, current Reports on Form 8-K, Forms 3, 4 and 5 filed on behalf of directors and executive officers, Proxy Statements, press releases and general information, are available through the corporate Web site, by calling Investor and Shareholder Relations at 201-356-1548, or by writing Investor and Shareholder Relations at the Corporate Headquarters address. CONTACT INFORMATION Analyst, Investor, Media and Public Relations inquiries should be directed to Margaret Wyrwas, Senior Managing Director, Corporate Communication and Investor Relations, at the Corporate Headquarters address, or call 201-557-6954. Media inquiries may be directed to Kara Fitzsimmons, Vice President, Corporate Communication at 201-356-1523. Investor and Shareholder inquiries may be directed to Judith Pirro, Vice President, Investor and Shareholder Relations, at the Corporate Headquarters address, or call 201-356-1548.   INDEPENDENT AUDITORS PricewaterhouseCoopers LLP 1177 Avenue of the Americas New York, New York 10036 www.pwc.com OUTSIDE COUNSEL Skadden, Arps, Slate, Meagher & Flom LLP 4 Times Square New York, New York 10036 www.skadden.com     CONSOLIDATED SUBSIDIARIES For a list of our regulated broker-dealer subsidiaries, please refer to our Annual Report on SEC Form 10-K. TRANSFER AGENT AND REGISTRAR Mellon Investor Services LLC P. O. Box 3315 South Hackensack, New Jersey 07606-1915 Telephone: 800.851.9677 www.mellon-investor.com   Securities and services are offered by Knight Trading Group's regulated broker-dealer subsidiaries which are duly registered with the Securities Exchange Commission: Knight Equity Markets, L.P. (member NASD, National Stock Exchange and Pacific Stock Exchange); Knight Capital Markets LLC (member NASD); Knight Financial Products LLC (member Chicago Board Options Exchange, Pacific Stock Exchange, Philadelphia Stock Exchange, International Securities Exchange, Chicago Board of Trade, Chicago Mercantile Exchange, New York Mercantile Exchange, Philadelphia Board of Trade and American Stock Exchange); Knight Execution Partners LLC (member of all five Options Exchanges as well as the Options Clearing Corp.). Securities and services are also provided by Knight Securities International Ltd. which is regulated by the Financial Services Authority in the U.K., and is a member of the London Stock Exchange. Unless the context otherwise requires, the "Company," "Knight," "We," or "Our" shall mean Knight Trading Group, Inc. and its consolidated subsidiaries. Certain statements contained in this annual report, including without limitation, those under "Management's Discussion and Analysis of Financial Condition and Results of Operations" (MD&A) and statements containing the words "believes," "intends," "expects," "anticipates" and words of similar import, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Report Act of 1995. These forward-looking statements are not historical facts and are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Since such statements involve risks and uncertainties, the actual results and performance of the Company may turn out to be materially different from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made in this report. Readers should carefully review the risks and uncertainties detailed under "Certain Factors Affecting Results of Operations" in the MD&A herein and in other reports or documents the Company files from time to time with the Securities and Exchange Commission. This discussion should be read in conjunction with the Company's Consolidated Financial Statements and the Notes thereto contained in this report.