RFX Refco Inc.

On October 13, 2005, Shalov Stone & Bonner LLP commenced a securities class action on behalf of purchasers of the securities of Refco, Inc. (NYSE:RFX), in the period between August 10, 2005, and October 7, 2005. The lawsuit was filed in the United States District Court for the Southern District of New York and names as defendants Refco, its Chief Executive Officer and other of its key executive officers, the company's principal outside auditor, and the lead underwriters for the company's recent initial public offering. The complaint alleges that the defendants made material misrepresentations and omissions of material facts concerning the company's financial condition and business performance during the relevant time period. Among other things, the complaint alleges that, just two months after its initial public offering, Refco announced that Phillip R. Bennett, its Chief Executive Officer and Chairman and controlling shareholder, was being placed on a leave of absence and that the company had discovered--ostensibly 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. Plaintiffs are represented by the law firm of Shalov Stone & Bonner LLP, which has extensive experience in the prosecution of class actions on behalf of investors. For more information about the firm and the Refco litigation, please visit Shalov Stone & Bonner LLP's new website dedicated exclusively to the Refco class action: www.refcoclassaction.com. If you would like to participate in this action or would like additional information about the lawsuit, please contact Thomas G. Ciarlone, Jr., at Shalov Stone & Bonner LLP, 485 Seventh Avenue, Suite 1000, New York, New York 10018 (telephone: (212) 239-4340; e-mail: tciarlone@lawssb.com).