San Francisco, CA, May 14, 2003- Merriman Curhan Ford & Co. ("MCF"), a securities broker-dealer and investment bank, and subsidiary of Ratexchange Corporation (AMEX: RTX), today announced the creation of Institutional Cash Distributors ("ICD") as a division of Merriman Curhan Ford & Co. ICD is a premier broker of money funds serving the short-term investing needs of corporate treasury departments at companies throughout the United States.

"We are very pleased to be associated with Merriman Curhan Ford & Co.," stated Tom Newton, co-founder and senior managing director of ICD. "Our relationship with Merriman Curhan Ford & Co. allows us to partner with a rapidly growing firm whose capital markets driven culture best suits our model."

Edwin Baldry, also a co-founder and senior managing director of ICD added, "The institutional money fund business is a $1.1 trillion market as companies are constantly looking for places and ways to invest capital on a short-term basis. We have streamlined the brokering process for our clients by providing a web-based, one-stop solution that gives our clients access to a comprehensive money market list of over 40 different fund family options. From there, ICD then gives its clients unparalleled operational efficiency by offering one application, one wire and one statement that consolidates reporting regardless of the number of funds utilized."

ICD was co-founded by Edwin P. Baldry, Jeffrey C. Jellison and Thomas P. Newton. Messrs. Baldry and Newton, along with Mason Martin, ICD's trade desk manager, were all previously with Deutsche Asset Management / Scudder Investments. Mr. Jellison was formerly with JP Morgan and MidAtlantic / Sunguard.

"Our partnership with ICD opens some very large markets for us and aligns us with a great team that I believe will add to all elements of our business," stated Jon Merriman, CEO of Merriman Curhan Ford & Co. "ICD is led by an impressive group of industry professionals who collectively have over 40 years of brokerage experience and success in the money fund business. The ICD division, along with our sales, trading and advisory businesses, is a big boost to MCF's recurring revenue streams and fits our business model of combining profitable, recurring revenues with higher margin business such as investment banking."

About Institutional Cash Distributors (ICD)
Institutional Cash Distributors ("ICD") is a premier broker of money funds serving the shortterm investing needs of corporate finance departments at companies throughout the United States. Companies using ICD's services receive access to a comprehensive product line of over 40 different fund family options through ICD's one-stop process that includes one application, one wire and one statement consolidating reporting regardless of the number of funds utilized. For further information about ICD's services, please contact Mason Martin at 1-800-611-4ICD. ICD is a division of Merriman Curhan Ford & Co., a member of the National Association of Securities Dealers, Inc. and SIPC.

About Merriman Curhan Ford & Co. and RateXchange Corporation
Merriman Curhan Ford & Co. ("MCF") is a securities broker-dealer and investment bank focused on emerging growth companies and growth-oriented institutional investors. MCF provides sales and trading services primarily to institutions, as well as advisory and investment banking services to corporate clients. MCF's mission is to become a leader in the researching, advising, financing and trading of emerging growth equities. Merriman Curhan Ford & Co. is a subsidiary of Ratexchange Corporation (AMEX: RTX) and is registered with the Securities and Exchange Commission as a broker-dealer and is a member of the National Association of Securities Dealers, Inc. and SIPC.

For more information contact::
Michael Mandelbaum
Mandelbaum Partners
310-202-6468
michaelm@mandelbaumpartners.com