Goldman Sachs Renames SLK Broker Dealer

NEW YORK, December 20, 2004–The Goldman Sachs Group, Inc. announced today that its broker-dealer, Spear, Leeds & Kellogg, L.P., will be renamed Goldman Sachs Execution & Clearing, L.P., effective January 14.  Goldman Sachs Execution and Clearing, L.P. (GSEC) will remain a separate legal entity and a separately registered broker-dealer. 

"By aligning the SLK execution and clearing services with the Goldman Sachs brand and name, we have addressed the requests of our current clients and strengthened our efforts to market these services to new clients," said Duncan Niederauer, Managing Director, Goldman Sachs.

Over the next few weeks, client accounts of Spear, Leeds & Kellogg, L.P. will be converted to Goldman Sachs Execution & Clearing, L.P. accounts, resulting in GSEC-branded reports, documents and web-based tools.

This name change does not apply to the NYSE stock and index specialist businesses conducted through Spear, Leeds & Kellogg Specialists, L.L.C. and Spear, Leeds & Kellogg Index Specialists, L.L.C., respectively, which will retain their current names.

Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.