RFX Refco Inc.

Goldman Scarlato & Karon, P.C., a law firm with offices in Pennsylvania and Ohio, announces that a lawsuit has been filed in the United States District Court for the Southern District of New York, on behalf of persons who purchased the common stock of Refco, Inc. (NYSE:RFX) between August 11, 2005 and October 7, 2005, inclusive, (the "Class Period"). The lawsuit was filed against, among others, Refco and certain of its officers, including Phillip Bennett, Refco's CEO ("Defendants"). If you purchased Refco common stock during the Class Period, you may move the Court no later than December 12, 2005 to serve as a lead plaintiff for the Class. If you wish to view a copy of a complaint and join this class action, please e-mail us at penny@gsk-law.com. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. The lawsuit alleges that defendants violated the federal securities laws by issuing materially false and misleading statements throughout the Class Period that had the effect of artificially inflating the market price of Refco's common stock. The lawsuit further alleges that throughout the Class Period, Defendants represented to the investment community that Refco was a highly-successful financial services company, while concealing: 1) that Refco's CEO owed the company over $430 million allegedly as part of a scheme to hide bad debt from Refco investors; 2) the Company lacked adequate internal controls; and 3) the Company's financial statements from fiscal 2002 to the present were unreliable. On October 10, 2005, before trading opened, defendants revealed that the Company had been carrying an undisclosed receivable from Mr. Bennett, in the amount of $430 million, that Bennett was taking a leave of absence, and that Company financial statements issued since 2002 could no longer be relied upon. On October 12, 2005, federal prosecutors indicted Mr. Bennett on fraud charges, and on October 13, 2005, Refco froze certain customer accounts in one of its subsidiaries for 15 days because it may not have enough cash on hand to operate normally. On the same day, S&P lowered Refco's credit rating and issued a statement that there is "substantial doubt" about Refco's liquidity. If you bought Refco common stock between August 11, 2005 and October 7, 2005, inclusive, and would like to obtain information about the lawsuit, then you are invited to call us at (888) 753-2796.