CORRECTING and REPLACING BGC Partners First Quarter 2008 Preliminary Financial Results...

CORRECTING and REPLACING BGC Partners First Quarter 2008 Preliminary Financial Results Announcement to be Made After Close of Market on Wednesday, May 7, 2008

Conference Call Scheduled For Thursday, May 8, 2008 8:30 a.m. ET
NEW YORK--(Business Wire)--
Please replace the release with the following corrected version
due to multiple revisions.

The corrected release reads:

BGC Partners First Quarter 2008 Preliminary Financial Results
Announcement to be Made After Close of Market on Wednesday, May 7,
2008

Conference Call Scheduled For Thursday, May 8, 2008 8:30 a.m. ET

BGC Partners, Inc. (Nasdaq: BGCP)(formerly known as eSpeed, Inc.)
("BGC Partners, "we", "our" or "the Company") a leading global
full-service inter-dealer broker of financial instruments, announced
today that it will release its first quarter 2008 preliminary
financial results after the close of market on Wednesday May 7, 2008.
The Company will host a conference call on Thursday, May 8, 2008, at
8:30 a.m. EST to discuss these results.

Because BGC Partners' merger with and into eSpeed closed on April
1, 2008, the Company's Form 10-Q for the first quarter of 2008 will
contain financial results for pre-merger eSpeed only. As a result, the
format of BGC Partners' May 7, 2008 press release will be similar to
eSpeed's pre-merger financial results press releases for the third and
fourth quarters of 2007. In its first quarter 2008 financial results
release, BGC Partners intends to discuss the first quarter 2008
results for eSpeed in detail; to provide preliminary first quarter
2008 results for the acquired BGC businesses on a pre-merger basis
and; to discuss preliminary first quarter 2008 results and second
quarter 2008 outlook for the Company as they will be consolidated
post-merger.

Beginning with the filing of its Form 10-Q for the second quarter
of 2008 and the issuance of the related financial press release, BGC
Partners will report its quarterly and annual results on a post-merger
consolidated basis. Since the combination with eSpeed was between
related entities, BGC Partners will also report historical financial
results on a consolidated basis as if the merger had occurred as of
the earliest period presented. This means that for its Form 10-Q for
the second quarter of 2008, BGC Partners will provide financial
results for the three months and six months ending June 30 for 2008
and 2007 on a post-merger consolidated basis.

Long URLs in this release may need to be copied/pasted into your
Internet browser's address field. Remove the extra space if one
exists.

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WHO: BGC Partners, Inc. (Nasdaq: BGCP)

WHAT: First quarter 2008 preliminary financial results conference call

WHEN: Thursday, May 8, 2008, at 8:30 a.m. EST

WHERE: The "Investor Relations" section at http://www.bgcpartners.com/

HOW: Listeners must have a Real Media or Windows Media
plug-in and headphones or speakers in order to
listen to the webcast or its replay.

Additionally, call participants may dial in with the following
information:

DIAL IN: 888-679-8018

INTERNATIONAL DIAL IN: 617-213-4845

PARTICIPANT PASS CODE: 80061645

PRE REGISTRATION: Yes

PARTICIPANT URL:
https://www.theconferencingservice.com/prereg/key.
process?key=PE8NQTEAV

REPLAY AVAILABLE: From 05/08/2008 10:30 AM ET to 05/15/2008
11:59 PM ET

REPLAY DIAL IN: 888-286-8010

INTERNATIONAL REPLAY: 617-801-6888

REPLAY PASS CODE: 63965384
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About BGC Partners, Inc.

BGC Partners, Inc. (Nasdaq: BGCP) is a leading global full-service
inter-dealer broker, specializing in the trading of financial
instruments and related derivatives products. BGC Partners provides
integrated voice, hybrid, and fully electronic execution and other
brokerage services to some of the world's largest and most credit
worthy banks, broker-dealers, investment banks and investment firms
for a broad range of global financial products, including fixed income
securities, foreign exchange, equity derivatives, credit derivatives,
futures, structured products and other instruments. Through its eSpeed
and BGCantor Market Data brands, BGC also offers financial technology
solutions and market data and analytics related to selected financial
instruments and markets. Named after fixed income trading innovator B.
Gerald Cantor, BGC Partners has offices in New York and London, as
well as in Beijing (representative office), Chicago, Copenhagen, Hong
Kong, Istanbul, Mexico City, Nyon, Paris, Seoul, Singapore, Sydney,
Tokyo and Toronto. To learn more, please visit www.bgcpartners.com.

Discussion of Forward-Looking Statements

The information in this release contains forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Such statements are based upon current expectations
that involve risks and uncertainties. Any statements contained herein
that are not statements of historical fact may be deemed to be
forward-looking statements. For example, words such as "may," "will,"
"should," "estimates," "predicts," "potential," "continue,"
"strategy," "believes," "anticipates," "plans," "expects," "intends"
and similar expressions are intended to identify forward-looking
statements.

The actual results of BGC Partners, Inc. ("we," "our", "the
Company", or "the Combined Company") and the outcome and timing of
certain events may differ significantly from the expectations
discussed in the forward-looking statements. Factors that might cause
or contribute to such a discrepancy for the Combined Company include,
but are not limited to, our relationship with Cantor and its
affiliates and any related conflicts of interests, competition for and
retention of brokers and other managers and key employees, pricing and
commissions and market position with respect to any of our products,
and that of our competitors, the effect of industry concentration and
consolidation, and market conditions, including trading volume and
volatility, as well as economic or geopolitical conditions or
uncertainties. Results may also be impacted by the extensive
regulation of our businesses and risks relating to compliance matters,
as well as factors related to specific transactions or series of
transactions, including credit, performance and unmatched principal
risk as well as counterparty failure. Factors may also include the
costs and expenses of developing, maintaining and protecting
intellectual property, including judgments or settlements paid or
received in connection with intellectual property or employment or
other litigation and their related costs, and certain financial risks,
including the possibility of future losses and negative cash flow from
operations, risks of obtaining financing and risks of the resulting
leverage, as well as interest and currency rate fluctuations.

Discrepancies may also result from such factors as the ability to
enter new markets or develop new products, trading desks, marketplaces
or services and to induce customers to use these products, trading
desks, marketplaces or services, to secure and maintain market share,
to enter into marketing and strategic alliances, and other
transactions, including acquisitions, dispositions, reorganizations,
partnering opportunities, and joint ventures, and the integration of
any completed transactions, to hire new personnel, to expand the use
of technology for screen-assisted, voice-assisted and fully electronic
trading and to effectively manage any growth that may be achieved.
Results are also subject to risks relating to the merger and
separation of the BGC businesses and the relationship between the
various entities, financial reporting, accounting and internal control
factors, including identification of any material weaknesses in our
internal controls, our ability to prepare historical and pro forma
financial statements and reports in a timely manner, and other
factors, including those that are discussed under "Risk Factors" in
eSpeed's Annual Report on Form 10-K for the year ended December 31,
2007, which was filed with the SEC on March 17, 2008, and in the
definitive proxy statement filed with the SEC on February 11, 2008.

We believe that all forward-looking statements are based upon
reasonable assumptions when made. However, we caution that it is
impossible to predict actual results or outcomes or the effects of
risks, uncertainties or other factors on anticipated results or
outcomes and that accordingly you should not place undue reliance on
these statements. Forward-looking statements speak only as of the date
when made and we undertake no obligation to update these statements in
light of subsequent events or developments.

BGC Partners, Inc.
U.K. Media:
Adrian Thomas, 44-(0)207-894-8647
athomas@bgcpartners.com
U.S. Media:
Florencia Panizza, 212-294-7938
fpanizza@bgcpartners.com
Investors:
Nneoma Njoku, 212-610-2297
nnjoku@bgcpartners.com
Jason McGruder, 212-829-4988
jmcgruder@bgcpartners.com

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