Dupont Direct Financial Holdings, Inc.
                                   42 Broadway
                               New York, NY 10004

                              For Immediate Release

                  DIRX Elevates Parsons From Acting CEO to CEO

New  York,  NY  -June  16,  2003--  Dupont  Direct  Financial   Holdings,   Inc.
(OTCBB:DIRX),

The directors of Dupont Direct Financial Holdings, Inc. today made permanent the
interim  appointment  of David W.  Parsons to the offices of Chairman  and Chief
Executive Officer  following the death,  last week, of Randy M. Strausberg.  Mr.
Strausberg had been on medical leave since late 2002.

Mr. Parsons said, "We will miss greatly Randy's guidance and capable management.
He was more than my  partner;  he was my  friend.  I am  greatly  humbled at the
prospect of trying to fulfill Randy's aspirations and ambitions for our company.
Our success in these endeavors will provide his most fitting tribute.  We extend
our deepest condolences to his loving family."

Certain  statements  contained herein  constitute  "forward-looking  statements'
within  the  meaning  of  the  Private  Securities  Reform  Act  of  1995.  Such
forward-looking  statements  involve  a  number  of  known  and  unknown  risks,
uncertainties  and other factors which may cause actual results,  performance or
achievements  of the Company to be  materially  different  from future  results,
performance  or  achievements  expressed  or  implied  by  such  forward-looking
statements. Such factors include, but are not limited to, changes in the markets
for the  Company's  products and  services,  regulatory  and  economic  factors,
economic cyclicality,  competition,  litigation, client or customer arrangements
that may expand or contract, adverse weather conditions,  possible technological
advances  or  obsolescence  in  existing or future  products  or  services,  the
variability  in  the  value  of the  Company's  securities  inventory  products,
customer  concentration and other risks detailed in the Company's other periodic
reports filed with the United States Securities and Exchange  Commission (SEC or
Commission).  The works  "believe,"  "expect,"  "anticipate,"  "may," "plan" and
similar expressions identify forward-looking statements,  which speak only as of
the date the statement was made.








Contact:
Dupont Direct Financial Holdings, Inc.
Jon Bloomberg
(917) 320-4800