News Release

Exchange Opens Japan Office, Appoints Director

Mon Jan 10 2005
New York, N.Y., January 10, 2005 — The New York Mercantile Exchange, Inc., will open an office in Tokyo on Tuesday, January 11.

Thomas J. McMahon, who has more than 15 years of executive level experience in the commodities industry, will serve as the director of the Asian office. A former Exchange board member, he has served on the petroleum, natural gas, and propane advisory committees, as well as the petroleum delivery committee.

Mr. McMahon previously served as president at Gaslink, Inc., a natural gas futures and options trading operation on the floor of the Exchange. He was also president of Newport Energy; a trading floor manager for United Energy; and an independent floor broker.

Mr. McMahon is currently a member of the board of directors of the Futures Industry Association Japan Chapter. He will continue to develop the Asian marketplace for the Exchange, including working with clients in Japan, Hong Kong and Singapore.

Mr. McMahon earned a bachelors degree in history and political science from Washington College in Maryland.

The new office will include multi–lingual staff members to serve the Asian marketplace. The office is located at San Marino Shiodome, 6th floor, Higashi Shinbashi, Tokyo, Japan, and can be reached by telephone at +81354085291.

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