News Release

Exchange Announces Margin Changes for Natural Gas Futures Contracts

Fri Dec 02 2005

NEW YORK, N.Y., December 2, 2005 — The New York Mercantile Exchange, Inc., announced today it will change the margins for its natural gas futures, Henry Hub swap futures, Henry Hub penultimate swap futures, NYMEX miNYTM natural gas futures and Henry Hub swing swap futures, effective at the close of business on December 5.

The margins on the first month of the natural gas futures contract will increase to $12,500 from $11,000 for clearing members, to $13,750 from $12,100 for members, and to $16,875 from $14,850 for customers. Margins on the second month will increase to $13,000 from $11,500 for clearing members, to $14,300 from $12,650 for members, and to $17,550 from $15,525 for customers. Margins on the third month will increase to $12,500 from $11,500 for clearing members, to $13,750 from $12,650 for members, and to $16,875 from $15,525 for customers. All other months remain unchanged.

The margin rates on the first month of the Henry Hub swap and Henry Hub penultimate swap futures contracts will increase to $3,125 from $2,750 for clearing members, to $3,438 from $3,025 for members, and to $4,219 from $3,713 for customers. The margins on the second month will increase to $3,250 from $2,875 for clearing members, to $3,575 from $3,163 for members, and to $4,388 from $3,881 for customers. Margins on the third month will increase to $3,125 from $2,875 for clearing members, to $3,438 from $3,163 for members, and to $4,219 from $3,881 for customers. All other months will remain unchanged.

Margins on the first month of the NYMEX miNYTM natural gas futures contract will increase to $6,250 from $5,500 for clearing members, to $6,875 from $6,050 for members, and to $8,438 from $7,425 for customers. The margin rates on the second month will increase to $6,500 from $5,750 for clearing members, to $7,150 from $6,325 for members, and to $8,775 from $7,763 for customers.

Margins on the first month of the Henry Hub swing swap futures contract will increase to $3,125 from $2,750 for clearing members, to $3,438 from $3,025 for members, and to $4,219 from $3,713 for customers.

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Forward Looking and Cautionary Statements
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