News Release

Exchange to Decrease Margins for Heating Oil Crack Spread Calendar Swap Futures

Wed Feb 16 2005
NEW YORK, N.Y., February 16, 2005 — The New York Mercantile Exchange, Inc., announced today that it will decrease the margins on its New York Harbor heating oil crack spread calendar swap futures contracts at the close of business tomorrow.

The margins on the first month with decrease to $2,100 from $2,538 for clearing members, to $2,310 from $2,792 for members, and to $2,835 from $3,426 for customers.

The margins on the second through sixth months will decrease to $2,013 from $2,538 for clearing members, to $2,214 from $2,792 for members, and to $2,718 from $3,426 for customers.

The margins on the seventh through 11th month will decrease to $1,750 from $1,925 for clearing members, to $1,925 from $2,118 for members, to $2,363 from $2,599 for customers.

The margins on all other months will decrease to $1,663 from $1,838 for clearing members, to $1,829 from $2,022 for members, and to $2,245 from $2,481 for customers.

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Forward Looking and Cautionary Statements
This press release may contain forward–looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to our future performance, operating results, strategy, and other future events. Such statements generally include words such as could, can, anticipate, believe, expect, seek, pursue, and similar words and terms, in connection with any discussion of future results. Forward–looking statements involve a number of assumptions, risks, and uncertainties, any of which may cause actual results to differ materially from the anticipated, estimated, or projected results referenced in forward–looking statements. In particular, the forward–looking statements of NYMEX Holdings, Inc., and its subsidiaries are subject to the following risks and uncertainties: the success and timing of new futures contracts and products; changes in political, economic, or industry conditions; the unfavorable resolution of material legal proceedings; the impact and timing of technological changes and the adequacy of intellectual property protection; the impact of legislative and regulatory actions, including without limitation, actions by the Commodity Futures Trading Commission; and terrorist activities and international hostilities, which may affect the general economy as well as oil and other commodity markets. We assume no obligation to update or supplement our forward–looking statements.

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