News Release

Exchange Announces Margins for New Natural Gas Basis Swap Futures Contracts

Fri Feb 18 2005
NEW YORK, N.Y., February 18, 2005 — The New York Mercantile Exchange, Inc., today announced the margins for its seven new natural gas basis swap futures contracts that will launch at on NYMEX ClearPortsm on February 21 for the February 22 trade date.

Margins on the spot months of the ANR Louisiana basis swap futures, Tennessee 500 Leg basis swap futures, Trunkline, LA basis swap futures, and Texas Gas, Zone SL basis swap futures contracts will be $50 for clearing members, $55 for members, and $68 for customers. Margins on all other months will be $25 for clearing members, $28 for members, and $34 for customers.

Margins on the spot month of the Tennessee Zone 0 basis swap futures contract will be $150 for clearing members, $165 for members, and $203 for customers. Margins on all other months will be $75 for clearing members, $83 for members, and $101 for customers.

Margins on the spot months of the Kern River, Wyoming basis swap futures and Questar basis swap futures contracts will be $500 for clearing members, $550 for members, and $675 for customers. Margins on the second month will be $250 for clearing members, $275 for members, and $338 for customers. Margins on the third and fourth months will be $225 for clearing members, $248 for members, and $304 for customers. Margins on the fifth through 11th months will be $125 for clearing members, $138 for members, and $169 for customers. Margins on all other months will be $75 for clearing members, $83 for members, and $101 for customers.

Margins on the inter-month spreads for all months of the ANR Louisiana basis swap futures, Tennessee 500 Leg basis swap futures, Trunkline, LA basis swap futures, Texas Gas, Zone SL basis swap futures, Tennessee Zone 0 basis swap futures, Kern River, Wyoming basis swap futures, and Questar basis swap futures contracts will be $25 for clearing members, $28 for members, and $34 for customers.

Spot assessment margins on the ANR Louisiana basis swap futures, Tennessee 500 Leg basis swap futures, Trunkline, LA basis swap futures, Texas Gas, Zone SL basis swap futures, and Tennessee Zone 0 basis swap futures contracts will be $100 for clearing members, $110 for members, and $135 for customers.

Spot assessment margins on the Kern River, Wyoming basis swap futures and Questar basis swap futures contracts will be $500 for clearing members, $550 for members, and $675 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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