News Release

NYMEX Holdings, Inc., Reports Earnings for 2004

Fri Mar 04 2005
NEW YORK, N.Y., March 4, 2005 — NYMEX Holdings, Inc., the holding company of the New York Mercantile Exchange, Inc., filed its 10-K and proxy statement yesterday, reporting net income of $27.4 million for 2004.

Earnings per share were $33,538. Operating revenue increased to $237.4 million in 2004 from $184.2 million during the prior year.

Clearing and transaction fees increased 38% to $193.3 million in 2004 due primarily to increased trading and clearing volume.

Net income in 2003 was $8.9 million and earnings per share were $10,882.

During 2004, futures and options trading and clearing volume on the Exchange was a record 169.5 million contracts, an 18% increase over the 143.9 million contracts traded and cleared in 2003. Volume submitted for clearing only through the NYMEX ClearPortsm platform was 14.3 million contracts, a 138% increase from the 6 million in 2003.

Operating expenses totaled $186.7 million in 2004 compared with $164.9 million in 2003, primarily due to higher general and administrative expenses.

Other developments during the year included:
  • NYMEX Holdings paid total dividends of $6,127 per share during 2004, and declared its fifth dividend, $4,289.22 per share, to shareholders of record as of December 31, 2004.
  • A NYMEX Division seat sold for a record $2 million on October 12, the most ever for a seat on any futures exchange.
  • The Exchange launched open outcry trading for Brent crude oil futures in Dublin on November 1.


Exchange President James E. Newsome said, "Record volumes and seat sale prices, as well as our European expansion, made 2004 a stellar year for the Exchange. The energy and metals industries have continued to place their confidence in us, and we are pleased that we have been able to meet the ever-changing needs of these dynamic markets."

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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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