News Release

New York Mercantile Exchange and Budapest Stock Exchange Sign Memorandum of Understanding

Tue Apr 19 2005
NEW YORK, N.Y., April 19, 2005 — The New York Mercantile Exchange, Inc., and the Budapest Stock Exchange and the Budapest Commodity Exchange announced today that they have signed a memorandum of understanding to explore areas of cooperation that could mutually benefit the exchanges.

The exchanges will work together to develop a standardized Urals crude oil futures contract in Budapest, a market that does not currently exist. They will cooperate in product development, marketing activities, and market creation.

Exchange President James E. Newsome said, "We are pleased to work with the Budapest Stock Exchange and Budapest Commodity Exchange to create this contract that will not only benefit our respective memberships, but will also serve as a much-needed crude oil benchmark in the region. We look forward to working together and building a partnership with the goal of establishing a fair and liquid marketplace."

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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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