News Release

Exchange Announces Margin Changes for Natural Gas Futures and Other Related Contracts

Thu Aug 11 2005

New York, N.Y., August 11, 2005 — The New York Mercantile Exchange, Inc., announced today it would change the margins for natural gas, Henry Hub swap, NYMEX miNYsm natural gas, Henry Hub swing swap and Henry Hub penultimate swap futures contracts at the close of business on August 12.

The margins on the first nearby month of the natural gas futures contracts will increase to $5,500 from $5,000 for clearing members, to $6,050 from $5,500 for members, and to $7,425 from $6,750 for customers. The second month will increase to $5,750 from $5,000 for clearing members, to $6,325 from $5,500 for members, and to $7,763 from $6,750 for customers. The third month will increase to $6,000 from $5,000 for clearing members, $6,600 from $5,500 for members, and to $8,100 from $6,750 for customers. The margins for the fourth to seventh months will increase to $6,250 from $5,000 for clearing members, to $6,875 from $5,500 for members, and to $8,438 from $6,750 for customers. Margins for the eighth to the 19th months will decrease to $4,000 from $5,000 for clearing members, to $4,400 from $5,500 for members, and to $5,400 from $6,750 for customers. Margins for the 20th to 31st months will increase to $3,250 from $3,000 for clearing members, $3,300 from $3,025 for clearing members, and to $4,388 from $4,050 for customers. The margins for the 32nd to 52nd months will increase to $3,000 from $2,750 for clearing member, to $3,300 from $3,025 for members, and to $4,050 from $3,713 for customers. Margins for the 53rd to 64th nearby months will decrease to $2,000 from $2,500 for clearing members, to $2,200 from $2,750 for members, and to $2,700 from $3,375 for customers. The margins on all other months will decrease to $1,500 from $2,500 for clearing members, to $1,650 from $2,750 for members, and to $2,025 from $3,375 for customers.

Margins on the first nearby month of the Henry Hub swap futures and the Henry Hub penultimate swap contracts will increase to $1,375 from $1,250 for clearing members, to $1,513 from $1,375 for members, and to $1,856 from $1,688 for customers. The second month will increase to $1,438 from $1,250 for clearing members, $1,581 from $1,375 for members, and to $1,941 from $1,688 for customers. The third month will increase to $1,500 from $1,250 for clearing members, to $1,650 from $1,375 for members, and to $2,025 from $1,688 for customers. The margins for the fourth to seventh month will increase to $1,563 from $1,250 for clearing members, to $1,719 from $1,375 for members, and to $2,109 from $1,688 for customers. Margins for the eighth to the 19th months will decrease to $1,000 from $1,250 for clearing members, $1,100 from $1,375 for members, and $1,350 from $1,688 for customers. Margins for the 20th to 31st month will increase to $813 from $750 for clearing members, to $894 from $825 for clearing members, and to $1,097 from $1,013 for customers. The margins for the 32nd to 52nd months will increase to $750 from $688 for clearing member, to $825 from $756 for members, and to $1,013 from $928 for customers. Margins for the 53rd to 64th nearby months will decrease to $500 from $625 for clearing members, to $550 from $688 for members, and to $675 from $844 for customers. The margins on all other months will decrease to $375 from $625 for clearing members, to $413 from $688 for members, and to $506 from $844 for customers.

The margins on the first month of the NYMEX miNYsm natural gas contracts will increase to $2,750 from $2,500 for clearing members, to $3,025 from $2,750 for members, and to $3,173 from $3,375 for customers. The margins on the second month will increase to $2,875 from $2,500 for clearing members, to $3,163 from $2,750 for members, and to $3,881 from $3,375 for customers.

The margins on the first month of the Henry Hub swing swap futures contracts will increase to $1,375 from $1,250 for clearing members, to $1,513 from $1,375 for members, and to $1,856 from $1,688 for customers.

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