News Release

CORRECTION: Exchange Anounces Margin Rate Changes for Natural Gas Basis and Index Swap Futures Contracts

Tue Aug 30 2005

NEW YORK, N.Y., August 30, 2005 — The New York Mercantile Exchange, Inc., announced today it would change the margins for several of its natural gas basis and index swap futures contracts at the close of business on August 30.

Margins on the first month of the Alberta basis swap futures contract will increase to $375 from $300 for clearing members, to $413 from $330 for members, to $506 from $405 for customers. Margins on the second month will increase to $225 from $175 for clearing members, $248 from $193 for members, and to $304 from $236 for customers. The margins on the third to 12th months will increase to $125 from $100 for clearing members, to $138 from $110 for members, and to $169 from $135 for customers. Margins all other months will increase to $100 from $80 for clearing members, to $110 from $88 for members, and to $135 from $108 for customers.

Margins on the first month of the Chicago and the Houston Ship Channel basis swap futures contracts will increase to $250 from $200 for clearing members, to $275 from $220 for members, to $338 from $270 for customers. Margins on all other months will increase to $125 from $100 for clearing members, $138 from $110 for members, and to $169 from $135 for customers.

Margins on all months of the Henry Hub and NGPL LA basis swap futures contracts will increase to $50 from $25 for clearing members, to $55 from $28 for members, to $68 from $34 for customers.

Margins on the first month of the San Juan, SoCal, Panhandle, Permian, and PGE&E City Gate basis swap futures contracts will increase to $625 from $500 for clearing members, to $688 from $550 for members, to $844 from $675 for customers. All other months will increase to $375 from $300 for clearing members, to $413 from $330 for members, and to $506 from $405 for customers.

Margins on the first month of the Transco Zone 6 basis swap futures contract will increase to $250 from $200 for clearing members, to $275 from $220 for members, to $338 from $270 for customers. Margins on the second to sixth months will increase to $500 from $400 for clearing members, $550 from $440 for members, and to $675 from $540 for customers. The margins on the seventh to 12th months will increase to $100 from $75 for clearing members, to $110 from $83 for members, and to $135 from $101 for customers. Margins on all other months will increase to $75 from $50 for clearing members, to $83 from $55 for members, and to $101 from $68 for customers.

Margins on the first month of the Northwest Pipeline, Rockies basis swap futures contract will increase to $625 from $500 for clearing members, to $688 from $550 for members, to $844 from $675 for customers. Margins on the second month will increase to $325 from $250 for clearing members, to $358 from $275 for members, and to $439 from $338 for customers. Margins on the third to sixth months will increase to $300 from $225 for clearing members, to $330 from $248 for members, and to $405 from $304 for customers. The margins on the seventh to 12th months will increase to $175 from $125 for clearing members, to $193 from $138 for members, and to $236 from $169 for customers. Margins on all other months will increase to $100 from $75 for clearing members, to $110 from $83 for members, and to $135 from $101 for customers.

Margins on the first month of the Kern River, and Questar basis swap futures contracts will increase to $625 from $500 for clearing members, to $688 from $550 for members, to $844 from $675 for customers. Margins on the second month will increase to $325 from $250 for clearing members, to $358 from $275 for members, and to $439 from $338 for customers. Margins on the third and fourth months will increase to $300 from $225 for clearing members, to $330 from $248 for members, and to $405 from $304 for customers. The margins on the fifth to 11th months will increase to $175 from $125 for clearing members, to $193 from $138 for members, and to $236 from $169 for customers. Margins on all other months will increase to $100 from $75 for clearing members, to $110 from $83 for members, and to $135 from $101 for customers.

Margins on the first month of the MichCon basis swap futures contract will increase to $625 from $500 for clearing members, to $688 from $550 for members, and to $844 from $675 for customers. Margins on all other months will increase to $100 from $75 for clearing members, to $110 from $83 for members, and to $135 from $101 for customers.

Margins on the first month of the Texas Eastern Zone M-3, the Northern Natural Gas Demarcation, and Northern Natural Gas Ventura Iowa basis swap futures contracts will increase to $250 from $200 for clearing members, to $275 from $220 for members, to $338 from $270 for customers. Margins on all other months will increase to $200 from $150 for clearing members, to $220 from $165 for members, and to $270 from $203 for customers.

Margins on the first month of the TCO basis swap futures contract will increase to $125 from $100 for clearing members, to $138 from $110 for members, to $169 from $135 for customers. Margins on all other months will increase to $100 from $75 for clearing members, $110 from $83 for members, and to $135 from $101 for customers.

Margins on the first month of the PGE&E Malin basis swap futures contract will increase to $625 from $500 for clearing members, to $688 from $550 for members, to $844 from $675 for customers. Margins on all other months will increase to $250 from $200 for clearing members, $275 from $220 for members, and to $338 from $270 for customers.

Margins on the first month of the NGPL Tex/OK basis swap futures contract will increase to $200 from $150 for clearing members, to $220 from $165 for members, and to $270 from $203 for customers. Margins on all other months will increase to $175 from $125 for clearing members, $193 from $138 for members, and to $236 from $169 for customers.

Margins on all months of the ANR Oklahoma, NGPL Mid-Continent, and Waha basis swap futures contracts will increase to $250 from $200 for clearing members, to $275 from $220 for members, and to $338 from $270 for customers.

Margins on the first month of the Sumas basis swap futures contract will increase to $625 from $500 for clearing members, to $688 from $550 for members, and to $844 from $675 for customers. Margins on all other months will increase to $450 from $350 for clearing members, to $495 from $385 for members, and to $608 from $473 for customers.

Margins on the first month of the Dominion Transmission Inc. - Appalachia basis swap futures contract will increase to $325 from $250 for clearing members, to $358 from $275 for members, and to $439 from $338 for customers. Margins on all other months will increase to $200 from $150 for clearing members, to $220 from $165 for members, and to $270 from $203 for customers.

Margins on the first month of the CIG Rockies basis swap futures contract will increase to $1,575 from $1,250 for clearing members, to $1,733 from $1,375 for members, and to $2,126 from $1,688 for customers. Margins on the second month will increase to $375 from $300 for clearing members, to $413 from $330 for members, and to $506 from $405 for customers. Margins on the third to sixth months will increase to $250 from $200 for clearing members, to $275 from $220 for members, and to $338 from $370 for customers. The margins on the fifth to 11th month will increase to $125 from $100 for clearing members, to $138 from $110 for members, and to $169 from $135 for customers. Margins on all other months will increase to $100 from $75 for clearing members, to $110 from $83 for members, and to $135 from $101 for customers.

Margins on the first month of the Tetco Eastern South/STX and Tennessee, Zone 0 basis swap futures will increase to $200 from $150 for clearing members, to $220 from $165 for members, and to $270 from $203 for customers. Margins on all other months will increase to $100 from $75 for clearing members, $110 from $83 for members, and to $135 from $101 for customers. Margins on all months of the Columbia Gulf Onshore basis swap futures contract will increase to $75 from $50 for clearing members, to $83 from $55 for members, and to $101 from $68 for customers.

The margins on the first month of the Tetco ELA; Transco Zone 3; , ANR, LA; Tennessee, LA 500; Trunkline, LA; and Texas Gas, SL basis swap futures contracts will increase to $75 from $50 for clearing members, to $83 from $55 for members, to $101 from $68 for customers. Margins on all other months will increase to $50 from $25 for clearing members, to $55 from $28 for members, and to $68 from $34 for customers.

Margins on the first month of the Henry Hub, Dominion, TETCO M-3, and Transco Zone 6 index swap futures contracts will increase to $1,475 from $1,175 for clearing members, to $1,623 from $1,293 for members, and to $1,991 from $1,586 for customers. Margins on all other months will increase to $125 from $100 for clearing members, $138 from $110 for members, and to $169 from $135 for customers.

The margins on the first month of the Chicago City Gate index swap futures contract will increase to $3,450 from $2,750 for clearing members, to $3,795 from $3,025 for members, and to $4,658 from $3,713 for customers. Margins on all other months will increase to $125 from $100 for clearing members, to $138 from $110 for members, and to $169 from $135 for customers.

The margins on the first month of the El Paso/Permian index swap futures contract will increase to $1,575 from $1,250 for clearing members, to $1,733 from $1,375 for members, and to $2,126 from $1,688 for customers. Margins on all other months will increase to $200 from $150 for clearing members, to $220 from $165 for members, and to $270 from $203 for customers.

The margins on the first month of the Houston Ship Channel index swap futures contract will increase to $950 from $750 for clearing members, to $1,045 from $825 for members, and to $1,283 from $1,013 for customers. Margins on all other months will increase to $125 from $100 for clearing members, to $138 from $110 for members, and to $169 from $135 for customers.

The margins on the first month of the Panhandle, Waha, PG& E City Gate, Rockies, SoCal, San Juan, and Sumas index swap futures contracts will increase to $1,250 from $1,000 for clearing members, to $1,375 from $1,100 for members, and to $1,688 from $1,350 for customers. Margins on all other months will increase to $125 from $100 for clearing members, to $138 from $110 for members, and to $169 from $135 for customers.

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