News Release

NYMEX and Multi Commidity Exchange of India Sign Licensing Agreement

Tue Jun 06 2006

NEW YORK, N.Y. and MUMBAI, INDIA, June 6, 2006 —The New York Mercantile Exchange, Inc. (NYMEX), and the Multi Commodity Exchange of India Limited (MCX) announced today that they have signed a five–year licensing agreement for the use of NYMEX energy futures settlement prices.

In addition to the current MCX rupee–denominated, financially settled light sweet crude oil futures contract, which is one–tenth of the size of the NYMEX light sweet crude oil futures contract, the new licensing agreement includes rupee–denominated natural gas, heating oil, and gasoline futures contracts that MCX plans to launch. These new contracts will be financially settled by MCX based on the settlement prices for the corresponding physically settled NYMEX futures contracts and one–tenth of the size of the NYMEX contracts. The agreement also anticipates the launch of additional rupee–denominated contracts in RBOB gasoline and propane futures.

Celebrating the agreement, India's Union Minister of Agriculture, Consumer Affairs, Food & Public Distribution, Sharad Pawar, marked the commencement of trading with the traditional ringing of the opening bell at NYMEX in New York.

In October 2005, NYMEX and MCX signed a memorandum of understanding that allows MCX to use NYMEX settlement prices for its light sweet crude futures contract.

James E. Newsome, NYMEX President and Chief Executive Officer, said, "Our agreement with MCX will provide a benchmark price reference for risk management to the Indian energy sector, a significant user of such products from the global standpoint, while also optimizing the cost of such risk management."

Venkat Chary, Chairman of the MCX, added, "Producers, users and investors in India can take benefit from access to globally aligned prices and trading practices in such energy products. We proudly bring these products to the Indian industry."

Jignesh Shah, Managing Director and Chief Executive Officer of MCX said, "MCX will leverage its pan-India presence, and its member and client network spread across the country, to offer mini–NYMEX energy contracts to a range of stakeholders in the industry. It will also facilitate the price discovery of these products in the Indian time zone based on local fundamentals."

About the New York Mercantile Exchange:
The New York Mercantile Exchange is the largest physical commodity exchange in the world, offering futures and options trading in energy and metals contracts and clearing services for off–exchange energy transactions. Through a combination of open outcry floor trading and electronic trading, a wide range of crude oil, petroleum product, natural gas, coal, electricity, gold, silver, copper, aluminum, and platinum group metals markets are available virtually 24 hours each day.

About Multi Commodity Exchange:
MCX is an independent and de–mutualised exchange with permanent recognition from the Government of India to facilitate nationwide online trading, clearing and settlement operations for the commodities futures market. MCX is the world's second largest silver exchange and third largest gold exchange in terms of trading volume among the top ten commodities derivatives exchanges in the world. MCX offers futures trading across a range of market segments including bullion, energy, ferrous and non–ferrous metals, agricultural and industrial products. Promoted by Financial Technologies (India) Ltd. a provider of transaction automation technologies, the key shareholders of MCX include State Bank of India (India’s largest commercial bank) and its subsidiaries, National Stock Exchange (NSE), National Bank for Agriculture and Rural Development (NABARD), and several other Indian banks.

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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.

Contact: Miten Mehta (Multi Commodity Exchange), 425-922-3748 or  Anu Ahluwalia (NYMEX), 212-299-2439

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