News Release

NYMEX to Launch New Brent Crude Oil Calendar Spread Options Contracts

Fri May 18 2007

New York, N.Y., May 18, 2007 — The New York Mercantile Exchange, Inc. today announced that it will introduce Brent crude oil calendar spread options contacts for trading on the NYMEX trading floor and NYMEX ClearPort®, beginning on May 27 for trade date May 29.

The Brent crude oil calendar spread options contracts and their commodity codes are: one–month spread (AA), two-month spread (AB), three-month spread (AC), six-month spread (AM), and 12-month spread (AZ).

The initial listing will be for the exercise of the July 2007 contract months. A long call on the Brent crude oil calendar spread options contract will exercise into a long position in the closer Brent crude oil financial contract month and a short position in the longer–dated Brent crude oil financial contract month. A short put will exercise into a short position in the closer Brent crude oil financial contract and a long position in the longer–dated Brent crude oil financial contract month.

Expiration will be one business day before the termination of the underlying contract, and the options can be exercised only on that day.

The minimum price fluctuation will be one cent per barrel. Ten strike prices in increments of five cents per barrel above or below the at–the–money strike price, and the next five strike prices in increments of ten cents per barrel above the highest and below the lowest existing strike prices for a total of at least 31 strike prices.

The Brent crude oil one–month calendar spread options contract will be listed for 12 consecutive months beginning with the July 2007 to August 2007 spread through the June 2008 to July 2008 spread. The two-month calendar spread options contract will be listed for two two-month spreads beginning with the July 2007 to September 2007 through the August 2007 to October 2007 spread. The three-month calendar spread options contract will be listed for one three-month spread beginning with the July 2007 to October 2007 spread. The six–month calendar spread options contract will be listed for two six month spreads beginning with the December 2007 to June 2008 spread through the June 2008 to December 2008 spread. The 12–month calendar spread options contract will be listed for one twelve-month spread listed December 2007 to December 2008.

Information about fees is available on the NYMEX website at www.nymex.com.

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Contact: Anu Ahluwalia , 212) 299-2439 or  Keil Decker, 212-299-2209

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