News Release

NYMEX to Introduce Steel Futures Contracts Based on World Steel Dynamics Steel Benchmarker Index

Mon Jul 23 2007

New York, NY, July 23, 2007 — The New York Mercantile Exchange, Inc., the world's largest physical commodity exchange and a subsidiary of NYMEX Holdings, Inc. (NYSE:NMX), signed a licensing agreement with World Steel Dynamics, Inc. (WSD), a leading steel industry information service, and will introduce a steel futures contract based on WSD's SteelBenchmarkerTM benchmark pricing system on the NYMEX ClearPort® electronic clearing and trading platforms later this year.

NYMEX and WSD will work together to provide marketing and education for these financially settled contracts. The expected contract will be USA hot—rolled band steel futures. The contract size will be 20 short tons with a minimum price fluctuation of $0.50 per short ton and will be listed for 18 consecutive months.

SteelBenchmarkerTM is a an index developed by World Steel Dynamics. Twice each month, steel mills, traders, distributors and steel users in the United States, Western Europe, and those who buy or sell steel internationally, provide their confidential opinions to the SteelBenchmarkerTM system on the spot price for near–term delivery to the mid-sized buyer. Final settlement day will be the fourth Wednesday of the current contract month.

NYMEX Chairman Richard Schaeffer said, "We are very pleased to be the first exchange to offer a steel futures contract to serve the North American market. NYMEX has worked closely with the steel industry for several years to develop a contract which will meet the needs of producers and consumers and serve as a transparent benchmark for the industry."

World Steel Dynamics Managing Partner Peter Marcus said, "We see a great market for steel futures contracts in the steel industry. Price volatility has increased in the steel market, and futures contracts will enable end users and producers to lock in prices and margins. NYMEX and World Steel Dynamics have teamed up to provide a new price risk tool, based on the SteelBenchmarkerTM index. The SteelBenchmarkerTM was developed to provide unbiased spot market price opinions and incorporates numerous safeguards to prevent collusion, manipulation or other misuse. We are pleased to partner with the NYMEX, the global leader in physical commodities trading, to introduce steel futures contracts."

About NYMEX Holdings, Inc.
NYMEX Holdings, Inc. (NYSE:NMX) is the parent company of the New York Mercantile Exchange, Inc., the world's largest physical commodities-based futures and options exchange in the world, offering futures and options trading in energy and metals contracts and clearing services for more than 300 off–exchange energy contracts. Through a hybrid model of open outcry floor trading and electronic trading on CME Globex®, and NYMEX ClearPort®, NYMEX offers crude oil, petroleum products, natural gas, coal, electricity, gold, silver, copper, aluminum, platinum group metals, emissions, and soft commodities contracts for trading and clearing virtually 24 hours each day. Further information about NYMEX Holdings, Inc. and the New York Mercantile Exchange, Inc. is available on the NYMEX website at http://www.nymex.com.

About World Steel Dynamics
World Steel Dynamics is a "Strategic Information Service" providing critical and new perspectives on possible and probable steel industry developments. WSD regularly analyzes and publishes reports on steel prices, steelmakers' costs, steel supply/demand and steel finances. WSD also undertakes customized steel research assignments, specialized in–depth studies, private consulting studies and investment banking assessments. Further information about WSD is available on the website at http://www.worldsteeldynamics.com.

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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.

Anu Ahluwalia 212-299-2439 or  Keil Decker 212-299-2209

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