News Release

NYMEX to Change Margins for Natural Gas Basis, Index Swap Futures Contracts

Mon Feb 11 2008

NEW YORK, N.Y., February 11, 2008 -- The New York Mercantile Exchange, Inc. today announced margin changes for some of its natural gas basis and index swap futures contracts, beginning at the close of business tomorrow.

Margins for the first month of the CIG Rockies basis swap futures contract will decrease to $1,500 from $1,800 for clearing members, to $1,650 from $1,980 for members, and to $2,025 from $2,430 for customers. Margins for the second to sixth months will decrease to $1,500 from $2,000 for clearing members, to $1,650 from $2,200 for members, and to $2,025 from $2,430 for customers. Margins for all other months will remain unchanged.

Margins for the first month of ANR Oklahoma basis swap futures contract will decrease to $500 from $600 for clearing members, to $550 from $660 for members, and to $675 from $810 for customers. The margins for all other months will decrease to $250 from $300 for clearing members, to $275 from $330 for members, and to $338 from $405 for customers. 

Margins for first month of the San Juan basis swap futures contract will decrease to $500 from $600 for clearing members, to $550 from $660 for members, and to $675 from $810 for customers.  Margins for all other months will remain unchanged.

Margins for the first month of the Northwest Pipeline, Rockies basis swap futures contract will decrease to $1,200 from $1,500 for clearing members, to $1,320 from $1,650 for members, and to $1,620 from $2,025 for customers. Margins for the second to sixth months will decrease to $1,000 from $1,200 for clearing members, to $1,100 from $1,320 for members, and to $1,350 from $1,620 for customers.  Margins for all other months will remain unchanged.

Margins for the Waha basis swap futures contract will decrease to $500 from $700 for clearing members, to $550 from $770 for members, and to $675 from $945 for customers. Margins for the second month will decrease to $300 from $400 for clearing members, to $330 from $440 for members, and to $405 from $540 for customers. Margins for all other months will remain unchanged.

Margins for the first month of the Texas Eastern Zone M-3 basis swap futures contract will increase to $1,500 from $1,000 for clearing members, to $1,650 from $1,100 for members, and to $2,025 from $1,350 for customers. Margins for the second to fifth months will increase to $600 from $500 for clearing members, to $660 from $550 for members, and to $810 from $675 for customers. Margins all other months will remain the same.

Margins for the first month of the Transco Zone 6 basis swap futures contract will decrease to $3,500 from $4,000 for clearing members, to $3,850 from $4,400 for members, and to $4,725 from $5,400 for customers. Margins for the second to fifth months will decrease to $2,500 from $3,000 for clearing members, to $2,750 from $3,300 for members, and to $3,375 from $4,050 for customers. Margins for the sixth to 10th months will decrease to $750 from $1,000 for clearing members, to $825 from $1,100 for members, and to $1,013 from $1,350 customers. Margins for all other months will remain unchanged. 

Margins for the first and second months of the PG&E Citygate basis swap futures contract will decrease to $500 from $700 for clearing members, to $550 from $770 for members, and to $675 from $945 for customers. The margins for the third to fifth months will decrease to $300 from $400 for clearing members, to $330 from $440 for members, and to $405 from $540 for customers. Margins for all other months will remain unchanged. 

Margins for the first month of the NGPL Tex/Ok will decrease to $500 from $600 for clearing members, to $550 from $660 for members, and to $675 from $810 for customers. The margins for the second month will decrease to $250 from $350 for clearing members, to $275 from $385 for members, and to $338 from $473 for customers. Margins for all other months will remain the same. 

Margins for the first and second months of the Northern Natural Gas Demarcation and the Northern Natural Gas Ventura, Iowa basis swap futures contracts will decrease to $500 from $600 for clearing members, to $550 from $660 for members, and to $675 from $810 for customers. The margins for the third to fifth months will decrease to $250 from $350 for clearing members, to $275 from $385 for members, and to $338 from $473 for customers. Margins for all other months will remain unchanged.

Margins for the first month of the Panhandle basis swap futures contract will decrease to $500 from $600 for clearing members, to $550 from $660 for members, and to $675 from $810 for customers. Margins for the second month will decrease to $350 from $400 for clearing members, to $385 from $440 for members, and to $473 from $540 for customers. Margins for all other months will remain the same.

Margins for the first month of the Permian basis swap futures contract will decrease to $500 from $800 for clearing members, to $550 from $880 for members, and to $675 from $1,080 for customers. Margins for the second month will decrease to $350 from $400 for clearing members, to $385 from $440 for members, and to $473 from $540 for customers. Margins for all other months will remain the same.

Margins for the first and second months of the Transco Zone 6 index swap futures contract will increase to $8,000 from $5,000 for clearing members, to $8,800 from $5,500 for members, and to $10,800 from $6,750 for customers. Margins for the third month will increase to $2,000 from $1,000 for clearing members, to $2,200 from $1,100 for members, and to $2,700 from $1,350 for customers. Margins for all other months will remain unchanged.

Margins for the first and second months of the TETCO M-3 index swap futures contract will increase to $4,000 from $2,000 for clearing members, to $4,400 from $2,200 for members, and to $5,400 from $2,700 for customers. Margins for the third month will increase to $1,000 from $200 for clearing members, to $1,100 from $220 for members, and to $1,350 from $270 for customers. Margins for all other months will remain unchanged.


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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: Steffanie Marchese 212-299-2455 or Keil Decker, 212-299-2209

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