News Release

Unilateral Margin Credit for Brent Crude Oil Futures Against IPE Brent Crude Oil Futures Spreads

Fri Feb 04 2005
New York, N.Y., February 4, 2005 — The New York Mercantile Exchange, Inc., will offer a unilateral margin credit to market participants who hold positions on the NYMEX Brent crude oil futures contract against the International Petroleum Exchange Brent crude oil futures contract beginning at the close of business today.

The credit, which is 90% of the outright margin, will be granted in the ratio of one NYMEX Brent crude oil futures contract to one IPE Brent crude oil futures contract. Like other unilateral margin credits granted by the Exchange, interested clearing members will be required to submit a manual credit form listing the number of contracts that are part of the New York Mercantile Exchange/IPE Brent crude oil spread, with a minimum of 50 spreads.

Net margins are $350 for clearing members; $385 for members; and $473 for customers.

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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.

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