News Release

Exchange to Introduce Seven New Natural Gas Basis Swap Futures

Wed Feb 16 2005
NEW YORK, N.Y., February 16, 2005 — The New York Mercantile Exchange, Inc., announced today that it will introduce seven additional natural gas basis swap futures contracts on its NYMEX ClearPortsm electronic trading and clearing platform beginning on February 21 for the February 22 trade date.

The futures contracts are based on the differential between the prices reported by Platts Inside FERC Gas Market Report and the Exchange floor-traded natural gas futures contract. The new contracts and their trading symbols are: ANR Louisiana basis swap futures (ND); Kern River, Wyoming basis swap futures (NV); Questar basis swap futures (TA); Tennessee 500 Leg basis swap futures (NM); Tennessee Zone O basis swap futures (NQ); Texas Gas, Zone SL basis swap futures (TB); and Trunkline, LA basis swap futures (NU).

The contracts will be available for trading on NYMEX ClearPortsm from 7 PM Sundays through 2:30 PM Fridays, with a 45-minute break each day between 2:30 PM and 3:15 PM. Off-Exchange transactions can also be submitted solely for clearing through NYMEX ClearPortsm.

The contract units will be 2,500 million British thermal units (mmBtu), and the minimum price fluctuation will be $0.0025 per mmBtu.

Fees for transactions submitted for clearing on NYMEX ClearPortsm will be $0.54 per contract for members and $0.67 for non-members. For trading on NYMEX ClearPortsm, liquidity providers will receive $0.25 per contract, and the participant on the other side of the trade will pay an all-inclusive fee of $0.65. Fees for cash settlement will be $0.54 for members and $0.67 for non-members.

Exchange President James E. Newsome said, "As the natural gas products continue to be the most actively traded contracts on NYMEX ClearPortsm, these new basis contracts will help fulfill the demand of the energy industry for comprehensive risk management services."

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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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