Dear CME Globex Customers,

Effective April 9, 2006, CME Housing futures will be launched in the CME Globex certification environment for customer testing.

CME Housing futures and options are based on the S&P/CS Home Price Indexes. These futures and options are designed to provide a facile way for institutional and individual investors to gain exposure to real estate risk and effectively diversify their portfolios. In fact, this novel market may have the effect of reducing transaction costs for trading real estate. These contracts also provide an efficient hedging mechanism. CME Housing futures will be available exclusively on the CME Globex platform; options on CME Housing futures will be available on the trading floor. Both futures and options are block trade eligible.

More information on CME Housing futures and options is available at www.cme.com/housing.

Thank you,

CME