Dear CME Globex Customers,

Effective this Sunday, May 21, 2006 (for trade date May 22), CME Housing futures will be launched on the CME Globex electronic trading platform.

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.

CME Housing futures are currently available for testing in the CME Globex certification environment.

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

If you have any questions or concerns, please contact your CME Globex Account Manager at 312.634.8700, or in Europe at +44.207.623.2550.

Thank you,

CME