Please be advised that the following persons were recommended as proposed nominees for the 2003 elections:

Recommended as Proposed Nominees for "Director":

FLOOR BROKER
(ONE three-year term)

Robert Coakley (SWIM)
William Wallace (WALZ)

LOCAL
(ONE three-year term)

David Greenberg (DGRE)
Michael McCallion (MMC)

FUTURES COMMISSION MERCHANT
(ONE three-year term)

Stephen Ardizzone (ZONE)
John McNamara (JLMC)

TRADE
(ONE three-year term)

Michael Cardelfe (MFC)
Jesse Harte (JESE)

AT LARGE
(ONE three-year term)

Daniel Dicker (DANO)
Scott Hess (HESS)

EQUITY HOLDER
(ONE three-year term)

Steven Meierfeld
Irving Redel

PUBLIC
(TWO three-year terms)

John Conheeney
E. Bulkeley Griswold

Additional written recommendations by stockholders for proposed nominees may be submitted to the Subcommittee (c/o the Donna Talamo, Director & Assistant Corporate Secretary, NYMEX, One North End Avenue, Room 1548, New York, NY 10282 or by fax 212-301-4645) by 5:00 p.m. on January 24, 2003. Thereafter, a final list of recommended names and the categories in which they are proposed to run will be immediately posted.

NO PERSON WHOSE NAME HAS NOT BEEN SUBMITTED BY 5:00 P.M. ON FRIDAY, JANUARY 24, 2003 WILL BE PERMITTED TO STAND FOR ELECTION.

Please note that in order to qualify as a Public Director, a person must be knowledgeable of futures trading or financial regulation or otherwise capable of contributing to the deliberations of the Board of Directors and may not be a member of the Exchange or affiliated with any member of the Exchange or an employee of the Exchange.

After January 24, 2003, the Subcommittee will convene to make its determination as to the eligibility of the proposed nominees to run in the category for which he was proposed or otherwise. Such determination will be immediately posted. Should the Subcommittee determine that a proposed candidate is ineligible to run in the category for which he was recommended, written notice thereof shall immediately be submitted to that person. To assist the Subcommittee, NYMEX members may submit information regarding the eligibility of a proposed nominee to the Subcommittee. All such submissions must be received by 5:00 p.m. on January 31, 2003 at the Office of the Corporate Secretary. In addition, a proposed nominee may appeal the Subcommittee's categorization. Such appeal must be made by 5:00 p.m. on February 4, 2003. The Subcommittee will consider the appeal and make a final ruling no later than February 7, 2003. At that time, the Subcommittee will assign the proposed nominees to the proper categories, regardless of the category for which the proposed nominee was originally recommended; however, only persons who were recommended to be candidates for Vice Chairman are eligible to run for that office.

TO BE OFFICIALLY NOMINATED, EACH PROPOSED NOMINEE WILL BE REQUIRED TO FILE WITH THE OFFICE OF THE CORPORATE SECRETARY A DECLARATION WHICH STATES THAT CATEGORY IN WHICH THE PERSON INTENDS TO STAND FOR ELECTION. FAILURE TO SUBMIT A DECLARATION TO THE OFFICE OF THE CORPORATE SECRETARY BY 5:00 P.M. ON THURSDAY, FEBRUARY 13, 2003 WILL RENDER THE PROPOSED NOMINEE INELIGIBLE TO RUN IN ANY CATEGORY.

Note, only those persons who were proposed by January 24, 2003 will be permitted to be officially nominated.

Ballots will be mailed on or about February 25, 2003.

The election will be held on Tuesday, March 18, 2003.