Notice to Members
Notice No. 48
01/29/2003
Initial Determination of Categories of Eligibility of Proposed Nominees for Election to the Board of Directors of NYMEX Holdings, Inc.
Important note: This notice corresponds to paper notice number 03-44.

Please be advised that the Membership Subcommittee made an initial determination that those persons who were recommended as proposed Director nominees for the 2003 elections are eligible to run in the following categories:

FLOOR BROKER
(ONE three-year term)

Stephen Ardizzone (ZONE)
Michael Cardelfe (MFC)
Robert Coakley (SWIM)
Jesse Harte (JESE)
Scott Hess (HESS)
John McNamara (JLMC)
William Schaefer (IRON)
William Wallace (WALZ)


TRADE
(ONE three-year term)

Michael Cardelfe (MFC)
Jesse Harte (JESE)

LOCAL
(ONE three-year term)

Stephen Ardizzone (ZONE)
Robert Coakley (SWIM)
Daniel Dicker (DANO)
David Greenberg (DGRE)
Scott Hess (HESS)
Michael McCallion (MMC)

FUTURES COMMISSION MERCHANT
(ONE three-year term)

John McNamara (JLMC)
William Wallace (WALZ)
David Greenberg (DGRE)

NOTE: In addition to the categories above, each of the foregoing proposed nominees are also eligible to be nominated in the "At-Large" category.

PUBLIC
(TWO three-year terms)

John Conheeney
E. Bulkeley Griswold
Lawrence Silver

EQUITY HOLDER
(ONE three-year term)

Steven Crystal
Joel Faber
Steven Meierfeld
James Mindling
John Moore
Irving Redel
Robert Sahn

To assist the Subcommittee in its final determination, 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.

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.

Should you have any questions or require any further information, please contact exchangeinfo@nymex.com