Two types of contracts - Index and Swing - will be listed for six different locations including: Chicago, Henry Hub, Houston Ship Channel, Panhandle, El Paso – Permian and Waha. The Index contracts are monthly instruments and final settlement is based on the monthly average of differentials between daily and monthly price references for each specified location. The Swing contracts are daily instruments and final settlement is based on the daily price reference for each specified location.

All twelve contracts will be available for trading on NYMEX ClearPort^sm Trading or for submission solely for clearing as off-exchange transactions through NYMEX ClearPortsm Clearing. Natural Gas Index contracts will initially be listed for September 2004 through August 2007 for all locations. Natural Gas Swing contracts will initially be listed for September 1, 2004 through September 30, 2004 for all locations. The Swing contract listing will be expanded to include contracts for October 1st through October 31st on September 1st and will include all days remaining in the current and following month on an ongoing basis.

The contract unit for both product types is 2,500 mmbtu and the minimum tick is $0.0025/mmbtu.

Symbols for each of the contracts are as follows:

Fees for both Index and Swing contracts are identical to the current fees applied to the Exchange’s Natural Gas Basis contracts. Margins will be announced in a separate notice.