Notice to Members

Notice No. 91
03/04/2004

Exchange Announces Trading Fees for PJM Calendar Month Swap Electricity Futures Contracts

The New York Mercantile Exchange, Inc., today announced Exchange transaction fees that will be implemented beginning with the April 1, 2004 trading session (which starts at 3:15 PM on March 31, 2004), for the PJM Calendar Month Swap electricity futures contracts.

The fees for trading in open outcry are the same as all other NYMEX futures, which are:

Futures and Options Clearing Transactions

Member Day Trade	$0.15
Member Overnight Trade	$0.40
Non-Member	$0.85
Off-the-floor Cross Division Trading	$0.50

The EFP/EFS/EOO fees for contracts executed through the floor will be:

Member	$2.50
Non-Member	$2.50
Off-the-floor Cross Division Trading	$2.50

The fees for trading on ClearPort^sm Trading are:

Liquidity provider	$1.20 paid
Opposite side	$4.20 all-inclusive

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