These over-the-counter options are offered through an auction process and will be cleared by the Exchange. The first natural gas inventory auction occurred June 2nd, ahead of the June 3rd release of the gas storage number by the Energy Information Administration (EIA) of the Department of Energy. The first oil inventory auction occurred October 20th, two hours prior to the release of the oil storage number by the Department of Energy (DOE).

The Exchange's marketing department will hold an informational seminar to update the NYMEX customer base on the procedures of both types of inventory options.

Place: Exchange 10th Floor Executive Dinning Room

Date: Tuesday, January 18th, 2005

Time: 3:15 p.m.

Representatives from Longitude, the provider of the front-end trade entry system and ICAP, the exclusive broker for this product, will be in attendance to further explain the product and to answer any questions.

Refreshments will be served.