Beginning June 12 th, 2006 the NYMEX miNY™ Designee program will be modified. The Designees will continue to be able to trade NYMEX miNYs and other NYMEX full-sized cash-settled products (Big Cash) in a limited capacity during the trial period. This program is intended to be temporary until such time that the Board of Directors reviews the entire Designee program. The following is a summary of the program for miNY Designees starting on June 12, 2006. Unless, as otherwise noted below, all existing requirements, conditions and prohibitions will continue to remain in effect.

The following are approved trading scenarios:

• miNY vs. miNY (unlimited) This is unchanged from the current program.
• miNY vs. NYMEX physically settled (Physical Futures) in ratio. Example: 4 crude miNYs vs. 2 crude physical simultaneously. This is unchanged from the current program.
• miNY vs. Big Cash Futures (First 3 months only of Big Cash)
• Big Cash Futures vs. Big Cash Futures (First 3 months only of Big Cash)
• First 3 months of Big Cash Futures Spreads
• Designees can only trade from the tiers in their current booth

The following are prohibited trading scenarios :

• Physical Futures vs. Physical Futures (under no circumstance). Example: a Designee can not buy 5 CL and then sell 5 CL. This transaction is prohibited.
• Big Cash Futures vs. Physical Futures (any months). Example: a Designee can not buy 5 CL and then sell 5 WS. This transaction is prohibited.