The Exchange previously announced on July 7, 2006, that the Exchange would be launching a NYMEX Brent Financial Contract (BB) on GLOBEX® beginning on Sunday evening, July 23rd for trade date July 24th. All fees for trading the BB contract on GLOBEX® will be waived through December 31, 2006. In that notice, the Exchange additionally announced that the Exchange will also list on the GLOBEX® system the WTI:Brent spread (WS:BB) as a transaction (to be split into the separate product legs for clearing). At that time, the Exchange announced that the fees for the BB leg would be waived but that the WTI leg (WS) would be subject to the usual exchange fees.

The Exchange has revisited the issue of fees for the WS leg, and is now proposing to waive all clearing and exchange fees for WS legs of such transactions through the end of 2006.

The proposed fee waiver triggers the provisions of New York Mercantile Exchange, Inc. (the “Exchange”) Bylaw Section 311, which contains rights pertaining to NYMEX “Core Products”, which are defined to include various listed NYMEX futures and option contracts and also to include “similar or “look-alike” contracts or successor or similar contracts or products.” In particular, Section 311 provides that any change in fees of any kind for Core Products is a “Special Matter,” subject to approval by the owners of Class A Memberships. This Fee Schedule (or fee waiver) therefore constitutes a Special Matter. Accordingly, owners of Class A Memberships have fifteen (15) days from the date of this Notice to submit a petition by the owners of 82 Class A Memberships (representing at least 10% of the 816 outstanding Class A Memberships) requesting a Special Meeting of the owners of Class A Memberships to vote on the Fee Schedule. If such petition is not received within this time period, or if the Fee Schedule is approved at such a Special Meeting, the Fee Schedule will be deemed approved and will subsequently be submitted to the Commodity Futures Trading Commission (CFTC). A special meeting request form is attached to the end of this Notice in satisfaction of Exchange Bylaw Section 202 (B).

In the event that there is no objection by owners of Class A Memberships following the end of the process noted above, this fee waiver will be applied retroactively to commence as of trade date July 24, 2006.

Inquiries regarding the aforementioned may be directed to Donna Talamo, Vice President – Office of the Corporate Secretary, at dtalamo@nymex.com or by fax to 212-301-4645.

RESPONSE FORM - REQUEST FOR SPECIAL MEETING

My name is _____________________ and I am the owner, either directly or by ABC, of __________ Class A Membership(s) in the New York Mercantile Exchange, Inc., and I hereby request a special meeting in response to the Fee Schedule contained in this Notice.

Signed By:

_____________________

Print Name: