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American Stock Exchange Response To Media Reports

Date 07/03/2002

The American Stock Exchange® (Amex®) has issued the following statement in response to recent media reports:

"The American Stock Exchange is working with our parent to establish an appropriate timetable for our eventual separation from the NASD. A committee of the NASD Board has been formed, co-chaired by Bob Glauber and Sal Sodano, to guide that process. Until there is something definitive to report, we will have no further comment."