Amsterdam Exchanges Fair Value Method

Amsterdam Exchanges announces the following further to AEX-Announcement 2000-061 and Press Release 2000-040. With the settlement of open option positions by means of the fair value method, the theoretical price for option series with a remaining time to maturity of 12 months and longer will be determined by means of the Black & Scholes formula. Amsterdam Exchanges will of course take the intrinsic value into account when determining the value of the open option series. If the Black & Scholes formula calculates a value as being less than the intrinsic value, settlement will take place on the basis of the intrinsic value.