Archipelago Holdings Annual Shareholder Meeting Set For May 10, 2005

Archipelago Holdings, Inc. (PCX: AX), owner and operator of the Archipelago Exchange(SM) (ArcaEx(R)), the nation's first totally open, all-electronic stock exchange, will hold its annual meeting of shareholders on May 10th at 9:30 a.m., CDT, at the Metropolitan Club, Chicago, Illinois.

Shareholders of record at the close of business on March 22, 2005, will be eligible to vote at the meeting.

The items of business are:

• To elect all nine members of the Company's Board of Directors for terms expiring 2006.
• To ratify the appointment of Ernst & Young LLP as the Company's independent auditors for the fiscal year ending December 31, 2005.

The meeting will be webcast live from Archipelago's Investor Relations webpage available at http://www.archipelago.com and will be accessible by telephone at the following numbers:

Dial-in number: 800.901.5248 (DOMESTIC)
+1 617.786.4512 (INTERNATIONAL)
Passcode: 59457926
Web address:
http://investor.archipelago.com/phoenix.zhtml?c=140290&p=irol-irhome

A replay of the call will be available beginning at 12:30 p.m. EDT May 10th and running through May 17th. The replay can be accessed by dialing either 888.286.8010 (DOMESTIC) or +1 617.801.6888 (INTERNATIONAL). The pass-code is 93722471.