Archipelago Holdings Inc. Shareholders Re-Elect Board Of Directors

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, today announced that shareholders had re-elected the following individuals to the Board of Directors for a term expiring in 2006:

     * Richard C. Breeden, Chairman of Richard C. Breeden & Co. and former
       Chairman of the U.S. Securities and Exchange Commission

     * Philip D. DeFeo, Chairman and Chief Executive Officer of PCX Holdings,
       Inc., the Pacific Exchange, Inc. and PCX Equities, Inc.

     * William E. Ford, President and Managing Director of General Atlantic,
       LLC

     * James J. McNulty, Former President and Chief Executive Officer of the
       Chicago Mercantile Exchange

     * George Munoz, Principal, Munoz Investment Banking Group, LLC; Partner
       Tobin, Petkus & Munoz

     * Michael J. Passarella, Former audit partner of PricewaterhouseCoopers
       LLP

     * Gerald D. Putnam, Co-Founder, Chairman and Chief Executive Officer of
       Archipelago Holdings, Inc.

     * Stuart M. Robbins, Former Chairman of the Board of Directors of
       Soundview Technology Group, Inc.

     * Robert G. Scott, Former President, Chief Operating Officer and Director
       of Morgan Stanley

Archipelago shareholders also ratified the audit committee's appointment of Ernst & Young, LLP as the company's independent auditors for the 2005 fiscal year.