Archipelago Holdings, Inc. To Be Included In Russell Indexes

Archipelago Holdings, Inc. (PCX: AX), owner and operator of the Archipelago Exchange(SM) (ArcaEx(R)), today announced that the company has been named a component of several Russell Indexes, including the Russell 2000(R), following the company's recent initial public offering on August 12, 2004. The addition of Archipelago was made possible through Russell's new policy of reconstituting indexes quarterly to incorporate recent IPOs.

Launched in 1984, Russell produces a family of 21 U.S. equity indexes. The indexes are market cap-weighted and include only common stocks incorporated in the United States and its territories. All indexes are subsets of the Russell 3000(R) Index, which represents approximately 98% of the investable U.S. equity market and is constructed to provide a comprehensive, unbiased and stable barometer of the broad market, completely reconstituted annually to ensure new and growing equities are reflected.

"Incorporation in multiple Russell Indexes is extremely valuable to Archipelago as a recent IPO," said Jerry Putnam, CEO of Archipelago. "It's exciting to surround ourselves with the leading performers in financial services and across industries, a distinction we're very proud to have."

Archipelago will be added to the following indexes on September 30:

Russell 2000(R) Index
Russell 3000(R) Index
Russell 2000(R) Value Index
Russell 2000(R) Growth Index
Russell 3000(R) Value Index
Russell 3000(R) Growth Index
Russell 2500(TM)
Russell 2500(TM) Growth
Russell 2500(TM) Value
Russell Small Cap Completeness(TM) Index
Russell Small Cap Completeness Value(TM) Index
Russell Small Cap Completeness Growth(TM) Index

According to Russell, 48 IPOs are expected to be added across various indexes in the first quarterly rebalance on September 30. Russell announced the rebalance policy changes on September 15, 2004.