Archipelago Holdings, L.L.C. Has Announced Its Intention To Conduct An Initial Public Offering Of Its Equity Securities

Archipelago Holdings, L.L.C. has announced its intention to conduct an initial public offering of its equity securities. Archipelago Holdings, L.L.C. owns and operates The Archipelago Exchange (ArcaEx™), the nation’s first totally-open all-electronic stock exchange. A registration statement is expected to be filed with the Securities and Exchange Commission during the next several months and the sale is expected to be made during 2004. The offering will be made only by means of a prospectus.