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Court Denies Lawsuit To Halt Vote On Transfer Of Control Of American Stock Exchange From NASD To AMC - Vote To Proceed As Scheduled

Date 16/03/2004

The American Stock Exchange (Amex) today announced that the New York State Supreme Court denied a lawsuit filed by a group of dissident members against the NASD and The Amex Membership Corporation (AMC) in an attempt to block a vote to transfer control of Amex to AMC. Judge Richard Lowe, III denied all relief requested by the plaintiffs and said that the vote, which is scheduled to take place on Thursday, March 18th, will proceed as scheduled.

The American Stock Exchange® (Amex®) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 138 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks.