ICE To Begin Introduction Of Over 50 New OTC Cleared Contracts - Initial Listing Of Ten Contracts On March 3

IntercontinentalExchange (NYSE: ICE), the leading electronic energy marketplace, announced plans to introduce more than 50 additional cleared contracts in its over-the-counter (OTC) markets during the first half of 2006, with the first ten contracts expected to be available for trading beginning Friday, March 3.

The first set of products consists of ten OTC swaps contracts based on North American and Canadian financially-settled natural gas, which are currently offered on the ICE platform. This introduction will be followed by additional cleared products to enhance ICE’s suite of cleared natural gas, power and oil contracts. The initial set of new contracts available for OTC clearing includes:

• Alberta Basis Swap (CGPR)
• Chicago Basis Swap (NGI)
• Malin Basis Swap (NGI)
• PG&E Basis Swap (NGI)
• Socal Basis Swap (NGI)
• Rockies Basis Swap (Platts Inside FERC)
• Sumas Basis Swap (Platts Inside FERC)
• Houston Ship Channel Basis Swap (Platts Inside FERC)
• Henry Hub Basis Swap (Platts Inside FERC)
• Henry Hub Index Swap (Platts Inside FERC/Gas Daily)

In 2005, traded volume in ICE’s cleared OTC contracts totaled 47.4 million contracts, an increase of 161.8% over the 18.1 million cleared contracts traded in ICE’s electronic OTC markets in 2004. ICE provides its cleared OTC products through established clearing firms on the ICE platform and in cooperation with LCH.Clearnet, the largest clearinghouse in Europe.

“We are pleased to offer this important suite of cleared natural gas basis swaps to the OTC marketplace,” said ICE President and Chief Operating Officer Charles A. Vice. “As we continue to develop new electronically traded products, ICE is setting the standard within the OTC energy markets by offering products available for trading on both a cleared and bilateral basis on one screen and in the same price stream.”

ICE pioneered the concept of cleared OTC energy contracts, which provide participants with access to centralized clearing and settlement arrangements. The introduction of cleared OTC contracts has reduced bilateral credit risk and the amount of capital market participants are required to post on each OTC trade, as well as the resources required to enter into multiple negotiated bilateral settlement agreements to enable trading with other counterparties. The cleared contracts through LCH.Clearnet also enable participants transacting both in ICE Futures markets and ICE’s OTC markets to cross-margin their positions.