International Securities Exchange Announces Pricing Of Its Secondary Public Offering

The International Securities Exchange, Inc. (NYSE:ISE) today announced that it has priced its previously disclosed secondary offering of Class A common stock at $30.00 per share. The offering consisted of 8,000,000 shares of Class A common stock, all of which were sold by existing stockholders. ISE will not receive any proceeds from the sale of the shares. In addition the underwriters may also purchase up to an additional 1,200,000 shares of Class A common stock from existing stockholders by January 6, 2006.

Goldman, Sachs & Co. and UBS Investment Bank are the joint book-running managers of the offering. Banc of America Securities LLC, Bear, Stearns & Co. Inc., Deutsche Bank Securities, Merrill Lynch & Co. and Morgan Stanley are co-managers, with Keefe, Bruyette & Woods and Sandler O'Neill & Partners, L.P. serving as junior co-managers.

Copies of the final prospectus relating to this offering, when available, may be obtained from Goldman, Sachs & Co., Prospectus Department, 85 Broad Street, New York, New York 10004 (telephone number: 212-902-1000) and UBS Investment Bank, Prospectus Department, 299 Park Avenue, New York, New York 10171 (telephone number: 212-821-3000).

A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

ISE Background
The International Securities Exchange was founded on the principle that technology fosters and infuses new efficiencies and operational innovations into securities trading. After developing an innovative market structure that integrated auction market principles into an advanced screen-based trading system, ISE launched the first fully electronic US options exchange in May 2000. ISE continually enhances its trading systems to provide investors with the best marketplace to execute their options orders.