KCBT gets approval for new contract based on Internet.com's ISDEX Internet stock index

The Kansas City Board of Trade has received government approval to trade futures and futures options based on the ISDEX index of Internet stocks. ISDEX, The Internet Stock Index created by internet.com LLC, is the leading and the oldest Internet stock index in the marketplace. The ISDEX contains 50 stocks representative of the diversity of publicly traded U.S. companies that derive revenue primarily from the Internet, including stocks from the software, hardware, content, commerce and communications/access sectors. The KCBT filed to trade ISDEX futures and futures options in mid-December, and now has received approval from the Commodity Futures Trading Commission. Trading will begin June 1, 1999. Using ISDEX contracts, investors will have the ability to hedge against risk in the Internet stock sector or to speculate on its future. "The increasing economic importance of the Internet, combined with the sector's stock volatility and corresponding need for risk management, makes ISDEX contracts a compelling financial instrument," said Michael Braude, KCBT president. "KCBT ISDEX contracts will bring the risk transfer, price discovery and financial strength of the futures industry to the Internet." The Kansas City Board of Trade enters into the ISDEX contracts with a strong background in stock index futures, having pioneered the very concept worldwide with the launch of Value Line and Mini Value Line futures in 1982 and 1983, respectively. The KCBT's licensor in the venture, internet.com LLC, has extensive expertise in the Internet arena. The internet.com network includes 47 award-winning websites, 27 e-mail newsletters, more than 19 online forums and 43 moderated e-mail discussion lists for Internet industry and Internet technology professionals, Web developers and sophisticated Internet users. "Internet investors now have the opportunity to trade the most popular Internet index," said Alan M. Meckler, chairman and chief executive officer of internet.com LLC. "We are excited about our future relationship with the Kansas City Board of Trade." For more information on KCBT ISDEX futures and futures options, please visit the KCBT's website at www.kcbt.com, and internet.com LLC's website at www.isdex.com.