Korea Futures Exchange Trading Hours To Be Changed On January 3, 2005

The Korea Futures Exchange (KOFEX) has announced the following trading schedule for the first trading day of 2005. On January 3, 2005, when the market opens for the new year, trading in stock index products will start at 10:00, one hour late than usual, in line with the opening time of the underlying stock markets. Trading hours for the rest of the products will be the same. Details are as follows:

Products	Current Trading Hours	On January 3, 2005
KOSPI200 futures and options, Single stock options (Pre-open session)	09:00-15:15 (08:00-09:00)	10:00-15:15 (09:00-10:00)
KOSDAQ50 futures and options (Pre-open session)	09:00-15:15 (08:30-09:00)	10:00-15:15 (09:30-10:00)
KTB futures and options, 5TB futures, CD interest rate futures, MSB interest rate futures (Pre-open session)	09:00-15:00 (08:30-09:00)
US dollar futures and options, Gold futures (Pre-open session)	09:00-16:00 (08:30-09:00)

Note: The Korea Stock Exchange and KOSDAQ Stock Market open one hour late, 10:00, on January 3, 2005, the first trading day of the new year.