Longer Trading Hours At Deutsche Börse And Eurex - Trading Until 8:00 p.m. As Of June 2, 2000

Effective June 2, 2000, Deutsche Börse and Eurex are extending the trading hours in all equities and warrants at FWB, the Frankfurt Stock Exchange, and in all German equity and equity index derivatives at Eurex until 8:00 p.m. (Frankfurt time).The exchanges made the announcement in Frankfurt on April 7. As of the announced date, closing prices for equities and closing index levels at FWB will be calculated at 8:00 p.m., the closing auction in Xetra will take place as of 8:00 p.m. The cash-market prices in trading on the floor will continue to be fixed at noon, as they have in the past.

The intraday auctions in Xetra will take place as of 1:00 p.m. and 5:30 p.m., thereafter trading will proceed without interruption.

At Eurex, the longer trading hours are valid for all products based on cash-market trading in German equities, such as DAX options, DAX futures and German stock options. The settlement prices will then be calculated on the basis of the closing price at 8:00 p.m..

Deutsche Börse and Eurex are introducing the longer trading hours to give private and institutional investors expanded opportunities to react to market movements in the United States. Both exchanges expect the new hours to meet with especially strong interest among private investors.