NASD Board Approves Reduction In Nasdaq Market Data Fees For Non-Professional Users - Board Extends Nasdaq Pilot Pricing Program By One Year

The National Association of Securities Dealers, Inc. (NASD®), today announced that its Board of Governors extended by one year the Nasdaq® pilot pricing program, which reduces fees paid by non-professional users for the delivery of real-time market data. The board also approved a further reduction of monthly market data fees from $2.00 to $1.00 per non-professional user. Under the original program, the fees were reduced from $4.00 to $2.00 per user. These non-professional user fees entitle individual investors to unlimited real-time access to Nasdaq Level 1 market data through subscriber services provided by market data vendors and brokerage firms.

According to J. Patrick Campbell, Chief Operating Officer of the Nasdaq Stock Market®, "This pricing strategy is part of our on-going effort to get timely information to the investing public. By making it easier for market data vendors and retail brokers to provide real time data to their customers, we hope to add value to the services we offer our members, issuers and investors."

The Nasdaq Stock Market lists nearly 5,000 companies, has a larger dollar volume, and trades more shares per day than any other U.S. market. Nasdaq is a subsidiary of the NASD, the largest securities-industry, self-regulatory organization in the United States. For more information about Nasdaq, visit the Nasdaq Web site at www.nasdaq.com or the Nasdaq NewsroomSM at www.nasdaqnews.com.