Nasdaq Expands Board - Positioning For Its Anticipated IPO And Nasdaq's Global Expansion

The Nasdaq Stock Market, Inc. (Nasdaq®), announced today that it has expanded its Board of Directors to 18 and added six new directors to the Board. The announcement comes following Nasdaq's first annual meeting of its shareholders, held today at the Nasdaq MarketSiteSM, Four Times Square in New York City. The six new Nasdaq® directors - with the group they represent (i.e., industry, non-industry, public, or staff) - are:

Dr. Josef Ackermann,: Head of Corporate and Institutional Clients Group Deutsche Bank AG (Industry Director)
Michael W. Clark, Managing Director and Head of Global Equity Trading Credit Suisse First Boston (Industry Director)
Secretary William S. Cohen, Chairman & Chief Head of Global Equity Trading Credit Suisse First Boston (Public Director)
F. Warren Hellman, Chairman Hellman & Friedman LLC (Non-Industry Director)
Kenneth D. Pasternak, Chairman, Chief Executive Officer, and President Knight Trading Group, Inc. (Industry Director)
Hardwick Simmons, Chairman, Chief Executive The Nasdaq Stock Market, Inc. (Staff Director)

Commenting on the election of the new directors, Nasdaq Chairman Frank Zarb said, "These additions place Nasdaq in a better position than ever before from the standpoint of its corporate governance team. Each of these additions brings experience and wisdom to the process of guiding Nasdaq in the future. Joseph Ackerman and Michael Clark both bring world-class international banking and investment banking credentials. Former Secretary of Defense, Senator, and Member of the U.S. House of Representatives William Cohen brings knowledge of public policy and government at the highest levels. Warren Hellman brings a lifetime of experience in growing and nurturing successful new ventures. Ken Pasternak heads Nasdaq's largest Market Maker, is a partner in Nasdaq EuropeSM, and a recognized leader in the equities business. Wick Simmons is Nasdaq's CEO and the leader who will move Nasdaq to the next level. With the expanded team of directors on our Board, we are in good shape to pursue an initial public offering and move forward on both domestic and global initiatives."

Nasdaq had previously announced its intention to move to a public offering when the timing was right, subject to formal designation by the Securities and Exchange Commission of Nasdaq as an exchange, progress on the SuperMontageSM (Nasdaq's next generation trading system), and market conditions. The earliest possible time is expected to be in 2002.

Prior to today's annual meeting, the Nasdaq Board elected Warren Hellman to fill the vacant directorship of Elaine Chao, who left to join the Bush administration as Labor Secretary. This brought the total number of directors to fifteen. The terms of five of these fifteen directors expired today, and Nasdaq shareholders elected Messrs. Simmons, Clark, Pasternak, Baxter, and Sodhani to fill these directorships. Effective upon the conclusion of the meeting, the Board voted to increase its size to 18 and elected Drs. Ackerman, Markese, and Secretary Cohen to the Board. Messrs. Baxter, Sodhani, and Dr. Markese previously have served as Nasdaq directors. In addition to the six recent additions to the Board noted above, the 12 other Nasdaq directors - with the group they represent - are:

H. Furlong Baldwin, Chairman Mercantile Bankshares Corporation (Non-Industry Director)
Frank E. Baxter, Chairman Jefferies Group, Inc. (Industry Director)
Michael Casey, Executive Vice President, Chief Financial Officer, Chief Administrative Officer Starbucks Corporation (Non-Industry Director)
Dr. John D. Markese, President American Association of Individual Investors (Public Director)
E. Stanley O'Neal, Executive Vice President and President, U.S. Private Client Group Merrill Lynch & Co., Inc. (Industry Director)
Vikram S. Pandit, Co- President and Chief Operating Officer Institutional Securities Group Morgan Stanley Dean Witter & Co. (Industry Director)
David Pottruck, President and Chief Executive Officer The Charles Schwab Corporation (Industry Director)
Arthur Rock, Principal Arthur Rock & Co. (Non-Industry Director)
Richard C. Romano, President Romano Brothers & Co. (Industry Director)
Arvind Sodhani , Vice President and Treasurer Intel Corporation (Non-Industry Director)
Sir Martin Sorrell, Group Chief Officer WPP Group plc. (Non-Industry Director)
Frank Zarb, Chairman The Nasdaq Stock Market, Inc. (Staff Director)

The Nasdaq Stock Market lists nearly 4,600 companies, trades more shares per day than any other U.S. market, and has a larger dollar volume of trades than the next three largest markets in the world combined. For more information about Nasdaq, visit the Nasdaq Web site at www.nasdaq.com or the Nasdaq NewsroomSM at www.nasdaqnews.com.