National Stock Exchange(SM) March Trades Increase 28 Percent From Year Earlier

National Stock Exchange (NSX(SM)), the largest electronic stock exchange in the United States, today announced that the number of trades in March 2005 reached 34.1 million, up 28 percent from 26.7 million in March 2004. NSX averaged 1.6 million trades per day in March 2005, compared with 1.2 million trades per day in March 2004.

The third largest stock market in the country, NSX in March 2005 captured a 34-percent market share of trades in Nasdaq-listed stocks.

Share volume in March 2005 reached 11.8 billion, compared with the 2004 monthly record of 12.2 billion set in March 2004. The number of shares per day in March 2005 averaged 535.5 million, up from 531.6 million shares averaged per day in March 2004.

NSX reached a major milestone last month, commemorating its 120th anniversary on March 7, 2005. In addition, the year 2005 marks the 25th anniversary of NSX's launch of the first electronic exchange in the United States.

National Stock Exchange is the low-cost provider of exchange services and a recognized alternative to the primary markets. Having replaced its physical trading floor with a completely automated market in 1980, NSX has been a model of exchange efficiency and a driving force for change in the world of securities exchanges. For more information about NSX, visit the NSX website at http://www.nsx.com .