National Stock Exchange(SM) Part Of Coalition Issuing Statement On Regulation NMS

National Stock Exchange (NSX(SM)) today issued a joint statement of principles supporting the U.S. Securities and Exchange Commission's (SEC) proposal to bring competition and investor choice to the marketplace though national market system reform. NSX joins Ameritrade, Fidelity Investments, Instinet Group and Nasdaq in conveying a unified viewpoint on the future of the trade-through rule and the "opt out" exception proposed in the SEC's Regulation National Market System (NMS).

A copy of the Coalition's statement, titled "Modernize Our Nation's Financial Markets," is being provided to legislative and government representatives today. This statement is available on NSX's website at www.nsx.com .

"We support a regulatory framework that protects the nation's investors, reflects the realities of today's markets, and provides market participants with the choice they seek," said NSX Chief Executive Officer and President David Colker. "This is a critical juncture in our industry's history, an opportunity to modernize an antiquated concept and enhance exchange competition."

In addition to the Coalition's statement, Mr. Colker's April 21, 2004 testimony before the SEC on proposed Regulation NMS is also available on NSX's website.

About National Stock Exchange
National Stock Exchange, the nation's first all-electronic 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. Founded in 1885, the Exchange changed its name on November 7, 2003 to the National Stock Exchange from the Cincinnati Stock Exchange. NSX is now the third largest stock market in the United States.