NYBOT Statement On Permit Holder Complaint

While the New York Board of Trade® (NYBOT®) cannot comment on the specifics of the complaint that has allegedly been filed on behalf of certain NYBOT permit holders, which the exchange has not yet received, we can confirm that NYBOT carefully considered the rights of permit holders throughout the transaction. We note that under exchange bylaws, permit holders do not own equity in the exchange, have no right to vote, and have no right to receive any distributions of cash or property, whether upon liquidation, merger or otherwise.

NYBOT intends to go forward with the meeting of its equity members and the vote on the merger scheduled for Monday, December 11, 2006, and we do not believe that the suit will delay the closing of our transaction.

NYBOT Bylaw Section 101(b) regarding permit holders’ rights follows:

(b) Permit Holders, Lessees and Member Firms shall have all of the obligations of Equity Members except as provided by the Board but shall not constitute Equity Members within the meaning of the Rules, shall not have any of the rights and privileges of Equity Membership and shall have only such rights and privileges as are set forth in the Rules or as prescribed by the Board, which rights will exist as a matter of contract only. Permit Holders, Lessees and Member Firms shall not constitute “members” within the meaning of the NPCL and shall not have any of the rights or privileges of “members” under the NPCL. Without limiting the generality of the foregoing, Permit Holders, Lessees and Member Firms will not have any voting rights in the Exchange or any rights to receive any distributions of cash, securities or other property, whether on dissolution, liquidation, merger, consolidation or otherwise.

Statement Regarding Forward Looking Statements - Statements in this press release that are not current or historical facts are "forward-looking statements" that involve risks and uncertainties that reflect the plans and expectations of NYBOT. Such forward-looking statements are based on the current assumptions and beliefs of NYBOT in light of the information available to it, and involve known and unknown risks and uncertainties. Such risks, uncertainties and other factors may cause the actual results, decisions or outcomes to differ materially from those expressed or implied in the forward-looking statements. NYBOT undertakes no obligation to update publicly any forward-looking statements after the date of this press release.

The New York Board of Trade (NYBOT) is New York’s original futures exchange, where the world trades food, fiber and financial products. For well over a century, the New York Board of Trade has provided reliability, integrity and security in a global marketplace for cocoa, coffee, cotton, ethanol, orange juice, wood pulp and sugar, as well as currency and index futures and options. Information about the New York Board of Trade can be found at www.nybot.com and www.nybotlive.com. To learn more about New York Board of Trade Futures & Options for Kids, the Exchange’s non-profit group, please go to www.futuresandoptionsforkids.org.