NYBOT To Complete Transition To New NYSE Composite Index Futures Contract With Expiry Of September 2003 Contracts

On March 7, 2003, the New York Board of Trade^® (NYBOT^®) index markets launched trading in futures contracts based on the newly revised NYSE Composite Index, under a two-stage strategy that included a later phasing out of futures and options contracts on the old NYSE Composite Index. The new products follow the creation of the revised NYSE Index by the New York Stock Exchange in January 2003.

On September 18, 2003, the September 2003 contracts on both the old and new indexes will both expire, bringing to completion the second stage of the launch strategy. This event closes out the 21-year life of trading contracts on the old Index, and marks the completion of the launch of futures and options on the new Index.

"One of the exchange's goals is to offer our industry and customers new products as they're needed," stated Charles H. "Harry" Falk, NYBOT's President and CEO, "and while we've traded the old NYSE Composite Index since 1982, we're very excited to have the opportunity to offer our customers the new Index."

The New York Board of Trade (NYBOT) is the parent company of the Coffee, Sugar and Cocoa Exchange, Inc. (CSCE) and the New York Cotton Exchange (NYCE). Through its two exchanges and their subsidiaries and divisions, NYBOT offers an expanding range of agricultural, currency and index products. Information about the New York Board of Trade can be found at www.nybot.com and www.nybotlive.com.