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Nymex Announces Departure Of EVP & COO At Year-End

Date 01/10/2003

The New York Mercantile Exchange, Inc., today announced that, by mutual agreement, Neal Wolkoff's contract as executive vice president and chief operating officer will not be renewed at the end of the year.

Mr. Wolkoff joined the Exchange in 1981 as an attorney, and held several officer level positions prior to being designated the executive vice president in 1993 and chief operating officer in 2002. Following the death of Exchange President R. Patrick Thompson, he served as acting president from July 2000 through July 2001, and he was most recently responsible for spearheading the Exchange's successful off-exchange clearing enterprise. He has also been an honors program trial attorney with the Commodity Futures Trading Commission Division of Enforcement, and an attorney in private practice.

Mr. Wolkoff is a member of the board of directors of the National Futures Association, and a member of the board of the Demand Exchange, Inc., based in Atlanta. He previously served on the board of the Enersoft Corporation.

Mr. Wolkoff is also a member of the technology advisory committee of the Commodity Futures Trading Commission, and the Commission's committee on fair, equal and open access to electronic markets. He previously served as a member of the Futures Industry Association advisory committee on best financial practices, and the National Futures Association advisory committee on best trading practices.

Mr. Wolkoff received his bachelor of arts from the College of Columbia University in 1977 and his law degree from Boston University School of Law in 1980. He is a member of the Bar of the State of New York and the United States District Court, Southern District of New York.