NYMEX Continues Force Majeure Declaration

The New York Mercantile Exchange, Inc., announced today that its prior declaration of force majeure relating to all remaining delivery obligations in the September 2005 NYMEX Division natural gas futures contract will continue. On Friday, the Exchange made a finding of force majeure for the September natural gas futures contract effective as of the September 22 declaration by the Sabine Pipeline in Louisiana.

Accordingly, any further action by the Exchange will be undertaken pursuant to its authority as set forth in NYMEX rule 220.18, in particular rule 220.18 section (C)(6).

The Exchange had been advised that Sabine Pipeline, which operates the Henry Hub facility, had implemented a pipeline shutdown on Thursday and also had issued a force majeure declaration at 1:00 PM Central time the same day.

All parties have available now, as always, the ability to mutually agree to execute an alternative delivery procedure pursuant to NYMEX rule 220.17(A) for the September 2005 delivery obligations.

Furthermore, if necessary the Exchange will consider any appropriate decisions and actions pursuant to the rules regarding any upcoming obligations in the October 2005 natural gas futures contract as conditions at the Henry Hub are evaluated.

The Exchange continues to monitor the situation and will update accordingly.