Osaka Mercantile Exchange New Base Metals To Be Launched

With regard to the selection of the new base metals to be launched: OME plans to launch new futures contracts of base metals in addition to its existing aluminium futures contract. It was in March 2000 that Kansai Bureau of International Trade and Industry made a proposal, in its report, for establishing the markets for metals including copper, lead, zinc and nickel in Kansai, Japan. Upon the receipt of this proposal, OME established "Conference for Establishing Metal Markets" consisting of well-informed members, such as people with academic background, related commercials, futures commission merchants, journalists, etc. in April 2000. Although OME intends to launch all commodities in stages, the purpose of the Conference was to select the next metals to be launched in the short term.

With regard to the selection of the base metals to be launched at OME, Mr. Masaaki Takeuchi, chairman of Conference for Establishing Metal Market, stated the conclusion of a eries of the meetings held by the Conference as follows:

"The extensive and enthusiastic discussions were made among the members of the Conference. Taking matters such as the size of the markets, the fluctuation in the prices, the recognition by the public, the outlook of the supply and demand and extensiveness of the related industries into consideration, we have reached the agreement that copper and nickel should be selected for the launch as the metals next to the existing aluminium. Therefore, as the conclusion of the Conference, we would like to state that OME should aunch copper and nickel swiftly in order to establish the metal markets as well as its aluminium.

As for nickel, the preparation for the launch should be commenced immediately. As for copper, the appropriate environment both inside and surrounding the Exchange shall be put in good order and the launch should be achieved as soon as possible." OME agree and appreciate this conclusion of the Conference and intend to establish the fair, ransparent and effective base metal futures markets starting with nickel and copper in Kansai area, Japan.