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Philadelphia Stock Exchange Announces Volume Increases In All Trading Products For May - Equity Option Market Share Jumps 10% From Last Month; Equity Trading Volume For May Breaks All-time PHLX Record

Date 05/06/2003

The Philadelphia Stock Exchange announced today that equity volume in May broke all-time trading records. Trading volume soared 114% when 325,292,713 shares traded as compared to the same year-ago period when 151,818,975 shares traded. Equity volume also increased 14.29 % compared to the previous month when 284,620,449 shares traded. For the first five months of 2003, equity volume increased 70.88% compared to the same period in 2002.

Equity options trading volume for the month of May reached 8,569,550 contracts, up 35.34% compared to the same month last year when 6,331,724 contracts traded. Equity option trading volume increased 17.32% compared to the previous month when 7,304,161 contracts traded. PHLX equity options market share was 12.51% in May, up 10% from the previous month. Sectors index options trading volume in May increased 10.60% when 201,566 contracts traded compared to the previous month when 182,254 contracts traded. Sector index option volume declined 51.03% when compared to the same month last year when 411,604 contracts traded. PHLX currently lists options on 12 sectors: PHLX/KBW Bank Sector (BKXSM); PHLX Computer Box Maker SectorSM (BMXSM); PHLX Drug SectorSM (RXSSM); PHLX Gold/Silver SectorSM (XAUSM); PHLX Oil Service SectorSM (OSXSM); PHLX OTC Prime SectorSM (OTXSM); PHLX Defense SectorSM (DFXSM); TheStreet.com Internet Sector (DOTSM); PHLX Semiconductor SectorSM (SOXSM); PHLX Utility SectorSM (UTYSM); PHLX Housing SectorSM (HGX) and the SIG Investment Managers Index™ (SMQSM).

Trading volume in May in the customized and standardized currency options totaled 21,207 contracts, a 15.87% increase from the previous month when 18,303 contracts traded, and a 49.41% decrease from the same month last year when 41,919 contracts traded. The Philadelphia Stock Exchange (PHLX) was founded in 1790. The PHLX trades more than 2,200 stocks, 1,016 listed equity options, 12 sectors index options and currency pairs. For more information about the PHLX and its products, visit www.phlx.com. ###