PHLX Nominates Mayor Edward G. Rendell, John L. Cantwell, Jr., And Thomas W. Wynn To Serve On Its Board

The Philadelphia Stock Exchange (PHLX) announced today that it has nominated Edward G. Rendell, Mayor of Philadelphia, to serve on its Board of Governors. His term will begin when his duties as Mayor of Philadelphia conclude in January, 2000. In addition, the PHLX also nominated John ("Jack") L. Cantwell, Jr., Senior Vice President and Manager of George Weiss & Co. LLC., and Thomas W. Wynn, President of Wynncroft, Inc., to serve as on-floor equity governors. "I am looking forward to serving on the Board of such a prestigious institution as the Philadelphia Stock Exchange, the nation's first stock exchange," said Edward G. Rendell, Mayor of Philadelphia. "As Mayor, I recognize the important role the Philadelphia Stock Exchange plays in this city and region as well as the nation's financial markets. When I return to the private sector, one of my primary goals will be to play a role in solidifying PHLX's future in Philadelphia." "I am extremely pleased at the nomination of three such well-respected individuals to PHLX's Board of Governors," said Meyer S. Frucher, PHLX Chairman and CEO. "Mayor Rendell brings with him invaluable years of experience serving the public interest and is very well known and respected nationally. In addition, both Jack and Tom have many years of experience on PHLX's trading floors as well as previously serving on the Board. Their input will help guide the Exchange into the next millennium," said Frucher. The PHLX also announced today that it has nominated John F. Wallace, President of Wallace Securities Corp., to serve as Chairman of the Options Committee, Kevin J. Kennedy, Head Specialist, Oppenheimer, Noonan, Weiss, L.P., to serve as Chairman of the Admissions and Currency Options Committees, and Thomas W. Wynn to serve as Chairman of the Floor Procedures Committee. PHLX Board of Governors is comprised of 11 public and non-industry governors, 10 industry governors, and one Chairman. PHLX is the nation's first securities exchange and is a market leader in the trading of over 2600 equities, 920 equity options, 12 sector index options, and 100 currency pairs.