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Sharehoders Of The Philadelphia Stock Exchange Elect Six To Its Board Of Governors

Date 25/03/2004

The Philadelphia Stock Exchange (PHLX) announced today the election of six people to its Board of Governors.

Christopher Carter and Daniel O'Rourke were re-elected off-floor industry governors, each for a term of three years.

Mr. Carter is managing director of Credit Suisse First Boston in the Equity Division based in New York and London. He is the global head of equity options and structured derivatives and is responsible for customer trading and proprietary arbitrage of listed and structured equity derivatives. He currently serves on the PHLX's Business Conduct Committee.

Mr. O'Rourke is managing director of Goldman Sachs & Co. He oversees operations of options order flow routing and execution services of Goldman Sachs & Co. He currently serves as a director of the Stock Clearing Corporation of Philadelphia, Inc., an Exchange subsidiary.

Eleanor Meyers, Esq., Dr. Constantine Papadakis, and former U.S. Senator Larry Pressler, Esq. were re-elected non-industry public governors. William Stallkamp was elected to serve as a non-industry governor for the first time.

Eleanor Meyers is an associate professor of Temple Law School since 1993. Ms. Myers chairs the Business Conduct Committee and serves on the Executive Committee. She is a director of the Stock Clearing Corporation of Philadelphia, Inc. She has served as a public Governor for two previous terms. She was elected for a term of three years.

Constantine Papadakis is president of Drexel University. Dr. Papadakis chairs the Automation and Compensation Committees of the Board of Governors and also serves on the Audit, Executive and Finance Committees. He currently is a director of the Stock Clearing Corporation of Philadelphia, Inc., as well as the Philadelphia Board of Trade, Inc., both Exchange subsidiaries. He has served as a public Governor for two previous terms. He was elected for a term of three years.

Larry Pressler, Esq. spent 22 years in the U.S. Congress. He has pursued a career largely centered on telecommunications law practice. He currently serves on the Exchange's Business Conduct Committee. He was elected for a term of three years.

William Stallkamp is managing director of Penn Hudson Financial Group, Inc., a financial consulting firm specializing in providing restructuring services to public and privately held businesses. He was elected to serve for a one-year term.

The Philadelphia Stock Exchange was founded in 1790. The PHLX trades 2,000 stocks, 1,200 equity options, 15 sectors index options and currency options and futures. For more information about the PHLX and its products, visit www.phlx.com.