The MEFF Board Of Directors Has Decided To Integrate The Management Of MEFF Renta Fija And MEFF Renta Variable Under José Massa As Director General

The MEFF Board of Directors held a regular meeting today, at its Barcelona offices, with Josep Manuel Basañez in the chair. Following a proposal by the chairman it was decided to combine the management of the two subsidiary companies, MEFF RENTA FIJA and MEFF RENTA VARIABLE, appointing José Massa (hitherto director general of MEFF RENTA VARIABLE) as director general of both. The Board also accepted the resignation of José Luis Oller, director general of MEFF RENTA FIJA, and thanked him for all his work during his ten years at MEFF, and for his willingness to continue advising MEFF whilst he pursues his other professional activities. In addition, as part of MEFF's on-going response to meet the new challenges brought by the introduction of the euro and increasing market globalisation, the MEFF's Board of Directors agreed: To go-ahead with an electronic link with EUREX - the German-Swiss financial derivatives exchange - that will allow MEFF members to trade on EUREX Bund contracts starting next month. To consider the offer of full integration in the GLOBEX world futures exchange network, currently formed by CME (Chicago), ParisBourse (Paris), SIMEX (Singapore), BM&F (Sao Paulo) and ME (Montreal). This is a natural follow-up to the current agreements between MEFF and two GLOBEX members: the French PARISBOURSE exchange, in the EuroGLOBEX alliance, and the Chicago Mercantile Exchange (CME) with whom MEFF has agreed joint trading and clearing of futures and options on Standard & Poor's EURO and EURO Plus indexes. The Chairman of the Board, Mr. Basañez, concluded with a special message for the members of MEFF, the shareholders, the authorities and, in particular, the employees and partners of all MEFF companies, thanking them for their commitment and work throughout the first ten years of MEFF's life. The Chairman of MEFF stated that "on MEFF's tenth anniversary we look forward to a future that is, of course, different to that of ten years ago, but no less positive". Basañez went on to state that "in the context of the globalisation of financial markets, MEFF has new challenges, new opportunities and new hopes thanks both to the products and experience of the Spanish exchange and to our alliances with other exchanges".