BM&F Chooses Rothschild Group To Act As Its Advisor On Demutualization

The Brazilian Mercantile & Futures Exchange (BM&F) announced today, August 23, 2006, that it has chosen the Rothschild Group as its advisor in studying BM&F’s possible demutualization and initial public offering, pending approval of the Brazilian regulatory agencies. BM&F is ranked among the top futures exchanges in the world. BM&F is a private not-for-profit association that manages three Clearinghouses—Derivatives, Securities and Foreign Exchange—and a Settlement Bank. Further information about BM&F can be obtained in English, Spanish and Chinese at www.bmf.com.br. Further information about the Rothschild Group can be obtained at www.rothschild.com.