Launch Of MEFF Stock Futures January 11.

MEFF announces that as of tomorrow, January 11, five new STOCK FUTURES contracts will be available for trading and clearing on BBVA, BSCH, Endesa, Repsol YPF and Telefónica.

To ensure liquidity, the following firms will compete on continuous firm bid/offer prices within a maximum spread generated by autoquote systems: Ahorro Corporación Financiera SVB, Banco Inversión, Banesto Bolsa SVB, Bankinter, BBVA, Benito & Monjardín SVB, BSCH Bolsa SVB, Caja Madrid and Timber Hill.

Full contract specifications and vendor codes are available on http://www.meff.com/ing/publicfai.htm ; the main specifications are:

• 100 stocks per contract, except for Telefónica that will have 102 stocks per contract
• quarterly expirations, the same as for equity options
• settlement by delivery of the underlying stocks
• daily mark-to-market

If you need more information, you may contact Igancio Solloa (isolloa@meff.com) or Manuel Andrade (andrade@meff.com) on 34 - 91 - 585 08 00. MEFF Stock Futures Contracts May Only Be Offered To Investors With No Regulatory Restrictions.