NASDAQ Becomes Operational As A National Securities Exchange

The Nasdaq Stock Market, Inc. (NASDAQ: NDAQ) has become operational as an exchange in NASDAQ-listed securities, effective today.

As a result, NASDAQ® is now operating as an independent self-regulatory organization, separate from NASD. NASDAQ plans to become operational as an exchange in other exchange -listed securities on October 1, 2006.

In connection with NASDAQ's transition to a national securities exchange, the securities of companies that were listed on NASDAQ and registered under the Securities Exchange Act of 1934 or the Investment Company Act of 1940 have become registered under Section 12(b) of the Exchange Act. The SEC has granted those companies that were exempt from registration under the Exchange Act a temporary three-year continuation of the exemption, until August 1, 2009, to allow these companies to become registered under Section 12(b).

For more information about NASDAQ's Exchange Registration, visit

http://www.nasdaqtrader.com/trader/er/eroverview.stm .

NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit http://www.nasdaqfacts.com or the NASDAQ Newsroom at http://www.nasdaq.com/newsroom/ .

Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about the NASDAQ system integration and its benefits. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ's control. These factors include, but are not limited to factors detailed in NASDAQ's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.