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Otto E. Nägeli To Leave SWX Swiss Exchange

Date 19/12/2000

Otto E. Nägeli, Deputy Chief Executive Officer of Eurex Zurich/Frankfurt and Member of SWX Group Management is to leave the company in the first quarter of 2001 to take up a new challenge in the financial sector. His successor will be announced in due course.

Otto E. Nägeli is one of the pioneers of electronic trading. Between 1987 and 1998, he was Chief Executive Officer of Soffex, the world's first fully electronic derivatives exchange. As a member of the Management Board of SWX Swiss Exchange he was responsible for the Markets division between 1995 and 1997. Since 1998, he has been Deputy CEO of Eurex Zurich/Frankfurt and head of Eurex Clearing. Nägeli played a key role in establishing the EEX energy exchange and has been chairman of the supervisory board of EEX-European Energy Exchange AG, Frankfurt, since the company was founded.

SWX Swiss Exchange very much regrets Otto E. Nägeli's decision and wishes him every success in his new role.