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Steinhause Elected Vice Chairman Nymex - Five Others To Board Positions

Date 23/03/2000

The members of the New York Mercantile Exchange has elected Mitchell Steinhause as vice chairman and the following Exchange members to other positions on the Exchange board of directors: Richard Saitta, Neil Citrone, David Greenberg, Jesse Harte, and Scott Hess.

Mr. Steinhause was first elected to the board in 1992 and has been a member of the executive committee for the past six years, including a three-year stint as Exchange secretary. He is a 25-year member of the Exchange who has worked as a floor broker for 15 years and traded for his own account for the last 10 years. He represented the Exchange as a member of the negotiating team for the NYMEX/COMEX merger, and, as chairman of the facilities committee, served on the seven-member project management team that oversaw the construction and occupation of the Exchange's state-of-the-art headquarters. He received his bachelor of arts degree from the University of Pittsburgh and holds a masters of business administration in accounting from St. John's University.

Mr. Saitta, co-founder of Star Futures Corp., which he continues to head up, was re-elected as the floor broker representative, a position he has held on the board since 1983. He currently serves as chairman of the arbitration, by-laws, compliance review, and floor broker advisory committees, and is also a member of the facilities, floor, and control committees.

Mr. Citrone, who ran unopposed for his second term as a futures commission merchant representative, is the vice president of Pioneer Futures Inc. and has been a member of the Exchange executive committee for the last year, serving as the secretary.

Mr. Greenberg, elected as the local (individual trading for his or her own account) representative to his first term on the board, is a conferring member on both divisions of the New York Mercantile Exchange and the New York Board of Trade. In addition to trading for his own account for the past 14 years, he is also the president of Sterling Commodities Corp.

Mr. Harte, also elected to his first term on the board, in the trade category, is an employee of Duke Energy and the former owner of Bay Area Petroleum. A 17-year member of the Exchange, he also held a position as a senior vice president of Daiwa Securities. He is a graduate of the University of Maine with a bachelor of science in resource economics.

Mr. Hess, a partner in G&H Commodities, was re-elected to his second term on the board as the at-large representative. He holds a business degree from Montclair State University and a masters of business administration in marketing from Pace University. He is chairman of the platinum advisory and appeals committees; co-chairman of the training & education, eastern and western electricity advisory, government relations, and coal advisory, vice chairman of the marketing committee and the member benefit subcommittee; and an active member of the facilities, compliance review, floor, and NYMEX Charitable Foundation committees.