ISE Launches New FTSE 250 Index Options; Innovative `Mini' Structure Simplifies Trading

The International Securities Exchange (NYSE: ISE)
announced today that on May 23, 2006, it launched index options
trading on the FTSE 250 (Ticker: FTZ) through an innovative "Mini"
contract structure whereby the Mini FTSE 250 Index represents 1/10th
of the full value of the full-size FTSE 250 Index. The FTSE 250 Index
is a capitalization-weighted index of the most highly capitalized
companies listed on the London Stock Exchange outside the FTSE 100.
Constituents are selected quarterly as the 101st to 350th largest
companies listed on the exchange. This product was developed with FTSE
Group, the award-winning index provider. Timber Hill LLC serves as the
Primary Market Maker.
   This is the first time that FTSE 250 options have traded
electronically in the U.S., and follows on ISE's introduction on May
5, 2006 of the "Mini" contracts on the FTSE 100 index. These will be
cash-settled index options.
   "ISE is delighted to introduce the new electronically traded
"Mini" index options on the FTSE 250," said Bruce D. Goldberg, ISE's
Chief Marketing Officer. "With the increased demand for global
diversification and risk management trading strategies by both retail
and institutional investors alike, we believe this product provides an
innovative investment and trading strategy that is both affordable and
easy to use."
   Mark Makepeace, Chief Executive of FTSE Group, commented, "In
addition to the recently launched FTSE 100 Mini-contracts, U.S.
investors now have another domestic opportunity to invest in the FTSE
250, the definitive mid-cap measure of the UK market."
   Additional information about this product, including methodology
guides, component lists and weightings, performance metrics and
historical data is available on ISE's website, www.iseoptions.com, on
the Products Traded / Index Options page.

   ISE Background

   The International Securities Exchange (ISE) is an innovative
securities market, founded on the principle that technology and
competition create better, more efficient markets for investors. ISE
is the largest equity options exchange and is among the leading
options exchanges in the world. ISE developed a unique market
structure for advanced screen-based trading systems and in May 2000
launched the first fully electronic US options exchange. The ISE Stock
Exchange LLC will launch in the third quarter of 2006 with strategic
partners, offering an innovative MidPoint Match platform, followed by
a fully integrated displayed Best Bid Offer (BBO) market in the fourth
quarter. ISE is also a majority owner of Longitude LLC, an innovative
platform for events markets trading, and offers enhanced market data
products for sophisticated investors.
   ISE continually enhances its trading systems and develops new
products, including index options and market data, to provide
investors with the best marketplace and investment tools to trade
smarter. For more information about ISE, its options products and its
technology, visit www.iseoptions.com and for more information about
the ISE Stock Exchange LLC, visit www.isestock.com.