ISE to Deliver Options Depth of Market Data

The International Securities Exchange (NYSE: ISE)
announced today its intention to provide access to depth of market
data to provide transparency for investors beyond the Best Bid Offer
(BBO). This will be available in the second quarter of 2006.
   ISE plans a flexible data platform configured with three price
levels of depth to provide investors with a consolidated view of
tradable prices and liquidity beyond the top of the book. The depth
data will be aggregated prior to distribution which will reduce the
bandwidth requirements. The ISE will use the new optimized FIX FAST
(Financial Information eXchange Adapted for Streaming) market data
protocol, rather than introduce a proprietary API which will minimize
developers' learning curve and reduce integration time. Pricing for
this offering is subject to SEC approval.
   ISE's new depth of market data will be distributed over the Secure
Financial Transaction Infrastructure network (SFTI) as a separate
offering from the existing Options Pricing Reporting Authority (OPRA)
feed. Clients can reduce costs and implementation efforts by
leveraging their existing SFTI connectivity. This direct connection
will also minimize the latency associated with traditional
distribution alternatives.
   This data offering reinforces ISE's leadership position in
introducing new innovations to help improve trading efficiency. ISE is
the world's largest equity options exchange, with the deepest and most
liquid quoted markets for the options it trades.

   ISE Background

   The International Securities Exchange, the world's largest equity
options exchange, was founded on the principle that technology fosters
and infuses new efficiencies and operational innovations into
securities trading. After developing an innovative market structure
that integrated auction market principles into an advanced
screen-based trading system, ISE launched the first fully electronic
US options exchange in May 2000. ISE continually enhances its trading
systems to provide investors with the best marketplace to execute
their options orders.
   For more information about ISE, its products and its technology,
visit www.iseoptions.com.

   ISEE and ISE Sentiment Index are registered trademarks of
International Securities Exchange, Inc.

   Forward Looking Statements

   This press release contains "forward looking statements." These
statements relate to future events or our future financial
performance, and involve known and unknown risks, uncertainties and
other factors that may cause our actual results, levels of activity,
performance or achievements, to be materially different from those
contemplated by the forward looking statements. We undertake no
ongoing obligation, other than that imposed by law, to update these
statements. Factors that could affect our results, levels of activity,
performance or achievements and cause them to materially differ from
those contained in the forward looking statements can be found in our
filings with the Securities and Exchange Commission, including our
registration statement on Form S-1, current reports on Form 8-K and
quarterly reports on Form 10-Q, as amended.