ISE's MidPoint Match(TM) Platform Opens for Trading; Provides Investors with Continuous Price Improvement

The International Securities Exchange (NYSE: ISE)
announced that trading will begin today on its MidPoint Match(TM)
platform, the first product to debut on the ISE Stock Exchange, LLC.
The start of trading marks ISE's entry into the equities market and
leverages ISE's core strengths of technology and customer service to
deliver an innovative equity execution alternative to investors. All
approved users of the ISE Stock Exchange will have access to the
MidPoint Match platform.
   David Krell, ISE's President and Chief Executive Officer, said
"The unique design of MidPoint Match fills a need in the marketplace
for continuous price improvement, and we are confident that investors
will benefit not only from the trading flexibility offered by MidPoint
Match but also from the advantages delivered by its exchange-based
structure. Today truly marks a milestone for ISE as we launch trading
in a new asset class for members of our exchange on the MidPoint Match
platform."
   MidPoint Match is a continuous, instantaneous, fully-automated and
anonymous platform that executes orders at the midpoint price of the
National Best Bid and Offer (NBBO) throughout the trading day. This
unique, patent-pending trading platform will match and execute all
round lot orders, large and small, and is especially suited for orders
generated by algorithms. MidPoint Match will be followed by an
integrated displayed market offering in the fourth quarter, subject to
regulatory approval.
   Initial trading will be in the following ten stocks with
additional names to be added regularly: Cisco Systems Inc. (CSCO);
Ford Motor Co. (F); JDS Uniphase Corp. (JDSU); LSI Logic Corp (LSI);
Lucent Technologies Inc (LU); NASDAQ-100 Trust (QQQQ); Qwest
Communications International Inc. (Q); RF Micro Devices Inc. (RFMD);
Sun Microsystems Inc. (SUNW); and Semiconductor HOLDRs Trust (SMH).

   ISE Background

   The International Securities Exchange, LLC (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 September 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.

   International Securities Exchange, LLC is a wholly-owned
subsidiary of International Securities Exchange Holdings, Inc.

   Forward Looking Statements

   Certain matters discussed in this press release are "forward
looking statements" intended to qualify for the safe harbor from
liability established by the Private Securities Litigation Reform Act
of 1995. 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 annual report on Form 10-K, current reports on Form 8-K
and quarterly reports on Form 10-Q, as amended.