Michael G. McErlean to Join Eurex's U.S. Management

Former Goldman Sachs Manager to Help Develop New U.S. Exchange Business

Chicago, IL - April 15, 2003 - Michael G. McErlean (42) will join the Eurex-U.S. management team. McErlean, previously Global Co-Head of Futures Services at Goldman Sachs, will be based in Chicago. With this new hire Eurex, the world's largest derivatives exchange, continues to add further U.S. expertise for the launch of a registered U.S. exchange. The new exchange will offer a full range of derivatives on U.S. interest rates, indexes and equities and be operative in early 2004.

"Michael brings a wealth of experience in developing a leading global futures franchise and will work together very closely with our U.S. business partners as well as regulatory and industry bodies in the U.S.," said Rudolf Ferscha, CEO of Eurex. "He will reinforce and further strengthen our successful team in Chicago."

McErlean, a former board member of the London International Financial Futures
Exchange and the Singapore International Monetary Exchange, has been a Board
Member of Brokertec Clearing Corporation since 2001 and has been Chairman of the Futures Industry Association UK since 2002. He has also served as an Executive Board Member of the Futures and Options Association since 2001 and has served on numerous international industry associations and committees.

McErlean's career at Goldman Sachs has included roles such as Co-Manager of
Exchange Execution Services at the Chicago Board of Trade (1989-1992), Head of
Futures Services Asia (1992-1996), Head of Futures Execution Services Asia and
Europe (1997-2000).

Press Release Contact:
Intermarket Communications
Martin Mosbacher
Tel: 212-888-6115
Walter Allwicher, Uwe Velten
Tel: + 49-69-21 01-1500

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