DAX Calculation to End at 5:30 p.m. as of November 3

Evening trading hours on Frankfurt floor an attractive offer for private investors.
Additional market information for trading after 5:30 p.m.

Frankfurt, Germany - October 8, 2003 - In conjunction with the shorter trading hours on the Xetra electronic trading system, Deutsche Börse will calculate its equity indices from 9:00 a.m. to 5:30 p.m. CET as of November 3. The closing level of the equity indices is based on the Xetra closing auction, which begins at 5:30 p.m. CET.

For the period between 5:30 p.m. and the close of floor trading at 8:00 p.m., Deutsche Börse will calculate the additional indices L-DAX, L-MDAX, L-SDAX, L-TecDAX and L-NEMAX 50 every 60 seconds from prices traded on the floor of the Frankfurt Stock Exchange (FWB Frankfurter Wert-papierbörse). These indices (L=late indices) correspond in composition to the respective DAX®, MDAX®, SDAX®, TecDAX® and NEMAX 50® indices and give investors an indication of the market development after Xetra trading ends at 5:30 pm. CET.

These changes in index calculation correspond to the planned changes to trading hours on the pan-European trading platform Xetra. Trading on Xetra will end at 5:30 p.m. instead of 8:00 p.m. CET. With the planned earlier close of trading the Frankfurt stock exchange is taking account the request from many market participants and the large proportion of foreign trading participants on Xetra (over 40 percent of the total), who have called for uniform trading hours Europe-wide within the framework of cross-border trading on a growing scale. The revised trading hours will initially be valid for one year; after the first six months, the decision will be reviewed to determine whether the shorter trading hours should be valid beyond the initially envisaged period.

Press contacts:
Walter Allwicher
Frank Hartmann
Tel: + 49-69-21 01-1500

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