RONALD H. FILLER JOINS THE CLEARING CORPORATION BOARD OF DIRECTORS

Chicago, August 29, 2005 – The Clearing Corporation ("CCorp") announced today that Ronald H. Filler, Managing Director and Director of Institutional Futures Administration with Lehman Brothers, Inc. has been appointed to its Board of Directors.

Mr. Filler has a distinguished career in the financial services industry. Prior to joining Lehman Brothers, Inc. in 1993, Mr. Filler was with Vedder, Price, Kaufman and Kammholz for eight years where he served as a partner and Member of the Executive Committee. He was a managing partner with Filler Weiner Zaner & Associates from 1980 – 1985, and from 1977 – 1980, was Director of Managed Futures and Associate General Counsel with ContiCommodity Services, Inc, both futures commission merchants. He began his career as an attorney with the Securities and Exchange Commission in 1973.

Among his numerous industry leadership roles, Mr. Filler serves as a member of the Global Markets Advisory Committee of the Commodity Futures Trading Commission. He has been affiliated with the Futures Industry Association in many capacities including past President, Secretary and Member of the Executive Committee of the FIA's Law and Compliance Division and Member of the FIA's Risk Management Committee. In addition to serving on the Board of Directors of the FIA, he has also served on the boards of the National Futures Association and the MidAmerica Commodity Exchange. He has been affiliated with Chicago Kent College of Law since 1977 where he founded the Commodities Law Institute and continues to serve as Member of the Board of Overseers. Mr. Filler has authored numerous articles on pertinent topics related to the
futures and securities industries.

Michael Dawley, Chairman of CCorp's Board of Directors, said: "Ron Filler is a leading industry expert and will be a tremendous asset to The Clearing Corporation's Board. We are delighted to have him serve and look forward to his contributions."

Mr. Filler holds a Bachelor of Arts degree from University of Illinois Champaign-Urbana, a Juris Doctor (with honors) from George Washington University Law School and an LL.M. in Taxation from Georgetown University Law School.

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