Ellen Neely Named President of the Chicago Stock Exchange

Chicago, June 27, 2005 – The Chicago Stock Exchange Inc., announced today the promotion of Ellen Neely to President and General Counsel of the Exchange. Ms. Neely had served six years as the Exchange’s General Counsel, most recently playing a lead role in implementing the demutualization of the Exchange. As President, Ms. Neely will be charged with overseeing the implementation of the Exchange’s new trading model that was approved by the Board of Governors on June 17, 2005. That model will incorporate the best of exchange and ECN functionality to offer the price discovery and efficiency crucial to today’s investors and insure that the CHX remain a vibrant force within the National Market System.

On Ms. Neely’s promotion, Dave Herron, CHX CEO, said, "Ellen has long been a key player in the Exchange’s management team, guiding CHX through complex legal issues with the SEC and ensuring that CHX maintains a high level of market integrity for investors. Her invaluable service and knowledge of the Exchange makes her the perfect choice to fill this role."

Chicago Stock Exchange, Chairman, Valerie Jarrett said, "Ellen’s depth of industry knowledge is extraordinary. Equally impressive, she has a keen ability to foster change and clearly communicate complex issues to shareholders."

Russell Saletta, Chicago Stock Exchange Vice Chairman, said, "As we continue to evolve the Exchange in an extremely competitive market, it’s vital that we have leaders with Ellen’s forethought and experience."

The Chicago Stock Exchange was founded May 15, 1882. The CHX is a strong force for competition to all U.S. markets. The CHX trades more than 3,500 NYSE, AMEX, NASDAQ and CHX-exclusive issues.

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