CLEARING CORPORATION ANNOUNCES PROMOTIONS

Chicago, May 10, 2005 - The Clearing Corporation ("CCorp") is pleased to announce promotions for the following staff members: Thomas Andrews, to Vice President, Client Services and Support; Donn ("Chip") Chong to Vice President, Risk Management; Richard Jerge to Vice President, Information Technology Infrastructure Management; David Scheinberg to Vice President, Information Technology Project Management Office; and Theodore Tabloski to Vice President, Information Technology/Engineering.

Mr. Andrews has been with CCorp since 1977 and served as Director, Client Services and Support prior to his promotion. Mr. Chong has been with CCorp since December, 2001 as Director of Risk Strategy; Mr. Jerge has been with CCorp since 1994 and in positions of increasing responsibility. Mr. Scheinberg and Mr. Tabloski, who have been with CCorp since it acquired onExchange, Inc. in August, 2004, work in the CCorp Lexington, MA office.

CCorp President and Chief Operating Officer Brett Paulson said, "Each of these individuals has made notable contributions to CCorp. We look forward to their continued service in expanded roles as we serve more diverse and global marketplaces. We continue to build out The Clearing Corporation's multi-asset class product offerings with business and technology consulting services in addition to the core clearing and settlement solutions."

Over the past year, CCorp has established business relationships with HedgeStreet Inc., the Chicago Futures Exchange (through The Options Clearing Corporation); ChemConnect; and the Chicago Climate Exchange. In December, CCorp announced an integrated securities and derivatives clearing system agreement with the JSE Securities Exchange of South Africa. In addition, last year CCorp launched the first phase of the revolutionary Global Clearing Link with Eurex, the world's largest futures exchange.

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