Chicago, May 19, 2005 - The Clearing Corporation held its Annual Meeting of Stockholders yesterday. The following directors were elected to serve new terms.

Elected to terms expiring in 2008 as Class A directors are:
· Gerald F. Corcoran
· David Johnson

Elected to a one year-term as a Class E director is:
· Rudolf Ferscha

The Board of Directors met following the Stockholder Meeting to elect a new chairman and vice chairmen.

Michael C. Dawley will serve as Chairman of the Board for a one-year term.
Joseph J. Murphy will serve as First Vice-Chairman and James G. McCormick will serve as Second Vice-Chairman, each for a one-year term.

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