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Options Industry Sets New Total Volume Record

CHICAGO, November 17, 2003 - The Options Clearing Corporation (OCC) announced today a new annual record for total options volume. The record was reached on Nov. 14 when year-to-date total options volume hit 781,821,162 contracts. This surpasses 2001's annual record of 781,261,935 total options contracts.

"Reaching an all-time high in total options volume is an exciting and important milestone for the entire options industry. These volume numbers support the continued growth and versatility of the options product," said Wayne P. Luthringshausen, OCC Chairman and CEO.

Year to date total average daily volume is 3.5 million contracts vs. 3.15 million contracts for the annual average daily volume in 2001.

About OCC

OCC, founded in 1973, is the largest clearing organization in the world for options and was the first clearing house to receive a 'AAA' credit rating from Standard & Poor's Corporation. In 2003, OCC's average daily options volume is 3.5 million contracts and average daily premium settlements are $1.1 billion. Operating under the jurisdiction of the Securities and Exchange Commission and the Commodity Futures Trading Commission, OCC is jointly owned by the American Stock Exchange, Chicago Board Options Exchange, International Securities Exchange, Pacific Exchange and Philadelphia Stock Exchange. More information about OCC is available through its Web site at www.optionsclearing.com.