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OCC Announces New Daily Options and Weekly Volume Records

Volume Exceeds 8 Million Contracts

CHICAGO, January 20, 2004 - The Options Clearing Corporation (OCC) reported today that cleared total options volume from Jan. 16 of 8,604,407 contracts shattered the previous record of 6,939,505 contracts set on Jan. 15.

Equity options volume also reached a new record with 8,065,793 cleared contracts, surpassing the previous record of 6,279,101 contracts set on Jan. 15.

During the week of Jan. 12 - Jan. 16 a new weekly record was set for total options volume of 32,927,566 contracts. This surpasses the previous record set during the week of Jan. 5-9 with 29,814,477 contracts.

Year-to-date average daily options volume at OCC is 6 million contracts compared to 3.6 million contracts in 2003, which was a record trading year for the industry.

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 was 3.6 million contracts and average daily premium settlements were $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.