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OCC Announces New Chief Information Officer

CHICAGO, June 2, 2004 - The Options Clearing Corporation (OCC) announced today that John W. Von Stein recently joined the company as Executive Vice President and Chief Information Officer (CIO). Von Stein was previously Vice President of Information Technology (IT) at Cargill Inc. (Cargill).

In his role as CIO, Von Stein will report to Michael E. Cahill, OCC President and Chief Operating Officer, and will be responsible for all OCC Technology Services.

"We're looking forward to working with John, whose vast information technology experience and insight is a great addition to OCC," said Cahill.

John W. Von Stein, Executive Vice President and Chief Information Officer (CIO)

Von Stein is a 20-year operations and information technology professional. For the past 10 years, he worked at Cargill and held the following positions: VP of IT for Cargill's Latin America Region, Global IT Leader for the Grain and Oilseed Supply Chain Platform, Divisional CIO of Cargill Investor Services, and Global Information Technology Manager of Cargill Energy Trading. Prior to joining Cargill, Von Stein worked for Louis Dreyfus Energy Corp., Deloitte & Touche Consulting, and IBM.

Von Stein has a B.S. from Quinnipiac University and a M.B.A. from University of Bridgeport.

"I look forward to utilizing my IT knowledge and experience at OCC to help further leverage the technology and business value OCC brings to its exchanges and clearing members," said Von Stein. "OCC has earned a reputation for being at the forefront of clearing technology; I'm proud to be a part of that and look forward to the new challenges and opportunities I will face."

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 provides clearing and settlement services for the American Stock Exchange, the Boston Options Exchange, Chicago Board Options Exchange, CBOE Futures Exchange, International Securities Exchange, NQLX, One Chicago, Pacific Exchange, Philadelphia Board of Trade and the Philadelphia Stock Exchange. More information about OCC is available through its Web site at www.optionsclearing.com.