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The Options Clearing Corporation Board of Directors Announces New Member and Vice Chairman

CHICAGO, April 26, 2006 - The Options Clearing Corporation (OCC) announced today the election of William D. Felder IV to the OCC Board of Directors. Dr. Richard R. Lindsey was elected to the role of Vice Chairman to succeed outgoing director Dennis W. Zank, President, Raymond James & Associates, Inc.

Mr. Felder is President of SWS Group, Inc., as well as President and Chief Executive Officer and a member of the Board of Directors of the company's principal subsidiary, Southwest Securities, Inc.

"We are pleased that William will be joining OCC's Board of Directors. His industry background and knowledge will further strengthen our Board," said Wayne Luthringshausen, OCC Chairman and Chief Executive Officer.

An OCC Board member since 2001, Dr. Lindsey is President of Bear, Stearns Securities Corporation and a member of the Management Committee of The Bear Stearns Companies Incorporated. In addition, Dr. Lindsey is a Senior Managing Director of Bear, Stearns & Co. Inc Prior to joining Bear Stearns, Dr. Lindsey was Director of the Division of Market Regulation of the U.S. Securities and Exchange Commission.

"Richard Lindsey has been a respected member of our Board for the past five years," said Luthringshausen. "We look forward to his serving as Vice Chairman where his expertise will continue to provide a valued perspective."

About OCC

OCC, founded in 1973, is the world's largest derivatives clearing organization and was the first clearinghouse to receive a 'AAA' credit rating from Standard & Poor's Corporation. 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, NYSE Arca, OneChicago, and the Philadelphia Stock Exchange. More information about OCC is available through its Web site at