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The Options Clearing Corporation Elects Frank J. Larocca Treasurer

CHICAGO, July 26, 2006 - The Options Clearing Corporation (OCC) announced today that its Board of Directors has elected Frank J. Larocca Treasurer of OCC following his recent promotion to Senior Vice President and Chief Financial Officer.

Mr. Larocca, 53, has more than 30 years of successful leadership in OCC's Accounting department. Previous positions held by Mr. Larocca include First Vice President and Controller, Accounting Manager, Internal Audit Manager and Staff Accountant.

In his roles as Senior Vice President, Chief Financial Officer and Treasurer, Mr. Larocca will maintain management responsibilities for Accounting, Cash Management, Project Office, Human Resources and Office Services. New responsibilities will include supervision of OCC's budget processes, banking relationships and the procurement process. Mr. Larocca will report to Michael E. Cahill, President and Chief Operating Officer of OCC.

Mr. Larocca holds a B.S. degree in Accounting from Southern Illinois University. He is a Certified Public Accountant and is a member of the American Institute of Certified Public Accountants and the Illinois Certified Public Accountant Society. Mr. Larocca resides in Palatine, Ill.

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, OneChicago, NYSE Arca, Philadelphia Stock Exchange and Philadelphia Board of Trade. More information about OCC is available through its Web site at www.optionsclearing.com.