1. Partnership Deal between Eurex and The Clearing Corporation completed Dennis A. Dutterer President and CEO November 5, 2003

2. Partnership Deal between Eurex and The Clearing Corporation completed  Shareholders have approved partnership deal with Eurex and new CCorp equity structure  50 out of 87 shareholders for, 34 against, 2 abstentions  Equity stake oversubscribed in new equity; $105.6 million total equity capital  Shareholders have approved Eurex equity stake in CCorp  48 shareholders hold 86% of CCorp capital  Eurex holds 14% of CCorp capital

3. Partnership Deal between Eurex and The Clearing Corporation completed (cont.)  New governance structure  Nine member Board of Directors  Eurex takes seat on Board of Directors  Other shareholders elect remaining 8 Board members  One share – one vote  New capital structure  Separate Guaranty Fund  Shareholder capital of $ 105.6 million  Shareholders need not be clearing participants  Non-shareholders can become clearing participants, expanding the range of clearing business partners

4. CCorp Shareholder structure  Broad range of all market user groups represented in new shareholder structure, including small firms and individuals

5. Highlights of the Clearing Solution  CCorp to clear for Eurex US  CCorp to offer clearing for Eurex AG in the US  Global Clearing Agreement gives CCorp customers direct access to Eurex’s European products  Eurex customers worldwide can choose Eurex Clearing or CCorp to clear Eurex US products  CCorp retains its independence  Nearly 80 years of experience in clearing and processing derivatives products for a variety of clients

6. Partnership Deal between Eurex and The Clearing Corporation completed Rudolf Ferscha CEO Eurex November 5, 2003

7. Eurex‘s Role as CCorp Shareholder  Eurex has paid in full its $ 15 million contribution and received 14.3 percent in CCorp  Eurex has taken seat on CCorp Board  Due to positive shareholder vote clearing services contract is now unconditional and final  Clearing services contract will run for seven years with automatic three year renewal

8. Eurex Ownership Structure  14.3 percent stake in CCorp is held by U.S. Exchange Holdings, which is held 100 percent by Eurex AG, Zurich  Ownership in Eurex  Deutsche Börse AG – 50 % of equity/85 % of revenue share  Listed in Frankfurt, majority owned (53 percent) by U.S. and UK institutional investors  100 percent free float, more than 36,000 shareholders  Only 2 Shareholders above 5 percent  German banks have sold most of their shares in Deutsche Börse and now own less than 1 percent od Deutsche Börse AG shares  SWX Swiss Exchange – 50 % of equity/15 % of revenue share  owned by 55 financial institutions

9. Leveraging existing infrastructure  Clearing platform currently used by the industry will continue to be available  Eurex US will leverage existing CCorp participant network and infrastructure  Deal between Eurex und CCorp marks an important milestone in establishing Eurex US  Deal forms basis for long term clearing partnership