1. Tel Aviv Stock Exchange Acquisition Presented by: Elizabeth Hershman Chief Financial Officer NASDAQ OMX Group, Inc.

2. About the NASDAQ World’s Largest Exchange Company Over 3,100 Companies Listed $21.4 Billion Shares Traded Institutional Ownership (95%)

3. TASE-NASDAQ Relations 70 Companies Co-listed –Market Cap of $60B –Teva Pharmaceuticals Memorandum of Understanding –November 2007 Barclays Israel iShares –Israel’s Strong Economic Growth

4. TASE Acquisition NASDAQ OMX Nordic Exchange 144 PORTAL Market Tel Aviv Stock Exchange

5. Environmental Scan Political Situation Economic Situation Regulations

6. Environmental Scan GDP GROWTH RATE INFLATION RATE

7. Cost of Acquisition Wholly Owned Subsidiary Book Value of TASE: $209.5M Commission Based on Percentage of Trades $210M

8. Risks Trading Platform Compatibility Cultural Differences Size Difference Public-Private Combination

9. Owner Compensation Owners of TASE  Owners of NASDAQ Ester Levanon on BOD Collaboration Between IT & Trading

10. Future for NASDAQ-TASE Access to Economies of Scale Brand Awareness Entry to New Markets Compete on Global Level

11. Questions?

12. Financials: Turnover Year Shares & Bonds Treasury ConvertiblesBills (2) 1992 59 29 31 1993 123 35 32 1994 104 29 27 1995 37 36 47 1996 33 56 35 1997 59 55 27 1998 62 78 37 1999 86 63 39 2000 115 74 48 2001 64131 50 2002 51159 78 2003 80160 107 2004 147214 140 2005 223298151 2006 326384179 2007 505799206 Change in 2007 55%108%15%

13. Equity Market Indicators Year Daily Turnover Capital Thereof:MarketNumber of Thereof: TA-100 Index (US$ millions)Raised Capital Raised in CapitalizationListedNew Listed% Change (US$ billions) (2) Israel (US$ billions) (1) Companies (1) Companies (3) (US$ terms) 1992 591.92.129.637895 61.9 19931233.13.650.8558186 17.0 19941041.81.932.763882 (30.7) 1995 370.7 36.565419 15.7 1996 330.80.435.96557 (2.4) 1997592.21.946.46591226.8 1998622.1240.966214-12.4 1999 861.51.365.46541362.7 20001153.3 66.8665373.2 2001641.3 57.664914-16.4 2002511.2 42.66249-30.6 2003800.7 70.4577473.9 20041473.61.692.15782521.0 20052233.22.7122.65843221.1 20063269.62.7161.46064422.0 20075055.85.2235.26546237.6

14. TASE Market Indicators

15. NASDAQ Performance

16. NASDAQ Statistics Market Cap: 5.32B Profit Margin: 21.28% Beta 2.26 Cash $1.33B