Euronext.Liffe To Extend Use Of Dadd Dividend Forecasts In Its Equity Options Valuation Systems Across Europe

London, 15 November 2004 - Euronext.liffe today announced a new agreement with DaDD, the Dividends and Derivatives Directory. Euronext.liffe will extend its use of DaDD's consensus market dividend forecasts in Autoquote, the Exchange's indicative option pricing model, for all Individual Equity Options traded in Amsterdam, Brussels, London and Paris.

Euronext.liffe and DaDD first began working together in April 2003 when they signed an agreement which saw Euronext.liffe use DaDD dividends forecasts as an input into calculating indicative option prices and daily settlement prices for LIFFE in London.

Jonathan Seymour, U.K. head of equities at Euronext.liffe said, "The use of DaDD dividend forecasts in the Euronext.liffe equity option pricing model will further enhance the accuracy and integrity of the indicative bids and offers generated by Autoquote. We are delighted to be extending the service to all our individual equity option products."

John Price, Managing Director of DaDD, said, "DaDD is delighted to have been asked by Euronext.liffe to extend its provision of dividend forecasts for use in all its equity option contracts. DaDD provides the market standard in dividend forecasting which is used by many major international investment banks, traders and fund managers. Accurate dividends and ex dividend dates are a key component of derivatives calculations, the lack of which can result in significant mis-pricing. We welcome the opportunity of expanding our working relationship with Euronext.liffe and its customers and hope that they find this enhancement helpful to them."

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Notes to Editors

Euronext.liffe is the international derivatives business of Euronext, comprising the Amsterdam, Brussels, LIFFE, Lisbon and Paris derivatives markets. Business worth over 1,000 billion euro is traded through Euronext.liffe every day, making it the world's second largest derivatives exchange, by value of transacted business. Euronext.liffe is creating a single market for derivatives, by bringing all its derivatives products together on a single electronic trading platform, LIFFE CONNECT.

Dividend Directory (DaDD) sets the market standard for dividend forecasting, providing forecasts of the individual dividends and ex-dividend dates up to four years ahead on the top 4,000 to 5,000 largest cap equities worldwide. It is used by a substantial number of the major investment banks, equity options traders, asset managers and hedge funds. DaDD also provides The Index Management Service (TIMS) which consolidates and validates virtually any commercially available index or ETF and provides information through a single feed to investment banks and asset managers. DaDD is the only single source of index constituent information, dividend forecasts and tax data. Users benefit from taking all this critical information from a single, quality provider.

DaDD is a wholly owned subsidiary of Mark-it Partners, a company founded early in 2001 with the support of contributing data partners ABN AMRO, Bank of America, Citigroup, CSFB, Deutsche Bank, Dresdner Kleinwort Wasserstein, Goldman Sachs, JP Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, TD Securities, and UBS.

Mark-it Partners currently receives daily loan pricing on nearly 4,000 loans, daily pricing on credit default swaps (CDS) pricing on over 4,000 issues, and pricing on over 27,000 cash securities. Mark-it Partners is also the definitive source valuation data for OTC derivatives for equity, interest rate, foreign exchange, commodity and credit markets, as well as dividend forecasts for all majors stocks worldwide and definitive index data. Partner banks and contributing data providers now total over 40 institutions globally. These institutions feed current and historical credit data into the Mark-it Partners system on a daily basis, facilitating better decision-making and credit risk management within banks' credit operations.