Description of Index: The NYSE Composite Index is composed of all the 2300+ common stocks listed on the New York Stock Exchange. The index is designed to measure the changes in aggregate market value of NYSE common stocks.

Index Weighting: The Index is capitalization weighted, thereby giving more weight to larger companies with greater market value. The market value of each stock is obtained by multiplying its current price by the number of shares listed. The aggregate market value, the sum of the individual market values, is then expressed in relation to the base period market value, which has been adjusted for capitalization changes over time. The base value was set at 50 on December 31, 1965.

Option Symbol: NYA

Contract Value: $1 00 times The Index value.

Expiration Cycle: Three consecutive near-term + two months from the March quarterly cycle.

Expiration Date: The Saturday after the third Friday of the expiration month.

Last Trade Date: Two business days prior to the expiration date

Exercise-style: European-style.

Settlement Value : The Special Expiration Index ("SEI") as reported on the day prior to the expiration date (SEI value is reported as NYX). The SEI, while calculated in the same manner as NYA, uses the opening prices of each stock to calculate one SEI value.

Delivery If Exercised: Option is cash settled based on the dollar difference between the index settlement value and exercise price.

Strike Price Intervals: Strike (exercise) prices are set at 2 1/2 and 5 point intervals as needed.

Premium Value: 1 premium point = $1 00, with premiums quoted in fractions of a dollar.

Position Limit: 45,000 contracts, of which no more than 25,000 may be in the near- month.

Minimum Margin: The dollar amount of the current option premium plus 15% of the market value of the underlying index ( X $100) less any out-of-the- money amount. Minimum margin is the premium plus 1 0% of the market value of the underlying index (X $100).

Trading Hours: 9:30 a.m. - 4:15 p.m., New York time.

Trading System: Specialist System and Competitive Option Traders.