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IPE Natural Gas Futures Achieve Record Volumes On ICE Patform

Date 13/12/2002

On Thursday 12 December, IPE Natural Gas futures traded the equivalent of 5,270 monthly lots (160 million therms). This record on the ICE platform builds on what has already been a record start to the month with 15,950 lots (480 million therms) trading in the first four days of December. Of particular significance during the day was the spread of volume across the forward curve, the level of spread trades and the execution of half the volume during the morning session.

Jason Pegley, IPE Strategy Development Manager, commented "On the back of record volumes last month, the continuing growth we are witnessing is evidence of the industry's support and need for risk management and trading tools'. He added, 'The exposure which the Nat Gas futures contract is achieving through the extensive coverage of the ICE platform is undoubtedly contributing to the volume increase".

IntercontinentalExchange operates global OTC and futures marketplaces for the trading of energy and metals products. Based in Atlanta, with offices in Chicago, Houston, London, New York and Singapore, IntercontinentalExchange also owns the International Petroleum Exchange of London (IPE), Europe's leading energy futures and options exchange.

The IntercontinentalExchange electronic platform is used by thousands of traders and trading operations professionals every business day to trade more than 600 listed commodity and derivative contract types around the world, including crude oil and refined products, natural gas, power, precious metals, weather derivatives and emissions allowances. Contract forms include physical delivery as well as financially settled swaps, spreads, differentials and options based on a variety of fixed and floating price indices. Intercontinental also supports the broader trading infrastructure with OTC cleared products and credit management, eConfirm, and market data services offered through The 10x Group.

The IPE provides regulated open outcry and electronic marketplaces where industry participants use futures and options to manage their price risk exposure in the physical energy market. Products traded on the IPE include Brent Crude futures and options, Gas Oil futures and options, and Natural Gas futures.

For more information about IntercontinentalExchange, please visit the website at www.theice.com. More information about The 10xGroup is available at www.10xGroup.com. The website for the International Petroleum Exchange can be found at www.ipe.uk.com.