Message-ID: <23359897.1075861048048.JavaMail.evans@thyme> Date: Thu, 21 Mar 2002 08:02:35 -0800 (PST) From: marketing@nymex.com To: marketing@nymex.com Subject: (02-84) NYBOT Decision to concentrate relocation efforts on One N orth End Avenue Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Exchange Information @ENRON X-To: Exchange Information X-cc: X-bcc: X-Folder: \Sara_Shackleton_Mar2002\Shackleton, Sara\Deleted Items X-Origin: Shackleton-S X-FileName: sshackl (Non-Privileged).pst Notice No. 02-84 March 21, 2002 TO: All Exchange Members FROM: Vincent Viola, Chairman J. Robert Collins, Jr., President RE: NYBOT Decision to concentrate relocation efforts on One North End Avenue The New York Board of Trade has notified its members that last night its board voted unanimously to drop its pursuit of all other relocation alternatives and to concentrate all its efforts on coming to a final lease agreement with our exchange on becoming a tenant at One North End Avenue. According to the letter, the main issue that still must be addressed is NYBOT's ability to obtain a firm commitment for sufficient government aid to fund the installation of needed technology on the COMEX Division floor. They believe that solidifying the aid, and drafting the formal lease, could take one to three months. Their preliminary target for completion of the necessary work and NYBOT's commencing trading on the COMEX Division floor is the first quarter of 2003. The main terms are for NYBOT to use 13,000 to13,500 square feet of the COMEX Division trading floor and to lease about 35,000 square feet of office space in the building. The basic lease is for 10 years, with the potential for one, and possibly two, five-year extensions. We welcome this decision by the board of the New York Board of Trade and applaud their commitment to preserving the role of Lower Manhattan as the financial capital of the world. We believe this move will be beneficial to the members and member firms of both institutions from the standpoint of creating both efficiencies and additional opportunities.