DB1 Deutsche Boerse AG

The Osaka Securities Exchange Co., Ltd. (OSE) and International Securities Exchange Holdings, Inc. (ISE) today announced the termination of their Memorandum of Agreement (MOA) to create a jointly owned equity options trading platform for the Japanese market. Given market developments in Japan, OSE has changed strategic direction to concentrate on strengthening its core business, and as such, elected to terminate the MOA that would have led to the establishment of a new joint venture with ISE. Michio Yoneda, President and CEO of OSE, said, �This adoption of a new strategic direction will allow us to concentrate on growing our core business and further improving our technology platform. We deeply regret the announcement of the termination of the MOA with ISE and offer our sincere appreciation for ISE�s understanding in the matter.� Gary Katz, President and CEO of ISE, said, �Although we are very disappointed that our joint venture with OSE did not come to fruition, we recognize OSE�s corporate priorities have changed, and we respect their decision to end discussions related to our joint project.� About OSE The Osaka Securities Exchange Co., Ltd. is Japan�s largest derivatives exchange. In 2007 total trading volume of all derivative products hit the record high of 108,916,811 units, up about 79.6% compared to the previous year. This year, the year 2008, is the 20th anniversary of the introduction of Nikkei 225 futures, the flagship product of OSE. OSE is the first listed exchange in Japan whose shares have been traded on it�s own market, �Hercules,� since April 2004. For more information about OSE, visit www.ose.or.jp/e/. About ISE The International Securities Exchange operates a family of fully electronic trading platforms, creating efficient markets through innovative technology and market structure. ISE�s markets portfolio consists of an options exchange and a stock exchange. As the world�s largest equity options trading venue, ISE offers equity, ETF, index, and FX options. The ISE Stock Exchange trades approximately 6,000 products, and is the only fully electronic equities platform that provides the opportunity for continuous price improvement through the interaction of its non-displayed liquidity pool, MidPoint Match, and its displayed stock market. ISE Alternative Markets is scheduled to launch in 2008 and will offer an events market trading platform for derivatives auctions. To complement its markets and enable investors to trade smarter, ISE creates innovative new products including a portfolio of proprietary indexes and enhanced market data products for sophisticated investors. ISE is a wholly owned subsidiary of Eurex, a leading global derivatives exchange. Eurex itself is jointly owned and operated by Deutsche B�rse AG (Ticker: DB1) and SWX Swiss Exchange. Together, Eurex and ISE are the global market leader in individual equity and equity index derivatives. For more information about ISE, visit www.ise.com.