November 13, 2000
Notice to Member No. 389

New York Mercantile Exchange to Base Certain enymex Contracts on Platts 
Benchmarks

The New York Mercantile Exchange and Platts, the world's premier energy 
market information service, have signed a letter of intent for Platts pricing 
benchmarks to be used in enymex contracts for crude oil, refined oil 
products, natural gas, electricity, and metals.

Platts, a division of The McGraw-Hill Companies (NYSE: MHP), will also 
provide enymex with real-time news and market commentary.

The Exchange will license Platts, price assessments and benchmarks as a basis 
for commodities contracts traded on enymex, an internet-based platform for 
trading and clearing forward contracts for physical commodities.  The system 
is scheduled for launch during the second quarter of 2001.

"Every day, more than $10 billion worth of energy commerce is based on 
Platts' exclusive and authoritative price assessments," said Harry Sachinis, 
president of Platts. "With this agreement, Platts will extend its leadership 
to the emerging world of energy e-commerce. It is significant that the world,
s largest energy exchange, the New York Mercantile Exchange, has chosen to 
base its enymex contracts on Platts benchmarks."

Exchange Chairman Daniel Rappaport said, "We are proud that enymex will have 
standing behind it the two biggest names in providing price transparency to 
the energy and metals industries. This agreement brings us one step closer to 
the Exchange,s goal of extending the same leadership and credibility to a B2B 
marketplace as we have so successfully offered these industries through our 
bricks-and-mortar business.  Most importantly, it will enable us to offer 
clearing services and an open marketplace for popular over-the-counter 
products."

Platts is the world's largest and most authoritative provider of energy 
market information, with more than 325 professionals worldwide and products 
ranging from real-time and Internet-based news services, to market reports, 
databases, magazines and conferences. The company is also a leading provider 
of news, pricing and analysis on the global metals market. Additional 
information is available at www.platts.com and www.plattsmetals.com.

Founded in 1888, The McGraw-Hill Companies is a global information services 
provider meeting worldwide needs in the financial services, education and 
business information markets through leading brands such as Standard & Poor,
s, BusinessWeek and McGraw-Hill Education.  The corporation has more than 400 
offices in 32 countries.  Sales in 1999 were $4.0 billion.  Additional 
information is available at www.mcgraw-hill.com.


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