IntercontinentalExchange Named Derivatives Exchange of the Year                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
Atlanta, GA (January 23, 2002) - IntercontinentalExchange, one of the world's most liquid and fastest growing commodity marketplaces, has been named Derivatives Exchange of the Year for 2002 by Risk magazine. The Risk Awards recognize excellence and innovation in the fast-changing risk management and over-the-counter derivatives businesses. Intercontinental was selected for its phenomenal performance in 2001 in light of the difficult year experienced by many trading platforms in the global energy sector.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
"The Intercontinental organization has experienced a tremendous year," said Jeff Sprecher, CEO of IntercontinentalExchange, who was also recently named as one of the Top Entrepreneurs of 2001 by Businessweek magazine. "To be named Derivatives Exchange of the Year is a testament to the extremely talented group surrounding me at Intercontinental, who are successfully advancing a very powerful business model."                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
Intercontinental experienced tremendous growth and reached numerous milestones in 2001. With the acquisition of International Petroleum Exchange of London (IPE), Europe's leading energy futures and options exchange, ICE added a broad range of exchange-traded energy-based futures and options markets to its extensive roster of energy and metals-based over-the-counter (OTC) derivatives markets.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
In August 2001, Intercontinental signed an agreement to offer optional clearing services to its OTC market participants with The London Clearing House (LCH). With this service, Intercontinental will be uniquely positioned to offer market participants the option to utilize clearing services for global energy and metals transactions.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
Coupled with the July 2001 closing of its acquisition of the IPE, Intercontinental will                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
be the world's first exchange organization to offer a full spectrum of risk management products ranging from traditional bi-lateral OTC agreements to cleared OTC products to exchange-traded futures and options on futures.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
The past year also saw Intercontinental make its move into the European OTC gas and power markets with the introduction of markets for UK natural gas-related products in December 2001. To support this expansion, ICE entered into agreements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
with a number of leading firms engaged in the sale and trading of UK natural gas.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
In addition to expanding its product offerings in 2001, Intercontinental experienced                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
rapid and substantial growth. The past year saw Intercontinental increase the number of participating firms and users by more than 400%. Equally impressive, the number of trades executed on the Exchange grew 15 fold over that same period.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
Intercontinental will receive the award at the Risk Awards Presentation Dinner on                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
February 28th in New York. The proceeds of the dinner will go to Risk Waters Group World Trade Appeal Fund.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
About IntercontinentalExchange                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
IntercontinentalExchange is one of the world's most liquid and fastest growing electronic commodity marketplace, owned by over 100 of the world's leading energy and metals traders, brokers and bankers.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
The Exchange electronic trading system is installed on over 7,500 desktops worldwide from which traders log on each day of the business week to trade more than 600 listed commodity and derivative contract types. Broadly, these include crude oil and refined products, natural gas, power, precious metals 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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
Based in Atlanta (and with offices in New York, Houston, Chicago, London and Singapore), this electronic exchange is taking the technological revolution that occurred in international financial markets and extending it into global commodity markets.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
IntercontinentalExchange is the owner of the International Petroleum Exchange of London (IPE), Europe'                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
 leading energy futures and options exchange. The IPE provides highly regulated open outcry and electronic marketplaces where industry participants use futures and options to minimize their price risk exposure in the physical energy market.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
Products traded on IPE include Brent Crude futures and Options, Gas Oil futures and Options, Natural Gas futures and Electricity (baseload) futures.