(01-98) NYMEX Holdings, Inc. Chairman of the Board & Board of ,
 Notice No. 01-98
March 20, 2001


TO:
All Exchange Members

FROM:
Neal Wolkoff, Executive Vice President

SUBJECT:
NYMEX Holdings, Inc. Chairman of the Board & Board of Directors Results


The shareholders of the NYMEX Holdings, Inc., and the New York Mercantile=
=20
Exchange, Inc., today elected Vincent Viola by a margin of 476 to 115 as=20
chairman of the board and the following individuals to other positions on t=
he=20
Exchange board of directors: Gordon Rutledge, Madeline Boyd, Gary Rizzi, J.=
=20
Robert Collins, Kenneth Garland, Robert Steele, and Harley Lippman.

A resolution was also passed, by a vote of 469 for and 84 against, to add=
=20
three equity holder representative positions to the board. An election for=
=20
these positions will be scheduled shortly.

Mr. Viola, vice chairman of the Exchange from 1993 to 1996, is the founder=
=20
and sole owner of Pioneer Futures, Inc., which is currently a clearing memb=
er=20
of both divisions of the New York Mercantile Exchange, and the New York Boa=
rd=20
of Trade. Mr. Viola also served on the Exchange board in the at-large=20
category from 1987 to 1990 He is a graduate of the United States Military=
=20
Academy at West Point and achieved the rank of major in the United States=
=20
Army Reserves. In 1983, he graduated from New York Law School with a juris=
=20
doctor degree.

In 1988, Mr. Viola formed the First Bank Group which operates community ban=
ks=20
in Dallas and the surrounding Texas area. In 1998, he formed MV Technologie=
s,=20
a developer of fully integrated electronic platforms for trading futures,=
=20
options, equities, and derivatives.

Mr. Viola co-founded and was chairman of the National Children=01,s Educati=
onal=20
Reform Foundation, which is dedicated to the fundamental reform and=20
improvement of inner-city education with an emphasis on bi-lingual programs=
=20
in immigrant communities. Mr. Viola has served on the West Point Fund=20
committee, an arm of the board of trustees which supports academy cadet=20
programs. In 1997, Mr. Viola received a man-of-the-year award from the Eden=
=20
School for Autistic Children. In 1998, Mr. Viola was awarded the Ellis Isla=
nd=20
Medal of Honor by the National Ethnic Coalition of Organizations. In 2000, =
he=20
was honored with the community service award from the Futures and Options f=
or=20
Kids charitable organization.

Mr. Rutledge was elected as the board representative in the floor broker=20
category. Mr. Rutledge, who is co-founder and owner of Onyx Brokerage Inc.,=
=20
has been a floor broker on the Exchange since 1981, after working for Merri=
ll=20
Lynch as a newswire editor and technical analyst. Prior to starting Onyx, h=
e=20
also worked for MercOil and J. Tafaro Brokerage. He serves on the membershi=
p,=20
technology, arbitration, adjudication, floor broker advisory, and political=
=20
action committees. Mr. Rutledge has a bachelor of arts cum laude from Harva=
rd=20
University.

Ms. Boyd was elected as the local representative to the board. Ms. Boyd has=
=20
been the at-large representative to the board for the past three years and =
a=20
member of the executive committee for the past year. She has traded gasolin=
e=20
for her own account for more than 16 years. She is has been chairman of the=
=20
NYMEX Charitable Foundation since 1992 and is also co-chairman of the local=
=20
advisory committee and the petroleum products advisory committee, and a=20
member of the coal advisory committee. She also serves as a director of the=
=20
Commodity Floor Brokers and Traders Association and Futures and Options for=
=20
Kids and holds a bachelor of science in business from Fairleigh Dickinson=
=20
University.

Mr. Rizzi was reelected for the third time as a futures commission merchant=
=20
(FCM) representative to the board. In addition to serving on the board for=
=20
the past six years, Mr. Rizzi has served two terms on the executive=20
committee, including the past year. He has been a member of the floor=20
community for 22 years. After working for Dean Witter for a year as a clerk=
,=20
Mr. Rizzi joined A.G. Edwards and became floor manager in 1982. He has been=
=20
an officer of the company and a conferring member of the Exchange for 17=20
years. He is also a member of the COMEX Division and both divisions of the=
=20
New York Board of Trade. He is the chairman of the membership, FCM advisory=
,=20
and technology committees and vice chairman of the facilities committee.

J. Robert (Bo) Collins, Jr., ran unopposed to fill the trade slot. Mr.=20
Collins is senior vice president of natural gas trading at El Paso Merchant=
=20
Energy, a division of El Paso Energy Corporation, the largest pipeline=20
operator and the third largest producer of natural gas in North America. Mr=
.=20
Collins directs the natural gas derivatives portfolio. Before joining El Pa=
so=20
in 1997, Mr. Collins was a natural gas and crude oil options market-maker=
=20
with Pioneer Futures on the Exchange trading floor. A graduate of Texas A&M=
=20
University, his first professional experience was in commercial banking wit=
h=20
the Dallas Federal Reserve Bank.

Mr. Collins has been a member of the Exchange since 1995 and has served on=
=20
the options advisory committee since 1996.

Mr. Garland was elected to his first term as the at-large representative to=
=20
the board. After receiving a masters degree in audiology from Long Island=
=20
University, Mr. Garland worked as a private and industrial audiologist for=
=20
eight years. He began trading at the New York Mercantile Exchange for his o=
wn=20
account in 1981. In 1982 and 1983, he also acted as a floor broker. Since=
=20
purchasing his seat in 1983, he has exclusively traded for his own account,=
=20
concentrating most of his time in the gasoline ring. He is vice chairman of=
=20
the Exchange floor and settlement committees; panel chairman on the=20
arbitration and adjudication committees; and also serves on the following=
=20
committees: membership; local advisory; and petroleum product advisory. Mr=
=20
Garland was also recommended by the Exchange in 1994 to represent it on the=
=20
National Futures Association membership appeals subcommittee, a position he=
=20
continues to hold to this day.

Mr. Steele and Mr. Lippman were elected to three-year terms as public=20
directors of the Exchange. Prior to the Exchange=01,s demutualization in=20
November 2000, the public directors were appointed by the board and served=
=20
two year terms.

Mr. Steele served as a public director of the Exchange from 1988 to 1994, a=
nd=20
was re-appointed to the board in 1999. He is vice chairman of John Ryan=20
Company, an international financial services marketing firm, and is directo=
r=20
of the Merlin Retail Financial Center in Stamford, Conn. He previously serv=
ed=20
as president and chief executive officer of the Norwich (CT) Savings Societ=
y=20
from 1975 to 1981, and as president and chief executive officer of Dollar D=
ry=20
Dock Bank of New York from 1985 to 1990.

Mr. Steele was a U.S. congressman (Second District, Conn) from 1970 to 1974=
,=20
and was the Republican candidate for governor of Connecticut in 1974. While=
=20
in Congress , he served on the House Foreign Affairs Committee, was the=20
ranking minority member of the Latin American subcommittee, and chaired or=
=20
co-chaired Congressional task forces on international drug trafficking and=
=20
problems of the aging. Following Congress, he was appointed chairman of the=
=20
Social Security committee of the White House conference on aging. In additi=
on=20
to the Exchange, Mr. Steele serves on the board of directors of SmartServ=
=20
Online (web and wireless transaction platform services provider), Scan=20
Optics, Inc. (document processing systems and information management=20
solutions), and NLC Insurance Companies. He is also chairman of the board o=
f=20
Moore Medical Corp. He served as a Soviet affairs specialist in the Central=
=20
Intelligence Agency from 1963 to 1968. He was a visiting lecturer in=20
government at the United!
 S!
tates Coast Guard Academy and is the recipient of an honorary doctor of law=
s=20
degree from Sacred Heart University in Connecticut.

Mr. Lippman is a major contributor to Feed The Children, sponsoring their=
=20
Christmas event in Harlem in December 2000. He also serves on the advisory=
=20
board of the Columbia University School of International and Public Affairs=
.=20
He is a member of the Information Technology Association of America and a=
=20
former trustee of The Washington Institute. He is also active politically a=
s=20
a fund-raiser for both the Republican and Democratic parties, including=20
hosting fund-raising events at his home.

Last week, Michael Devaney was elected to replace John Moore as chairman of=
=20
the COMEX governors committee, a two-year term in which he will head the=20
committee which advises the board on matters uniquely pertinent to COMEX=20
Division members. In that capacity he will attend all Exchange board meetin=
gs=20
to represent the views of the COMEX Division members.

Mr. Devaney has served as vice chairman of the COMEX governors committee fo=
r=20
the past two-and-a-half years; has served on the governors committee since=
=20
1994; and has been a member of the Exchange since 1985. He is the owner of=
=20
Great Lakes, Inc., an independent floor brokerage operation, and has served=
=20
on the Exchange membership, floor, facilities, business conduct, compliance=
=20
review, marketing, margin, political action, and rules committees.

Editor=01,s note: There will be a press luncheon to meet Mr. Viola at 1:30 =
PM,=20
Wednesday, March 21, on the 10th floor of the New York Mercantile Exchange=
=20
headquarters, One North End Avenue.




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