PHILADELPHIA STOCK EXCHANGE ANNOUNCES DECISION BY SUSQUEHANNA INTERNATIONAL GROUP TO RESCIND FEES

For more information, contact Barbara Sorid at 215-496-5200 or by e-mail

PHILADELPHIA — September 30, 2004 — The Philadelphia Stock Exchange (PHLX) announced today that it was informed by Susquehanna International Group (SIG) that SIG would not implement the proposed fee on October 1 that would have charged commissions and cancellation fees against equity and index option orders and Exchange Traded Funds.

The Philadelphia Stock Exchange was founded in 1790. The PHLX trades nearly 2,000 stocks, 1,500 equity options, 17 sectors index options, and currency options and futures. For more information about the PHLX and its products, visit www.phlx.com.

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