THE PHILADELPHIA STOCK EXCHANGE TO BEGIN TRADING THREE NEW OPTIONS ON TUESDAY, OCTOBER 26

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

PHILADELPHIA – Oct. 25, 2004 - The Philadelphia Stock Exchange (PHLX) announced today that it will begin trading three new options on Tuesday, October 26.

Paxar Corp. (Nasdaq symbol: PXR/) has been allocated to LaBranche Structured Products, LLC. It will trade on the March expiration cycle with initial expiration dates of November, December, March and June. Position and Exercise limits have been set at 3,150,000 shares.

Kellwood Co. (Nasdaq symbol: KWD) has been allocated to LaBranche Structured Products, LLC. Securities. It will trade on the March expiration cycle with initial expiration dates of November, December, March and June. Position and Exercise limits have been set at 2,250,000 shares.

Laidlaw International, Inc. (Nasdaq symbol: LI) has been allocated to LaBranche Structured Products, LLC. Securities. It will trade on the February expiration cycle with initial expiration dates of February, May, August and November. Position and Exercise limits have been set at 3,150,000 shares.

The Philadelphia Stock Exchange (PHLX) was founded in 1790. The PHLX trades more than 2,200 stocks, 1,016 listed equity options, 12 sectors index options and currency pairs. For more information about the PHLX and its products, visit www.phlx.com.

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