The Philadelphia Stock Exchange Names Paul L. Roland to the Position of Director of Project Management Services

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

PHILADELPHIA – Nov. 3, 2005 - The Philadelphia Stock Exchange announced today
Paul L. Roland has been appointed to the position of Director of Project Management Services.

In this new position, as part of the Strategic Product Development and Execution department, Mr. Roland will be responsible for expanding and managing the Project Management Office to provide exchange senior executives, the CEO, and the Board of Governors, with in-depth and timely understanding of the status of PHLX ‘s strategic initiatives.

Before joining the PHLX, Mr. Roland was Product Director for Tamale Inc., a provider of research management systems to investment professionals. He provided strategic and tactical direction for the all product development and project management, business case development, and partnership initiatives.

Prior to that, Mr. Roland worked as a sales-trader helping clients with both cost-effective implementation of trading decisions and develop an understanding of trading technology and market structure, for the institutional brokerage firm White Cap Trading.

From 1999 through 2003, Mr. Roland was employed by Bloomberg Tradebook, where he held several positions including Director of Product Strategy and Development where was responsible for setting strategic goals and development priorities for a all trading operations and compliance projects for NYSE listed and NASDAQ business.

Mr. Roland received a bachelor’s degree in political science and international affairs from Columbia University in 1999.

The Philadelphia Stock Exchange was founded in 1790. The PHLX trades 2,000 stocks, more than 1,750 equity options, 26 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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