THE PHILADELPHIA STOCK EXCHANGE TO BEGIN TRADING ONE NEW OPTION ON FRIDAY, DECEMBER 9

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

PHILADELPHIA—December 8, 2005—The Philadelphia Stock Exchange (PHLX) announced today that it will begin trading one new option beginning Friday, December 9. The option was allocated to LaBranche Structured Products, LLC.

Boardwalk Pipeline Partners, LP (option/stock symbol: BWP) will trade on the March expiration cycle with initial expiration months December, January, March and June. Position and exercise limits have been set at 25,000 contracts.

The Philadelphia Stock Exchange was founded in 1790. The PHLX trades 2,000 stocks, 1,926 equity options, 25 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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