THE PHILADELPHIA STOCK EXCHANGE TO BEGIN TRADING ONE NEW OPTION ON FRIDAY, MAY 12

PHILADELPHIA — May 11, 2006 - The Philadelphia Stock Exchange (PHLX) announced today that it will begin trading one new option beginning Friday, May 12. The option was allocated to Group One Ltd.

Cortex Pharmaceuticals, Inc. (option/stock symbol: COR) will trade on the February expiration cycle with initial expiration months of May, June, August and November. Position and exercise limits have been set at 50,000 contracts.

The Philadelphia Stock Exchange was founded in 1790. The PHLX trades 2,000 stocks, 2,131 equity options, 20 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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