THE PHILADELPHIA STOCK EXCHANGE TO BEGIN TRADING ONE NEW OPTION ON FRIDAY, AUGUST 3

PHILADELPHIA — August 2, 2007 - The Philadelphia Stock Exchange (PHLX) announced today that it will begin to trade one new option on August 3, 2007. The following option was allocated to Timber Hill Inc.:

Vanguard European ETF (option/stock symbol: VGK) will trade on the March expiration cycle with initial expiration months of August, September, December and March. Position and exercise limits have been set at 50,000 contracts.

The Philadelphia Stock Exchange was founded in 1790. The PHLX trades over 7,000 stocks, 2,502 equity options, 19 sectors index options and currency options and futures. For more information about the PHLX and its products, visit www.phlx.com.