NYSE Euronext to acquire 5% in MCX.

[Sukumar]

MUMBAI: NYSE Euronext on Friday said it has signed a binding term
sheet to acquire 5 per cent equity in the Multi Commodity Exchange,
the maximum permissible under current Indian law.

The transaction is expected to be closed in the first half of 2008.

MCX provides a trading platform for precious metals, ferrous and non-
ferrous metals, energy, agriculture and industrial commodities.

"We believe that our investment in MCX will produce new business
opportunities for NYSE Euronext in the commodities sector and deliver
value to NYSE Euronext shareholders," said Duncan L Niederauer, NYSE
Euronext Chief Executive Officer.

In addition to NYSE Euronext, other shareholders in MCX include State
Bank of India and its associates (SBI), National Bank for Agriculture
and Rural Development (NABARD), National Stock Exchange of India Ltd.
(NSE), SBI Life Insurance Co Ltd, Bank of India (BoI), Bank of Baroda
(BoB ), Union Bank of India, Corporation Bank, Canara Bank, HDFC Bank,
Fid Fund (Mauritius) Ltd, an affiliate of Fidelity International,
ICICI Ventures, IL&FS, Kotak group, Citibank, Merrill Lynch and
Financial Technologies.

Currently, there are 14 corporate listings from India on NYSE Euronext
markets, 12 on the New York Stock Exchange and two on Euronext, whose
combined total global market capitalization exceeds $110 billion.

On July 31, 2006, MCX and Liffe, NYSE Euronext's derivatives business,
entered a licensing agreement for MCX to use Liffe futures prices,
enabling MCX to list domestic 'mini' futures contracts for both
robusta and white sugar based upon Liffe futures prices and to
identify other areas of potential collaboration.