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Amex Board Elects Chairman and CEO

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The Board of Governors of the American Stock Exchange (Amex) elected Neal L. Wolkoff Chairman and Chief Executive Officer.

Mr. Wolkoff, 49, has been Acting CEO of the American Stock Exchange since January 2005.

“I feel privileged to have the opportunity to lead the American Stock Exchange in this exciting and challenging time in the securities industry,” said Mr. Wolkoff. “There is a tremendous amount of talent here and I look forward to working closely with the membership, my colleagues on the board and the management team to provide the highest quality marketplace for our customers.”

“Neal has shown decisive leadership in his short time here and we have complete confidence in his abilities to guide the American Stock Exchange into a new era as an independent securities exchange,” said Phillip Frost, M.D., Amex Board Governor and Chairman and CEO of IVAX Corporation.

Mr. Wolkoff replaces Salvatore F. Sodano as Chairman. Mr. Sodano announced his retirement following the sale of the American Stock Exchange on December 31, 2004, which transferred control of the American Stock Exchange to The Amex Membership Corporation from NASD.

Previously, Mr. Wolkoff served as Chief Operating Officer and Executive Vice President of the New York Mercantile Exchange (NYMEX), where he spent more than 20 years in several senior level officer positions. Mr. Wolkoff received a B.A. from the College of Columbia University and a J.D. from Boston University School of Law. He is a member of the Bar of the State of New York and the United States District Court, Southern District of New York.

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Amex Board Elects Chairman and CEO
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