Chicago, May 19, 2005

The Clearing Corporation ("CCorp") held its Annual Meeting of Stockholders yesterday. The following directors were elected to serve new terms.

Elected to terms expiring in 2008 as Class A directors are:

· Gerald F. Corcoran

· David Johnson

Elected to a one year-term as a Class E director is:

· Rudolf Ferscha

The Board of Directors met following the Stockholder Meeting to elect a new chairman and vice chairmen.

Michael C. Dawley will serve as Chairman of the Board for a one-year term. Joseph J. Murphy will serve as First Vice-Chairman and James G. McCormick will serve as Second Vice-Chairman, each for a one-year term.

About The Clearing Corporation
The Clearing Corporation, a stockholder-owned, Delaware corporation now in its 80th year of business. The Clearing Corporation serves numerous clients in a variety of markets and is the only active independent derivatives clearinghouse in the world. Additional information on The Clearing Corporation is available at www.clearingcorp.com.

Media contacts:
CCorp Andrew Yemma, Intermarket Communications +1-212-888-6115 x 225