General Information Regarding Realignment On October 23, 2003

On October 23, 2003, The Clearing Corporation's stockholders approved a corporate realignment that fundamentally changed the manner in which ownership of shares in The Clearing Corporation may be transferred (bought and sold). Prior to the realignment, transfer of shares in The Clearing Corporation was restricted. Now, Class A shares in The Clearing Corporation are freely transferable, subject to applicable securities laws.

Another significant change that resulted from the realignment is that clearing participants are no longer required to own shares. Further, stockholders are not required to be clearing participants. In other words, although immediately after the realignment The Clearing Corporation had 50 stockholders, it is likely that the number of stockholders will increase or decrease over time, since anyone can own shares (even without clearing at The Clearing Corporation).

All questions relating to the ownership or transfer of The Clearing Corporation's stock should be directed to the Corporate Secretary of The Clearing Corporation, Kevin R. McClear, at (312) 786-5763.