Notice of Termination for Endex Dutch Power Clearing Service

This circular is to notify EnClear members that the clearing service for Endex Dutch Power contracts will cease to be operated by LCH.Clearnet Ltd.

The termination is initially planned to take place during June 2007, although this may be subject to change.

At the agreed termination date all positions remaining at LCH.Clearnet Ltd will be transferred to European Commodity Clearing AG (ECC). Endex currently clear Dutch TTF gas and Belgian power futures through ECC and this service will be extended to include Dutch Power.

There will be no further general communications on this transfer - all further information will be shared with those clearing members directly affected.

Yours sincerely

Gary Lyons

Exchange Relationship Manager
European Energy & Freight Services
Direct line: +44 (0)20 7426 7122