| Originating department: | Commercial Services |
| Company Circular No: | LCH.Clearnet Ltd Circular No: 2156 |
| Service Circular No: | ICE EnClear 172 |
| Date: | 19 June 2007 |
| To: | All ICE EnClear Clearing Members |
Reduction to LCH.Clearnet Fees on IntercontinentalExchange Inc
Following LCH.Clearnet Ltd announcement on 9 March 2007 about the reduction to clearing fees in respect of trades executed on ICE we are pleased to advise you that the fee rates below will be reduced with effect from 1 July 2007.
The current 50% fee holiday on selected power contracts will be extended to all power contracts as a permanent fee reduction.
Cash settlement fees will be reduced to the same rate as Registration fees below.
There will be no change to the NBP Natural Gas fees.
There will be no change to the Option Exercise fee for any of the products.
Registration Fee Table
| Contracts | Current | New |
| Fuel Oil Swaps - 6350 bbls | US$1.50 | US$1.00 |
| Jet Fuel Swaps - 7880 bbls | US$1.90 | US$1.00 |
| Oil First Line Swaps | US$0.12 | US$0.09 |
| Natural Gas Swaps | US$0.03 | US$0.02 |
| Natural Gas Basis Swaps | US$0.03 | US$0.02 |
| Natural Gas Index Swaps | US$0.03 | US$0.02 |
| Natural Gas Swing Swaps | US$0.03 | US$0.02 |
| Peak Financial Power Swaps - 800 MWh | US$4.00 | US$2.00 |
| Peak Financial Power Swaps - 400 MWh | US$2.00 | US$1.00 |
| Off-Peak Financial Power Swaps - 50 MWh | US$0.25 | US$0.12 |
| Off-Peak Financial Power Swaps - 25 MWh | US$0.125 | US$0.06 |
Yours sincerely
David Farrar
Senior Relationship Manager
Commercial Services