Press Release

LCH.Clearnet clears record volumes in European energy markets in July 

London, 4 August 2005

LCH.Clearnet, the pan-European clearing house, announced this morning that its energy service handled a record 20.6 terawatt hours in European power contracts during July. The figures for July demonstrate the value that the industry now attaches to central counterparty services, and these volumes, which have continued to increase over recent months, are very encouraging.

Richard Heyman, Director – Customer & Market Management, said: ”We are delighted to see this acceptance of central counterparty services across such a broad sweep of European trading activity. As volumes are becoming ever more significant, the provision of margin offset, enabling members to maximise the benefits of a central counterparty service, is all the more desirable and is a goal towards which we are actively working.”

Tim Knight, Managing Director - BNP Paribas Commodity Futures, said: “We are delighted to see the growth of volumes in energy clearing provided by LCH.Clearnet, and are pleased to be able to play an active role in cementing LCH.Clearnet as a leading pan-European clearing house in these markets.”