PRESS RELEASE Investor and Media Contacts: …

PRESS RELEASE

Investor and Media Contacts:                                    Media Contacts:
Kelly Loeffler, VP, Investor Relations & Corp. Communications   Ellen G. Resnick
IntercontinentalExchange                                        Crystal Clear Communications
770-857-4726                                                    773-929-9292 (o); 312-399-9295 (c)
kelly.loeffler@theice.com                                       eresnick@crystalclearPR.com

Sarah Stashak, Director, Investor & Public Relations            Annette Bronkesh
IntercontinentalExchange                                        Bronkesh Associates
770-857-0340                                                    973-778-8648
sarah.stashak@theice.com                                        annettec@att.net




    IntercontinentalExchange Announces Acquisition of Creditex Group Inc.

     **Transaction Brings Together Innovators in OTC Products and Services **
**Ground-breaking Combination Best Positioned to Address Calls for Enhanced CDS
                          Processing Scale and Services**
             **Investor Call and Presentation Scheduled for 9 A.M. ET**


ATLANTA, GA (June 3, 2008) ­ IntercontinentalExchange (NYSE: ICE), a leading operator of
global derivatives exchanges and over-the-counter (OTC) markets, today announced that it has
entered into a definitive merger agreement to acquire Creditex Group Inc. (Creditex), a credit
market leader and innovator in the execution and processing of credit default swaps (CDS) with
markets spanning the U.S., Europe and Asia. Creditex is a leader in the most liquid segments of
the CDS market including CDS indexes, single-names and standardized tranches.

The transaction consideration will total $625 million comprising approximately $565 million in
ICE common stock and $60 million in cash, as well as a working capital adjustment to be
finalized at closing. Approximately $50 million of the cash component is intended to provide
some liquidity to employees that hold Creditex stock, and the remaining cash will be provided to
unaccredited Creditex shareholders in lieu of shares of ICE common stock. Upon the closing of
the transaction, expected during late third quarter 2008, Creditex Group will be a wholly-owned
subsidiary of ICE, operating under the Creditex name.

"We are pleased to announce this exciting strategic combination and for the opportunity to serve
the interdealer CDS market by joining with an established market leader," said ICE's Chairman
and CEO Jeffrey C. Sprecher. "We believe that together we can meet the demand for enhanced
operational and risk management tools required by dealers and their clients today. The credit
derivatives sector is one of the largest segments of the OTC market, and we expect that the
highly regarded team at Creditex will continue to lead with innovative solutions to ensure that
liquidity and risk management tools evolve with these markets."

"We are very excited about this transaction and look forward to the opportunities ahead in
strengthening our position as a leader in CDS by partnering with ICE," said Creditex's Chairman
and CEO Sunil Hirani. "Our companies have common origins in supporting dealers by providing
the key infrastructure required to grow their businesses. ICE clearly represents the best fit in
terms of innovation, global relationships and a culture of growth, as well as having the
complementary ability to meet the execution and processing needs of our dealer clients in the


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fast-growing CDS markets. Creditex's products and services, together with ICE's management
team, range of OTC expertise, and post-trade infrastructure, will enhance our CDS offering to
best meet the needs of our clients in this expanding marketplace."

The transaction is expected to be accretive in 12 to 18 months from closing. Based on recent
results and expected synergies, the transaction would yield $9 million to $14 million in total
pretax synergies in 2009, comprising incremental revenues and expenses.

In addition to accretion and synergies, the transaction benefits are expected to include:

   ·   Revenue growth and diversification: ICE will offer OTC execution services to the $60
       trillion market for credit derivatives, which is one of the largest and fastest growing OTC
       markets today. As a leading CDS execution platform, Creditex employs a hybrid model
       that combines a leading brokerage team with a liquid electronic CDS platform. ICE will
       benefit from Creditex's strong revenue growth as well as from the diversification of ICE
       revenues into the CDS markets.

   ·   Expansion into new OTC markets: ICE sees significant additional opportunities for
       expansion of Creditex's successful OTC trading model to other interdealer OTC markets
       beyond credit derivatives. Creditex's technology platform already supports a range of
       OTC asset classes and its proprietary block-trading technology can be applied to other
       markets where dealers require efficient, anonymous execution in large notional
       amounts.

   ·   Addresses calls for improved OTC infrastructure: This combination positions the
       company to help address recent calls by the Operations Management Group (OMG),
       the President's Working Group, U.S. Treasury Secretary Henry Paulson and industry
       participants for improvements in the operational infrastructure of the OTC markets. In
       the credit derivatives space, ICE's significant post-trade assets will provide additional
       resources to expand the already widely adopted T-Zero platform. The transaction
       combines expertise from both T-Zero and ICE's successful eConfirm energy processing
       platform, positioning ICE to provide the robust, cross-asset class processing services
       needed for market scalability.

   ·   Revenue and expense synergies: The acquisition is expected to facilitate continued
       growth in the popular CDS products, combine two significant post-trade service offerings
       and leverage Creditex's expertise in successful product development for the CDS
       market. The companies have identified expense synergies in a number of operational
       areas and expect incremental revenue synergies through new product and services
       offerings.

Agreement Terms and Company Structure
Under terms of the merger agreement, Creditex will become a wholly-owned subsidiary of ICE.
ICE has invited senior Creditex management to continue with the combined company. ICE
expects to finance the cash portion of the merger consideration with cash on hand. The number
of shares of ICE common stock expected to be issued pursuant to the merger agreement will
represent approximately 6% of the issued and outstanding share capital of ICE following the
consummation of the merger. ICE has agreed to file a registration statement to allow non-
employee stockholders to resell the shares of ICE common stock they receive in the merger.

The transaction is subject to the receipt of required government approvals, including the
expiration of the applicable Hart-Scott-Rodino waiting period, the receipt of U.K. Financial
Services Authority (FSA) approval and other regulatory approvals. Evercore Group L.L.C. was


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the exclusive financial advisor and Goodwin Procter LLP served as the legal advisor to
Creditex. Morgan Stanley advised ICE on the transaction and Sullivan & Cromwell LLP served
as ICE's legal advisor.

Creditex operates a hybrid model of voice and electronic execution, and was the first to
successfully launch electronic trading for CDS in 2004. Creditex has maintained its leadership
position in electronic trading and successfully launched several anonymous electronic execution
products, such as VolumeClearingTM, in North America, Europe and Asia. Creditex also acts as
official co-administrator of cash settlement auctions sponsored by the International Swaps and
Derivatives Association (ISDA), which are used to settle CDS contracts in connection with
defaults. In addition to its core execution business, Creditex has two operating subsidiaries, T-
Zero and Q-WIXX, which provide additional electronic processing and execution services in the
CDS space.

T-Zero is the most widely adopted electronic affirmation platform for credit derivatives, with
support from 17 dealers, 10 prime brokers and 196 buy-side participants. It offers two core
products: straight-through-processing (STP) services for the interdealer market and trade
affirmation services for the dealer-client market. T-Zero's affirmation platform includes its
innovative GoldSync+TM and Novations+TM functionality, which are designed to meet industry
targets set by the OMG and are compatible with the Depository Trust Clearing Corporation's
confirmations platform. The OMG comprises ISDA members, dealers and buy-side participants,
with the goal of finding solutions for addressing CDS processing issues.

Q-WIXX is an electronic dealer-client list execution platform, with support from 11 major credit
derivative dealers and several of the world's largest hedge funds. The innovative platform was
recently launched in partnership with major dealers to provide electronic OTC execution of large
single-name CDS lists, a process that is typically time-consuming and prone to significant
operational risk using traditional execution methods.

There will be an analyst and investor conference call conducted by management teams of both
ICE and Creditex to discuss the transaction, today at 9:00 a.m. ET that will conclude no later
than market open. A live audio Webcast of the call with accompanying presentation slides will
be available on the Investor Relations section of ICE's website at
http://ir.theice.com/events.cfm. A call-in number is also available: Domestic 866-362-4666,
International 617-597-5313; Passcode 12463282. A replay of the call will also be available
starting at 11:00 a.m.: Domestic 866-286-8010, International 617-801-6888; Passcode
80190215.


About IntercontinentalExchange
IntercontinentalExchange® (NYSE: ICE) is a leading operator of global exchanges and over-the-counter (OTC)
markets. ICE offers futures and OTC markets on a single trading platform, including markets for crude oil and
refined products, natural gas, power and emissions, as well as agricultural commodities and financial products
such as canola, cocoa, coffee, cotton, ethanol, orange juice, wood pulp, sugar, foreign currency and equity
index futures and options. ICE® conducts its energy futures markets, including the leading oil benchmark
contracts, through its London-based exchange, ICE Futures EuropeTM. ICE conducts its global agricultural
commodity, foreign exchange and equity index futures markets through its U.S. and Canadian exchanges, ICE
Futures U.S.TM and ICE Futures CanadaTM, and offers clearing services through ICE Clear U.S.TM and ICE Clear
         TM
Canada . ICE's state-of-the-art electronic trading platform serves market participants in more than 55
countries. ICE is included in the Russell 1000® Index and the S&P 500 Index. Headquartered in Atlanta, ICE
has offices in Calgary, Chicago, Houston, London, New York, Singapore and Winnipeg. For more information,
please visit www.theice.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this
press release regarding IntercontinentalExchange's business and the combination with Creditex Group that are
not historical facts are "forward-looking statements" that involve risks and uncertainties. The following factors,



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among others, could cause actual results to differ from those as set forth in the forward-looking statements: the
ability to obtain governmental approvals and rulings on or regarding the transaction on the proposed terms and
schedule; the risk that the businesses will not be integrated successfully; the risk that the revenue opportunities,
cost savings and other anticipated synergies from the merger may not be fully realized or may take longer to
realize than expected; disruption from the merger making it difficult to maintain relationships with customers,
employees or suppliers; competition and its effect on pricing, spending and third-party relationships and
revenues; regulatory changes or new interpretations of existing regulations could negatively impact the
business, social and political conditions such as war, political unrest or terrorism; general economic conditions
and normal business uncertainty. For a discussion of additional risks and uncertainties, which could cause
actual results to differ from those contained in the forward-looking statements, see ICE's Securities and
Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on
Form 10-K for the year ended December 31, 2007, as filed with the SEC on February 13, 2008.




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