• William A. Porter, Chairman
• David Krell, President & CEO
• Gary Katz, Senior Vice President,
  Marketing & Business Development
• Michael J. Simon, Senior Vice President,
  Chief Regulatory Officer and General Counsel
• Daniel P. Friel, Senior Vice President,
  Chief Information Officer
• Bruce Cooperman, Senior Vice President,
  Chief Financial Officer
• Paul J. Bennett, Vice President
  Project Director, Technology
• Lawrence P. Campbell, Vice President
  Technical Services
• Jerome Mangano, Vice President
  Computer/Market Operations
• Gregory J. Maynard, Vice President
  Member Services, Technology
  
• Richard T. Pombonyo, Vice President, Marketing
• Katherine Simmons, Vice President &
  Associate General Counsel

David Krell, President & CEO
David Krell is a founder and President & CEO of ISE. From 1997 to 1998, he was Chairman and co-founder of K-Squared Research, LLC, a financial services consulting firm. From 1984 to 1997, Mr. Krell was Vice President, Options and Index Products, of the New York Stock Exchange where he managed marketing, systems and new product introductions for the division. From 1981 to 1984, Mr. Krell was First Vice President at the Chicago Board Options Exchange, responsible for the management and operation of the Marketing and Sales Division. Mr. Krell was also a Vice President of Merrill Lynch from 1978 to 1981 and founded its Managed Options Service. Active in numerous industry groups, Mr. Krell is a Director on the Board of the International Federation of Technical Analysts, a former president of the Market Technicians Association and a past Director on the Board of The Options Clearing Corporation. As well, Mr. Krell is an Adjunct Professor at Rutgers University Graduate School of Management and at the Graduate School of Baruch College. He has also taught, coordinated and directed numerous seminars and workshops at the New York Institute of Finance. Mr. Krell holds an M.B.A. from Bernard Baruch College and a B.A. from Queens College.

Gary Katz, Senior Vice President,
Marketing & Business Development
Gary Katz is a founder and SVP, Marketing and Business Development of ISE. From 1997 to 1998, he was President and co-founder of K-Squared Research, LLC, a financial services consulting firm. From 1986 to 1997, Mr. Katz was Managing Director, Options and Index Products, at the New York Stock Exchange. There he managed the research and development of new options products and spearheaded a major marketing program for the promotion of NYSE options products. Mr. Katz is a co-founder of The Options Industry Council, a trade group dedicated to promoting the equity options sector through the education of the investing public. Prior to 1986, Mr. Katz was an actuary with the Equitable Life Assurance Company and is an Associate of the Society of Actuaries. Mr. Katz is an Adjunct Professor of Statistics at the Stern School of Business, New York University, where he conducts classes in business mathematics applications and also teaches classes in options strategies and pricing at the New York Institute of Finance. Mr. Katz has an M.S. in Statistics with Distinction from New York University and a B.A. from Queens College.

Michael J. Simon, Senior Vice President,
Chief Regulatory Officer and General Counsel
Michael Simon is SVP, Chief Regulatory Officer and General Counsel of ISE. From 1993 to 1998, Mr. Simon has been "Of Counsel" to Milbank, Tweed, Hadley & McCloy. He had previously been Senior Attorney and an Associate with the firm since 1988. Mr. Simon has practiced in the firm's Corporate and Banking Department where for the last six years he had primary responsibility for representation of the New York Stock Exchange, focusing on corporate listings, market structure and regulation. From 1986 to 1988, Mr. Simon was Vice President and Associate General Counsel of the National Securities Clearing Corporation, where he handled general corporate and regulatory matters. There, he also worked on international clearance and settlement and on the development of the first clearance and settlement facility for government securities. From 1978 to 1986, Mr. Simon was with the U.S. Securities and Exchange Commission where he was Assistant Director for Over-the-Counter Market Regulation and Structure. Mr. Simon is a graduate of the University of Pittsburgh School of Law and the University of Rochester, and is a member of the American Bar Association.

Daniel P. Friel, Senior Vice President,
Chief Information Officer
Daniel Friel is Senior Vice President, Chief Information Officer of ISE. From 1977 to 1999, he was with Securities Industry Automation Corporation (SIAC), a jointly owned subsidiary of the New York Stock Exchange (NYSE) and American Stock Exchange (Amex). From 1994 to 1999, he was vice president of Amex Computer Operations, managing a 24 hour dual-site operation. His responsibilities included quality assurance testing, communications, trading floor support and systems programming related to SIAC's work for Amex. Prior to 1994, Mr. Friel held several management positions at SIAC, implementing numerous innovations that remain an integral part of SIAC's services to the equities and options markets. A graduate of Cathedral College of the Immaculate Conception, Mr. Friel holds a B.A. degree in psychology.

Bruce Cooperman, Senior Vice President
Chief Financial Officer
Bruce Cooperman is Senior Vice President, Chief Financial Officer of ISE. From 1997 to 1999, he was Senior Vice President at the Board of Trade of the City of New York (NYBOT). During his tenure, he was Chief Financial Officer of the New York Cotton Exchange (subsidiary of NYBOT) and played a lead role in developing the first electronic marketplace for trading U.S. Treasury futures contracts. From 1993 to 1997, Mr. Cooperman was Director of Finance and Information Technology at Fischer, Francis, Trees and Watts where he directed the global operations of the finance and technology divisions. From 1992 to 1993, he was a Vice President in the Finance Division of CS First Boston, where he supervised the management reporting and budgeting effort. Mr. Cooperman is a graduate of Ohio State University, where he received B.S. degrees in accounting and computer science.

Paul J. Bennett, Vice President
Project Director, Technology
Paul Bennett is Vice President, Project Director, Technology of ISE. From 1988 to 1999, he was with the Australian Stock Exchange (ASX), most recently as the project director heading up the transition of trading from a floor-based system to a fully automated market. In previous positions at ASX, Mr. Bennett was responsible for all aspects of information systems management for the derivatives business unit and customer account management to the users of information systems services. From 1986 to 1988, he was manager of information systems at East-West Airlines and before then was systems development manager with Joint Exchange Computers. Prior to moving to Australia, Mr. Bennett held developmental and operational positions in the information technology industry in Great Britain.

Lawrence P. Campbell, Vice President
Technical Services
Larry Campbell is Vice President, Technical Services of ISE. From July 1998 to 1999, he was project management consultant for PriceWaterhouseCoopers working on the integration testing of the NASDAQ/AMEX project. His responsibilities included the management of the project plan for the testing and operational integration, design and implementation of multiple testing configurations, business requirement development, and hardware and software procurement for testing environments. Prior to July 1998, Mr. Campbell was with Prudential Investments as project management/quality assurance where he applied an effective project management strategy to a critical People Soft upgrade project. Previously, he was with Securities Industry Automation Corporation (SIAC), a jointly owned subsidiary of the New York Stock Exchange (NYSE) and American Stock Exchange (Amex) where he held several management positions providing technical direction.

Jerome Mangano, Vice President
Computer/Market Operations
Jerry Mangano is Vice President, Computer/Market Operations of ISE. From 1979 to 1999, he was with the Securities Industry Automation Corporation (SIAC), a jointly owned subsidiary of the New York Stock Exchange (NYSE) and American Stock Exchange (Amex). Mr. Mangano was managing director of computer operations and quality assurance for the American Stock Exchange market data systems. His responsibilities included managing a 5 x 24 hour dual site operation in support of Amex trading, ensuring that all systems performed at optimal levels of reliability. In these capacities, Mr. Mangano worked with OPRA, CTS and CQS. A graduate of St. Francis College in Brooklyn, NY, Mr. Mangano holds a B.S. degree in business administration.

Gregory J. Maynard, Vice President
Member Services, Technology
Greg Maynard is Vice President, Member Services, Technology of ISE. From 1983 to 1999, he was with the Australian Stock Exchange (ASX), most recently as a business analyst responsible for member firms' connectivity to the trading system, acting as the primary facilitator between the members, system developers and ASX management. ASX was one of the first options markets to shift from floor to screen trading. In previous positions at ASX, Greg was responsible for the functionality and maintenance of the OM CLICK trading system. From 1980 to 1983, he was with Telecom Australia, where he was responsible for support and maintenance of mainframe-based operating system software. A graduate of Monash University in Melbourne, Mr. Maynard holds a B.S. degree in computer science.

Richard T. Pombonyo, Vice President, Marketing
Richard Pombonyo is Vice President, Marketing of ISE. From 1997 to 1998, he was President of RTP Associates, a financial services consulting firm. From 1990 to 1997, Mr. Pombonyo was Managing Director, Marketing, at the New York Futures Exchange (NYFE), a subsidiary of the New York Stock Exchange (until 1994) and later the New York Cotton Exchange. At NYFE he developed and managed the marketing program, including institutional and retail sales and promotion. From 1985 to 1990, he was Managing Director of Product Development at NYFE, where he was instrumental in the design and launch of several unique trading vehicles, and from 1980 to 1985 was Director of Financial Surveillance at the New York Futures Clearing Corporation, a subsidiary of NYFE. From 1977 to 1980, Mr. Pombonyo was Assistant Vice President responsible for managing the compliance department at the Coffee, Sugar & Cocoa Exchange. Prior to 1977, he was with the National Association of Securities Dealers. Mr. Pombonyo has an M.B.A. in Corporate Finance from Hofstra University and a B.A. in Economics from C.W. Post College of Long Island University.

Katherine Simmons, Vice President &
Associate General Counsel
Katherine Simmons is Vice President & Associate General Counsel of ISE. From 1996 to 1999, Ms. Simmons was with the law firm of Orrick, Herrington & Sutcliffe LLP, which has been outside counsel to the ISE project since its inception. While at Orrick, she advised broker-dealers and exchanges with respect to a wide variety of regulatory issues, including market structure, best execution and compliance-related matters. From 1993 to 1996, Ms. Simmons was with the Office of Market Supervision in the U.S. Securities and Exchange Commission's Division of Market Regulation, where she was involved with market regulation and trading issues. She is a graduate of the University of Maryland School of Law and a member of the American Bar Association.