ISDA®

INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION

MEDIA ADVISORY

For Immediate Release Friday, December 29, 2006

For More Information Contact: Scott Marra, ISDA New York, 212-901-6013, smarra@isda.org

U.S. Exchange and Market Closings on January 2, 2007

The International Swaps and Derivatives Association, Inc. (“ISDA”) has issued guidance for parties to over-the-counter derivative transactions that are affected by the closing of U.S. exchanges and bond markets on Tuesday, January 2, 2007, in observance of a national day of mourning for former U.S. President Gerald Ford.

The guidance has been posted at the Association's web site: www.isda.org. It covers operation of the following derivative transactions:

· Exercise, Valuation and Expiration of Option Transactions and Observation Days under Variance Swap Transactions under the 2002 ISDA Equity Derivatives Definitions or the 1996 ISDA Equity Derivatives Definitions

· Options, Rate Resets and Swaptions under the 2000 ISDA Definitions

· Commodity Derivative Transactions under the 2005 ISDA Commodity Definitions and the 1993 ISDA Commodity Derivatives Definitions

· Credit Derivative Transactions under the 2003 ISDA Credit Derivatives Definitions

· Payments

ISDA has issued this guidance in the interest of mitigating market risk and the promotion of orderly valuation and settlement of positions by market participants. Parties are not obliged to follow the guidance and may choose alternate means of addressing the event. ISDA encourages firms to establish contact with their clients in advance of January 2.

About ISDA

ISDA, which represents participants in the privately negotiated derivatives industry, is the largest global financial trade association, by number of member firms. ISDA was chartered in 1985, and today has over 750 member institutions from 52 countries on six continents. These members include most of the world's major institutions that deal in privately negotiated derivatives, as well as many of the businesses, governmental entities and other end users that rely on over-the-counter derivatives to manage efficiently the financial market risks inherent in their core economic activities. Information about ISDA and its activities is available on the Association's web site: www.isda.org.

^®ISDA is a registered trademark of the International Swaps & Derivatives Association, Inc.