SOURCE: Pacific Exchange Inc.

August 02, 2005 17:46 ET

PCX Holdings Announces Date for Archipelago Vote

SAN FRANCISCO, CA -- (MARKET WIRE) -- August 2, 2005 -- PCX Holdings, Inc. (PCXH), parent company of the Pacific Exchange, Inc. (PCX), today announced that a special meeting for PCXH stockholders will be held on Tuesday, September 13, 2005, in San Francisco, to consider a proposal to approve the merger agreement between PCXH and Archipelago Holdings, Inc. (PCX: AX).

Proxy materials will be mailed to PCXH stockholders later this week or early next week. The merger proposal requires the approval of a majority of the issued and outstanding shares of PCXH common stock, as of the record date of July 29, 2005.

Rule changes in connection with the proposed merger were filed separately with the Securities and Exchange Commission. The rule changes will be published by the SEC for public review and comment.

The merger agreement provides for the acquisition of PCX Holdings and its subsidiaries, PCX and PCX Equities, Inc., in an all-cash transaction that was originally announced on January 3, 2005, and subsequently amended on July 22, 2005. Upon completion of the proposed transaction, PCX Holdings will become a wholly owned subsidiary of Archipelago.

On April 20, 2005, Archipelago entered into a definitive agreement with the New York Stock Exchange, Inc., under which the parties agreed to combine their businesses and become wholly owned subsidiaries of NYSE Group, Inc., a newly created, for-profit, publicly traded company.

Forward-Looking Statements

Certain statements in this press release may contain forward-looking statements. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially from those set forth in the statements. There can be no assurance that such expectations will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release. Except for any obligation to disclose material information under the Federal securities laws, PCXH undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date of this press release.

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