CCFE to List IFEX Florida and US Gulf Coast Tropical Wind Event Linked Futures (‘ELFs’)

PRESS RELEASE
July 10 2008

CCFE to List IFEX Florida and US Gulf Coast Tropical Wind Event Linked Futures (‘ELFs’)

IFEX is pleased to announce that the Chicago Climate Futures Exchange (‘CCFE’) will list IFEX Florida and US Gulf Coast Tropical Wind Event Linked Futures on July 11 2008
Currently the Chicago Climate Futures Exchange (CCFE) lists First and Second Event US Tropical Wind Event Linked Futures for the 2008 and 2009 loss periods for $10bn, $20bn, $30bn, $40bn and $50bn Loss Trigger Levels. CCFE will now also list First Event Tropical Wind ELFs for Florida and US Gulf Coast for the same Loss Trigger Levels. Contracts will be listed for the calendar 2008 and 2009 risk periods.

Florida and US Gulf Coast ELF Contracts
The new First Event ELF contracts cover insured losses in: (1) the state of Florida; and, (2) the Gulf Coast which includes the states of Mississippi, Alabama, Louisiana, and Texas. Each contract will respond to insured loses as calculated by Property Claims Services caused by tropical storms and hurricanes.

Neil Eckert, Chairman of IFEX and CEO of Climate Exchange Plc, commented:
"This development is in response to numerous enquiries from market participants and is part of our strategy to roll out additional regional contracts and look to new perils such as winter storm, tornado and earthquake. We are also delighted with the increasing number of traders as we approach the wind season."