Trading Platform:

• FLEX® trades are negotiated between counterparties on a bilateral basis. Agreed trades are presented to LIFFE for verification and registration.

Exchange Delivery Settlement Price: For contracts with a third Friday Last Trading Day of the delivery month, the EDSP is the value of the FTSE 100 Index calculated by FTSE International with reference to the outcome of the EDSP intra-day auction at the London Stock Exchange carried out on the Last Trading Day.

For contracts with a Last Trading Day other than the third Friday of the delivery month, the EDSP is the end of day official closing level of the FTSE 100 Index as determined by FTSE International.

Contract Standard: Cash settlement based on the Exchange Delivery Settlement Price (EDSP).

Exercise Price Intervals: Agreed by the parties to the contract. A FLEX® Option contract may not be made with an exercise price and expiry date which are the same as the exercise price and Last Trading Day of an existing series of the standard FTSE 100 Index Option (European-Style Exercise).

Option Premium: Payable by the buyer in full on the business day following a transaction.

Novation: If a standard FTSE 100 Index Option (Europe-Style Exercise) series is made available for trading with an exercise price and Last Trading Day which are the same as the exercise price and expiry date of an existing FLEX® Option contract, then the contract shall be replaced by novation by a standard FTSE 100 Index Option (European-Style Exercise) contract.

Unless otherwise indicated, all times are London times.

FLEX® is a registered trademark of the Chicago Board Options Exchange Inc. and has been licensed for use by LIFFE Administration and Management.