CHICAGO, June 16 /PRNewswire-FirstCall/ -- The Archipelago Exchange(SM) (ArcaEx(R)), the nation's first totally open, all-electronic stock exchange, today announced that Synagro Technologies, Inc. (SYGR), a national company focused on water and wastewater residuals management services in the United States, has dually listed on ArcaEx, a facility of the Pacific Exchange. In addition to being listed on ArcaEx, Synagro Technologies will continue to be listed on The NASDAQ SmallCap Market(SM).

"Synagro is the fourth dual listing on ArcaEx in 2005 and is a great addition to the roster of Archipelago Exchange-listed companies," said Jerry Putnam, CEO of Archipelago. "ArcaEx provides an ideal listing venue for companies looking to expand their exposure and visibility among a broad range of investors."

"Listing on the nation's first totally open all-electronic stock exchange is an exciting event for us and our shareholders," commented Robert Boucher, President and Chief Executive Officer of Synagro Technologies, Inc. "We believe our dual listing on ArcaEx, an extremely efficient and well-connected exchange, will help us gain exposure and increase recognition across the investment community."

In addition to providing the advantages of electronic trading, ArcaEx enables NYSE-, Amex- and Nasdaq-listed companies and their investors to reap the benefits of ArcaEx's investor focused market structure. ArcaEx operates as an all-electronic auction market, with an open limit order book matching buyers and sellers directly based on simple price and time priority, leveling the playing field for all market participants.

Currently over 230 companies are listed on ArcaEx, a facility of the Pacific Exchange. In addition to its own listings, the exchange trades all NYSE-, Nasdaq- and Amex-listed stocks. Archipelago Holdings, Inc., the parent company of ArcaEx, announced on January 3, 2005 that the company has entered into a definitive agreement to acquire PCX Holdings, Inc., parent company of the Pacific Exchange and PCX Equities, Inc.

About ArcaEx

Archipelago Holdings (PCX: AX) operates The Archipelago Exchange(SM) (ArcaEx(R)) the first totally open all-electronic stock exchange in the United States. ArcaEx trades all Nasdaq-listed equity securities and exchange listed equity securities, including those listed on the New York Stock Exchange(R), American Stock Exchange(R), and Pacific Exchange(R). In addition to offering core execution services, ArcaEx provides corporate clients with listing services and innovative data products. In 2004, Archipelago launched ArcaVision to provide corporate and trading clients with more transparent market data, analytical tools and access to market-wide and ArcaEx specific trading information. Archipelago Holdings completed its initial public offering in August 2004. For more information please visit http://www.arcaex.com.

About Synagro Technologies

Synagro is the largest national company focused on water and wastewater residuals management services in the United States, serving over 600 municipal and industrial water and wastewater accounts in 37 states and the District of Columbia. The Company offers a range of water and wastewater residuals management services, focusing on the beneficial reuse of organic, nonhazardous residuals resulting from the water and wastewater treatment process, including collection and transportation, land application, thermal drying and pelletization, incineration, composting, alkaline stabilization, dewatering, cleanout services, wastewater treatment plant operations and maintenance, product marketing, and related recordkeeping and regulatory reporting services. To learn more about Synagro Technologies Inc. please visit its website at http://www.synagro.com/index.htm

Forward-Looking Statements

Certain statements in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on Archipelago's current expectations and involve risks and uncertainties that could cause Archipelago's 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. Factors that could cause Archipelago's results to differ materially from current expectations include: general economic and business conditions, industry trends, competitive conditions, regulatory developments as well as other risks or factors identified in the Company's filings with the Securities Exchange Commission, including its Report on Form 10-K for the fiscal year ending December 31, 2004 which is available on the Company's website at http://www.archipelago.com. 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, Archipelago 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.

Contact:
Archipelago
Margaret Nagle
312-442-7083
SOURCE Archipelago Holdings
06/16/2005
CONTACT: Margaret Nagle of Archipelago, +1-312-442-7083
/Web site: http://www.archipelago.com
http://www.synagro.com/index.htm /
(AX)
CO: Archipelago Holdings; Synagro Technologies