CHICAGO & PRINCETON, N.J.--(BUSINESS WIRE)--Feb. 21, 2006--Archipelago Holdings, Inc. (PCX: AX), and Order Execution Services Holdings, Inc. (OES), have entered into a definitive agreement for the sale of Archipelago Brokerage Services, L.L.C. to OES.

Archipelago Holdings, Inc., the owner and operator of the Archipelago Exchange(R) (ArcaEx(R)), has operated Archipelago Brokerage Services as an introducing broker providing broker-dealer customer access to ArcaEx for securities traded on ArcaEx. Order Execution Services Holdings is the parent company of Order Execution Services, LLC, a leading independent introducing and agency broker-dealer.

"The sale of the Archipelago brokerage subsidiary was obligated by an order of the Securities and Exchange Commission as a condition to Archipelago's acquisition of the Pacific Exchange, Inc., in September 2005," said Mike Cormack, Archipelago's president.

"We are confident that customers previously served by Archipelago will be well served under the growing umbrella of OES," he said. "As a part of OES, ABS Brokerage Services customers will be the beneficiaries of enhanced connectivity and customer service."

David M. Scheckel, CEO of OES, welcomed Archipelago's customers. "ABS will deliver to its customers a competitive trading platform with competitive pricing, FIX connectivity, new order types and complete anonymity," he said.

"ABS Brokerage Services, like OES, will continue to focus on innovation and attention to customer service. As a result of this acquisition, we will maximize our services to become a one-stop venue offering advanced order routing and connectivity on one competitive low-cost platform," Mr. Scheckel said.

The transaction, which is subject to regulatory approvals, was executed on December 23, 2005 and is expected to close in the first quarter of 2006, whereupon Archipelago Brokerage Services will be renamed ABS Brokerage Services. Terms of the acquisition were not disclosed.

About Archipelago

Archipelago Holdings, Inc. (PCX: AX), operates the Archipelago Exchange (ArcaEx), the first totally open all-electronic stock exchange in the United States. ArcaEx trades all Nasdaq(R)-listed equity securities and exchange listed equity securities, including those listed on the New York Stock Exchange(R) (NYSE(R)), American Stock Exchange(R), (Amex(R)) and ArcaEx. In April 2005, the NYSE and Archipelago announced that they have entered a definitive merger agreement that will lead to the combined entity, NYSE Group, Inc. In addition to offering core execution services, ArcaEx provides corporate clients with listing services and innovative data products. In September 2005, Archipelago acquired PCX Holdings, Inc., parent company of the Pacific Exchange and PCX Equities, Inc. allowing Archipelago to bring together the all-electronic trading of equity securities and options products thereby expanding and diversifying Archipelago's business lines. For more information please visit http://www.archipelago.com.

About Order Execution Services (OES)

Order Execution Services Holdings, Inc. (OES), through its wholly-owned technology and broker-dealer subsidiaries, provides seamless electronic market connectivity, liquidity access and rapid executions by linking broker-dealers, trading systems, exchanges and market centers. As an innovative securities industry leader, OES specializes in smart-order routing, Reg. NMS compliance tools, sponsored market access, agency execution and private inter-market linkages. OES was formed in 2002 by the management buyout of the Herzog-listed trading division from Merrill Lynch. Closely-held, OES is headquartered in Princeton N.J., with offices in Chicago, Los Angeles, San Francisco, Boston and Philadelphia. For information, visit www.tradeoes.com

This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.

All trademarks are properties of their respective owners.

2006 Order Execution Services Holdings Inc. - All Rights Reserved

CONTACT:
Order Execution Services
David M. Scheckel, 609-430-0100
dscheckel@tradeoes.com
or
Archipelago Holdings, Inc.
Margaret Nagle, 312-442-7083
margaret@archipelago.com
or
The Kaminer Group
David A. Kaminer, 914-684-1934
dkaminer@kamgrp.com


SOURCE:
Order Execution Services