Events

Majestic Conversations with David Krell, CEO of ISE

Majestic Research would like to invite you to meet David Krell, President, CEO, and
Founder of the International Securities Exchange (ISE). Mr. Krell is one of the foremost
experts in options market structure.

Among the topics we will explore:
1. Options market structure and upcoming changes
2. Decimalization of the options markets

When: May 04, 2007

Where: New York City, NY

Majestic Research, 1270 Ave. of the Americas (between 50th and 51st),
Ste. 1900, NY, NY 10020. Phone: 212-375-2529

RSVP:

Kathryn Doyle, at 646.442.6094 or kathryn.doyle@majesticresearch.com

Industry Experts Attending:

David Krell
Founder and President and CEO, International Securities Exchange (ISE)

International Securities Exchange (ISE) was founded by its President and CEO David Krell.
From 1997 to 1998, he was Chairman and Co-Founder of K-Squared Research, LLC, a fi nancial
services consulting fi rm. From 1984 to 1997, Mr. Krell was Vice President, Options and Index
Products, of the New York Stock Exchange, where he managed marketing, systems, and new
product introductions for the division. From 1981 to 1984, Mr. Krell was First Vice President at
the Chicago Board Options Exchange, responsible for the management and operation of the
Marketing and Sales Division. Mr. Krell was also a Vice President of Merrill Lynch from 1978 to
1981 and founded its Managed Options Service.

Mr. Krell is active in numerous industry groups. He was a Director on the Board of the
International Federation of Technical Analysts, a president of the Market Technicians Association,
and a Director on the Board of The Options Clearing Corporation.

Mr. Krell formerly was an Adjunct Professor at Rutgers University Graduate School of
Management and at the Graduate School of Baruch College. He has taught, coordinated, and
directed numerous seminars and workshops at the New York Institute of Finance.

Majestic Research Representatives:

Doug Atkin
President and CEO, Majestic Research

Previously President and CEO of Instinet Group, Doug spent 17 years helping to shape the
industry; he led a consortium of nine global brokerage fi rms that took a majority stake in the
virt-x stock exchange and currently serves on the Board of Directors of Starmine and WR
Hambrecht.