WCE Sold to ICE

WINNIPEG - Jun 22/07 - SNS -- The Winnipeg Commodity Exchange (WCE), WCE Clearing Corporation (WCECC) and Canadian Climate Exchange Inc. are being sold to IntercontinentalExchange, Inc. (ICE).

Shareholders will be paid CDN $62.08 per common share for a total purchase price of about $40 million.

WCE was the first North American commodity exchange to transition fully to electronic trading in December 2004. WCE expects to transition trading in WCE's markets to the ICE electronic platform and to transition clearing to ICE Clear USsm within the WCECC regulatory framework by year end. The sale to ICE and the transition to their electronic trading system and clearing system provides a permanent trading and clearing solution for WCE contracts going forward.

The transaction is subject to customary conditions, including court approval, an affirmative vote of not less than 2/3 of Holdings' shareholders represented in person or by proxy at a special meeting of shareholders called for the purpose, and approval by the Manitoba Securities Commission. The agreement is terminable in certain circumstances, including if Holdings accepts a superior proposal that ICE fails to match and Holdings pays ICE a termination fee of $1.2 million. Upon the close of the transaction Holdings will be a wholly-owned subsidiary of ICE. Holdings expects to close the transaction in the third quarter of 2007.