Grainnet

Chicago, IL—CME Group Inc. (NYSE: CME)(NASDAQ: CME) reported April 23 total revenues increased 88 percent to $625 million and net income increased 118 percent to $284 million for first-quarter 2008 compared with first-quarter 2007.

Diluted earnings per share rose 42 percent to $5.25.

These GAAP results reflect the operations of both Chicago Mercantile Exchange (CME) and Board of Trade of the City of Chicago (CBOT) and include: $8.7 million of CBOT merger-related operating expenses consisting of restructuring charges, integration and legal costs, and the acceleration of depreciation related to CBOT data centers; $8.4 million of transaction costs related to the definitive cross-equity agreement with the Brazilian Mercantile & Futures Exchange (BM&F); $3.8 million related to the acquisition of Credit Market Analysis Limited (CMA), which was closed during the first quarter; and an $8.4 million reduction to non-operating expenses associated with the guarantee for holders of the Chicago Board Options Exchange (CBOE) exercise right privilege (ERP).

In addition, the GAAP and pro forma non-GAAP results include a tax benefit of $38.6 million due to a change in Illinois state tax treatment for apportionment of revenues sourced within the state. The GAAP results for 2007 reflect the operations of CME only.

Pro forma non-GAAP diluted earnings per share in the first quarter were $5.39, a 60 percent increase versus first-quarter 2007.

Excluding the tax benefit mentioned above, pro forma diluted EPS would have been $4.67, a 39 percent increase versus first-quarter 2007.

Pro forma results for first-quarter 2008 exclude the items listed above related to the CBOT merger, BM&F and CMA transactions, and the CBOE ERP guarantee.

Pro forma non-GAAP revenues increased 25 percent to $625 million and net income increased 57 percent to $291 million for first-quarter 2008 compared with first-quarter 2007.

The pro forma comparative results for 2007 reflect the operating results of both CME and CBOT as if they were combined. Pro forma measures do not replace and are not a substitute for GAAP financial results.

They are provided to improve overall understanding of current financial performance and to provide a meaningful comparison with prior periods.

A full reconciliation of these pro forma results is included in the attached tables.

"During what was a challenging environment for many financial services companies, CME Group achieved volume growth of 32 percent in the first quarter, reflecting strength from all product areas," said CME Group Executive Chairman Terry Duffy.

"This performance illustrates the benefits of the exchange model for managing risks in diverse global markets.

"We saw healthy trading activity from algorithmic oriented firms, hedge funds, and proprietary trading desks of investment banks, and from both members and non-member customers of CME Group.

"These users are attracted to the significant liquidity provided by all our product segments, coupled with the safety and soundness of our marketplace."

"In addition to seeing strong first-quarter activity in our core business, we also laid the groundwork for future growth opportunities," said CME Chief Executive Officer Craig Donohue.

"We are on track to deliver the synergies projected from the CME/CBOT merger, which will enable us to operate more efficiently and effectively.

"We integrated e-CBOT interest rate, equity and agricultural products onto the CME Globex electronic platform, and implemented significant speed improvements that cut processing times in half.

"Further, as part of our global growth strategy, we completed our first-ever equity swap and strategic partnership with BM&F, the world's fourth largest futures exchange, to enhance our long-term growth opportunities in Latin America, and signed a definitive agreement to purchase NYMEX to provide new trading opportunities for customers around the world."

For more information, call 312-466-4613.

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