Subject: [NEXTEL-1] PHLX TO BEGIN TRADING OPTIONS ON NEXTEL COMMUNICATIONS OCT. 31

From: Marcel <[email-masked]>
Date: Wed, 30 Oct 2002 22:53:32 -0500

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PHLX TO BEGIN TRADING OPTIONS ON NEXTEL COMMUNICATIONS OCT. 31

(The following is a reformatted version of a press release issued by
Philadelphia Stock Exchange and received via electronic mail. The release was
confirmed by the sender.)

PHILADELPHIA STOCK EXCHANGE TO BEGIN TRADING OPTIONS ON NEXTEL COMMUNICATIONS

(PHILADELPHIA) October 30, 2002 - The Philadelphia Stock Exchange (PHLX)
announced today that it will begin trading options on Nextel Communications on
Thursday, October 31.

Nextel Communications (option/stock symbol: FQC/NXTL) was allocated to
Timber Hill LLC. The firm will offer automatic executions up to 75 contracts for
all orders routed through AUTOM, the PHLX's automatic execution system for
equity and sectors index options. Nextel Communications will trade on the
February expiration cycle with initial expiration months of November, December,
January and February. Position and exercise limits have been set at 75,000
contracts. Initial strike prices will be 2.5, 5 and 7.5.

The Philadelphia Stock Exchange was founded in 1790. The PHLX trades nearly
2,100 stocks, over 1,200 equity options, 12 sectors index options and currency
options. For more information about the PHLX and its products, visit
www.phlx.com.

CONTACT:
Barbara Sorid
215-496-5200

(fb)PN

-END-

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