Enhanced NASDAQ Legal and Compliance Information
Now Featured on NASDAQ.com

• One-Stop Shop for Issuers, Attorneys, and Investment Bankers
• Interpretive Materials and Publications Available On-line for the First Time
• Corporate Governance Reform Proposals Submitted Recently to the SEC Also Posted on New Web pages

New York, N.Y.—-The Nasdaq Stock Market, Inc. (NASDAQ^®) announced today that comprehensive and regularly updated NASDAQ legal, compliance, and listing information is now available on the NASDAQ.com Web site (www.nasdaq.com). Corporate governance reform proposals submitted recently to the U.S. Securities and Exchange Commission (SEC) are also posted and accessible for easy viewing.

The new Web pages are expected to provide substantial assistance to NASDAQ-listed companies, their counsel, investment bankers, and others by providing better access to rules, policies, and staff interpretations.

Information is separated into two sections for easy navigation:

• "Listing with NASDAQ" provides listing guidance with easy-to-download and print .pdf files of current regulatory and listing requirements, fees, listing applications, and forms. Visit this page at www.nasdaq.com/about/listing_information.stm.
• "Legal and Compliance" increases the transparency of NASDAQ and offers frequently asked questions, Marketplace Rules, proposed and recent rule changes, and summaries of recent appellate decisions by the NASDAQ Listing and Hearing Review Council. You can locate this information at www.nasdaq.com/about/LegalCompliance.stm.

The full texts of NASDAQ's new corporate governance reform rule proposals can be found in the "Legal and Compliance" section. These include filings pertaining to shareholder approval of stock option plans, board independence and committees, disclosure of audit opinions with a going concern qualification, disclosure of exemptions by foreign issuers, disclosure of material information, related party transactions, and codes of conduct. In the future, NASDAQ will post further amendments to these rules filings, if any; final copies of rules approved by the SEC; and NASDAQ staff interpretations.

Visitors to the new Web pages are invited to submit suggestions on how they might be improved by sending an email to insidenasdaq@nasdaq.com. Links to these pages will also be available for reporters at the NASDAQ Newsroom, located at www.nasdaq.com/newsroom.

NASDAQ (OTCBB:NDAQ) is the world's largest electronic stock market. With nearly 4,000 companies, NASDAQ lists more companies and trades more shares per day than any other U.S. market. Over the past five years, NASDAQ has outpaced all other U.S. markets in listing IPOs. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, media and biotechnology industries. NASDAQ is a key driver of capital formation. For more information about NASDAQ, visit the NASDAQ Newsroom^SM at www.nasdaq.com/newsroom.