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NASDAQ Reports Eurand N.V. Early IPO Trades Canceled Due to Operational Error

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NEW YORK, May 18, 2007 (PRIME NEWSWIRE) -- NASDAQ experienced an issue with the IPO Eurand N.V. (Nasdaq:EURX) on May 17, 2007, which was released for trading by NASDAQ during the positioning window at 10:10 a.m., 10 minutes prior to the official published time of 10:20 a.m. ET. NASDAQ made a decision to break all trades that were executed early in EURX, and worked with other exchanges to break their trades. The NASDAQ IPO Cross process was restarted and operated normally with trading beginning at 11:00 a.m. The root cause of the issue was operational in nature and NASDAQ has implemented procedural changes to resolve the error.

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CONTACT: NASDAQ Media Contact: Bethany Sherman 212-401-8714 Bethany.Sherman@Nasdaq.com

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