NASDAQ Notes New Ownership Structure for Agency

January 4, 2005

The Nasdaq Stock Market Inc. has completed the acquisition of a 50 percent ownership interest in The NASDAQ Insurance Agency from a wholly-owned subsidiary of American International Group Inc., making
The NASDAQ Insurance Agency a wholly owned subsidiary of The NASDAQ Stock Market.

The transaction was effective on Jan. 1, 2005. Purchase price and
terms of the agreement were not disclosed.

The NASDAQ Insurance Agency LLC is a full-service corporate insurance broker specializing in Directors and Officers liability insurance. Formed in 2000, the agency works with current and future NASDAQ-listed companies.

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