Van der Moolen Holding (UK) Limited

With effect from the close of business on Friday 29 December 2006 Van Der Moolen Holding UK Ltd ("VDM" or "the firm") will cease using a Model B settlement agreement with Fortis Global Blearing NV. Any outstanding business will continue to be settled through CREST Code 573.

With effect from the start of business on Tuesday 2 January 2007 VDM will commence using a Model A settlement arrangement with Merrill Lynch International using the CREST Code below in bold.

The firm acts in a principal capacity and the firm's membership remains limited to trading in central counterparty securities on the SETS and SETSmm order books only. All other business undertaken by VDM is conducted as a non member.