CHICAGO (February 5, 2003) - Investors interested in learning more about the equity options marketplace are getting help from The Options Industry Council (OIC) with its latest free educational offering - Options University (OU). OU is a significant enhancement to OIC's Web site, www.888options.com.

OU is a comprehensive educational mini site that offers a variety of online options classes, strategy tools and other educational resources. Once students register, they have full access to all the educational tools offered within the University and they can enjoy learning at their own pace, at their own computer.

"We're excited to announce the launch of the Options University. This online service provides investors with an educational experience focused on options. Students will learn about the benefits and risks involved with options trading and how to use this product in their investing portfolio," said Paul Stevens, President, OIC. "We strongly encourage investors and brokers to take advantage of OU's free offerings and join the community of investors who seek to improve their options knowledge."

OU's online courses are divided into three sections, based on students' experience level (s): beginner, intermediate and advanced.

Registered students of OU will have free access to:

• Six interactive classes with quizzes - Classes include the recently launched, Buying Calls course. Buying Puts, Introduction to Spreading, Options in a Bearish Market and Options in a Bullish Market courses will also be introduced this year.
  
• Free options expert support via phone and e-mail - Students have access to phone and/or email support from OIC's Investor Services professionals or they can post questions online and request answers via a phone call at a desired time.
  
• Options strategy overviews and articles - Written by an array of options professionals and options exchange staff, these articles are divided into three strategy types: general, bull market and bear market. Easy to understand images accompany this diverse collection of strategy articles.
  
• Options calculators and glossary - Investors can choose between a basic or advanced calculator, and learn more about options verbiage with OIC's thorough glossary.
  
• Online Options Investigator software - OIC is now offering its interactive and comprehensive software online. The online version includes extensive options information, including a strategy matrix and analyzer. Students can test their positions and chart performance with the Position Simulator or explore in-depth options strategies and test them interactively with the Strategy Explorer.

To access OU, users can register online and receive a password. There is no cost to register.

About OIC

OIC is a non-profit association funded by the American Stock Exchange, Chicago Board Options Exchange, International Securities Exchange, Pacific Exchange, Philadelphia Stock Exchange and The Options Clearing Corporation. OIC's free resources include: The Options Industry Services call center at 1-888-OPTIONS, an educational Web site at www.888options.com, evening seminars throughout the continental United States and Canada, instructional videos and educational literature and software.

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Options are not suitable for all investors. The brochure, Characteristics and Risks (Disclosure Document) is available either in the Free Literature section of OIC's Web site at www.888options.com or at any exchange on which options are traded. Both publications and any further information may also be obtained by contacting 1-888-OPTIONS.

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