ATLANTA, June 4 /PRNewswire-FirstCall/ -- IntercontinentalExchange, Inc. (NYSE: ICE), the leading electronic energy marketplace and soft commodity exchange, announced that it has entered into a definitive agreement to acquire ChemConnect, Inc.'s commodity trading business. ChemConnect is the leading electronic marketplace for the $150 billion U.S. natural gas liquids (NGLs) and chemicals markets. Utilized by the world's largest producers and consumers of NGLs and chemicals, ChemConnect has established a 10-year track record in expanding the markets for such products and providing hedging opportunities for its market participants through specialized products and services.

ChemConnect's NGL markets include widely-used products such as propane and ethane, while its chemicals business includes commodities such as ethylene, propylene and benzene. ChemConnect will transition its electronic markets to the ICE electronic trading platform where both ICE and ChemConnect customers will benefit from a more comprehensive product offering in a single marketplace. NGL prices are correlated with natural gas and crude oil prices, making these products a natural extension to those products currently offered on the ICE platform.

"This strategic and accretive acquisition builds on ICE's commitment to serving the physical OTC energy markets by increasing access and transparency through electronic trading," said Charles A. Vice, ICE President and Chief Operating Officer. "We are pleased to welcome the ChemConnect team and their diverse customer base. The acquisition of the leading electronic physical NGL and chemicals trading platform is an excellent fit with our leadership in the U.S. physical gas and power markets, as well as our upcoming launch of the Platts Window on ICE for the global physical oil markets."

Formed in 1995 by a group of leading energy and chemical industry participants, ChemConnect is based in Houston, Texas. ICE expects to transition ChemConnect's products and customers to the ICE platform, as well as transition the ChemConnect data business to ICE Data during the same period. The all-cash transaction is expected to be completed by the middle of July, and the terms of the transaction have not been disclosed.

About IntercontinentalExchange

IntercontinentalExchange(R) (NYSE: ICE) operates the leading global, electronic marketplace for trading both futures and OTC energy contracts and the leading soft commodity exchange. ICE's markets offer access to a range of contracts based on crude oil and refined products, natural gas, power and emissions, as well as agricultural commodities including cocoa, coffee, cotton, ethanol, orange juice, wood pulp and sugar, in addition to currency and index futures and options. ICE(R) conducts its energy futures markets through its U.K. regulated London-based subsidiary, ICE Futures, Europe's leading energy exchange. ICE Futures offers liquid markets in the world's leading oil benchmarks, Brent Crude futures and West Texas Intermediate (WTI) Crude futures, trading nearly half of the world's global crude futures by volume of commodity traded. ICE conducts its agricultural commodity futures and options markets through its U.S. regulated subsidiary, the New York Board of Trade(R). For more than a century, the NYBOT(R) has provided global markets for food, fiber and financial products. ICE was added to the Russell 1000(R) Index on June 30, 2006. Headquartered in Atlanta, ICE also has offices in Calgary, Chicago, Houston, London, New York and Singapore. For more information, please visit www.theice.com and www.nybot.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the Company's Securities and Exchange Commission filings, including, but not limited to, the risk factors in the Company's Annual Report on Form 10-K for the year ended December 31, 2006, and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, each as filed with the Securities and Exchange Commission on February 26, 2007 and May 4, 2007, respectively.

SOURCE IntercontinentalExchange