Secondary Equity Offering by Leading Electronic Energy Exchange

July 21, 2006

Cleary Gottlieb was counsel to the underwriters, led by Goldman Sachs and Morgan Stanley, in the secondary equity offering of IntercontinentalExchange, Inc. (ICE) on July 21. Shares were offered by the selling shareholders for an aggregate offering of approximately $480 million. ICE went public in November of 2005 in a transaction where Cleary Gottlieb also served as underwriters’ counsel.

ICE operates the leading electronic global futures and over the counter marketplace for trading a broad array of energy products. ICE offers a range of contracts based on crude oil and refined products, natural gas, power and emissions. ICE also offers a range of risk management and trading support services, including customized energy market data offerings through its ICE Data business unit and electronic trade confirmations.