June 8, 2004

Use Of Market Mechanisms For Environment Enhancement Is Focus
Of June 11 Talk At UCSD's Graduate School Of International Relations

By Paula Cichocka

Dr. Richard L Sandor, Chairman and Chief Executive Officer of Chicago Climate Exchange, Inc. (CCX), a self-regulatory exchange that administers a voluntary greenhouse gas reduction and trading program for North America, will discuss future markets for the greenhouse gas emissions trading at 4 p.m. on June 11 at the University of California, San Diego Faculty Club. The lecture is free and open to the public.

Sandor has designed revolutionary market mechanisms for market-based environmental protection programs. He is recognized as the “father of financial futures” and described by Barron’s as the “progenitor of banking” and is the founder of the interest rate derivatives markets now traded worldwide as well as catastrophe insurance derivatives. Sandor is also a director of numerous boards including NASDAQ LIFFE Markets, the Intercontinental Exchange, an electronic marketplace for commodity and derivative products, and a member of the design committee of the Dow Jones Sustainability Index.

The Chicago Climate Exchange is a greenhouse gas (GHG) emission reduction and trading pilot program for emission sources and offset projects in the United States, Canada, and Mexico. Projects also include Brazil. CCX® is a self-regulatory, rules based exchange designed and governed by CCX®

Members. These members have made a voluntary, legally binding commitment to reduce their emissions of greenhouse gases by four percent below the average of their 1998-2001 baseline by 2006, the last year of the pilot program.

Established in 1986, UCSD's Graduate School of International Relations and Pacific Studies (IR/PS) is the University of California's only professional school of international affairs and the only graduate school in the United States to focus exclusively on the Pacific Rim. More information on the graduate school and its faculty can be found at http://www-irps.ucsd.edu.

Media Contact: Paula Cichocka, (858) 534-1465