Dubai Mercantile Exchange confirms appointment of Thomas Leaver as CEO of the Exchange

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Thomas Leaver Biography
Thomas Leaver is a leading energy industry executive and brings to the DME more than 30 years of experience in global refining, marketing, crude oil and petroleum product trading, marine transportation and logistics.

Tom began his career with Edgington Oil Company in Long Beach, California, learning the refining business and holding several positions up to manager of crude oil and product sales and supply, domestic and international. From there, he moved into pure trading, first with Apex Oil Company, St. Louis, Missouri, and then, in London, with Finnish national oil company Neste Oy. As Director and then Managing Director, he co-led the establishment and international expansion of one of the most successful energy trading firms in crude oil and petroleum products, in both physical and derivatives markets. Following 10 years with Neste, Tom, as a Director and Vice President, established the OTC derivative business in Europe and Asia for Nations Banc-CRT (now Bank of America). Subsequently, Tom became President of TransCanada International Petroleum Ltd, establishing the global trading arm of TransCanada Pipelines Ltd.

More recently, Tom has acted as an external consultant for McKinsey & Company, advising national and international oil companies in the Middle East, Europe and North America. Prior to accepting his position as Chief Operating Officer of the DME in May 2006, Tom was a Senior Fund Manager of RAB Capital's commodities energy fund in London. Tom is a graduate of the University of California, Berkeley with a BSc. (Hons) in business administration.

About the Dubai Mercantile Exchange
The Dubai Mercantile Exchange Limited (DME), a joint venture between the New York Mercantile Exchange, Inc. (NYMEX), Tatweer, a member of Dubai Holding, and the Oman Investment Fund (OIF), is the premier international energy futures and commodities exchange in the Middle East, providing a financially secure, well-regulated and transparent trading environment.

The Exchange has developed and trades the DME Oman Crude Oil Futures Contract, addressing the growing market need for price discovery of Middle East Sour Crude Oil while simultaneously bridging the time-zone gap between Europe and Asia by providing for the trading of energy futures, options and other products.

The DME is a fully electronic exchange. However, in a unique concept, it also brings together a community of traders who operate from trading hubs and individual trading stations on the Exchange's floor, which is located within the Dubai International Financial Centre (DIFC), the region's leading financial services centre. The DME is authorised and regulated by the Dubai Financial Services Authority (DFSA), a world class, independent regulator, and all trades executed on the Exchange are cleared through, and guaranteed by, NYMEX's AA+ rated clearinghouse which is licensed as a Recognised Body by the DFSA.