Markit & Creditex Complete General Motors Credit Event Auction as One of Five Auctions...

Markit & Creditex Complete General Motors Credit Event Auction as One of Five
Auctions for Week of 8 June

**38 AUCTIONS COMPLETED TO DATE IN 2009**

LONDON and NEW YORK, June 16 /PRNewswire-FirstCall/ -- During the week of June
8, 2009, Markit and Creditex conducted Credit Event Auctions (CEAs) to
facilitate settlement of credit derivative trades referencing five global
companies, including General Motors. The auctions have been used to settle
transactions in connection with the defaults of 38 companies so far this year
in the U.S. and Europe and are an integral part of efforts by International
Swaps and Derivatives Association (ISDA) to standardize critical elements of
the credit default swap (CDS) market through the "Big Bang Protocol," which
came into force on April 8, 2009.

For General Motors, separate auctions were run to settle credit derivative
contracts referencing both bond obligations (CDS) and loan obligations (LCDS).
To facilitate physical settlement, nearly $1 billion of General Motors bonds
were traded in the CDS auction and just over $100 million of General Motors
loans traded in the LCDS auction. The final prices determined by the auctions
were used by market participants who opted to cash-settle their contracts
according to the ISDA Protocol.

Listed below are the results from each CDS and LCDS auction conducted during
the past week:

Company Name Auction Date Auction Type Region Settlement (%)
------------ ------------ ------------ ------ --------------
HLI Operating
Company 9 June LCDS US 9.5
JSC BTA Bank 10 June CDS Europe 10.25
Georgia Gulf 10 June LCDS US 83
R.H.
Donnelley Corp. 11 June CDS US 4.875
General Motors
Corporation 12 June CDS, LCDS US 12.5, 97.5

CEAs are a transparent, efficient means of determining final recovery rates
for the purpose of settling credit derivative transactions. The CEA process
was launched in 2005 by Markit and Creditex in collaboration with ISDA and
major credit derivative dealers. Since then, Markit and Creditex have
conducted over 64 CEAs, including auctions for credit events such as Lehman
Brothers, Fannie Mae, Freddie Mac and Washington Mutual. The CEA process is
transparent, open to all market participants and allows for either cash or
physical settlement. The process has become an integral part of the CDS market
infrastructure that continues to evolve in response to market events,
regulatory requirements and industry standardization.

For CEA schedules and results, please see www.creditfixings.com.

Notes to Editors:
About Markit
Markit is a financial information services company with more than 1,200
employees in Europe, North America and Asia-Pacific. Over 1,500 financial
institutions use our independent services to manage risk, improve operational
efficiency and meet regulatory requirements. For more information, see
www.markit.com

About Creditex
Creditex is a global market leader and innovator in execution and processing
of credit derivatives. The company operates a hybrid model of voice and
electronic execution, and was the first to successfully launch electronic
trading for CDS in 2004. In addition to its core execution business, Creditex
has two operating subsidiaries, T-Zero and Q-WIXX, which provide additional
electronic processing and execution services in the CDS space. Creditex Group
is a wholly-owned subsidiary of IntercontinentalExchange, Inc. (ICE) (NYSE:
ICE). For more information, see www.creditex.com

SOURCE IntercontinentalExchange, Inc.; Markit

Teresa Chick, Managing Director, Corporate Communications, Markit, +44 20 7260
2094, teresa.chick@markit.com; Sarah Stashak, Director, Investor and Public
Relations, ICE-Creditex, +1-770-857-0340, sarah.stashak@theice.com