--  Capped-risk, low-cost speculations for fast-frequency traders

    --  Anonymous execution with no risk of counterparty default

    --  Successfully tested for 10 months with institutional traders

    Business Editors

    CHICAGO--(BUSINESS WIRE)--Sept. 29, 2008--Actuarials Holdings LLC
(AH), parent company of Everest OTC Trade Facility and the AE
Clearinghouse, today unveiled a revolutionary "safe" derivative called
the Clipper. Tested by institutional investors in hundreds of
thousands of trades during a 10-month pilot, the Clipper is a precise
antidote for the turbulent market conditions faced by traders today.
The Clipper enables traders to control total risk, highly leverage
their capital, and eliminate counterparty risk.

    "Clippers are the most important financial innovation in 25
years," says Alger "Duke" Chapman, former chairman and CEO of the
Chicago Board Options Exchange, now chairman of the advisory board of
Actuarials Holdings. "Not just because they are crash-proof, but
because they provide unparalleled capital efficiency to speculators,
hedgers, and arbitrageurs. If we had Clippers in the meltdown of 1987,
many traders who went bankrupt would have been saved."

    The Clipper is a "standard manufacture" derivative that
structurally caps a gain or loss from an underlying asset to a "clip
limit" amount. Whether the trader initiates the short or long side,
the trade is automatically filled in a dark-pool exchange. A range of
intraday -- at every quarter-hour and hour - overnight, weekly, and
monthly expirations make Clippers appropriate for almost every trading
style or strategy.

    The Clipper is a "capital multiplier" unlike any other instrument.
For example, an overnight 10-cent Clipper on 100,000 shares of a $20
stock risks a maximum of $10,000 for the buyer and seller. In
contrast, an outright purchase of the stock would risk up to
$2,000,000, making the capital leverage in this example 20:1. The
leverage increases with more expensive underlying assets. With no sale
or purchase of underlyings involved, Clippers cause no impact on
underlying market prices.

    Clippers have no counterparty risk. Margins equal to the
clip-limit amount are deducted from the cash account of each
counterparty at the start of the trade, and cash-settled upon