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News

OILspace Adds Dubai Mercantile Exchange's Oman Crude Oil Futures Contract To OILwatch
London, July 26, 2007

London, July 26, 2007 -- OILspace, www.oilspace.com, a leading provider of real-time, on-demand energy trading, supply chain management and market information applications, today announced that the Oman Crude Oil Futures Contract traded on the Dubai Mercantile Exchange Limited (DME) is now available in its market data portal, OILwatch. The DME's first and only physically delivered Oman Crude Oil Futures Contract is set to become the new global benchmark for pricing of Middle East sour crude oil.

For a complimentary two-week trial of OILwatch which includes the new DME futures contracts email moreinfo@oilspace.com or visit http://www.oilspace.com/eng/forms/ow_trial07.htm.

Widely used by leading global energy traders, oil companies, brokerage houses, and financial institutions on desktops, PDAs and BlackBerry devices, OILwatch is a powerful single-source of business intelligence and decision-support tools. It's the world's first fully web-based energy market system and delivers real-time and historical futures from NYMEX, ICE, Forex, Shanghai Futures and news and pricing benchmarks from leading publishers like Platts, Dow Jones, NGI, Argus, OPIS and BBC.

The new DME contracts are available either as real time or delayed feeds and the price history is maintained also for use with OILwatch tools. Users are also able to chart trends and perform analysis via OILwatch DSCharts and export and track prices through dynamic data exchange in spreadsheets. Coming soon, the DME will be available along side other live price and news feeds which are now available by OILwatch on handheld wireless devices.

Gary King, Chief Executive Officer of the DME, said "The DME is the Middle East's first international energy and commodities exchange that aims to create a new global benchmark for the pricing of Middle East sour crude oil through the development and trading of the Oman Crude Oil Futures Contract. The contract's deliverability provides true price convergence between the cash and physical markets. This is especially advantageous in Asia, which imports more than two thirds of its crude oil from the Middle East and has long sought greater price transparency and better risk management tools."

Kishor Sujanani, OILspace Asia-Pacific Vice President of Sales, emphasizes the importance of providing this new business intelligence: "Our hundreds of subscribers in Asia, and all over the world, will have the opportunity to assess this new contract in their trading operations. We expect to see significant interest in the Asia Pacific region because two thirds of Middle East exports are to the region. It's important that we continue to ensure new sources and trading tools are introduced to our customers as they come online, and that we continue to deliver and meet the needs of the market."

For more information, visit the DME website at http://www.dubaimerc.com/omancontract.html.

About OILspace:
OILspace is a leading global provider of real-time on-demand, web-based applications for oil, gas and petrochemical marketing and supply operations. Launched in 1999, OILspace solutions now run through over 400 companies of all sizes and roles within the energy supply chain. OILspace has a proven track record for delivering scalable solutions that produce measurable returns-on-investment (ROI). Other OILspace applications include: ASPect Office, a suite of integrated front and mid-office applications that solves trading, risk, inventory and logistics challenges and links operations, processes and data across multiple offices and assets.

About the DME:
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 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 will 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 will be cleared through, and guaranteed by, NYMEX's AA+ rated clearinghouse which is licensed as a Recognised Body by the DFSA.

OILspace Global
Brigette Gebhard
bgebhard@oilspace.com
+1 732 797 0046

OILspace Asia-PAC
Kishor Sujanani
ksujanani@oilspace.com
+86 21 6122 1075