NYSE Group Inc. today announced that it has signed a definitive agreement to acquire a 5% equity position in the Mumbai-based National Stock Exchange of India Ltd. (NSE).

The exchange will purchase the shares of the NSE for US$115 million in cash from a consortium of selling shareholders, including ICICI Bank Ltd., Industrial Finance Corporation of India Ltd., IL&FS Trust Company Ltd., Punjab National Bank, and General Insurance Corporation of India.

The closing of the transaction is expected to take place during the first quarter of 2007, subject to obtaining certain approvals from various government agencies in India. The 5% stake is the maximum investment permitted by a foreign investor in a stock exchange under the securities laws of India.

“Our investment in India’s National Stock Exchange complements our global growth strategy,” said John Thain, CEO of the NYSE. “The National Stock Exchange shares our global vision. Ravi Narain leads a growth oriented organization with a talented, innovative and proven management team. Through a mutually beneficial partnership, the NSE and NYSE Group, and the future NYSE Euronext, will extend our global reach, strengthen relationships with customers, and advance our competitive position in India and throughout the region.”

“We are pleased to welcome the NYSE Group as an important stakeholder in NSE,” said Ravi Narain, managing director and CEO of the NSE. “In a rapidly integrating world of financial markets, this timely partnership brings together the strengths of institutions from North America , Europe and Asia. This alliance marks a significant milestone for NSE in developing a place for itself in the emerging global scenario.”

Jean-François Théodore, Euronext NV CEO said, “This investment reflects the commitment that NYSE Group and Euronext have already made to develop NYSE Euronext on an international scale. Euronext fully supports this transaction.”

Currently, the New York Stock Exchange lists 10 companies from India whose total global market capitalization is approximately US$76 billion.

Merrill Lynch & Co. acted as financial advisor to NYSE Group, Inc. in connection with the transaction.