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For Immediate Release
March 2, 2007

For more information contact:
Larry Dyekman (312) 781-1372,
Karen Wuertz (312) 781-1335,

National Futures Association announces Board of Directors election results

March 2, Chicago - The Board of Directors of National Futures Association (NFA) reelected Michael R. Schaefer, managing director at Citigroup Global Markets Inc., to serve a one-year term as chairman at their meeting on February 15. The Board also reelected W. Robert Felker, chairman of J.P. Morgan Futures Inc., for a one-year term as vice-chairman.

In addition, the Board reelected the following individuals to serve two year terms as public directors: Thomas W. Ewing, of counsel at Davis & Harris, LLP; and Mr. Silas Keehn, past president of the Federal Reserve Bank of Chicago.

The Board also elected the following individuals to serve one-year terms on NFA's Executive Committee: Jeffrey C. Borchardt, Kansas Board of Trade; Bruce L. Cleland, Campbell and Company; George E. Crapple, The Millburn Corporation; W. Robert Felker, J.P. Morgan Futures Inc.; Paul J. Georgy, Allendale Inc.; Douglas O. Kitchen, Rosenthal Collins Group LLC; Todd E. Petzel, Azimuth Trust Management, LLC; and John F. Sandner, Chicago Mercantile Exchange. Mr. Schaefer and NFA President Daniel J. Roth also serve on the Executive Committee.

Finally, Craig L. Caudle, chief executive officer of Liberty Funds Group, Inc., was elected by the Commodity Pool Operator and Commodity Trading Advisor representatives to serve on the Board of Directors.

NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.

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