News Releases

NEW YORK, March 24, 2006 –The New York Stock Exchange today added the third IPO of the year by a leading restaurant company, and the 14th initial public offering in 2006, when Tim Hortons Inc. (NYSE: THI) began trading on the NYSE. Oakville, Canada-based Tim Hortons raised $671 million in its IPO that opened for trading on the NYSE today.

“We’re delighted to welcome Tim Hortons to our family of listed companies, continuing the NYSE’s success in the IPO market, and, this year, in the restaurants sector in particular,” said NYSE President & Co-Chief Operating Officer Catherine R. Kinney. "We look forward to an outstanding partnership with these companies and their shareholders, and to continue to add the leading companies in this industry to our list.”

Tim Hortons is the third NYSE-based IPO in the restaurants sector this year, following the recent IPOs of Chipotle Mexican Grill, Inc. (NYSE: CMG), which raised $173.3 million at the NYSE on Jan. 25, and Morton’s Restaurant Group, Inc. (NYSE:MRT), which raised $160.9 million on Feb. 9.

Tim Hortons, Canada’s leading coffee and baked goods chain, was founded in 1964 in Hamilton, Ontario.  In 1995, Tim Hortons merged with Dublin, Ohio-based Wendy’s International, Inc., giving new focus and impetus to the expansion of the Tim Hortons concept in the U.S. In March 2006, Wendy’s International Inc. initiated the initial public offering of Tim Hortons. There are 2,607 Tim Hortons restaurants in Canada and 291 in the U.S.

Year-to-date, the 14 IPOs by operating companies on the Exchange, excluding funds, have raised a total of $5.9 billion in proceeds so far.

Last year, IPOs by U.S. domestic companies, excluding funds, raised $21.3 billion, more than two times Nasdaq, and over 90% of qualified IPO dollars. Total IPO proceeds at the NYSE in 2005, including funds, totaled $43.9 billion – more than four times the amount raised on Nasdaq.  In 2005, the Exchange listed 192 new companies, including 46 ETFs.

See the NYSE IPO Showcase.

About NYSE Group, Inc.

NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange).  NYSE Group is a leading provider of securities listing, trading and market data products and services. 

The NYSE is the world’s largest and most liquid cashequities exchange.  The NYSE provides a reliable, orderly, liquid and efficient marketplace where investors buy and sell listed companies’ common stock and other securities.  Our listed operating companies represent a total global market capitalization of over $22.5 trillion.  In January and February 2006, on an average trading day, over 1.8 billion shares, valued at over $69 billion, were traded on the NYSE. 

NYSE Arca is the first open, all-electronic stock exchange in the United States and has a leading position in trading exchange-traded funds and exchange-listed securities.  NYSE Arca is also an exchange for trading equity options.  NYSE Arca’s trading platform links traders to multiple U.S. market centers and provide customers with fast electronic execution and open, direct and anonymous market access.

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Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements are based on NYSE Group’s current expectations and involve risks and uncertainties that could cause NYSE Group’s actual results to differ materially from those set forth in the statements.  There can be no assurance that such expectations will prove to be correct.  Actual results may differ materially from those expressed or implied in the forward-looking statements.  Factors that could cause NYSE Group’s results to differ materially from current expectations include, but are not limited to:  NYSE Group’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Group’s Registration Statement on Form S-4 and periodic reports filed with the U.S. Securities and Exchange Commission.  In addition, these statements are based on a number of assumptions that are subject to change.  Accordingly, actual results may be materially higher or lower than those projected.  The inclusion of such projections herein should not be regarded as a representation by NYSE Group that the projections will prove to be correct. We undertake no obligation to release any revisions to any forward-looking statements.

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