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DTCC Announces New Training Certification Program for Customers

New York and Tampa, April 27, 2006 - The Depository Trust & Clearing Corporation (DTCC) today announced the availability of a new DTCC operations certification program for its customers that meets industry needs for standardization of credentials among operations professionals.

"For the first time," said Rosemary Kurtti, vice president, DTCC Customer Training and Information Products, "we have a program that sets competency standards and provides certification for operations professionals at customer firms on key service areas offered by DTCC subsidiaries."

The certification program is being offered through the company's customer training service, DTCC Learning.

"The DTCC Learning certification program dovetails with the industry's push for the standardization of credentials among its operations professionals," Kurtti said. "Plus, the program strengthens customers' continuity planning by providing a map of where DTCC-related skills reside within their organization."

The DTCC Learning certification program will give securities operations professionals a broader understanding of the clearing corporations' and depository's businesses as they relate to the wider financial industry. DTCC customers who successfully complete the certification program will have a thorough grasp of how to use and operate DTCC's systems and the ability to recognize and respond to common and uncommon situations that may arise when processing securities through a DTCC subsidiary.

DTCC Learning is initially offering certification for the depository's Asset Services area, and will follow with a certification program in Clearance and Settlement in the fourth quarter of 2006. Other business lines will also be added as the program expands.

Candidates who successfully complete the credentialing exam receive the "Certified Specialist" designation for the area. This designation will be valid for two years; thereafter, specialists can maintain their certified status by completing continuing education units or successfully passing the latest version of the certification exam. DTCC Learning will provide ongoing information to ensure customers keep current with continuing education offerings and industry developments affecting DTCC products and services.

Specialist Certification in Asset Services
To obtain certification in Asset Services, candidates must pass an 84-question, multiple-choice exam that assesses their expertise in the five areas of Asset Services: Custody, Deposits, Dividends, Reorganization and Withdrawals. The exam was developed by DTCC Learning in conjunction with Thomson Prometrics, a global leader in technology-enabled assessment services, and is designed to test the applicant's knowledge and abilities in using DTCC's systems and services.

Scoring is pass/fail, and to pass, candidates must demonstrate thorough familiarity with the five areas of Asset Services. They will also have to identify problem-resolution resources and have an understanding of how the depository's business relates to the wider financial industry.

DTCC Learning has been training participants, employees and financial industry organizations for more than 15 years. Its standard curricula are designed to give learners a broader understanding of the financial industry, or prepare them for areas of specialization in products and services provided by DTCC's subsidiaries; firms can incorporate whole learning tracks or specific DTCC Learning courses into their own internal certification programs. For more information on DTCC Learning, visit learning.dtcc.com.

About DTCC
The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities and over-the-counter credit and equity derivatives. DTCC's depository also provides custody and asset servicing for more than two million securities issues from the United States and 100 other countries and territories. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. DTCC has operating facilities in multiple locations in the United States and overseas. DTCC's derivatives services are offered through DTCC Deriv/SERV LLC, a wholly owned subsidiary of DTCC. For more information on DTCC, visit www.dtcc.com.