Daily Price Limits and Trading Halts: Daily price limits and trading halts of the Value Line® Average Stock Index Futures Contract shall be coordinated with trading halts in the securities markets.

Price Limits: There shall be Price Limits corresponding to a market move of 10% and 20% above or below the previous day's settlement price calculated as provided below.

The 10% and 20% Price Limits shall be determined at the beginning of each calendar quarter, based upon the average settlement price of the index during the calendar month immediately preceding the beginning of such calendar quarter. The resulting value shall be referred to as the Quarterly Value. The Quarterly Value shall be multiplied by the applicable Price Limit, then rounded to the nearest integral multiple of 1.00 index point. For the first quarter of 2008, the Quarterly Value is 2264.19, and the 10% Price Limit is 226.00. The 20% Price Limit would be 453.00

Rising Market Provisions (Market above previous day's settlement price)

During trading times beginning when the primary securities market opens (8:30 a.m. Central time) and continuing until the close of the contract (3:15 p.m. Central time), the 10% Price Limit shall be in effect until either of the two nearest contract months is limit bid at such Price Limit, at which time trading shall be halted for a period of five (5) minutes. The 20% Price Limit shall apply to such reopening and shall be in effect until either of the two nearest contract months is limit bid at such Price Limit, at which time trading shall be halted for a period of five (5) minutes. There shall be no Price Limit above the previous day’s settlement price in effect upon reopening. During trading times other than 8:30 a.m. to 3:15 p.m. Central time, the 10% Price Limit shall apply.

Declining Market Provisions (Market below previous day’s settlement price)

Prior to 1:30 p.m. Central time, the 10% Price Limit shall be in effect until a trading halt has been declared at the primary securities market.

After 1:30 p.m. Central time, if a trading halt has not yet been declared in the primary securities market, the 10% Price Limit shall be in effect until such time as either of the two nearest contract months is limit offered at the 10% Price Limit, at which time trading shall be halted for a period of five (5) minutes. The 20% Price Limit shall apply to such reopening.

If during the time the 10% Price Limit is in effect there is a trading halt declared in the primary securities market, trading shall be halted. Trading shall resume once trading has resumed at the primary securities market following such a trading halt. The 20% Price Limit shall apply to such reopening.

If during the time the 20% Price Limit is in effect there is a trading halt declared in the primary securities market, trading shall be halted. Trading shall resume once trading has resumed at the primary securities market following such a trading halt. The 20% Price Limit shall continue to apply subsequent to such reopening.

Value Line® is a registered mark of Value Line, Inc., a New York corporation that provides financial services and publications. Since 1982, the Kansas City Board of Trade has been licensed to use the Value Line® mark in connection with its efforts to establish futures markets tied to the Value Line® index. The Kansas City Board of Trade and Value Line, Inc. are not affiliated corporate entities.

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