American Stock Exchange News Release

Options Release
Media Contact: Mary Chung
American Stock Exchange
212-306-1641/mary.chung@amex.com

American Stock Exchange to Trade Options on Three Securities

New York, July 21, 2005 -  The American Stock Exchange (Amex) will launch trading in options on Friday, July 22, 2005 on the Nasdaq Stock Market and New York Stock Exchange listed stocks of:
  • CollaGenex Pharmaceuticals, Inc. (Stock Symbol: CGPI/Option Symbol: CKU)
  • Jefferies Group, Inc. (Symbol: JEF)
  • Toreador Resources Corporation (Stock Symbol: TRGL/Option Symbol: QBK)
CollaGenex Pharmaceuticals, Inc. options will open with position limits of 2,500,000 shares. The options will trade on the March expiration cycle. The specialist will be TANSTAAFL Research & Trading, LLC. CollaGenex Pharmaceuticals, Inc. is a specialty pharmaceutical company that provides medical therapies to the dental market. The Company's Periostat treats periodontal disease by inhibiting the enzymes that destroy periodontal support tissues. CollaGenex markets its product through its own sales force. In addition, the Company markets Denavir, a prescription cold sore medication.

Jefferies Group, Inc. options will open with position limits of 7,500,000 shares. The options will trade on the January expiration cycle. The specialist will be Kellogg Capital Group, LLC. Jefferies Group, Inc., through its subsidiaries, offers a variety of services for institutional investors and growth companies. The Company's subsidiaries comprise a full-service investment bank and institutional securities firm focused on the middle market. Jefferies provides services such as financial advisory, trade execution, research and asset management.

Toreador Resources Corporation options will open with position limits of 5,000,000 shares. The options will trade on the March expiration cycle. The specialist will be Group One Trading LP. Toreador Resources Corporation conducts oil and natural gas exploration, development and production activities. The Company currently owns interests in properties located in Texas, Alabama, Mississippi, Louisiana, Arkansas, Kansas, California, Michigan, New Mexico and Oklahoma. Toreador also holds interests in oil and natural gas properties located in France, Turkey and Trinidad.

For more information on any Amex-listed company, please visit www.amex.com.

About American Stock Exchange

The American Stock Exchange® (Amex®) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 164 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks.