CBOE Appoints David J. Lund To Board Of Directors

The Chicago Board Options Exchange (CBOE), the world's largest options exchange, today appointed David J. Lund, Managing Director and Co-Head of Global Equity Linked Products for Merrill Lynch, to its Board of Directors. Mr. Lund's term will begin immediately. He replaces Joseph H. Moglia, who resigned his position from CBOE's Board upon accepting a position as chief executive officer of Ameritrade.

Mr. Lund joined Merrill Lynch in 1996. Prior to assuming his current responsibilities in 1999, David was based in Tokyo as the Head of Equity Markets for Japan. Before joining Merrill Lynch, he spent five years at Citicorp and ten years at Morgan Stanley working in fixed income derivatives.

"We are extremely delighted that David has agreed to take on this responsibility and join our Board," said William J. Brodsky, CBOE chairman and chief executive officer. "In a business environment that is becoming increasingly more global, David will be able to provide a unique, international perspective to our business. I am confident that his expertise will prove invaluable in this regard."

CBOE, the world's largest options marketplace and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, access the CBOE site on the World Wide Web at http://www.cboe.com.