CBOE Elects Ten Individuals To Board Of Directors - Public Directors Duane Kullberg, Susan Phillips - Samuel Skinner And Howard Stone Re-Elected

The Chicago Board Options Exchange (CBOE) announced that in its annual election held today, Thursday, November 16, the membership elected ten individuals to the CBOE board of directors to fill expired positions. The new terms will begin on January 1, 2007

Among the ten individuals elected to the CBOE board of directors, four were incumbent Public Directors re-elected to serve three-year terms: Duane Kullberg, Susan Phillips, Samuel Skinner and Howard Stone.

Duane Kullberg was a Managing Partner and former Chief Executive Officer of Arthur Andersen & Co., S.C. from 1980 until 1989.

Susan Phillips is Dean and Professor of Finance of The George Washington University School of Business. She is a former Governor of the Federal Reserve Board and former Chairman of the Commodity Futures Trading Commission (CFTC).

Samuel Skinner is the former Chairman of the Board, USF Corporation, and was the former Chief of Staff and former U.S. Secretary of Transportation under President George H.W. Bush.

Howard Stone was the Senior Managing Director of American Express Tax and Business Services, Inc.

Three individuals were elected to the board of directors to serve as Off-Floor (industry) Directors: Anthony McCormick, Thomas Patrick and Thomas Petrone.

Anthony McCormick, Vice President Equities and Options, Charles Schwab & Co., was newly elected and will serve a one-year term.

Thomas Patrick, Managing Director, Equity Linked Trading, Merrill Lynch & Co., Inc., was re-elected and will serve a three-year term.

Thomas Petrone, Managing Director, Global Equity Derivatives, Citigroup Global Markets, Inc., was also re-elected and will serve a three-year term.

Two individuals were elected to the board of directors to serve as Floor (industry) Directors: Mark Duffy and Paul Jiganti.

Mark Duffy, Managing Member, Cornerstone Trading, LLC and Managing General Partner, Fugue, has been re-elected to serve a three-year term.

Paul Jiganti, Associate Director, Susquehanna Investment Group, was newly elected and will serve a two-year term.

Stuart Kipnes, President, Associated Options, Inc. was re-elected to a three-year term as an At-Large (industry) Director on the Board.

"I welcome our new directors to the Board and am pleased by the re-election of the other directors," said CBOE Chairman and Chief Executive Officer, William J. Brodsky. "CBOE is fortunate to have such an outstanding team of business leaders charting the future course of the Exchange and I look forward to working with them on our 2007 agenda, which will be one of the most significant in our 33-year history."

CBOE's board of directors consists of 22 members, equally balanced between 11 public (independent, non-industry) and 11 industry (member) directors, plus the chairman and chief executive officer of CBOE. CBOE's governance structure also includes a Lead Director ? a public director who acts as a liaison between the Board and Exchange management.CBOE's Governance, Audit and Compensation Committees are each chaired by a public director, and the Regulatory Oversight Committee is composed solely of public directors.

In other election results, four individuals were elected to the Nominating Committee. Pamela Strobel, former Executive Vice President and Chief Administrative Officer, Exelon, was elected to serve a one-year term as a public member. Richard Lund, Managing Member, TRO Trading Group, LLC, was elected to a one-year term as a lessor member. David Miller, Managing Director, Citigroup Global Markets, Inc., was elected to a two-year term as a firm member. Sean Haggerty, Associate Director, Susquehanna Investment Group, was elected to a three-year term as a floor member.

The Nominating Committee is a ten-person committee, comprised of a cross section of the CBOE membership and public representatives, and is charged with nominating candidates for the board of directors and the Nominating Committee.

CBOE, the largest options marketplace in the U.S. and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, visit the CBOE website at: www.cboe.com.

CBOE, the largest options marketplace in the U.S. and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, visit the CBOE website at: www.cboe.com.