CBOE Lists TARGETS On Amgen Inc.

The Chicago Board Options Exchange (CBOE) today (September 28) began trading a new three year issue of Targeted Growth Enhanced Terms Securities (TARGETS®), a hybrid security whose value is linked to Amgen common stock (AMGN). Trading under the symbol TAE, the securities were priced at $10.179687, equal to 1/8th of yesterday's closing price of AMGN. Total proceeds of the offering, which was underwritten by Salomon Smith Barney, amounted to $ 32,066,014. "Today's listing of TAE marks the fourth offering of TARGETS® to be traded on the CBOE," said Nicholas D. Parcharidis, Director of Capital Markets. "Previously the CBOE listed TARGETS® based on Cisco Systems, Lucent Technologies and MCI Worldcom." Holders of TAE will receive a series of fixed payments together with the opportunity for price appreciation up to a maximum of 40 percent. The quarterly cash distributions of $ 0.1271778 per Targets will be payable on each February 15, May 15, August 15, and November 15, in an amount equal to 5% annually. The first such payment to be made on November 15, 1999, however, will be prorated from the date of issue. At maturity, on November 15, 2002 TAE holders will receive the final quarterly cash distribution and an amount equal to the product of (i) the average 10 day price of Amgen common stock prior to maturity multiplied by (ii) an "Exchange Rate". The exchange rate is determined as follows: If the average 10 day price of Amgen common prior to maturity is less than or equal to $114.0125, the Exchange Rate shall be 0.125. If the average 10 day price of Amgen common prior to maturity is greater than $114.0125, the Exchange Rate shall be a fraction, the numerator being $114.0125 times 0.125, and the denominator being the average closing price of Amgen common. TARGETS represent preferred individual beneficial ownership interests in the assets of TARGETS Trust IV, a Delaware business trust. O.T.A. Limited Partnership has been named the Designated Primary Market Maker (DPM) in TAE. Trading hours are 8:30 a.m. to 3:00 p.m. CST. CBOE, the worlds largest options marketplace and pioneer 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.