CBOT Appoints Larry G. Gerdes As Public Director

The Chicago Board of Trade (CBOT®) today announced that its Board of Directors has approved the appointment of Mr. Larry G. Gerdes as a non-member Director of the Exchange for a four-year term.

Mr. Gerdes, President/CEO and Chairman of Atlanta-based Transcend Services, Inc. (NASDAQ:TRCR), led the medical transcription company to become the nation’s fourth largest company of its kind.

CBOT Chairman Charles P. Carey said, “Mr. Gerdes’ 30 years of diverse experience in finance, investing, executive leadership, mergers and acquisitions, and community relations will be an invaluable asset to the CBOT Board as the Exchange moves forward in becoming a for-profit company and seeks out new business opportunities to enhance its position as a global financial leader.”

Mr. Gerdes said, “This is an exciting time for the Chicago Board of Trade, and it is an honor to serve on the Board of Directors of this world-class financial institution. I hope my background, which includes not only three decades in the financial and investment sectors but also a lifelong connection to agriculture, will offer new insights and an additional perspective that will aid in the Exchange taking the next step in its development.”

Mr. Gerdes is also a General Partner of Gerdes Huff Investments, an Atlanta-based private investment firm in partnership with Walter Huff, founder of HBO & Company. Since 1983, Mr. Gerdes has served as General Partner of Sand Hill Financial Company, a venture capital partnership located in Menlo Park, California.

In addition, Mr. Gerdes is a major shareholder and President of Friesland Farms, LLC (Walnut, Illinois), which owns and operates eight farms totaling more than 1,100 acres in northern Illinois. Mr. Gerdes and his wife, Ann, were both raised on farms in northern and central Illinois, respectively.

For information on the CBOT and its markets, visit the Exchange Website at www.cbot.com.