CBOT Chairman David Brennan said, "I applaud the CBOT membership for embracing change and coming together in support of this historic initiative. CBOT members have once again demonstrated their commitment to this institution, its future and its legacy. This is a tremendous vote of confidence in the direction our exchange is headed. By reincorporating in Delaware, which will provide us greater flexibility, and modernizing our corporate governance structure, we can take control of our destiny and emerge as the industry's most nimble, proactive and dynamic futures exchange."
Interim President & CEO Dennis Dutterer said, "This is the dawn of a new era for the CBOT. It is with great confidence that our management team will continue to work closely with the Board of Directors and the Implementation Committee to develop the remaining terms of the overall restructuring."
Re-incorporation efforts are being initiated. Reincorporating in Delaware is considered a key step in any CBOT's restructuring plan the CBOT may implement. The CBOT Board of Directors approved the Exchange's overall restructuring strategy on January 19, 2000. Once the remaining terms of the overall restructuring have been developed, a second membership vote will be conducted at a later date.
We urge CBOT members and membership interest holders to read the Registration Statements on Form S-4, including the proxy statement/prospectus contained within the Registration Statements, regarding the CBOT restructuring referred to herein or in connection herewith, when it becomes available, as well as the other documents that the CBOT has filed with or will file with the Securities and Exchange Commission, because they contain or will contain important information. CBOT members and membership interest holders may obtain a free copy of the proxy statement/prospectus, when it becomes available, and other documents filed by the CBOT at the Commission's web site at www.sec.gov, or from the CBOT by directing such request in writing or by telephone to: Board of the Trade of the City of Chicago, 141 W. Jackson Blvd., Chicago, Illinois 60604-2994, Attention: Office of the Secretary, Telephone: (312) 435-3605, Facsimile: (312) 347-3827. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any state in which offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
