For First Time Ever, A CBOE Seat Sells For $3 Million - Today's New High Is Third Record Seat Sale In Nine Days

The Chicago Board Options Exchange (CBOE) announced that a CBOE seat, or membership, traded for a new all-time high today. This morning, a seat traded for the first time ever at a price of $3,000,000, surpassing the previous high price of $2,900,000 for a CBOE seat, which was set just two days ago on Wednesday, October 31, 2007.

Today's seat sale is the third consecutive record seat sale at CBOE within the last nine days -- $3,000,000 on Friday, November 2; $2,900,000 on Wednesday, October 31; and $2,750,000 on Wednesday, October 24. On the year, a total of 82 seats have now traded in 2007. The record price of $3,000,000 is an increase of 71% from the $1,750,000 price paid at the close of 2006. During 2006, the highest price paid for a CBOE seat was $1,775,000 on December 6. The lowest price paid was $850,000 on January 30, 2006 and a total of 111 seats changed hands during the year.

CBOE's Membership Department facilitates the purchase and sale of seats using an auction method in which bids and offers from interested parties are submitted to the Exchange. When a bid matches an offer, a sale is made.

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.