CBOE Elects Ten Individuals To Board Of Directors - Public Directors Robert Birnbaum, Janet Froetscher, R. Eden Martin And Roderick Palmore Re-Elected

The Chicago Board Options Exchange (CBOE) announced that in its annual election held today, Thursday, November 15, the membership elected ten individuals to the CBOE board of directors to fill expired and vacant positions. The new terms will begin on January 1, 2008.

Among the ten individuals elected to the CBOE board of directors, four were incumbent Public Directors re-elected to serve three-year terms: Robert Birnbaum, Janet Froetscher, R. Eden Martin and Roderick Palmore.

Robert Birnbaum is the former President and Chief Operating Officer of the New York Stock Exchange (NYSE) and the former President and Chief Operating Officer of the American Stock Exchange (AMEX).

Janet Froetscher is the President and Chief Executive Officer of the United Way of Metropolitan Chicago.

R. Eden Martin is the President of The Commercial Club of Chicago and is of counsel at the law firm Sidley Austin LLP.

Roderick Palmore is the Executive Vice President, General Counsel and Secretary of Sara Lee Corporation.

Three individuals were elected to the board of directors to serve as Off-Floor (industry) Directors: David Fisher, Anthony McCormick and Kevin Murphy.

David Fisher, Chairman of the Board, optionsXpress, Inc., was newly elected and will serve a two-year term.

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

Kevin Murphy, Managing Director and Head of U.S. Broker Dealer Sales, Citigroup Global Markets, Inc., was re-elected and will serve a three-year term.

Two individuals, Bradley Griffith and John Smollen, were each elected to the board of directors to serve as Floor (industry) Directors. Paul Kepes was elected to the board of directors as an At-Large (industry) Director.

Bradley Griffith, Principal, Specialists DPM, LLC, was re-elected to serve a three-year term. Mr. Griffith also currently serves as CBOE's Vice Chairman, the highest member elected position at the Exchange.

John Smollen, Managing Director, Goldman Sachs & Co., was re-elected and will serve a three-year term.

Paul Kepes, Co-Founder, Senior Partner and Managing Director, Chicago Trading Company (CTC) LLC, was newly elected to a three-year term as an At-Large (industry) Director on the Board.

"I am pleased to welcome our new and returning directors to CBOE's board," said CBOE Chairman and Chief Executive Officer, William J. Brodsky. "CBOE will be well-served by the collective experience these talented business leaders bring to the Exchange. I look forward to working with them as we implement the initiatives that are critical to CBOE's business in 2008 and beyond."

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, six individuals were elected to the Nominating Committee. Richard Fuller, DPM/Partner, G-Bar Limited Partnership, was elected to serve a three-year term as a floor member. Robert Hocking, Vice President, Index Volatility Trading, Goldman Sachs & Co., was elected to a one-year term as a floor member. Aaron Leider, Director, Merrill Lynch Global Markets, Inc., was elected to serve a three-year term as a firm member. Martin O'Connell, President, O'Connell & Piper Associates, Inc., was elected to serve a three-year term as a lessor member. Joseph Perona, President, JPE Options, Inc., was elected to serve a three-year term as a floor member. Pamela Strobel, former Executive Vice President and Chief Administrative Officer, Exelon, was elected to serve a three-year term as a public 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.