Archived CBOE, CBSX, & CFE Press Releases

FOR IMMEDIATE RELEASE


CBOE TO BEGIN PUBLISHING NEW CBOE VOLATILITY INDEX (VIX) TERM STRUCTURE DATA

CHICAGO, March 28, 2008 - The Chicago Board Options Exchange (CBOE) announced today that beginning on Monday, March 31, 2008, the Exchange will be publishing CBOE Volatility Index (VIX) Term Structure data.The information will be disseminated through CBOE's website, with the data set updated daily after the close of trading.In addition, daily historical values for the VIX Term Structure dating back to 1992 will also be available.

During 2007, trading activity in VIX options at CBOE totaled more than 23 million contracts traded, up 363% over the previous year; while trading in VIX futures increased 141% over 2006, as volume topped one million contracts traded for the first time ever at the CBOE Futures Exchange (CFE).Reflecting the volume growth in VIX options and futures, CBOE has seen increasing demand from investors seeking additional VIX-based calculations.The VIX Term Structure is one such formulation.

Analogous to calculating an implied volatility for S&P 500 Index (SPX) options by expiration, the VIX Term Structure is created by using the VIX methodology to calculate an index level for each SPX expiration currently traded.This new data service will provide useful comparisons between SPX options prices and the prices of options and futures based on the VIX Index.

For a complete overview of VIX Term Structure, including details on the construction and historical behavior of Term Structure values, see www.cboe.com/micro/vix/vixtermstructure.pdf.

CBOE, the largest U.S. options marketplace and creator of listed options, is regulated by the Securities and Exchange Commission (SEC).For additional information about the CBOE and its products, access the CBOE website at www.cboe.com.

CBOE Contact:
Gary Compton
(312) 786-7612
comptong@cboe.com



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This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. 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.

In connection with the proposed restructuring transaction, CBOE Holdings, Inc. ("CBOE Holdings") has filed certain relevant materials with the United States Securities and Exchange Commission (SEC), including a registration statement on Form S-4. Members are encouraged to read the registration statement, including the proxy statement/prospectus that are a part of the registration statement, because it contains important information about the proposed transaction. Members are able to obtain a free copy of the proxy statement/prospectus, as well as the other filings containing information about CBOE Holdings and the Chicago Board Options Exchange, Incorporated ("CBOE"), without charge, at the SEC's Web site, http://www.sec.gov/, and the companies' website, www.cboe.com. In addition, CBOE members may obtain free copies of the proxy statement/prospectus and other documents filed by CBOE Holdings or the CBOE from CBOE Holdings by directing a request to the Office of the Secretary, CBOE Holdings, Inc., 400 South LaSalle Street, Chicago, Illinois 60605.

CBOE Holdings, the CBOE and their respective directors, executive officers and other employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information about the directors and executive officers of CBOE Holdings and of the CBOE is available in the prospectus/proxy statement.