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CBOE APPOINTS LEON T. KENDALL AS PUBLIC DIRECTOR

 CBOE APPOINTS LEON T. KENDALL AS PUBLIC DIRECTOR
 CHICAGO, Jan. 13 /PRNewswire/ -- Directors of the Chicago Board


Options Exchange (CBOE) recently approved the appointment of Leon T. Kendall, professor of finance and real estate at J.L. Kellogg Graduate School of Management, Northwestern University, as a public director of the exchange.
 Four public directors are included on CBOE's 21-person board of directors. Having been appointed by CBOE Chairman Duke Chapman and approved by the board, Dr. Kendall will serve through the end of 1992. He is filling the remaining term of an unexpired two-year public director appointment vacated by Frederick Moss, who has become full-time chief executive officer of the Cincinnati Stock Exchange.
 Kendall, 63, joined the Kellogg Graduate School of Management faculty in 1988. His teaching responsibilities include the management of financial institutions, urban development and real estate market analysis. In addition to teaching, Kendall's career has incorporated commercial banking, the securities industry, the savings and loan business, mutual funds, insurance and central banking.
 Currently, Kendall serves as a member of the board of directors of Asset Management Funds, a Chicago-based mutual fund corporation; is a member of the Regional Advisory Board (region 3) of the Resolution Trust Corporation; and sits on the boards of two publicly traded companies, Avatar Corp. and Universal Foods.
 In December, 1989, he retired from the Mortgage Guaranty Insurance Corp. (MGIC), where he served as chairman, and as vice chairman of its parent company, MGIC Investment Corp. Additionally, he served as a member of the board of directors of both firms.
 Prior to joining MGIC in 1974, Kendall was president of the Securities Industry Association and its predecessor, the Association of Stock Exchange Firms. Previously, he was vice president and economist for the New York Stock Exchange from 1964 to 1967 and also had served as economist for the U.S. League of Savings Institutions and the Federal Reserve Bank of Atlanta.
 His career also includes service as an advisory board member, Federal Home Loan Mortgage Corp; director, Federal Reserve Bank of Chicago; and president, Mortgage Insurance Companies of America, a trade association.
 Born in New Jersey, Kendall for the past 17 years has lived in Fox Point, Wis., a suburb of Milwaukee.
 In Wisconsin, he is active in government, civic and educational affairs, including membership on the Joint Survey Committee on Retirement Systems and the Retirement Research Committee of the Wisconsin legislature. Also, he served on the Dean's Advisory Council of the Indiana University School of Business and was a member of the Board of Visitors of the University of Wisconsin School of Business.
 Kendall holds a B.S. in Accounting, St. Vincent College; and an M.B.A. in Marketing and a D.B.A. in Business and Economics from Indiana University. Cardinal Stritch College, Milwaukee, awarded him a Doctor of Laws degree in 1988.
 CBOE, regulated by the Securities and Exchange Commission, is the pioneer of listed options and the world's largest options marketplace.
 -0- 1/13/92
 /CONTACT: Patricia Campbell, 312-786-7927, or Bonnie Greenberg, 312-786-7393, both of the Chicago Board Options Exchange/ CO: Chicago Board Options Exchange ST: Illinois IN: SU:


TS -- NY044 -- 9100 01/13/92 12:40 EST
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Date:Jan 13, 1992
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