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CHICAGO BOARD OPTIONS EXCHANGE INITIATES TRADING IN OPTIONS FOR RIBI COMMON STOCK

          CHICAGO BOARD OPTIONS EXCHANGE INITIATES TRADING
                 IN OPTIONS FOR RIBI COMMON STOCK
    HAMILTON, Mont., Jan. 23 /PRNewswire/ -- The Chicago Board Options Exchange (CBOE) began trading today in Ribi ImmunoChem (NASDAQ: RIBI) common stock options, Ribi ImmunoChem announced.
    The options (CBOE symbol: IBQ) will trade on the January expiration cycle, with introductory expirations in February, March, April and July.  Initial strike prices have been set at 7-1/2, 10 and 12-1/2.
    "We are pleased that the CBOE has added Ribi ImmunoChem to its trading list and with the visibility that comes from being part of one of the world's largest financial marketplaces," said Robert E. Ivy, chief executive officer, president and chairman of Ribi ImmunoChem.
    The CBOE, regulated by the Securities and Exchange Commission, is a pioneer of listed options trading and the world's largest options marketplace.
    Ribi ImmunoChem Research Inc., a biopharmaceutical company founded in 1981, is a leader in the development of immunostimulants for use in preventing and treating human and animal diseases.
    -0-                     1/23/92
    /CONTACT:  Vern D. Child or Jeffrey S. McDowell of Ribi ImmunoChem Research, 406-363-6214/
    (RIBI) CO:  Ribi ImmunoChem Research Inc.; Chicago Board Options Exchange ST:  Montana IN: SU: SC-JH -- SE003 -- 2640 01/23/92 09:08 EST
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Publication:PR Newswire
Date:Jan 23, 1992
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