CHICAGO BOARD OF TRADE CHOOSES SYBASE TO TIE STATE-OF-THE-ART TRADING CARD
INTO INFORMATION SYSTEM

CBOT to Bring Trading Floor Transactions On-Line Through Wireless Network
of Hand-Held Devices and SYBASE Client/Server Technology

EMERYVILLE, CA, May 25,1994 -- Sybase, Inc., The Enterprise Client/Server
Company, today announced that the Chicago Board of Trade (CBOT), the
world's leading futures exchange, has chosen SYBASE software to manage
data in a state-of-the-art wireless network. The new network will allow
the 3,000-plus traders and clerks on the exchange floors to post their
transactions on a SYBASE SQL Server 10 database via hand-held, wireless
devices. The system is expected to execute transactions significantly
faster than they are performed today.

With the CBOT information network, a trader will be able to enter a "buy"
or "sell" trade into the CBOT's AUDIT hand-held wireless device (developed
by Synerdyne Corp.), which will send the data via a broad-spectrum signal
to the CBOT's SQL Server 10 database running on a dual-processor Sun
SPARCserver 1000. This database will translate the request into the
required transaction clearing format and forward it over fiber Ethernet to
a second SQL Server database operated by the Board of Trade Clearing Corp.
(BOTCC), a separate organization functioning in association with the CBOT.
Here a SQL Server-based application allows the BOTCC to process and
guarantee trades; matching "buys" and "sells" and then confirming each
trade by sending a message back to the trader's wireless device.

"We are committed to meeting the demands of an ever-expanding global
marketplace with cost-efficient, liquid markets for risk transfer and
asset management," said Dale E. Lorenzen, a director on the Chicago Board
of Trade and chairman of the CBOT's Hand-held Technical Subcommittee. "For
that reason, we have taken the lead in utilizing the latest technology for
a cost-effective solution to manage exchange transactions. SYBASE software
plays a critical role for us, providing the on-line transaction
capabilities, interoperability, and reliability we require for this
mission-critical information network."

"Increasingly, we see new types of clients and new data transmission
technologies stretching the traditional boundaries of the enterprise into
an 'extended enterprise', linking a company's business partners and even
customers directly into the corporate information system," said Stu
Schuster, executive vice president of marketing for Sybase. "The Chicago
Board of Trade's use of SYBASE software, with its open, extensible
architecture, is an exciting example of how client/server computing can
leverage emerging technologies such as wireless communications and
hand-held devices to create this new, extended enterprise.

New CBOT System Automates Trading Function

The emergence of reliable wireless communications has brought the first
practical alternative to the handwritten trade cards used by the CBOT
today, which w ill meet or exceed the U.S. federal guidelines for exchange
transactions that take effect October 1995.

After deciding to base its new system on wireless technology, the Chicago
Board of Trade, in conjunction with the Chicago Mercantile Exchange,
tested several prototypes and chose Synerdyne's hand-held wireless device.
A critical next step was selecting an open database system to support
large transaction volumes - of up to 3,000 trades simultaneously - and
provide interoperability with the wireless devices and existing IBM
mainframe running DB2. According to the CBOT, Sybase was chosen over
competitors for:

* SYBASE SQL Server 10's high, on-line transaction rates in very
  large database environments .
* Advanced interoperability provided by SQL Server 10 and SYBASE
  Open Client and Open Server application programming interfaces.
* High level of SYBASE software reliability.
* Superior price/performance of Sybase's client/server software.

The CBOT information network - using AUDIT wireless devices, SYBASE
software, and a Sun SPARCserver - is expected to be in limited use by some
100 traders by October 1994. The exchange's goal is to have all of its
floor traders on the network by October 1995. In addition to boosting
efficiency, the network will minimize trading errors by eliminating the
need to manually enter the date and time of the trade.

The Chicago Board of Trade

The Chicago Board of Trade was founded in 1848 and is the world's leading
futures exchange. The exchange is a self-governing membership association
that serves as an "umbrella" organization for member firms, providing
markets for its members and overseeing the regulation and cultivation of
those markets. At its inception, the CBOT traded only agricultural
contracts, but in 1975, it expanded to include financial contracts,
including the Treasury bond futures contract. Currently the CBOT has 3,643
members.

Board of Trade Clearing Corporation

The Board of Trade Clearing Corporation is an independent organization that
works in association with the Chicago Board of Trade. Its primary
responsibilities are to provide trade processing systems and serve as a
guarantor of trades executed by clearing members of the CBOT and
Mid-America Commodity Exchange.

Sybase, Inc.

Sybase, Inc. (NASDAQ: SYBS) is one of the fastest growing suppliers of
client/server-based software products and services for on-line,
enterprise-wide applications. Sybase's integrated family of software
includes database servers, tools, connectivity, and systems management
products, providing complete desktop-to-mainframe solutions. Headquartered
in Emeryville, CA, Sybase reported 1993 sales of $427 million, an increase
of 61% over 1992. Sybase markets its products worldwide through its direct
sales force, telesales, distributors, OEMs, VARs, and systems
integrators.

Sybase Inc, 6475 Christie Ave, Emeryville, CA 04608
510-596-3500;  Fax: 510-658-9441

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