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On Monday, the Chicago Bulls announced that the team has exercised its fourth-year option for the 2011-12 season for guard Derrick Rose and its third-year options for the 2011-12 season for forwards Taj Gibson and James Johnson. By exercising the respective player options, all three players will be under contract with the Bulls for the 2011-12 season.

Derrick Rose has spent two seasons with the Chicago Bulls and has appeared in 159 games (158 starts) and averaged 18.7 ppg, 6.2 apg, 3.8 rpg, 0.77 spg in 36.9 mpg; he has shot .483 from field and .776 from the line. Rose became the youngest All-Star in Chicago Bulls history in his sophomore year and he was the first Bulls player to be named to the All-Star game since Michael Jordan. Over the past summer, Rose was a starter for 2010 USA Men’s Basketball Team that won the gold medal at the 2010 FIBA World Championships in Istanbul, Turkey.

Gibson (6-9, 225), appeared in all 82 games (70 starts) during his rookie campaign and posted averages of 8.9 ppg, 7.4 rpg, 0.9 apg and 1.27 bpg in 26.8 mpg. He also shot .494 from the floor and .647 from the line. Gibson, the 26th pick in the 2009 NBA Draft, was also selected to the T-Mobile NBA All-Rookie First Team. He led all rookies in rebounds per game, field goal percentage, double-doubles and was second in blocks per game.

The 6-9, 245-pound Johnson played in 65 contests (11 starts) during his rookie season. He averaged 3.9 ppg and 2.0 rpg in 11.6 mpg. Johnson was selected by the Bulls in the first round (16th overall) in the 2009 NBA Draft.