In this thesis, IEEE-802.4 token-bus access method is analyzed under M/G/1 and M/G/m system models. For a single channel token-bus system, the performance/delay characteristic of token-bus access method are analyzed, and then they are compared with the performance/delay characteristics of the CSMA/CD and token-ring access methods. For a multi-channel token-bus system, the performance/delay characteristics under two dispatching algorithms (Ordered Choice and Sub-Grouping Algorithm) are analyzed with the result of the M/G/1 token-bus network. The superiority of the Sub-Grouping Algorithm is pointed out and the procedure of the network management under the dynamic Sub-Grouping Algorithm is presented.