We analyze in this paper the performance of Token Ring Protocols with constraints on the cycle times. Each stations may have a different cycle time constraint, and a different number of buffers. We consider two types of service discipline in the different stations: (i) the 1-limited case, xhare at most one packet may be transmitted from each queue at each visit of the token and (ii) the exhaustive service discipline where in each queue, packets are transmitted till either the queue empties or the cycle time constraint in that queue is exceeded. The system we analyze approximates both the FDDI protocol (Fiber Distributed Data Interface) and the IEEE 802.4 Token Bus Standard. The technique of the analysis is based on the power-series expansions of the state probabilities as functions of the load of the system, a method introduced by Blanc [3] for analyzing multi dimensional queuing systems. We obtain the expected throughput and delay in every station, as well as the first two moments of the queues' length.