The launch of the new Mutual Offset System �MOS� on-line application will be delayed in an order to ensure that all parties in Chicago and Singapore have completed final testing requirements. The tentative launch date was scheduled for August 24, 2000. The new tentative target date is early September 2000.

Systems Liaison will send out an information update memo in the next few weeks with the new launch date. We apologize for any inconvenience this may cause. If you have questions, please contact Farris Oweimrin at (312)648-4780 or Karen F. McCoy at (312) 930-4524.

Thank you.