Effective, Monday, May 21, 2001, the All-Or-None (AON) threshold for British Pound Futures will be reduced from 100 contracts down to 20 contracts. This is a pilot program similar to that which was initiated last year for Swiss Franc Futures. Unless extended by the Board of Directors at either the first Board meeting in July or August 2001, the pilot program will expire at the close of business on Friday, August 24, 2001.

Complete details regarding this program can be found at http://www.members.cme.com, during the week beginning Monday, May 7, 2001. Please note that these details are only posted for one week following Board of Directors� approval.

If you have any questions, please contact Mr. Scott Brusso, Director, Currency Products, at (312) 930-3133, or Mr. Steve Youngren, Associate Director, Financial Product Development, at (312) 930-4583. Thank you.