At its Regular Meeting on July 31, 2001, The Board of Directors approved and took the following actions:

1. Delisting of the Cheese Futures and Options Contracts effective August 2, 2001. Note that the Cheese contract has been inactive since September 1999.
2. Delisting and Discontinuation of the Mid-Size Milk Option Contracts effective August 2, 2001. Note that after October 2002, no new months will be listed for trading.
3. Delisting of all Stocker Cattle Futures and Options Contract months under the CFTC certification procedure. This Delisting will be effective with the publication of the CME Stocker Cattle Index, for the seven days ending July 31, 2001.
4. Six-month extension of the pilot programs for Swiss Franc and British Pound Futures, which lowers the All-Or-None ("AON") threshold from 100 to 20 contracts. These pilot programs will expire at the close of business on Friday, February 8, 2002, unless extended by the Board of Directors at either the first Board meeting held in January or February 2002. Note due to absent Board action on July 31, 2001, the pilot programs would have expired at the close of business day on Friday, August 3, 2001.

If you have any questions, please contact Mr. Charles Piszczor, Senior Market Analyst, Commodity Product Development Department, at (312) 930-4536, or Mr. Paul Peterson, Director, Commodity Product Development Department, at (312) 930-4587.