Effective Date: Wednesday, December 22, 2004, 2004 (close of business)

Futures Contracts: Propane Futures (PN)

Contract Months: All Months

Rate Change:

NYMEX Division Margin on Propane Futures Contracts

	New	Old
Clearing Member (Customer Maintenance)	$2,000	$1,500
Member Customer	$2,200	$1,650
Non-Member Customer	$2,700	$2,025

This notice supersedes all previous notices regarding margins for the Propane Futures Contracts.