On February 25, 2004 the following option contract months will be added:

Gold Options: June 2006; December 2006; June 2007; December 2007; June 2008; and December 2008.

Silver Options: July 2006; December 2006; July 2007; December 2007; July 208; and December 2008.

The below approved amendments to COMEX Rule 16.02, “Trading Months of Silver Futures Options” and COMEX Rule 15.02, “Trading Months of Gold Futures Options”, are effective February 25, 2004.

Strikethrough indicates deletions: bold indicates additions.

16.02 - Trading Months of Silver Futures Options

Silver futures options shall be listed for trading on March, May, July, September, and December futures contracts, in accordance with their expiration cycle.

(a) Options which expire in the months of February, April, June, August, and November in the twelve-month period commencing from the current calendar month (the "February expiration cycle") shall be listed for trading for expiration into silver futures contracts in the nearest five of the following months: March, May, July, September and December, respectively. In addition, options which expire in all the first June and first November calendar months during the period commencing eighteen months from the current calendar month shall be listed for trading for expiration into the July and December silver futures contracts, respectively, at such time as after the applicable underlying futures contract is listed for trading.

(b) Options which expire in January, March, May, July, September, October, and December (the "January expiration cycle") shall be listed for trading of the nearest of the following five futures contract delivery months: March, May, July, September and December.

(c) Notwithstanding the provisions of this subsection, if the Board determines that trading in silver futures options will be facilitated thereby, the Board may, by resolution, add additional months that are not currently listed.

15.02 - Trading Months of Gold Futures Options

Gold futures options shall be listed for trading on February, April, June, August, October and December futures contracts, in accordance with their expiration cycle.

(a) Options which expire in the months of January, March, May, July, September and November in the twelve-month period commencing from the current calendar month (the "March expiration cycle") shall be listed for trading for expiration into gold futures contracts in the nearest six of the following months: February, April, June, August, October and December, respectively. In addition, options which expire in all the first May and first November calendar months during the period commencing eighteen months from the current calendar month shall be listed for trading for expiration into the June and December gold futures contracts, respectively, at such time as after the applicable underlying futures contract is listed for trading.

(b) Options which expire in February, April, June, August, October, and December (the "February expiration cycle") shall be listed for trading of the nearest of the following six futures contract delivery months: February, April, June, August, October and December.

(c) Notwithstanding the provisions of this subsection, if the Board determines that trading in gold futures options will be facilitated thereby, the Board may, by resolution, add additional months that are not currently listed.