New Margin Requirements For NYBOT Cotton Market

The New York Board of Trade (NYBOT®) announced today that effective with the opening of business Friday, September 20, 2002 the margin requirements for Cotton No. 2 futures contracts are as follows:

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COTTON (CT)

                        Initial     Maintenance

Spec (Per Contract)    1,000 USD       750 USD

Hedge (Per Contract)     500 USD       500 USD

Spreads                unchanged

Margin rates for all other NYBOT products remain unchanged.

A complete grid of margin rates for all NYBOT products is available on the web site @ www.nybot.com.

The New York Board of Trade (NYBOT) is the parent company of the Coffee, Sugar and Cocoa Exchange, Inc. (CSCE) and the New York Cotton Exchange (NYCE). Through its two exchanges and their subsidiaries and divisions NYBOT offers an expanding range of agricultural, currency and index products. Information about the New York Board of Trade can be found at www.nybot.com.