NYBOT To Waive Exchange Fees

The New York Board of Trade (NYBOT®) announced today that its Board of Governors has determined to waive exchange fees on futures and option contracts executed on behalf of members' and member firms' proprietary accounts. The fee waiver will commence on Monday, November 18, 2002 and remain in effect through Tuesday, December 31, 2002.

Accordingly, clearing members will not be required to collect and pay such fees to NYBOT.

NYBOT Members should contact their clearing members to ensure the proper handling of their accounts with respect to this waiver.

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.