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Nymex To Change Margin Rates For Some Natural Gas Basis Contracts

Date 04/02/2003

The New York Mercantile Exchange, Inc., will change the margins on some of its NYMEX Division natural gas basis contracts as of the close of business February 4.

Margins for the following contracts will change as follows:

The rates for the Alberta gas basis contract will remain the same for March 2003, and be raised for all other months to $200 from $150 for clearing members, to $220 from $165 for members, and to $270 from $203 for customers.

The rates for March 2003 of San Juan basis contract will remain the same and be raised to $350 from $250 for clearing members, to $385 from $275 for members, and to $473 from $338 for customers.

The rates for the March 2003 Transco Zone 6 basis contract will remain the same and be increased for all other months to $250 from $125 for clearing members, to $275 from $138 for members, and to $338 from $169 for customers for all other months.

The rates on the March 2003 PGE&E Malin basis contract will remain the same and be increased to $275 from $250 for clearing members, to $303 from $275 for members, and to $371 from $338 for customers.

The rates for the March 2003 SUMAS basis contract will remain the same and be raised for all other months to $275 from $200 for clearing members, to $303 from $220 for members, and to $371 from $270 for customers.

The rates for all the months of the Chicago natural gas basis contract will be increased to $175 from $120 for clearing members, to $193 from $132 for members, and to $236 from $162 for customers.

The rates for the March 2003 Houston Ship Channel basis contract will be increased to $150 from $90 for clearing members, and to $165 from $99 for members, and to $203 from $122 for customers. The rates will remain the same for all other months.

The rates for March 2003 Southern California basis contract will be raised to $450 from $350 for clearing members, to $495 from $385 for members, and to $608 from $473 for customers; and be increased for all other months to $300 from $175 for clearing members, to $330 from $193 for members, and to $405 from $237 for customers for all other months.

The rates for the March 2003 Northwest Pipeline, Rockies, basis contract will be increased to $950 from $900 for clearing members, to $1045 from $990 for members, and to $1283 from $1215 for customers; and be raised for all other months to $750 from $400 for clearing members, to $825 from $440 for members, and to $1,013 from $540 for customers.

The rates for March 2003 Panhandle basis contract will increase to $150 from $100 for clearing members, to $165 from $110 for members, and to $203 from $135 for customers; and remain the same for all other months.

The rates for the March 2003 Permian basis contract will remain the same, and be increased for all other months to $175 from $125 for clearing members, to $193 from $138 for members, and to $236 from $169 for customers.

The rates for the March 2003 Texas Eastern Zone M-3 basis will be increased to $350 from $250 for clearing members, to $385 from $275 for members, and to $473 from $338 for customers; and remain the same for all other months.

The rates for all months of the PGE&E City Gate natural gas basis contract will be decreased to $450 from $1,000 for clearing members, to $495 from $1,100 for members, and to $608 from $1,350 for customers.

The rates for the March 2003 Natural Gas Pipeline mid-continent basis contract will decreased to $300 from $800 for clearing members, to $330 from $880 for members, and to $405 from $1080 for customers, and will remain the same for all other months.

The rates on the March 2003 Dominion Transmission Inc. Appalachia basis contract will be increased to $150 from $100 for clearing members, to $165 to $110 for members, and to $203 from $135 for customers, and will remain the same for all other months.