NYBOT Announces New Margin Requirements For Cocoa Contracts

The New York Board of Trade (NYBOT®) announced today that effective with the opening of business on Monday, November 25, 2002, the new cocoa margin requirements are as follows:

	Initial (USD)	Maintenance (USD)
Spec (Per Contract)	1,540	1,100
Hedge/Member (Per Contract)	1,100	1,100
Spread-Spec	280	200
Spread-Hedge/Member	200	200

Margin rates for all other NYBOT products remain unchanged.

A complete grid of margin rates for all NYBOT products is available on our web page @ 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.