Tuesday Board Meeting

We have not been able to secure video conference facilities for the Board
meeting on Tuesday, Sept. 25. We will proceed with a teleconference. The
information to connect to the call is as follows:

International Number is 1-865 524 4287

U.S. Domestic Number is 800 417 3187

Participants Code is 169 326

The meeting will be more effective if we can gather several Board
members in locations in New York and London. We will host the New York
session at our offices at 600 Fifth Avenue (entrance on 48th Street), 27th
floor. The London session will be at our offices at One New Change, EC4.
Please proceed to the Allen & Overy reception desk at that location and you
will be directed to a conference room.

The meeting will begin promptly at 9:00 am New York time/2:00 pm
London time. Based on responses we expect to have several more Board members
on the phone than are necessary to satisfy quorum requirements, but we do
need you to join us from the beginning of the call.

If you are joining us in person, please arrive at the New York or
London location in advance of the start of the call. If you are connecting
by phone, please do so a few minutes prior to the start of the call. Our
Board members in Asia and Australia are starting this call at 9:00 pm, 10:00
pm or 11:00 pm, depending on their location. We will make every effort to
keep the meeting to an hour and a half.

We will consider the following issues from the original September
agenda:

Filling of the vacancy created by Damian's resignation

Membership applications (Mary will send a separate email with
details on each application)

Relationship with FpML

Market convergence issues

An abbreviated review of the three-year plan

If you need the materials for any of these matters, please contact Cynthia
Richards or me.

I look forward to speaking with you on Tuesday.

Bob