(CMS-22) SWITCH OF GUARANTEE

Notice No. CMS-22
February 14, 2002

COMMODITY EXCHANGE, INC.

SWITCH OF GUARANTEE

Please be advised that effective immediately, February 14, 2002, Jan Marks
(Jan-4210), James Bennett (BNET-7902), Joseph Salvatore (JSAL-7178),
Alessandro Ruggiero (ALRU-6220) and David Huemer (WORK-4511) will no longer
be guaranteed by Man International, Inc. However, Messrs. Marks, Bennett,
Salvatore, Ruggiero and Huemer will remain members guaranteed by FC Stone,
LLC.

In connection therewith, notification of any claims against the
aforementioned individual arising out of transactions executed on the
Exchange up to the close of business on February 14, 2002, must be submitted
to the Corporate Secretary's Office within the (10) days.

Inquiries regarding the above should be directed to the Member Services
Department at 212-299-2370.