(CMS-33) SWITCH OF GUARANTEE

Notice No. CMS-33
March 19, 2002

COMMODITY EXCHANGE, INC.

SWITCH OF GUARANTEE

Please be advised that effective with the close of business, March 19, 2002,
Lawrence Conway (CON-7536), Thomas Coughlin (TC-7387), Robert Fink
(FNK-7026), William Flahive (WF-7952), Eric Goldfine (ERGO-766), Roy Haya
(JETS-6245) Alexander Marks (PARI-6235) Michael Mauro (MICL-750), Stanley
Meierfeld (STAN-675), William Meierfeld (FOUR-6370), John Moore (MOR-244),
Gerard Pollino (POLL-7880), Anthony Ribeiro (RIB-7323) and Brian Wills
(BRIN-7697) will no longer be guaranteed by Man International, Inc.
However, Messrs. Conway, Coughlin, Fink, Flahive, Goldfine, Haya, Marks,
Mauro, S. Meierfeld, W. Meierfeld, Moore, Pollino, Ribeiro and Wills 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 March 19, 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.