Cd$ CME letter

This may prove helpful.
---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
11/13/98 12:07 PM ---------------------------
To: Mark - ECT Legal Taylor/HOU/ECT@ECT
cc: Gary Hickerson/HOU/ECT@ECT
Subject: Cd$ CME letter

Mark

Gary has asked me to send you a short description of why we have executed all
those CD contracts at the Chicago Merc
Find enclosed a short explanation note. If you have any questions, feel free
to give me a call at 36750

Harry