The following margin intervals and spread credit rates are effective with the mid-day calculation on Monday, February 9, 2004:

Eurex US Margin Rates	Interval
US Treasury Bonds	$1800
10-Year Treasury Notes	$1300
5-Year Treasury Notes	$850
2-Year Treasury Notes	$600

Eurex US Inter-Commodity Spread Credit Rates	Spread Margin %	Spread Savings %
US Treasury Bonds vs 10-Year Treasury Notes (1:1)	25%	75%
US Treasury Bonds vs 10-Year Treasury Notes (1:2)	20%	80%
US Treasury Bonds vs 5-Year Treasury Notes (2:5)	25%	75%
US Treasury Bonds vs 5-Year Treasury Notes (1:1)	40%	60%
US Treasury Bonds vs 2-Year Treasury Notes (1:3)	30%	70%
10-Year Treasury Notes vs 5-Year Treasury Notes (2:3)	15%	85%
10-Year Treasury Notes vs 5-Year Treasury Notes (1:1)	20%	80%
10-Year Treasury Notes vs 2-Year Treasury Notes (2:3)	25%	75%
10-Year Treasury Notes vs 2-Year Treasury Notes (1:1)	40%	60%
5-Year Treasury Notes vs 2-Year Treasury Notes (1:1)	20%	80%

Should you have any questions, please call or e-mail one of the following Client Services and Support Representatives:

John Compall		john.compall@clearingcorp.com
Marc MacQuarrie	786-5732	marc.macquarrie@clearingcorp.com
Molly McMahon	786-5731	molly.mcmahon@clearingcorp.com
Jill Turner	786-5718	jill.turner@clearingcorp.com
Thomas Andrews	Director	thomas.andrews@clearingcorp.com
Client Services and Support E-Mail Address		css@clearingcorp.com
Clearing Corporation Web Site		http://www.clearingcorp.com