TO:	ALL CLEARING PARTICIPANTS
FROM:	CLIENT SERVICES AND SUPPORT
DATE:	March 1, 2005
SUBJECT:	CCX Spot Margin Change

The following margin interval change is effective with the mid-day calculation on Thursday, March 3, 2005:

Climate Exchange Margin Rate for March Delivery	Margin Interval
Sulfur Dioxide	$1800

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