Notice No.
MS-80 December 19, 2001  COMMODITY EXCHANGE, INC.  SWITCH OF GUARANTEE   Please be advised that effective with the open of business, December 18, 2001, Brian Beatty (BEA-7611) will no longer be guaranteed by F.C.
Stone, L.L.C.
However, Mr. Beatty will remain a member guaranteed by Spear, Leeds, & Kellogg.
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 December 17, 2001, must be submitted to the Corporate Secretary's Office within (10) days of this notice.

(MS-80) SWITCH OF GUARANTEE
Notice No.
MS-<NUMBER> December <NUMBER>, <NUMBER> COMMODITY EXCHANGE, INC. SWITCH OF GUARANTEE Please be advised that effective with the open of business, December <NUMBER>, <NUMBER>, Brian Beatty (BEA-<NUMBER>) will no longer be guaranteed by F.C.
Stone, L.L.C.
However, Mr. Beatty will remain a member guaranteed by Spear, Leeds, & Kellogg.
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 December <NUMBER>, <NUMBER>, must be submitted to the Corporate Secretary's Office within (<NUMBER>) days of this notice.
exchange switch guarantee advised open business commodity kellogg connection therewith december beatty remain member spear leeds arising transactions executed