April 27, 2000

As stipulated in Regulations 2336.01, 2436.01, and 2536.01, the Chicago Board of Trade will add new issues of U.S. Treasury notes to the deliverable grades of the 2-Year, 5-Year, and 10-Year U.S. Treasury Note futures contracts as they are issued. If, during the auction of a 2-year, 5-year, or 10-year note which meets the standards of these regulations, the U.S. Treasury Department re-opens an existing bond or note that does not meet these standards but is indistinguishable from the newly auctioned security (i.e., both issues constitute a single issue), the CBOT will deem both the new and existing issues to meet the delivery standards of the 2-Year, 5-Year, or 10-Year Note futures contracts.

For example, if the Treasury Department re-opens an old 10-year note (e.g., the 6-1/2s of May 2005) at the next 5-year note auction scheduled this May, thus rendering the existing 10-year note indistinguishable from the newly auctioned 5-year note, the Exchange will officially deem both issues to be eligible for delivery into the 5-Year Note futures contract for the June 2000, September 2000, December 2000, and March 2001 expirations.

Questions or comments regarding this notice should be directed to William Lange at (312) 341-7757 of the Office of Investigations and Audits Department or Daniel W. Grombacher at (312) 435-3787 of the Market and Product Development Department.