Swaps Monitor Research.

We have today published our estimates of the global derivatives market size
at June 30, 2000.

Through our web site, SwapsMonitor.com, you can obtain additional information
about OTC derivatives dealers, including rankings and a database of
outstandings going back to 1994.

As an e-mail subscriber to our research, you will automatically receive all
free research at the same time it is placed on our web site. If you wish to
remove your name from the e-mailing list, please use the Reply feature of
your e-mail application and type the word "Remove" in the subject line.

Regards,

- global_mrkt.pdf
Andrei Osonenko
Research Department