Subject: Heating Oil Options revised
From: [email-masked]
To: [email-masked]
Cc: [email-masked]
Date: Thu, 5 Apr 2001 03:08:00 -0700 (PDT)

Mark can you take a look at the two long descriptions for the Heating Oil 
Options products and provide me with any comments. The language for the 
exercise period and  for the Asian option is listed below. The reason that 
"during" was used is because the exercise period for a Dec 01 option is not 
until the end of Dec 01. The calculation of the Index price is the average of 
the daily price for the month of Dec 01. 

"The Exercise Period(s) shall be the last Trading Day of the NYMEX Heating 
Oil Contract during the applicable Determination Period."

"The Index for each Exercise Period shall be the simple arithmetic average of 
the daily settlement prices of the NYMEX Heating Oil Futures Contract for 
each Trading Day during the  applicable Determination Period." 

Attached are the Long Descriptions, one has the changes highlighted and the 
other with the changes accepted(clean version).
Thanks
jr