EXHIBIT 10.1

                                    AMENDMENT

                                        TO

                              MANAGEMENT AGREEMENT

        WHEREAS,  DEMETER MANAGEMENT  CORPORATION,  a Delaware  corporation (the
"General Partner") on behalf of DEAN WITTER WORLD CURRENCY FUND L.P., a Delaware
limited partnership (the  "Partnership"),  DEAN WITTER REYNOLDS INC., a Delaware
corporation  ("DWR"),  and JOHN W. HENRY & COMPANY,  INC., a Florida corporation
(the "Trading Advisor"), have agreed to amend the Management Agreement, dated as
of June 1, 1995 (the "Management Agreement"), among the Partnership, the General
Partner,  DWR, and the Trading  Advisor,  to change the  management  fee and the
incentive fee payable to the Trading Advisor.

        WHEREAS,  all provisions contained in the Management Agreement remain in
full force and effect and are modified  only to the extent  necessary to provide
for the amendment set forth below.

        NOW, THEREFORE, the parties hereto hereby amend the Management Agreement
as follows:

        1. Section 5(a)(i) of the Management  Agreement shall be deleted and the
following shall be substituted in its stead:

        "(i) A monthly  management fee,  without regard to the  profitability of
the Trading Advisor's trading for the Partnership's account, equal to 1/12 of 2%
of the Net Assets of the  Partnership  (as defined in Section 5(c)) allocated to
the Trading Advisor  calculated as of the end of each calendar month (before any
reallocations  and the  deduction  of any accrued  management  fee,  any accrued
incentive  fee,  and any  redemptions  and  distributions  as of the end of such
month)."

        2. The  quarterly  incentive  fee  percentage  of 17.5%  referred  to in
Section 5(a)(ii) of the Management Agreement is hereby changed to 20%.

        3. The foregoing changes shall take effect as of December 1, 2000.



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        IN WITNESS WHEREOF,  this Amendment to the Management Agreement has been
executed  for and on behalf of the  undersigned  as of the 30th day of November,
2000.

                                          DEAN WITTER WORLD CURRENCY FUND L.P.

                                          By:   Demeter Management Corporation,
                                                General Partner


                                          By:   /s/Robert E. Murray
                                             -----------------------------------
                                                Name:  Robert E. Murray
                                                Title:  President


                                          DEMETER MANAGEMENT CORPORATION


                                          By:   /s/Robert E. Murray
                                             -----------------------------------
                                                Name:  Robert E. Murray
                                                Title:  President



                                          JOHN W. HENRY & COMPANY, INC


                                          By:   /s/D.M. Kozak
                                             ---------------------------------
                                                Name:  David M. Kozak
                                                Title:  Sr. Vice President



DEAN WITTER REYNOLDS INC.
(as to Section 5(a)(i))


By:   /s/Robert E. Murray
   ---------------------------------------
      Name:  Robert E. Murray
      Title:  Senior Vice-President