Document:

June 30, 2006

Campbell & Company, Inc.
 Court Tower Building
 210 West Pennsylvania Avenue
 Suite 770
 Towson, MD 21204

Attn: Ms. Terry Becks

Re:    Management Agreement Renewals

Dear Ms. Becks:

We are writing with respect to your management agreements concerning the commodity pools to which reference is made below (the ‘‘Management Agreements’’). We are extending the term of the Management Agreements through June 30, 2007 and all other provisions of the Management Agreements will remain unchanged.

			
		• 	Smith Barney Potomac Futures Fund L.P.

			
		• 	Smith Barney Diversified Futures Fund L.P.

			
		• 	Smith Barney Diversified Futures Fund L.P. II

			
		• 	Smith Barney Global Markets Futures Fund L.P.

			
		• 	Salomon Smith Barney Global Diversified Futures Fund L.P.

			
		• 	Salomon Smith Barney Diversified 2000 Futures Fund L.P.

			
		• 	CMF Campbell Master Fund L.P.

Please acknowledge receipt of this modification by signing one copy of this letter and returning it to the attention of Mr. Daniel McAuliffe at the address above or fax to 212-793-1986. If you have any questions I can be reached at 212-559-5043.

Very truly yours,

CITIGROUP MANAGED FUTURES LLC

				
	By:			/s/ Daniel R. McAuliffe, Jr.
 Daniel R. McAuliffe, Jr.
 Chief Financial Officer & Director
	

CAMPBELL & COMPANY, INC.

				
	By:			/s/ Theresa Becks
	

Print Name: Theresa Becks

DRMcA/sr

1

June 30, 2006

Willowbridge Associates Inc.
 101 Morgan Lane - Suite 180
 Plainsboro, N.J. 08536

Attention: Mr Steve R. Crane

Re:    Management Agreement Renewals

Dear Mr. Crane:

We are writing with respect to your management agreements concerning the commodity pools to which reference is made below (the ‘‘Management Agreements’’). We are extending the term of the Management Agreements through June 30, 2007 and all other provisions of the Management Agreements will remain unchanged.

			
		• 	Salomon Smith Barney Orion Futures Fund L.P.

			
		• 	Smith Barney Diversified Futures Fund L.P.

			
		• 	Smith Barney Diversified Futures Fund L.P. II

			
		• 	Citigroup Diversified Futures Fund L.P.

			
		• 	Citibank NA (Alera 100)

			
		• 	CMF Institutional Futures Portfolio LP

			
		• 	CMF Willowbridge Master

Please acknowledge receipt of this modification by signing one copy of this letter and returning it to the attention of Mr. Daniel McAuliffe at the address above or fax to 212-793-1986. If you have any questions I can be reached at 212-559-5043.

Very truly yours,

CITIGROUP MANAGED FUTURES LLC

				
	By:			/s/ Daniel R. McAuliffe, Jr.
 Daniel R. McAuliffe, Jr.
 Chief Financial Officer & Director
	

				
	By:			/s/ Steve R. Crane
	

Print Name: Steve R. Crane

DRMcA/sr

2

June 30, 2006

Winton Capital Management
 1a. St. Mary Abbot’s Place
 Kensington, London W86LS, U.K.

Attention: Mr. Martin Hunt

Re:    Management Agreement Renewals

Dear Mr. Hunt:

We are writing with respect to your management agreements concerning the commodity pools to which reference is made below (the ‘‘Management Agreements’’). We are extending the term of the Management Agreements through June 30, 2007 and all other provisions of the Management Agreements will remain unchanged.

			
		• 	Smith Barney Diversified Futures Fund L.P.

			
		• 	AURORA 2001

			
		• 	AURORA III

			
		• 	SSB Orion Futures Fund L.P.

			
		• 	Alera Portfolio Spc

			
		• 	CMF Winton Feeder LP I

			
		• 	Citigroup Diversified Futures Fund L.P.

			
		• 	CMF Winton Master Fund L.P.

			
		• 	CMF Institutional Futures Portfolio LP

Please acknowledge receipt of this modification by signing one copy of this letter and returning it to the attention of Mr. Daniel McAuliffe at the address above or fax to 212-793-1986. If you have any questions I can be reached at 212-559-5043.

Very truly yours,

CITIGROUP MANAGED FUTURES LLC

				
	By:			/s/ Daniel r. McAuliffe, Jr.
 Daniel R. McAuliffe, Jr.
 Chief Financial Officer & Director
	

				
	By:			/s/ Martin Hunt
	

Print Name: /s/ Martin Hunt

DRMcA/sr

3

June 30, 2006

Graham Capital Management, L.P.
 Rock Ledge Financial Center
 40 Highland Avenue
 Rowayton, CT 06853

Attention: Mr. Paul Sedlack

Re:    Management Agreement Renewals

Dear Mr. Sedlack:

We are writing with respect to your management agreements concerning the commodity pools to which reference is made below (the ‘‘Management Agreements’’). We are extending the term of the Management Agreements through June 30, 2007 and all other provisions of the Management Agreements will remain unchanged.

			
		• 	Smith Barney Global Markets Futures Fund

			
		• 	Smith Barney Diversified Futures Fund L.P. II

			
		• 	Smith Barney Diversified Futures Fund L.P.

			
		• 	Salomon Smith Barney Diversified 2000 Futures Fund L.P.

			
		• 	AURORA 2001

			
		• 	AURORA III

			
		• 	Salomon Smith Barney Fairfield Futures Fund L.P.

			
		• 	Citigroup Diversified Futures Fund L.P.

			
		• 	Citigroup Fairfield Futures Fund L.P. II

			
		• 	Citibank NA (Alera 100)

			
		• 	Alera Portfolio SPC

			
		• 	CMF Graham Master Fund L.P.

Please acknowledge receipt of this modification by signing one copy of this letter and returning it to the attention of Mr. Daniel McAuliffe at the address above or fax to 212-793-1986. If you have any questions I can be reached at 212-559-5043.

Very truly yours,

CITIGROUP MANAGED FUTURES LLC

By: /s/ Daniel R. McAuliffe, Jr.

        Daniel R. McAuliffe, Jr.
        Chief Financial Officer & Director

By: /s/ Paul Sedlack

Print Name: Paul Sedlack

DRMcA/srExhibit 10.7

June 30, 2006

Graham Capital Management, L.P.
 Rock Ledge Financial Center
 40 Highland Avenue
 Rowayton, CT 06853

Attention: Mr. Paul Sedlack

Re:    Management Agreement Renewals

Dear Mr. Sedlack:

We are writing with respect to your management agreements concerning the commodity pools to which reference is made below (the ‘‘Management Agreements’’). We are extending the term of the Management Agreements through June 30, 2007 and all other provisions of the Management Agreements will remain unchanged.

		
	• 	Smith Barney Global Markets Futures Fund

		
	• 	Smith Barney Diversified Futures Fund L.P. II

		
	• 	Smith Barney Diversified Futures Fund L.P.

		
	• 	Salomon Smith Barney Diversified 2000 Futures Fund L.P.

		
	• 	AURORA 2001

		
	• 	AURORA III

		
	• 	Salomon Smith Barney Fairfield Futures Fund L.P.

		
	• 	Citigroup Diversified Futures Fund L.P.

		
	• 	Citigroup Fairfield Futures Fund L.P. II

		
	• 	Citibank NA (Alera 100)

		
	• 	Alera Portfolio SPC

		
	• 	CMF Graham Master Fund L.P.

Please acknowledge receipt of this modification by signing one copy of this letter and returning it to the attention of Mr. Daniel McAuliffe at the address above or fax to 212-793-1986. If you have any questions I can be reached at 212-559-5043.

Very truly yours,

CITIGROUP MANAGED FUTURES LLC

		
	By: 	/s/ Daniel R. McAuliffe, Jr.                

 Daniel R. McAuliffe, Jr.
 Chief Financial Officer and Director

		
	By: 	/s/ Paul Sedlack    

Print Name: Paul Sedlack    

DRMcA/srJune  30,  2006

Campbell & Company, Inc.
Court Tower Building
210 West Pennsylvania Avenue
Suite 770
Towson, MD 21204

Attn: Ms.  Terry  Becks

Re:    Management Agreement Renewals

Dear Ms.  Becks:

We are writing with respect to your management agreements concerning the commodity pools to which reference is made below (the ‘‘Management Agreements’’). We are extending the term of the Management Agreements through June  30,  2007 and all other provisions of the Management Agreements will remain unchanged.

			
		• 	Smith Barney Potomac Futures Fund L.P.

			
		• 	Smith Barney Diversified Futures Fund L.P.

			
		• 	Smith Barney Diversified Futures Fund L.P. II

			
		• 	Smith Barney Global Markets Futures Fund L.P.

			
		• 	Salomon Smith Barney Global Diversified Futures Fund L.P.

			
		• 	Salomon Smith Barney Diversified 2000 Futures Fund L.P.

			
		• 	CMF Campbell Master Fund L.P.

Please acknowledge receipt of this modification by signing one copy of this letter and returning it to the attention of Mr.  Daniel  McAuliffe at the address above or fax to 212-793-1986. If you have any questions I can be reached at 212-559-5043.

Very truly yours,

CITIGROUP MANAGED FUTURES LLC

By:   /s/ Daniel R. McAuliffe, Jr.

Daniel R. McAuliffe, Jr.
Chief Financial Officer & Director

CAMPBELL & COMPANY, INC.

By:   /s/ Theresa Becks

Print Name:   Theresa Becks

DRMcA/sr

June  30,  2006

Aspect Capital Management Ltd.
Nations House – 8th Floor
103 Wigmore Street
London W1U 1QS, U.K.

Attention: Mr.  Anthony  Todd

Re:    Management Agreement Renewals

Dear Mr.  Todd:

We are writing with respect to your management agreements concerning the commodity pools to which reference is made below (the ‘‘Management Agreements’’). We are extending the term of the Management Agreements through June  30,  2007 and all other provisions of the Management Agreements will remain unchanged.

			
		• 	Salomon Smith Barney Global Diversified Futures Fund L.P.

			
		• 	Salomon Smith Barney Diversified 2000 Futures Fund L.P.

			
		• 	Citigroup Diversified Futures Fund L.P.

			
		• 	Citibank NA (Alera 100)

			
		• 	CMF Aspect Master Fund L.P.

			
		• 	CMF Institutional Futures Portfolio LP

Please acknowledge receipt of this modification by signing one copy of this letter and returning it to the attention of Mr.  Daniel  McAuliffe at the address above or fax to 212-793-1986. If you have any questions I can be reached at 212-559-5043.

Very truly yours,

CITIGROUP MANAGED FUTURES LLC

By:   /s/ Daniel R. McAuliffe, Jr.

Daniel R. McAuliffe, Jr.
Chief Financial Officer & Director

By:   /s/ Simon Rockall

Print Name:   Simon Rockall

DRMcA/sr

June  30,  2006

Altis Partners Limited
5th Fl. Sackville House
40 Piccadilly
W1J0DR England

Attention: Mr.  Stephen  Hedgecock

Re:    Management Agreement Renewals

Dear Mr.  Hedgecock:

We are writing with respect to your management agreements concerning the commodity pools to which reference is made below (the ‘‘Management Agreements’’). We are extending the term of the Management Agreements through June  30,  2007 and all other provisions of the Management Agreements will remain unchanged.

			
		• 	CTA Capital LLC

			
		• 	Salomon Smith Barney Global Diversified Futures Fund L.P.

			
		• 	Citigroup Emerging CTA Portfolio L.P.

			
		• 	CMF Altis Partners Master Fund L.P.

			
		• 	CMF Institutional Futures Portfolio L.P.

Please acknowledge receipt of this modification by signing one copy of this letter and returning it to the attention of Mr.  Daniel  McAuliffe at the address above or fax to 212-793-1986. If you have any questions I can be reached at 212-559-5043.

Very truly yours,

CITIGROUP MANAGED FUTURES LLC

By:   /s/ Daniel R. McAuliffe, Jr.

Daniel R. McAuliffe, Jr.
Chief Financial Officer & Director

By:   /s/ Stephen Hedgelock

Print Name:   Stephen Hedgelock

DRMcA/sr

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