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Joe Gold has kept you informed of our discussions with NYMEX. Please see First Draft attached of our understanding of this meeting. Joe Robertson of our New York office 001 212 715 5254 is fully aware of our ideas and has (as far as metals are concerned) good contacts at NYMEX. We would suggest that you engage him as the metals futures specialist in your further discussions with NYMEX. We have had some further telecon discussions with NYMEX and will modify this first draft and, of course, send you final copy we transmit to NYMEX. Best regards

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NYMEX Aluminium Market Maker