Trading Unit: 10,000 million British thermal units (MMBtu)

Trading Hours: 10:00 a.m. - 3:10 p.m. (New York Time).

Trading Months: 18 consecutive months commencing with the next calendar month (e.g., on October 1, 1993, the first trading month is November 1993).

Price Quotation: In dollars and cents per gallon (e.g., $2.000 per MMBtu).

Min Price Fluct: $0.0001 per Btu ($10 per contract).

Max. Price Fluct: $.1 per MMBtu ($1,000 per contract). There is no maximum daily limit on price fluctuations during the month preceding the delivery month. In the event that a settlement price is established at the maximum daily limit on price fluctuations, this limit will be increased subject to a variable limits formula.

Last Trading Day: Trading terminates six business days prior tot he first calendar day of the delivery month.

Delivery: Sabine Pipe Line Co.'s Henry Hub in Louisiana. Seller is responsible for the movement of the gas through the Hub. the buyer from the Hub. The Hub fee will be paid by seller.

Delivery Period: Delivery shall take place no earlier than the first calendar day of the delivery month and shall be completed no later than the last calendar day of the delivery month. All deliveries shall be made at as uniform as possible an hourly and daily rate of flow over the course of the delivery month.

Quality specifications: Pipeline specifications in effect at time of delivery.

Margin Requirements: Margins are required for open futures or short options positions.