Industry regulators.

Argentina

Comision Nacional de Valores H. Yrigoyen 250 1 0 Buenos Aires 54-1-342-1919; fax 54-1-331-0639 Martin Redrado

Australia

Australian Securities Commission 6-10 O'Connell St. Sydney GPO Box 4866 Sydney NSW 2001 61-2-390-3000; fax 61-2-390-3030 Alan Cameron, chairman

Brazil

Comissao de Valores Mobiliarios (Brazilian Security Exchange Commission) SAS, Quadra 2, Biocco "K" Edificio Siderbras 10 andar 70070 Brasilia 55-61-321-0265; fax 55-61-321-0147 Telex: 613001 CVMS BR

Canada

Office of the Superintendent of Financial Institutions 255 Albert St. Ottawa, Ontario, K1A OH2 (613) 990-7500; fax (613) 952-8219 Michael Mackenzie, superintendent of financial institutions Regulates and supervises banks, insurance, trust, loan and investment companies and cooperative credit associations that are chartered, licensed or registered by the federal government and supervises federally regulated pension plans.

Regional offices: 1 Front St., Second Floor Toronto, Ontario, M5W 1A3 (416) 973-9280; fax (416) 973-7021 Complexe Guy Favreaux 200 Rene Levesque Blvd. West W. Tower, Ninth Floor Montreal, Quebec, H2Z 1X4 (514) 283-4836; fax (514) 496-1726 Lakeview Square One 155 Carlton St., Suite 307 Winnipeg, Manitoba R3C 3H8 (204) 983-4140; fax (204) 983-7423 800 Burrard St. Vancouver, British Columbia, V6Z 2G7 (604) 666-5335; fax (604) 666-6717 Various provincial governments also have regulatory authority. In addition, there are the following Securities Commissions:

Alberta Securities Commission 10025 Jasper Ave., 21st Floor Edmonton, Alberta T5J 3Z5 (403) 427-5201; fax (403) 422-0777

British Columbia Securities Commission 100-865 Hornby St. Vancouver British Columbia V6Z 2H4 (604) 660-4800; fax (604) 660-2688

Manitoba Securities Commission 405 Broadway Ave., Room 1128 Winnipeg, Manitoba R3C 3L6 (204) 945-2550; fax (204) 945-0330

Office of the Administrator of Securities P.0. Box 5001, 77 Germain St., Suite 102 Saint John, New Brunswick E2L 4Y9 (506) 658-3060; fax (506) 658-3059

Nova Scotia Securities Commission Joseph Howe Building 1690 Hollis St., Second Floor P.0. Box 458 Halifax, Nova Scotia B3J 3J9 (902) 424-7768; fax (902) 424-4625

Ontario Securities Commission 20 Queen St. West, Suite 800 P.O. Box 55 Toronto, Ontario M5H 3S8 (416) 597-0681; fax (416) 593-8241

Commission des valeurs mobilieres du Quebec C.P. 246, Tour de la Bourse 800, square Victoria, 17 etage Montreal, Quebec H4Z 1G3 (514) 873-5326; fax (514) 873-3090

Saskatchewan Securities Commission T-D Bank Building 1914 Hamilton St., No. 850 Regina, Saskatchewan S4P 3V7 (306) 787-5645; fax (306) 787-5899

Denmark

Danish Supervisory Authority of Financial Affairs Gammel Kongevej 74 A 45-31-23-11-88; fax 45-31-23-04-41 Eigil Molgaard

France

Commission des Operations de Bourse 39-43 Quai Andre-Citroen 75739 Paris Cedex 15 33-1-40-58-65-65; fax 31-1-40-58-65-00 Telex: 205 238F COBPARI Jean Saint-Geours, president Pierre Fleuriot, executive director COB is a public, independent regulatory organization. Its mission is to ensure protection of investors, adequacy of information given to investors and proper functioning of financial markets.

Conseil du Marche a Terme 18 Boulevard Montmartre Paris 75009 33-1-42-46-34-94; fax 33-1-42-46-34-95 Jean-Francois Lepetit, president Jacques Loubert, secretary general The CMT is the professional self-regulatory organization of the MATIF. Its missions are to set the regulation applicable on the futures and option markets in France and to implement its disciplinary powers on the intermediaries and their employees on the market.

Germany

Ministry for Economic and Technical Affairs of the State of Hesse Kaiser-Friedrich-Ring 75 6200 Wiesbaden 49-611-815-2306; fax 49-611-815-2228 Georg Dreyling, ministerial council

Hong Kong

Securities and Futures Commission 11th-13th Floor Edinburgh Tower, The Landmark Central, Hong Kong 852-8409222; fax 852-5217836 Robert Nottle, chairman

Japan

Ministry of Agriculture, Forestry & Fisheries Chiyoda-ku, Tokyo 100 81-33-591-4963

Ministry of Finance 3-1 Kasumigaseki, 1-chome Chiyoda-ku, Tokyo 100 81-33-581-4111

Ministry of International Trade and Industry 3-1 Kasumigaseki, 1-chome Chiyoda-ku, Tokyo 100 81-33-501-1511; fax 81-33-501-6646, 81-33-501-2081 Industrial Policy Bureau Commercial Affairs Office Tetsuhiro Hosono, director International Business Affairs Division Makoto Nomura, director International Trade Policy Bureau Sozaburo Okamatsu, director-general Noboru Hatakeyama, vice-minister for international affairs

Malaysia

Commodities Trading Commission Fifth Floor City Point, Dayabumi Jalan Sultan Hishamuddin 50050 Kuala Lumpur 6-03-2936644; fax 6-03-2748330 Telex: MA 20234 Tun Ismail bin Mohamed Ali, chairman Ismail bin Haji Ahmad, commissioner

New Zealand

Securities Commission P.O. Box 1179 Wellington 64-4-472-9830; fax 64-4-472-8076 Peter McKenzie, chairman John Farrell, executive director

The Netherlands

Stichting Toezicht Effectenverkeer Paleisstraat 1/P.O. Box 11723 1012 RB/1001 GS Amsterdam 31-20-620-6549; fax 31-20-620-6649

Singapore

Monetary Authority of Singapore MAS Building, 10 Shenton Way Singapore 0207 65-2255577; fax 65-2299697 Telex: ORCHID, RS 28174 Koh Beng Seng, deputy managing director, banking and financial institutions group

Spain

Comision Nacional del Mercado de Valores Paseo de la Castellana, 19 28046 Madrid 32-1-585-15-00; fax 34-1-319-33-73 Luis Carlos Croissier, president Anibal Sanchez, VP Gloria Bombin, office of public affairs All matters related to securities markets come under the jurisdiction of the CNMV.

Sweden

Finansinspektionen Box 7831 103 98 Stockholm 46-8-787-8000; fax 46-8-24-1335 Anders Sahlen

Switzerland

Federal Department of Foreign Affairs House of Parliament 3003 Bern 41-31-612111; fax 41-31-613237 Alexis P. Lautenberg, minister, economic and financial division

United Kingdom

Securities and Futures Authority Cottons Centre Cottons Lane London SE1 2QB 44-71-378-9000; fax 44-71-403-7569 John Young, CEO Phillip Thorpe, deputy chief executive Christopher Woodburn, COO The SFA is responsible for regulating firms involved in the securities, commodities and financial futures, traded options and derivatives businesses. Its aim is to promote and maintain high standards of integrity and fair dealing in the carrying on of investment business, thereby providing effective protection for the investor. It does this by licensing firms that are deemed to be "fit and proper" and through the enforcement of its rules by a monitoring process and, where appropriate, disciplinary action.

Securities and Investments Board Gavrelle House, 2-14 Bunhill Row London EC1Y 8RA 44-71-638-1240; fax 44-71-382-5900 Andrew Large, chairman Roy Croft CB, executive director and COO Barry Gittins, director, securities and derivatives regulation The SIB has overall regulatory responsibility for investment business in the United Kingdom, answering through the Secretary of State for Trade and Industry to Parliament, for the exercise of the powers it has been delegated under the Financial Services Act of 1986.

United States

Commodity Futures Trading Commission 2033 "K" St. N.W. Washington, DC 20581 (202) 254-6387; fax (202) 254-6265 Chairman: To be named Commissioners: Sheila Bair, Joseph Dial, William P. Albrecht (one vacancy) Ewen Wilson, executive director (202) 254-3350 Joanne Medero, general counsel (202) 254-9880 Dennis Klejna, director, Enforcement Division; (202) 254-7424 Andrea Corcoran, director, Division of Trading and Markets; (202) 254-8955 Gerald Gay, director, Division of Economic Analysis; (202) 254-6314 Jean Webb, Office of Secretariat; (202) 254-6314 James P. Duggan, director, Office of Communications and Education Services; (202) 254-8630 Britt Lenz, director, Proceedings; (202) 254-3067

Regional offices: Eastern region headquarters 1 World Trade Center, Suite 4747 New York, NY 10048 (212) 466-2071; fax (212) 466-5723 Howard Bodenhamer, director Central region headquarters 300 S. Riverside Plaza , Suite 1600 North Chicago, IL 60606 (312) 353-9000; fax (312) 886-8470 David A. Kass, director Southwest region headquarters 4900 Main St., Suite 721 Kansas City, MO 64112 (816) 931-7600; fax (816) 931-9643 Southwest region suboffice 510 Grain Exchange Building Minneapolis, MN 55415 (612) 370-3255; fax (612) 370-3257 Richard Kirchhoff, director Western region headquarters 10880 Wilshire Blvd., Suite 1005 Los Angeles, CA 90024 (310) 575-6783; fax (310) 470-6397 The CFTC is the federal agency responsible for regulating all futures trading in the United States. It began operations on April 15, 1975, pulling together regulatory jurisdiction over new futures areas such as currencies and financial futures with the traditional commodities previously administered by the Commodity Exchange Authority, an agency in the U.S. Department of Agriculture. The CFTC was the first federal agency with a "sunset" provision - it ceases to exist unless reauthorized periodically. It has five commissioners, with no more than three from one political party and the chairman normally from the party in the White House.

Federal Reserve Board 20th St. and Constitution Ave. N.W. Washington, DC 20551 (202) 452-3000 Alan Greenspan, chairman Office of Public Affairs (202) 452-3204 Publications Office (202) 452-3244

National Association of Securities Dealers 1735 "K" St. N.W. Washington, DC 20006 News Bureau (202) 728-8955 John E. Pinto Jr., executive VP, compliance The NASD is a self-regulatory organization for the securities industry responsible for the regulation of NASDAQ and over-the-counter securities markets.

National Futures Association 200 W. Madison St., Suite 1600 Chicago, IL 60606-3447 (312) 781-1300; fax (312) 781-1467 (800) 621-3570; (800) 572-9400 (IL)

New York office: 120 Broadway, Suite 1125 New York, NY 10271 (212) 608-8660; fax (212) 964-3913 Robert K. Wilmouth, president and CEO Thomas Conway, treasurer Daniel A. Driscoll, VP, compliance Kenneth F. Haase, VP, information systems Daniel J. Roth, VP, general counsel and secretary Jean W. Tippins, VP, administration John J. Conheeney, chairman Hal T. Hansen, vice chairman The NFA is the congressionally authorized self-regulatory organization of the futures industry in the United States. It began operations on Oct. 1, 1982, and over the years has taken over many of the registration and disciplinary responsibilities of the CFTC.

Directors: Futures Commission Merchants John J. Conheeney, Merrill Lynch Futures Inc. James F. Curley, Prudential Securities Inc. William B. Dudley Jr., Kidder Peabody & Co. Inc. Tone N. Grant, Refco Inc. Hal T. Hansen, Cargill Investor Services Inc. Douglas O. Kitchen, J.C. Bradford & Co. Barry J. Lind, Lind-Waldock & Co. Laurence E. Mollner, Dean Witter Reynolds Inc. Charles P. Nastro, Shearson Lehman Brothers Inc. O. Lee Reid Jr., A.G. Edwards & Sons Inc. Michael R. Schaefer, Smith Barney, Harris Upham & Co. Inc. Susan Tigner, Country Hedging Inc. Frederick G. Uhlmann, Rodman & Renshaw Inc. Wallace G. Weisenborn, LIT America Inc.

Commodity Trading Advisors Dennis D. Dunn, Dunn & Hargitt Investment Management Inc. Robert G. Easton, Commodities Corp. (USA) NV Robert L. Isaacson, Commodity Investment Consultants Inc.

Commodity Pool Operators George A. Booth III, George Booth & Associates Inc. William A. Dunn, Dunn Capital Management Inc.

lntroducing Brokers H. Foster Lund, Lund Corp. Howard M. Rothman, Super Fund Financial Group Inc.

Contract Markets Thomas R. Donovan, Chicago Board of Trade William F. O'Connor, Chicago Board of Trade Leo Melamed, Chicago Mercantile Exchange, Dellsher Investment Co. John F. Sandner, Chicago Mercantile Exchange Bennett J. Corn, Coffee, Sugar & Cocoa Exchange Inc. David A. Halperin, Commodity Exchange Inc. Michael Braude, Kansas City Board of Trade John F. Gilmore Jr., MidAmerica Commodity Exchange, Goldman, Sachs & Co. James H. Lindau, Minneapolis Grain Exchange Joseph J. O'Neill, New York Cotton Exchange Lewis J. Horowitz, New York Futures Exchange Z. Lou Guttman, New York Mercantile Exchange Joseph S. Rizzello, Philadelphia Board of Trade

Commercial Firms H. Richard Farr, Farr Feeders Henry G. Jarecki,The Falconwood Corp. Donald M. Mennel, Mennel Milling Co.

Commercial Banks Michael Fitch, Wells Fargo Bank Bruce F. Osborne, Harris Bank-Winnetka

Public Directors James Dewey Daane, Vanderbilt University Darl E. Kleinbach, Oregon Wheat Commission Warren W. Lebeck, consultant

Securities and Exchange Commission 450 Fifth St. N.W. Washington, DC 20549 (202) 272-3100; fax (202) 272-7050 Richard Breeden, chairman Commissioners: J. Carter Beese, Mary L. Schapiro, Richard Y. Roberts Office of Public Affairs (202) 272-2650 Office of Filings, Information and Consumer Services (202) 272-7440 Filings by Registered Companies: Public Reference Room (202) 272-7450 Forms and Publications (202) 272-7040