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The forms in this booklet must be completed and signed before you can open an account carried by U.S. Securities & Futures Corp. Customers must sign and date the appropriate forms at the spaces provided on pages listed below.

FORM PAGE

Risk Disclosure Statement for Futures and Options 3

Customer Agreement 6

Complete the Customer Fact Sheet 11

Individual, Joint or Sole Proprietorship Accounts

Corporate Accounts

Partnership Account

Trust Account

Corporate Disclosure Statement

Corporate Resolution and Indemnification 12

Personal Guarantee 13

Arbitration Agreement 14

Tax Information 15

Account Transfer Form 16

Bank Wire Instruction:

Chase Manhattan Bank

ABA # 021000021

4 New York Plaza - 21st Floor

New York, NY 10004-2477

Credit to: U.S. Securities & Futures Corp.

Customer Segregated Account

A/C #: 024043516

(include your name and account # if applicable)

RISK DISCLOSURE STATEMENT FOR FUTURES AND OPTIONS

This brief statement does not disclose all of the risks and other significant aspects of trading in futures and options. In light of the risks, you should undertake such transactions only if you understand the nature of the contracts (and contractual relationships) into which you are entering and the extent of your exposure to risk. Trading in futures and options is not suitable for many members of the public. You should carefully consider whether trading is appropriate for you in light of your experience, objectives, financial resources and other relevant circumstances.

Futures

1. Effect of 'Leverage' or 'Gearing'

Transactions in futures carry a high degree of risk. The amount of initial margin is small relative to the value of the futures contract so that transactions are 'leveraged' or 'geared'. A relatively small market movement will have a proportionately larger impact on the funds you have deposited or will have to deposit: this may work against you as well as for you. You may sustain a total loss of initial margin funds and any additional funds deposited with the firm to maintain your position. If the market moves against your position or margin levels are increased, you may be called upon to pay substantial additional funds on short notice to maintain your position. If you fail to comply with a request for additional funds within the time prescribed, your position may be liquidated at a loss and you will be liable for any resulting deficit.

2. Risk-reducing orders or strategies.

The placing of certain orders (e.g. 'stop-loss' orders, where permitted under an exchange or local law, or 'stop-limit' orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as 'spread' and 'straddle' positions may be as risky as taking simple 'long' or 'short' positions.

Options

3. Variable degree or risk

Transactions in options carry a high degree of risk. Purchasers and sellers of options should familiarize themselves with the type of option (i.e. put or call) which they contemplate trading and the associated risks. You should calculate the extent to which the value of the options must increase for your position to become profitable, taking into account the premium and all transaction costs.

The purchaser of options may offset or exercise the options or allow the options to expire. The exercise of an option results either in a cash settlement or in the purchaser acquiring or delivering the underlying interest. If the option is on a future, the purchaser will acquire a futures position with associated liabilities for margin (see the section on Futures above). If the purchased options expire worthless, you will suffer a total loss of your investment which will consist of the option premium plus transaction costs. If you are contemplating purchasing deep-out-of-the-money options, you should be aware that the chance of such options becoming profitable ordinarily is remote.

Selling ('writing' or granting') an option generally entails considerably greater risk than purchasing options. Although the premium received by the seller is fixed, the seller may sustain a loss well in excess of that amount. The seller will be liable for additional margin to maintain the position if the market moves unfavorably. The seller will also be exposed to the risk of the purchaser exercising the option and the seller will be obligated to either settle the option in cash or to acquire or deliver the underlying interest. If the option is on a future, the seller will acquire a position in a future with associated liabilities for margin (see the section on Futures above). If the position is 'covered' by the seller holding a corresponding position in the underlying interest or a future or another option, the risk may be reduced. If the option is not covered, the risk of loss can be unlimited.

Additional risks common to futures and options

4. Terms and conditions of contracts

You should ask the firm with which you deal about the term and conditions of the specific futures or options which you are trading and associated obligations (e.g. the circumstances under which you may become obligated to make or take delivery of the underlying interest of a futures contract and, in respect of options, expiration dates and restrictions on the time for exercise). Under certain circumstances the specifications of outstanding contracts (including the exercise price of an option) may be, modified by the exchanges or clearing house, to reflect changes in the underlying interest.

5. Suspension or restriction of trading and pricing relationships

Market conditions (e.g. illiquidity) and/or the operation of the rules of certain markets (e.g. the suspension of trading in any contract or contract month because of price limits or 'circuit breakers') may increase the risk of loss by making it difficult or impossible to effect transactions or liquidate/offset positions. If you have sold options, this may increase the risk of loss.

Further normal pricing relationships between the underlying interest and the future, and the underlying interest and the option may not exist. This can occur when, for example, the futures contract underlying the option is subject to price limits while the option is not. The absence of an underlying reference price may make it difficult to judge 'fair' value.

6. Deposited cash and property

You should familiarize yourself with the protections accorded money or other property you deposit for domestic and foreign transactions, particularly in the event of a firm insolvency or bankruptcy. The extent to which you may recover your money or property may be governed by specified legislation or local rules. In some jurisdictions, property which had been specifically identifiable as your own will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall.

7. Commission and other charges

Before you begin to trade, you should obtain a clear explanation of all commission, fees and other charges for which you will be liable. These charges will affect your net profit (if any) or increase your loss.

8. Transactions in other jurisdictions

Transactions on markets in other jurisdictions, including markets formally linked to a domestic market, may expose you to additional risk. Such markets may be subject to regulation which may offer different or diminished investor protection. Before you trade you should inquire about any rules relevant to your particular transactions. Your local regulatory authority may be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions where your transactions have been effected. You should ask the firm, with which you deal, for details about the types of redress available in both your home jurisdiction and other relevant jurisdictions before you start to trade.

9. Currency risks

The profit or loss in transactions in foreign currency-denominated contracts (whether they are traded in your own or another jurisdiction) will be affected by fluctuations in currency rates where there is a need to convert from the currency denomination of the contract to another currency.

10. Trading facilities

Most open-outcry and electronic trading facilities are supported by computer-based component systems for the order-routing, execution, matching, registration or clearing of trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure. Your ability to recover certain losses may be subject to limits on liability imposed by the system provider, the market, the clearing house and/or member firms. Such limits may vary; you should ask the firm with which you deal for details in this respect.

11. Electronic trading

Trading on an electronic trading system may differ not only from trading in an open-outcry market but also from trading on other electronic trading systems. If you undertake transactions on an electronic trading system, you will be exposed to risk associated with the system including the failure of hardware and software. The result of any system failure may be that your order is either not executed according to your instructions or is not executed at all.

12. Off-exchange transactions

In some jurisdictions, and only then in restricted circumstances, firms are permitted to effect off-exchange transactions. The firm with which you deal may be acting as your counterparty to the transaction. It may be difficult or impossible to liquidate an existing position, to assess the value, to determine a fair price or to assess the exposure to risk. For these reasons, these transactions may involve increased risks. Off- exchange transactions may be less regulated or subject to a separate regulatory regime. Before you undertake such transactions, you should familiarize yourself with applicable rules and attendant risks.

I hereby acknowledge that I have received and understood this risk disclosure statement.

X__________________________________

Customer's Name (printed)

X__________________________________ _______________________

Customer's Authorized Signature Date

If Joint Account:

X__________________________________

Customer's Name (printed)

X__________________________________ ________________________

Customer's Authorized Signature Date

________________________________________The undersigned ("Customer") has submitted to U.S. Securities & Futures Corp. ("Broker") a completed Account Application Form(s); the terms of which are incorporated herein by reference; therefore, in consideration of Broker acting in its capacity as Broker, or maintaining one or more commodity accounts for the Customer, it is agreed with respect to all accounts, whether upon margin or otherwise, which the undersigned now has or may at any future time have with Broker, including accounts from time to time closed and then reopened, as follows:

1. Trading

Customer authorizes Broker to purchase and sell commodity futures contracts and to purchase, sell and exercise commodity options for Customer's account in accordance with Customer's oral or written instruction. Customer acknowledges Broker has the right, but no responsibility or obligation, to limit the number or commodity futures and commodity options which Customer they may maintain or acquire through Broker at any time. Customer agrees not to make any trade through Broker which would have the effect of exceeding any limitations imposed on Customer by Broker.

2. Regulations

All transactions shall be subject to the constitution by-laws, rules, regulations, customs, usage's, rulings and interpretations of the exchange, board or trade, contract market (and its clearing house, if any) where executed and to all applicable Federal and State laws and regulations. If any statute shall hereafter be enacted or any rule or regulation shall hereafter be adopted by any governmental authority, exchange, board or trade or clearing house, which shall be binding upon Broker and shall affect in any manner or be inconsistent with any of the provisions hereof, the affected provisions of this agreement shall be deemed modified or superseded, as the case may be, by the applicable provisions of such statute, rule or regulation, and all other provisions of this agreement and provisions so modified shall in all respects continue in full force and effect. Customer represents and warrants that it is in compliance with all applicable rules of the Commodity Futures Trading Commission ("CFTC") and the National Futures Association ("NFA"). In the event that customer is a duly Registered Introducing Broker, Commodity Pool Operator or Commodity Trading Advisor or otherwise is subject to the terms of NFA by-law 1101, as amended, customer represents that (i) it is presently a member in good standing of the NFA and shall continue to maintain such membership during the term of this Account Agreement, and (ii) it shall continue to abide by and comply with the NFA Compliance Rules Code of Arbitration and Financial Requirements, the terms of which are incorporated herein by reference, or (iii) it is duly exempted from such requirements in accordance with rules established from time to time by the CFTC or NFA.

3. Margins

Customer shall deposit with Broker sufficient funds to meet the initial and maintenance margin requirements. Customer shall, without notice or demand, maintain adequate margins at all times so as to continuously meet the margin requirements established by Broker. Broker may establish margin requirements in its sole and absolute discretion and said requirements may exceed the margin requirements set by any commodity exchange or other regulatory authority. Customer agrees, when requested by Broker, to immediately wire transfer funds to adequately maintain margins and to furnish Broker with the names of bank officers for immediate confirmation of such transfers. Failure to demand wire transfer of funds or the acceptance of funds by mail shall not constitute a waiver of the right of Broker to demand wire transfer of funds at any time. If at any time customer's account does not contain the amount of margin required, Broker may, in its sole and absolute discretion, without notice or demand to Customer, close out Customer's open positions in whole or in part in accordance with Paragraph 5 below, or take any other action it deems necessary to satisfy such margin requirements. Failure of Broker to act in such circumstances shall not constitute a waiver of its rights to do so at any time thereafter, nor shall Broker be subject to any liability to Customer for its failure so to act. Broker is financially liable to the clearing members through which it clears transactions on exchanges for maintenance margins and deficit balances occurring in Customer's account. Customer agrees to indemnify and hold Broker harmless against and from any and all losses, costs and damages (including costs and attorneys' fees incurred in collecting such deficit) sustained by Broker resulting, directly or indirectly, from any action or omission by Customer with respect to the account(s), including but not limited to, any deficit balances which may occur in customer's account.

4. Trading Limits

Exchanges on which trading occurs may impose daily trading limits with respect to the trading of limits with respect to the trading of certain commodity futures contracts and may, from time to time, change such trading limits. Such trading limits may, from time to time, cause trading in a certain commodity futures contract to cease, thereby preventing the liquidation of an adverse position which may result in a financial disadvantage.

All monies, securities, negotiable instruments, open positions in futures contracts, commodity options, and commodities, or other property now or at any future time held in customer's account or which may be in Broker's possession for any purpose, including safekeeping, shall be subject to a general lien and security interest for the discharge of all obligations of Customer to Broker irrespective of whether or not Broker has made advances in connection with such securities, futures contracts, commodities or other property, and irrespective of the number of accounts Customer may have with Broker. Broker may, at any time, in its sole and absolute discretion, liquidate any of the above-mentioned items in order to satisfy any margin or account deficiencies of Customer and may transfer said property of assets to the general ledger account of Broker, all without liability on the part of Broker to Customer or any third party.

If, at any time, customer shall be unable to deliver to Broker any security, commodity or other property previously sold by Broker on Customer's behalf, Customer authorizes Broker, in Broker's sole discretion, to borrow or buy and deliver the same, and Customer shall immediately pay and indemnify Broker for any costs, loss and damage (including consequential costs, losses and damages) which Broker may sustain in making such delivery together with any premiums which Broker may be required to pay and for any costs, loss, and damage (including consequential costs, losses, and damages) which Broker may sustain from its inability to borrow or buy any such security, commodity or other property. In the event Broker takes delivery of any security or commodity for customer's account, Customer agrees to indemnify and hold Broker harmless from and against any loss it may suffer resulting, directly or indirectly, from a decline in value of said security or commodity.

Broker is hereby authorized from time to time to lend, separately or together with the property of others, either to itself or to others, any property which Broker may be carrying for the undersigned on margin. This authorization shall apply to all accounts carried by Broker for the undersigned and shall remain in full force until written notice of revocation is received by Broker.

6. Liquidation of Accounts

In the event of (a) Customer's death; (b) the filing of a petition in bankruptcy by or against Customer; (c) the institution of any similar state, federal or other insolvency proceeding by or against Customer; (d) the appointment of a receiver for the Customer or of any assets of customer; (e) an attachment is levied against Customer's account (or any of them); (f) a notice of levy with respect to Customer's account (or any of them) is served on Broker by any competent taxing authority; (g) Customer fails to meet any margin calls; (h) Broker, for any reason whatsoever, deems the following necessary for Broker's protection; or (i) Broker deems itself, for any reason insecure, then Broker is hereby authorized, in its sole discretion, to sell any or all of the commodity futures contracts, commodity options, and commodities or other property of Customer which may be in Broker's possession, or which Broker may be carrying for Customer, or to buy in any commodity futures contracts, commodity options, and commodities or other property of which the account or accounts of Customer may be short, or cancel any outstanding orders in order to close out the account or accounts of customer, in whole or in part, in order to close out any commitment made on behalf of Customer, all without any liability on the part of Broker to Customer or any third party. Such sale, purchase or cancellation may be made according to Broker's judgment and may be made at its discretion, on the exchange or other market where such business is usually transacted, without notice to Customer or the legal representative of Customer, and without prior tender, demand or call of any kind upon Customer or the legal representative of Customer, and Broker may purchase the whole or any part thereof free from any right of redemption, and Customer shall remain liable for any deficiency. It being understood that a prior tender, demand or call of any kind from Broker, or prior notice from Broker, of the time and place of such sale or purchase shall not be considered a waiver of Broker's right to sell or buy any commodity futures contracts, commodity options, and commodities or other property held by Broker or owned by Customer, at any time as herein before provided or to be deemed to require any such tender, demand, call or notice on any subsequent transaction.

7. Delivery Month and Option Liquidation Instructions

Liquidating instructions on open futures positions maturing in a current futures month must be given to Broker at least five (5) business day prior to the first notice in the case of long positions and, in the case of short positions, at least five (5) business days prior to the last trading day. It is acknowledged that the purchase or sale of a futures contract may involve the making or accepting of delivery. In such case sufficient funds to take delivery or the necessary delivery documents must be delivered to Broker within the same period described above. If neither instructions, nor funds, nor documents are received, Broker may, without notice, either liquidate the Customer's position or make or receive delivery on behalf of the Customer upon such terms and by such methods which Broker deems to be necessary or advisable. Customer understands that: 1) in order to

exercise a commodity option, customer must affirmatively notify Broker prior to the applicable exercise and expiration date and time established by Broker from time to time; 2) the exercise and expiration date and time established by Broker may be earlier than those set by an exchange; and 3) failure to provide such notice will constitute an abandonment of the option by Customer.

8. Charges

Customer shall pay Broker (1) the applicable initial, maintenance and variation margin requirements and brokerage and commission charges and fees in effect from time to time; (2) the premium, commissions, exercise fees, if any, and any additional fees or charges described in the exchange Traded Options Disclosure Statement on any commodity options transaction; (3) the amount of any loss that may result from transactions by Broker on Customer's behalf; (4) the interest and service charges on any Customer deficit balance at the rates customarily charged by Broker together with Broker's costs and attorneys' fees incurred in collecting any such deficit or portion thereof, and (5) Broker's costs and attorney's fees incurred in defending against any claim brought by Customer in any suit, arbitration or reparations proceeding in which Broker is the substantially prevailing party.

9. Statements and Confirmations

Customer acknowledges that he must carefully review the reports which he will receive relating to his trading. Reports of the confirmations of orders and statements of the accounts of the Customer shall be deemed correct and shall be conclusive and binding upon the Customer if not objected to in writing within five (5) days after transmittal to the customer by mail or otherwise. Such written objection on Customer's part shall be directed to Broker, and shall be deemed received only if actually delivered or mailed by registered mail, return receipt requested. Failure to so notify Customer acknowledges, authorizes and consents to the recording of Customer's telephone conversations with Broker or any of its agents or associated persons by means of electronic recording devices with or without the use of an automatic tone warning device. Customer understands, authorizes and consents to the use of such recording , and/or transcripts thereof, as evidence in any action arising out of this agreement. Broker may, but shall not be required to, erase such recordings on the seventh business day following their production.

10. Communications

Reports, notices and any other communications may be transmitted to Customer at the address given on the Application, or to such other address of which Customer may from time to time notify Broker in writing. All communications so sent, whether to such other address of which Customer may from time to time notify Broker in writing. All communications so sent, whether by mail, telegraph, messenger or otherwise, shall be deemed transmitted when deposited in the United States mail, or when received by a transmitting agent, and deemed delivered to Customer personally, whether or not actually received by the Customer.

11. Currency Fluctuation Risk

Customer acknowledges that investment in commodity futures contracts is speculative, involves a high degree of risk and is suitable only for persons who can assume risk of loss in excess of this margin deposit. Customer understands that because suitable only for persons who can assume risk of loss in excess of their margin deposit. Customer understands that because of the low margin normally required in commodity futures trading, price changes in commodity futures contracts may result in significant losses, and such losses may substantially exceed Customer's investment and margin deposit. The Customer represents that he is willing and able, financially and otherwise, to assume the risks of commodity trading, and in consideration of Broker carrying his account(s), Customer agrees to in no way hold Broker responsible for losses incurred through following its trading recommendations or suggestions or those of its employees, agents or representatives. The Customer recognizes that guarantees from Broker or from any of its representatives, and has not entered into this agreement in consideration of or in reliance upon such guarantees or similar representations. Customer also acknowledges that he has received, has read and understands the separate Regulation 1.55 Risk Disclosure Statement relating to the risks in trading commodity futures contracts.

12. Risk Acknowledgment

Customer acknowledges that engaging in transactions in Contracts is highly speculative, and involves a high degree of risk. Customer further acknowledges that as a result of the low margin normally required in trading Contracts, Customer may sustain a loss in excess of the margin deposit or account equity, Customer represents that Customer is willing and able, financially and otherwise, to assume the risks of trading in Contracts and any losses sustained thereby and that the trading of Contracts is a suitable investment vehicle for Customer. Customer shall not hold broker liable for losses incurred in Customer's account, whether or not such losses were incurred through following Broker's trading recommendations or suggestions. CUSTOMER ACKNOWLEDGES THAT CUSTOMER HAS NOT RECEIVED ANY REPRESENTATION OF PROFIT OR FREEDOM FROM LOSS FROM BROKER AND HAS NOT ENTERED INTO THIS AGREEMENT IN RELIANCE UPON ANY SUCH REPRESENTATION.

13. Governing Law

This agreement, its interpretation and enforcement shall be governed by the laws of the United States and the State of New York. No legal or administrative action arising out of this Agreement or transactions for customer's account may be commenced by anyone more than two years from the date the cause of action arose. Customer agrees not to commence any legal or administrative proceeding against broker until any deficit balance in customer's account is satisfied. This Agreement constitutes the entire understandings among the parties with respect to the subject matter hereof. Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law; but if any provision of this Agreement shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement.

14. Discretionary Trading

Customer understands that Broker does not permit its Account Executives to either exercise discretion or manage a commodity account or hold a power of attorney over a commodity account, unless approved by an executive office of Broker and only after proper documentation has been submitted and approved.

15. Trading Recommendations

Customer acknowledges that (1) any market recommendations and information communicated to Customer by Broker does not constitute an offer to sell or the solicitation of an offer to buy any commodity or commodity futures contract; (2) such recommendations and information, although based upon information obtained from sources believed by Broker to be reliable, may be incomplete and may not be verified; (3) Broker makes no representation, warranty or guaranty as to, and shall not be responsible for, the accuracy or completeness of any information or trading recommendation furnished to Customer. Customer understands that Broker and/or its officers, directors, affiliates, stockholders or representatives may have a position in and may intend to buy or sell commodities or commodity futures contracts which are the subject of market recommendations furnished to Customer, and that the market positions of Broker or any such officer, director, affiliate, stockholder or representative may or may not be considered with the recommendations furnished to Customer by Broker.

16. Customer Representations

Customer represents that he or she is not now an employee of any exchange, any corporation in which any exchange owns a majority of the capital stock, any member of any exchange, any firm registered on any exchange, or any bank trust, or insurance company. In the event that Customer becomes so employed, he or she will promptly notify Broker, in writing of such employment.

17. No Waiver or Amendment

No provision of this agreement may be waived or amended unless the waiver or amendment is in writing and signed by an authorized officer or Broker. No waiver or amendment of this agreement may be implied from any course of dealing between the parties or from any failure by Broker or its agents to assert its right under this agreement on any occasion or series of occasions. No oral agreement or instructions to the contrary shall be recognized or enforceable.

18. Binding Effect

This agreement shall be continuous and shall cover, individually and collectively, all accounts of the Customer at any time opened or reopened with Broker, irrespective of any change or changes at any time in the personnel of Broker or its successors, assigns, of affiliates, for any cause whatsoever; and shall be binding upon the Customer and/or the estate, executors, administrators, legal representatives, successors and assigns of the Customer. The Customer hereby ratifies all transactions with Broker effected prior to the date of this agreement, and consents that the rights and obligations of the Customer in respect thereof shall be governed by the terms of this agreement. Customer agrees that Broker may, from time to time, change the account number assigned to any account covered by this agreement, and that this agreement shall remain in full force and effect.

19. Termination

This agreement shall continue in effect until terminated and may be terminated by the Customer at any time when the Customer has no liabilities to Broker upon the actual receipt by Broker and its home office of written notice of termination, or at any time whatsoever by Broker upon the mailing or delivery of written notice of termination to the Customer, provided, however, that any such termination shall not effect any transactions therefore entered into and shall not relieve either party of any obligations in connection with any debit balance or credit balance or other liability or obligation incurred prior to such termination.

20. Indemnification

Customer agrees to indemnify Broker and hold Broker harmless from and against any and all liabilities, losses, damages, cost and expenses, including attorney's fees, incurred by Broker because any of the above representations and warranties are not true and correct or the agreements made herein by Customer shall not be fully and timely performed. Customer also agrees to pay promptly to Broker all damages, costs and expenses, including attorney's fees, incurred by Broker in the enforcement of any of the provisions of this agreement.

21. Application Information

Customer represents that the information contained in the Customer Account Application appearing on Page 1 of this form is true and correct, and that Customer will promptly notify Broker at its home office in writing if any of the representations contained therein materially change or cease to be true and correct.

______________________________________________

Customer's Name (printed)

X_____________________________________________ ______________________________

Customer's Authorized Signature (and Title if Applicable) Date

If Joint Account:

X ____________________________________________

Customer's Name (printed)

X_____________________________________________ ______________________________

Customer's Authorized Signature (and Title if Applicable) Date

CUSTOMER ACCOUNT APPLICATION ACCOUNT NO. _____________________

________________________________________________________________________________________________________

CUSTOMER 1 CUSTOMER 2 (COMPLETE FOR JOINT, PARTNER ACCOUNTS)

UNDER $25,000 $25,000 TO $50,000 $50,000 TO $75,000

$75,000 TO $100,000 OVER $100,000

UNDER $25,000 $25,000 TO $50,000 $50,000 TO $75,000

$75,000 TO $100,000 OVER $100,000

under $50,000 $50,000 TO $ 100,000 $100,000 TO $250,000

$250,000 TO $500,000 over $500,000

approximate risk capital for futures trading ___________________________

under $50,000 $50,000 TO $ 100,000 $100,000 TO $250,000

$250,000 TO $500,000 over $500,000

approximate risk capital for futures trading ______________________

PLEASE SIGN AND RETURN THE NECESSARY (PAGES 5 &10) AND OPTIONAL SIGNATURE PAGES.

SIGNATURE OF CUSTOMER 1 DATE APPROVAL OF BRANCH OFFICE MANAGER OR I.B. DATE

SIGNATURE OF CUSTOMER 2 DATE APPROVAL OF COMPLIANCE DEPARTMENT DATE

ACCOUNT NUMBER_______________

I , ____________________________________________, do hereby certify that I am the duly elected and acting Secretary of _______________________________ (the "Corporation"), a corporation validity existing under the laws of the State of ___________________________, and I do further certify that the following resolutions were duly adopted by the Board of Directors of the Corporation in accordance with applicable statutes and the Corporation's Charter and By-laws, and that such resolutions have not been rescinded or amended and are now in full force and effect:

WHEREAS, the Corporation has full corporate power and authority under its charter, by-laws and the laws of its domicile to enter into contracts for the purchase, receipt, sale and delivery of commodity futures contracts, commodities and related investment;

NOW THEREFORE, IT IS RESOLVED AS FOLLOWS:

RESOLVED, that it is in the best interest of this Corporation to engage in trading, and otherwise dealing in, commodities, commodity futures contracts and related investment;

FURTHER RESOLVED, that, in order to induce U.S. Securities & Futures Corp. hereinafter referred to ("FCM"), to act as broker on behalf of the Corporation, the execution and delivery of a Customer Agreement, Risk Disclosure Statement Acknowledgment, Disclosure Statement for Non-Cash Margin and Hedge Account Representation Letter is hereby authorized and _______________is hereby directed to execute such Agreements by and on behalf of the Corporation and to deliver the same to FCM, the Corporation hereby ratifying all action of ______________________taken with regard to the account. Further resolved, that, ____________________is authorized to open additional accounts with FCM and to execute the Agreements specified in the previous paragraph by and on behalf of the Corporation necessary to open such additional accounts without the need for further Resolution of the Board of Directors of the Corporation, the Corporation hereby ratifying all action of ______________________taken with regard to opening additional accounts.

X____________________________________ ___________________________

Secretary Date

In addition, in order to induce FCM to accept an account in the name of this Corporation, this Corporation represents, warrants and agrees as follows:

(a) In the event the foregoing resolutions are rescinded or amended at any time, or any of the representations and warrants in the Customer Agreement cease to be true and correct at any time, the Corporation will promptly notify FCM at the address for notices set forth in the Customer Agreement;

(b) The Corporation agrees to indemnify and hold FCM, its successors and assigns, harmless against and from any and all loss, damages or liability incurred because any of the above representations or warranties shall, at any time, not be true and correct or the above Agreements shall not have been fully performed by the Corporation.

X_____________________________________ ___________________________

Corporation Name Date

X_____________________________________

President

I hereby certify that__________________ is _____________________ of ________________________a corporation, that he is duly authorized to execute this Agreement on behalf of the Corporation, and that the above signature is his genuine signature.

X_____________________________________ (Corporate Seal)

Secretary

In order to induce the U.S. Securities & Futures Corp. ("Broker") to enter into the Customer Agreement, to which this Guarantee is attached, with _______________________________________________________, refereed to therein as Customer, and for other good and valuable consideration, the receipt and sufficiently of which is hereby acknowledged, the undersigned hereby, jointly and serially in the case of multiple guarantors personally guarantee(s) the prompt, full and complete performance of any and all of the duties and obligations of Customer and the payment of any and all damages, costs and expenses which may become recoverable by Broker from Customer.

This guarantee shall remain in full force and effect until the termination of the Customer Agreement; provided, however, that the undersigned shall not be released from his/their obligations hereunder so long as any claim of Broker against Customer which claim arises out of or relates to, directly or indirectly, said Customer Agreement, is not settled or discharged in full.

The undersigned hereby expressly waives notice of acceptance hereof, and of nonperformance, in any respect, by Customer of any of its duties or obligations, as aforesaid.

This guarantee shall inure to the benefit of Broker, its successors and assigns, and shall be binding on the undersigned, his/their heirs and assigns.

WITNESS ___________________ ________________________, Individually

as Guarantor

________________________, Individually

as Guarantor

________________________, Individually

as Guarantor

Dated: _______________________

The undersigned ("Customer") agrees that any claim, grievance or controversy arising out of or relating to Customer(s) account, to transactions pursuant to the Customer Agreement or the breach thereof, shall be settled by arbitration in accordance with the rules of the National Futures Association, the American Arbitration Association, or the exchange upon which the transaction giving rise to the claim was executed. If Customer does not make such election by registered mail addressed to U.S. Securities & Futures Corp. ("Broker") at Broker's main office within forty-five days after demand by Broker that Customer make such election, then Broker may make such election. Broker agrees to pay any incremental fees which may be assessed by the forum for the provision of a "mixed panel" of arbitrators, unless the arbitrators determine that Customer has acted in bad faith in initiating or conducting the proceedings. Judgment upon any award rendered by the arbitrators may be entered in any court having jurisdiction thereof. If Customer seeks reparations under Section 14 of the Commodity Exchange Act (the "Act") and the CFTC (defined below) declines to institute reparation proceedings, the claim or grievance will be subject to this arbitration agreement. Any aspects of the claims or grievances that are not subject to the reparations procedures (that is, do not constitute a violation of the Act or rules thereunder) may be required to be submitted to the arbitration procedure set forth in this agreement.

THREE FORUMS EXIST FOR THE RESOLUTION OF COMMODITY DISPUTES: CIVIL COURT LITIGATION, REPARATIONS AT THE COMMODITY FUTURES TRADING COMMISSION (CFTC) AND ARBITRATION CONDUCTED BY A SELF-REGULATORY OR OTHER PRIVATE ORGANIZATION.

THE CFTC RECOGNIZES THAT THE OPPORTUNITY TO SETTLE DISPUTES BY ARBITRATION MAY IN SOME CASES PROVIDE MANY BENEFITS TO CUSTOMERS, INCLUDING THE ABILITY TO OBTAIN AN EXPEDITIOUS AND FINAL RESOLUTION OF DISPUTES WITHOUT INCURRING SUBSTANTIAL COSTS. THE CFTC REQUIRES, HOWEVER, THAT EACH CUSTOMER INDIVIDUALLY EXAMINE THE RELATIVE MERITS OF ARBITRATION AND THAT YOUR CONSENT OT THIS ARBITRATION AGREEMENT BE VOLUNTARY.

BY SIGNING THIS AGREEMENT, YOU: (1) MAY BE WAIVING YOUR RIGHT TO SUE IN A COURT OF LAW; AND (2) ARE AGREEING TO BE BOUND BY ARBITRATION OF ANY CLAIMS OR COUNTERCLAIMS WHICH YOU OR U.S. SECURITIES & FUTURES CORP. MAY SUBMIT TO ARBITRATION UNDER THIS AGREEMENT. YOU ARE NOT, HOWEVER, WAIVING YOUR RIGHT TO ELECT INSTEAD TO PETITION THE CFTC TO INSTITUTE REPARATIONS PROCEEDINGS UNDER SECTION 14 OF THE COMMODITY EXCHANGE ACT WITH RESPECT OT ANY DISPUTE WHICH MAY BE ARBITRATED PURSUANT TO THIS AGREEMENT. IN THE EVENT A DISPUTE ARISES, YOU WILL BE NOTIFIED IF U.S. SECURITIES & FUTURES CORP. INTENDS TO SUBMIT THE DISPUTE TO ARBITRATION. IF YOU BELIEVE A VIOLATION OF THE COMMODITY EXCHANGE ACT IS INVOLVED AND IF YOU PREFER TO REQUEST A SECTION 14 "REPARATIONS" PROCEEDING BEFORE THE CFTC, YOU WILL HAVE 45 DAYS FROM THE DATE OF SUCH NOTICE IN WHICH TO MAKE THAT ELECTION. SEE 17 CFR 180.1-180.5.

YOU NEED NOT SIGN THIS AGREEMENT TO OPEN AN ACCOUNT WITH U.S. SECURITIES & FUTURES CORP.

For Corporate/Partnership For Individual/Joint Accounts

(All account participants must sign)

____________________________________ _________________________________________

Print Name of Corporate or Partnership Signature Date

____________________________________ _________________________________________

Authorized Signature Signature Date

_________________________________ ______________________________________

Print Name & Title Signature Date

Name ________________________________________________________________________________

Address_______________________________________________________________________________

City, State, Zip ________________________________________________________________________

W-9 Section

Enter your taxpayer Identification Number. For ____________________________________

most individuals, this is your Social Security Social Security Number

Number.

____________________________________

Employer Identification Number

______________________________________________________________________________________

Certification -- Under penalties of perjury, I certify that :

(1) The number shown on this form is my correct Taxpayer Identification Number (or I am waiting for a number to be issued to me), and

(2) I am not subject to backup withholding either because I have not been notified by the Internal Revenue Services (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends; or IRS has notified me that I am no longer subject to backup withholding

Certification Instruction -- You must cross out item (2) above if you have been notified by IRS that you are subject to backup withholding because of underreporting interest or dividends on your tax return. However, if after being notified by IRS that you were subject to backup withholding you received another notification from IRS that you are no longer subject to backup withholding, do not cross out item (2)

____________________________________________________________ ____________________________

Signature Date

W-8 Section_____________________________________________________________________________________________

Check here ___________ if this is the account of an EXEMPT FOREIGN PERSON meeting each of the following requirements:

1. You are neither a citizen nor a resident of the United States;

2. You have not been nor plan to be in the United States for a period aggregating 183 or more days during the calendar years; and

3. The gains from your transaction with the broker are not effectively connected (related) to any U.S. trade or business you are engaged in or plan to engage in during the year, or your company has a tax treaty with the United States that exempts your transaction from U.S. taxes.

If your mailing address is within the U.S., please provide your non-United States address below:

Name: _____________________________________________________________________________________________________________

Address: ___________________________________________________________________________________________________________

City, County, Postal Code: _____________________________________________________________________________________________

___________________________________________________________________________________________________________________

Certification:

Under the penalties of perjury, I certify that the information provided on this W-8 form is true, correct, and complete.

____________________________________________ ___________________________________________________

Authorized Signature Print Name & Title Date

Date Sent: __________________________ Receiving Firm

To: Transferring Firm U.S. Securities & Futures Corp.

(Name and Address of Firm from which you are transferring) 100 Wall Street, 11th Floor

New York, NY 10005

(212) 509-8086

Firm Name: ______________________________

Account No.(s): ___________________________

Account Title: ____________________________

Account Address: __________________________

Name of

Introducing Broker: ________________________

In accordance with the National Futures Associate (NFA) Compliance Rule 2-27 please transfer immediately all of the cash balances, open positions, and treasury bills or any collateral in my (our) account to U.S. Securities & Futures Corp.

Very truly yours,

Customer Name(s) Printed Customer Signature(s)

_______________________________ ________________________________

_______________________________ ________________________________

_______________________________ ________________________________

If more than one party - All Parties must sign.