Smith Barney Futures Management LLC 388 Greenwich Street, 7th Floor New York, New York 10013-2396 May 31, 2000 Rabar Market Research, Inc. 10 Bank St. - Suite 830 White Plains, N.Y. 10606 Attention: Mr. Paul Rabar Re: Management Agreement Renewals...

                       Xxxxx Xxxxxx Futures Management LLC
                         000 Xxxxxxxxx Xxxxxx, 0xx Xxxxx
                          Xxx Xxxx, Xxx Xxxx 00000-0000






May 31, 2000



Rabar Market Research, Inc.
00 Xxxx Xx. - Xxxxx 000
Xxxxx Xxxxxx, X.X. 10606

Attention:  Xx. Xxxx Xxxxx

      Re:   Management Agreement Renewals

Dear Xx. Xxxxx:

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, 2001and
all other provisions of the Management Agreements will remain unchanged.

                Xxxxx Xxxxxx Principal Plus Futures Fund X.X.
                Xxxxx Xxxxxx Diversified Futures Fund X.X.
                Xxxxxxx  Xxxxx Xxxxxx Global  Diversified  Futures Fund
               L.P.
                BBK Global  Futures Fund
                BBK Global Futures Plus Fund
                Xxxxx Xxxxxx Diversified 2000 Futures Fund





May 31,  2000
Page 2



Please  acknowledge  receipt of this  modification  by signing  one copy of this
letter and returning it to the  attention of Xx. Xxxxxx  Xxxxxxxx at the address
above or fax to  000-000-0000.  If you have any  questions  I can be  reached at
000-000-0000.

Very truly yours,

XXXXX XXXXXX FUTURES MANAGEMENT LLC


By:
      Xxxxxx X. Xxxxxxxx
      Chief Financial Officer,
      Director & Treasurer

RECEIVED

RABAR MARKET RESEARCH, INC.


By:

Print Name:


DAD/sr

                  Xxxxx Xxxxxx Futures Management LLC
                    000 Xxxxxxxxx Xxxxxx, 0xx Xxxxx
                     Xxx Xxxx, Xxx Xxxx 00000-0000

May 31, 2000



Fort Orange Capital Management, Inc.
000 Xxxxx Xxxxxx
Xxxxxx, Xxx Xxxx 00000

Attention:  Xx. Xxxxxxx Xxxxxxxx

      Re:   Management Agreement Renewals

Dear Xx. Xxxxxxxx:

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, 2001and
all other provisions of the Management Agreements will remain unchanged.

                Xxxxx Xxxxxx Principal Plus Futures Fund X.X.
                Xxxxxxx Xxxxx Xxxxxx Orion Futures Fund L.P.

Please  acknowledge  receipt of this  modification  by signing  one copy of this
letter and returning it to the  attention of Xx. Xxxxxx  Xxxxxxxx at the address
above or fax to  000-000-0000.  If you have any  questions  I can be  reached at
000-000-0000.

Very truly yours,

XXXXX XXXXXX FUTURES MANAGEMENT LLC


By:
      Xxxxxx X. Xxxxxxxx
      Chief Financial Officer,
      Director & Treasurer

By:

Print Name:

DAD/sr