Smith Barney Futures Management LLC 388 Greenwich Street, 7th Floor New York, New York 10013-2396 May 31, 2000 Stonebrook Capital Management, Inc. 17 State Street - 38th Floor New York, N.Y. 10004 Attention: Mr. Jerome Abernathy Re: Management...

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

May 31, 2000


Stonebrook Capital Management, Inc.
00 Xxxxx Xxxxxx - 00xx Xxxxx
Xxx Xxxx, X.X. 00000

Attention:  Xx. Xxxxxx Xxxxxxxxx

         Re:      Management Agreement Renewals

Dear Xx. Xxxxxxxxx:

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 Diversified Futures Fund L.P.
                       Xxxxx Xxxxxx Diversified Futueres Fund X.X. XX
                       Xxxxx Xxxxxx Stonebrook FX Fund plc.
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



AGREED AND ACCEPTED

STONEBROOK CAPITAL MANAGEMENT, INC.

DAD/sr