Smith Barney Futures Management LLC 388 Greenwich Street, 7th Floor New York, New York 10013-2396 May 31, 2000 Willowbridge Associates Inc. 101 Morgan Lane - Suite 180 Plainsboro, N.J. 08536 Attention: Ms. Theresa C. Morris Re: Management Agreement...

                       ▇▇▇▇▇ ▇▇▇▇▇▇ Futures Management LLC
                         ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇
                          ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇-▇▇▇▇

May 31, 2000



Willowbridge Associates Inc.
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ - ▇▇▇▇▇ ▇▇▇
▇▇▇▇▇▇▇▇▇▇, ▇.▇. ▇▇▇▇▇

Attention:  ▇▇. ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇

         Re:      Management Agreement Renewals

Dear ▇▇. ▇▇▇▇▇▇:

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.

                       ▇▇▇▇▇ ▇▇▇▇▇▇ Principal Plus Futures Fund ▇.▇. ▇▇
                       ▇▇▇▇▇ ▇▇▇▇▇▇ Diversified Futures Fund L.P.
                       ▇▇▇▇▇ ▇▇▇▇▇▇ Diversified Futures Fund ▇.▇. ▇▇
                       BBK Global  Futures Fund

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

Very truly yours,

▇▇▇▇▇ ▇▇▇▇▇▇ FUTURES MANAGEMENT LLC


By:
         ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
         Chief Financial Officer,
         Director & Treasurer








AGREED AND ACCEPTED

WILLOWBRIDGE ASSOCIATES, INC.




DAD/sr