0000950136-05-001779 Sample Contracts

Re: Management Agreement Renewals
Management Agreement • March 31st, 2005 • Shearson Lehman Select Advisors Futures Fund L P • Real estate investment trusts

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, 2005 and all other provisions of the Management Agreements will remain unchanged.

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