June 1, 1999



Campbell & Co. Inc.
210 West Pennsylvania Avenue
Baltimore, MD 21204

Attention: Ms. Terry Livesey

RE:      Management Agreement Renewal
         SSB Global Diversified Futures Fund L.P.

Dear Ms. Livesey:

We are  writing  with  respect  to  your  management  agreement  concerning  the
commodity pool to which reference is made above (the "Management Agreement"). We
would like to extend the term of the Management  Agreement through June 30, 2000
and all other provisions of the Management Agreement will remain unchanged.

Please indicate your agreement to and acceptance of this modification by signing
one copy of this letter and returning it to the attention of Mr. Daniel Dantuono
at the address above or fax to 212-723-8985.  If you have any questions I can be
reached at 212-723-5416.

Very truly yours,

SMITH BARNEY FUTURES MANAGEMENT INC.



By:
         Daniel A. Dantuono
         Chief Financial Officer,
         Director & Treasurer

AGREED AND ACCEPTED

CAMPBELL & CO. INC.


By:


Print Name:

DAD/sr