Smith Barney Futures Management LLC
                         388 Greenwich Street, 7th Floor
                          New York, New York 10013-2396

May 31, 2000



Eagle Trading Systems, Inc.
47 Hullfish Street - Suite 410
Princeton, N.J. 08542

Attention:  Mr. Menachem Sternberg

         Re:      Management Agreement Renewal

Dear Mr. Sternberg:

We are  writing  with  respect  to  your  management  agreement  concerning  the
commodity pool to which reference is made below (the "Management Agreement"). We
are extending the term of the Management Agreement through June 30, 200 and all
other provisions of the Management Agreement will remain unchanged.

                       Salomon Smith Barney Global Diversified Futures Fund L.P.
Please  acknowledge  receipt 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 LLC


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

By:
AGREED AND ACCEPTED

EAGLE TRADING SYSTEMS, INC.



DAD/sr