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

June 11, 2001


Rabar Market Research, Inc.
10 Bank St. - Suite 830
White Plains, N.Y. 10606

Attention:  Mr. Paul Rabar

     Re: Management Agreement Renewals

Dear Mr. Rabar:

     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, 2002 and
all other provisions of the Management Agreements will remain unchanged.

o        Salomon Smith Barney Global Diversified Futures Fund L.P.
o        Smith Barney Diversified 2000 Futures Fund

     Please acknowledge receipt of this modification by signing one copy of this
letter and returning it to the attention of Mr. Daniel  McAuliffe at the address
above or fax to  212-723-8985.  If you have any  questions  I can be  reached at
212-723-5435.

Very truly yours,

SMITH BARNEY FUTURES MANAGEMENT LLC


By:       /S/ Daniel R. McAuliffe, Jr.
         ---------------------------------
         Daniel R. McAuliffe, Jr.
         Chief Financial Officer & Director

AGREED AND ACCEPTED

RABAR MARKET RESEARCH, INC.


By:      /S/ Paul Rabar
         ---------------------------------

Print Name:     Paul Rabar
             -----------------------------


DRMcA/sr