Extension Letters for Management Agreements between Citigroup Managed Futures LLC and Various Commodity Pool Managers (2006-2007)
Citigroup Managed Futures LLC sent letters to Campbell & Company, Inc., Willowbridge Associates Inc., Winton Capital Management, and Graham Capital Management, L.P. to extend the terms of their existing management agreements for various commodity pools through June 30, 2007. All other terms of the original agreements remain unchanged. Each manager is asked to acknowledge and accept the extension by signing and returning the letter. The extension ensures continued management of the listed commodity pools under the same conditions for an additional year.
June 30, 2006
Campbell & Company, Inc.
Court Tower Building
210 West Pennsylvania Avenue
Suite 770
Towson, MD 21204
Attn: Ms. Terry Becks
Re: Management Agreement Renewals
Dear Ms. Becks:
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, 2007 and all other provisions of the Management Agreements will remain unchanged.
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• | Smith Barney Potomac Futures Fund L.P. |
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• | Smith Barney Diversified Futures Fund L.P. |
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• | Smith Barney Diversified Futures Fund L.P. II |
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• | Smith Barney Global Markets Futures Fund L.P. |
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• | Salomon Smith Barney Global Diversified Futures Fund L.P. |
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• | Salomon Smith Barney Diversified 2000 Futures Fund L.P. |
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• | CMF Campbell Master 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 McAuliffe at the address above or fax to ###-###-####. If you have any questions I can be reached at ###-###-####.
Very truly yours,
CITIGROUP MANAGED FUTURES LLC

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By: | ![]() | ![]() | /s/ Daniel R. McAuliffe, Jr. Daniel R. McAuliffe, Jr. Chief Financial Officer & Director |
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CAMPBELL & COMPANY, INC.

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By: | ![]() | ![]() | /s/ Theresa Becks |
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Print Name: Theresa Becks
DRMcA/sr
1
June 30, 2006
Willowbridge Associates Inc.
101 Morgan Lane - Suite 180
Plainsboro, N.J. 08536
Attention: Mr Steve R. Crane
Re: Management Agreement Renewals
Dear Mr. Crane:
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, 2007 and all other provisions of the Management Agreements will remain unchanged.
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• | Salomon Smith Barney Orion Futures Fund L.P. |
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• | Smith Barney Diversified Futures Fund L.P. |
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• | Smith Barney Diversified Futures Fund L.P. II |
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• | Citigroup Diversified Futures Fund L.P. |
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• | Citibank NA (Alera 100) |
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• | CMF Institutional Futures Portfolio LP |
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• | CMF Willowbridge Master |
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 ###-###-####. If you have any questions I can be reached at ###-###-####.
Very truly yours,
CITIGROUP MANAGED FUTURES LLC

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By: | ![]() | ![]() | /s/ Daniel R. McAuliffe, Jr. Daniel R. McAuliffe, Jr. Chief Financial Officer & Director |
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By: | ![]() | ![]() | /s/ Steve R. Crane |
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Print Name: Steve R. Crane
DRMcA/sr
2
June 30, 2006
Winton Capital Management
1a. St. Mary Abbot’s Place
Kensington, London W86LS, U.K.
Attention: Mr. Martin Hunt
Re: Management Agreement Renewals
Dear Mr. Hunt:
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, 2007 and all other provisions of the Management Agreements will remain unchanged.
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• | Smith Barney Diversified Futures Fund L.P. |
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• | AURORA 2001 |
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• | AURORA III |
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• | SSB Orion Futures Fund L.P. |
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• | Alera Portfolio Spc |
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• | CMF Winton Feeder LP I |
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• | Citigroup Diversified Futures Fund L.P. |
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• | CMF Winton Master Fund L.P. |
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• | CMF Institutional Futures Portfolio LP |
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 ###-###-####. If you have any questions I can be reached at ###-###-####.
Very truly yours,
CITIGROUP MANAGED FUTURES LLC

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By: | ![]() | ![]() | /s/ Daniel r. McAuliffe, Jr. Daniel R. McAuliffe, Jr. Chief Financial Officer & Director |
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By: | ![]() | ![]() | /s/ Martin Hunt |
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Print Name: /s/ Martin Hunt
DRMcA/sr
3
June 30, 2006
Graham Capital Management, L.P.
Rock Ledge Financial Center
40 Highland Avenue
Rowayton, CT 06853
Attention: Mr. Paul Sedlack
Re: Management Agreement Renewals
Dear Mr. Sedlack:
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, 2007 and all other provisions of the Management Agreements will remain unchanged.
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• | Smith Barney Global Markets Futures Fund |
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• | Smith Barney Diversified Futures Fund L.P. II |
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• | Smith Barney Diversified Futures Fund L.P. |
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• | Salomon Smith Barney Diversified 2000 Futures Fund L.P. |
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• | AURORA 2001 |
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• | AURORA III |
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• | Salomon Smith Barney Fairfield Futures Fund L.P. |
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• | Citigroup Diversified Futures Fund L.P. |
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• | Citigroup Fairfield Futures Fund L.P. II |
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• | Citibank NA (Alera 100) |
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• | Alera Portfolio SPC |
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• | CMF Graham Master 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 McAuliffe at the address above or fax to ###-###-####. If you have any questions I can be reached at ###-###-####.
Very truly yours,
CITIGROUP MANAGED FUTURES LLC
By: /s/ Daniel R. McAuliffe, Jr.
Daniel R. McAuliffe, Jr.
Chief Financial Officer & Director
By: /s/ Paul Sedlack
Print Name: Paul Sedlack
DRMcA/sr