ISDA International Swaps and Derivatives Association, Inc.
600 Fifth Avenue
Rockefeller Center - 27th floor
New York, NY 10020
U.S.A.
Phone: (212) 332-1200
Fax: (212) 332-1212
Website: www.isda.org


M E M O R A N D U M



TO:		ISDA Credit Derivatives Market Practice Committee 

FROM:	Louise Marshall (lmarshall@isda.org); Katia D'Hulster
(kdhulster@isda-eur.org)

DATE:		December 4, 2001

RE:		Emerging Markets Subcommittee - Response Requested



Please note that ISDA is in the process of forming an Emerging Markets
Subcommittee of the Credit Derivatives Market Practice Committee. 

Anyone interested in joining this subcommittee should forward FULL details
to Scott Marra at this return address by COB, Monday December 10.