Dear Participant

You are receiving this email because you have been identified by your
company as the User Administrator, Legal Counsel, and/or Signatory to the
IntercontinentalExchange Participant Agreement.  This serves as notice of
Intercontinental's intent to amend the Agreement effective December 1, 2001.
Relevant documentation is attached and includes contact information if you
have any questions.  Thank you.

IntercontinentalExchange, Inc.

 <<PA Amend Cover Letter1.doc>>  <<Participant Agreement - Dec 1, 2001.doc>>
 <<PARTICIPANT AGREEMENT - COMPARE.DOC>>