ISDA International Swaps and Derivatives Association, Inc.
600 Fifth Avenue
Rockefeller Center - 27th floor
New York, NY 10020
Phone: (212) 332-1200
Facsimilie: (212) 332-1212


MEMO TO:  ISDA Credit Derivatives Market Practice Committee

FROM:   Louise Marshall, ISDA New York, Katia D'Hulster,
ISDA London

DATE:   May 21, 2001

RE:   New G6

At the May 8 meeting of the ISDA Credit Derivatives Market Practice
Committee, and subsequently at a May 15 meeting of the European Committee,
the following Group of Six (G6) members were elected to take forward the
Committee's work:

Dealers
NA - Mike Pohly, Morgan Stanley  michael.pohly@morganstanley.com
Eur - Pierre Mathieu, BNP Paribas
pierre.g.mathieu@bnpparibas.com

End-users/risk-takers
NA - Craig Welch, Ambac   cwelch@ambac.com
Eur - Eric Rothman, Ace Guaranty  erothman@aceguarantyre.com

Bank portfolio managers
NA - Hetty Harlan, BofA   hetty.harlan@bankofamerica.com
Eur - Cameron Munro, NAB
cameron.munro@eu.nabgroup.com

The new G6 will have its first call on Tuesday, May 22. Agenda items will be
prioritized and circulated to the whole committee. Please be sure to
identify your constituency representatives and to be aware of any resulting
communications from them. The efficiency of this process is dependent on the
input of all constituents. If you do not receive materials from your
representative, please contact him or her directly to ensure appropriate
representation.

NB: The Restructuring Supplement To the 1999 ISDA Credit Derivatives
Definitions, which is now in effect, is available on the ISDA Website
(www.isda.org).

Any questions or comments may be directed to Louise Marshall at ISDA New
York (lmarshall@isda.org) or Katia D'Hulster at ISDA London
(kdhulster@isda-eur.org).