Smith Barney Futures Management LLC 388 Greenwich Street, 7th Floor New York, New York 10013-2396 May 31, 2000 Campbell & Company, Inc. Court Tower Building, Towson 210 West Pennsylvania Avenue Suite 770 Baltimore, MD 212104 Attn: Mrs. Theresa D....

                       ▇▇▇▇▇ ▇▇▇▇▇▇ Futures Management LLC
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                          ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇-▇▇▇▇






May 31, 2000



▇▇▇▇▇▇▇▇ & Company, Inc.
Court Tower Building, Towson
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▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇▇


Attn: ▇▇▇. ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇

         Re:      Management Agreement Renewals

Dear ▇▇▇. ▇▇▇▇▇:

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, 2001and
all other provisions of the Management Agreements will remain unchanged.

                       ▇▇▇▇▇ ▇▇▇▇▇▇ Potomac Futures  Fund L.P.
                       ▇▇▇▇▇ ▇▇▇▇▇▇ Diversified Futures Fund L.P.
                       ▇▇▇▇▇ ▇▇▇▇▇▇ Global Markets Futures Fund
                       ▇▇▇▇▇ ▇▇▇▇▇▇ Diversified Futures Fund ▇.▇. ▇▇
                       ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇.▇. and Energy Fund plc
                       ▇▇▇▇▇ ▇▇▇▇▇▇ Global Diversified Futures Fund L.P.
                       ▇▇▇▇▇ ▇▇▇▇▇▇ Diversified 2000 Futures Fund L.P.



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

Very truly yours,

▇▇▇▇▇ ▇▇▇▇▇▇ FUTURES MANAGEMENT LLC


By:
         ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
         Chief Financial Officer,
         Director & Treasurer

AGREED AND ACCEPTED

▇▇▇▇▇▇▇▇ & COMPANY, INC.


By:

Print Name:


DAD/sr