Notices to Members

December 9, 2002

Request for Public Director Nominations for NFA's Board of Directors

NFA's Articles of Incorporation ("Articles") provide for five (5) Public Representative positions on NFA's Board of Directors ("the Board"). Article VII, Section 2(c) (ii) defines Public Representatives as "individuals who are not officers, directors, partners, employees or beneficial owners of more than 10 percent of the equity stock of any Member of NFA."

The terms of two (2) current Public Representatives - Thomas W. Ewing and Silas Keehn - are set to expire at the Board's 2003 regular annual meeting. Mr. Ewing is a former U.S. Congressman and is currently of counsel with the law firm of Davis & Harman LLP located in Washington, D.C. Mr. Keehn is past president of the Federal Reserve Bank of Chicago. Mr. Ewing and Mr. Keehn are eligible for reelection. NFA is asking its Members for nominations to fill these vacancies on the Board. At the Board's regular annual meeting, scheduled for Thursday, February 20, 2003, the Board will select from among the nominees two Public Representatives to serve on the Board for two-year terms.

Because public representation on NFA's Board of Directors is an important matter, we ask that you give serious consideration to submitting a nomination to fill these vacancies. All nominations must be received at the address below on or before Monday, January 6, 2003.