From:     Infovest21 News Provider

Service[SMTP:NEWSPROVIDER@INFOVEST21.COM]

Sent:     Thursday, February 26, 2004 5:48:32 PM

Subject:     Niederhoffer investors receive check in the mail

A former investor in Niederhoffer Investments pleasantly reported that

he had just received a check from Victor Niederhoffer. Niederhoffer

passed through the settlement he made with the Chicago Mercantile

Exchange to investors.

On October 27, 1997, Niederhoffer, who had been trading S&P 500 options,

received a $50 million margin call when the Dow Jones Industrial Average

fell 554 points. He was forced to liquidate after the market plummet.

Niederhoffer said he had a disagreement with the Chicago Mercantile

Exchange on the settlement of prices on October 27, 1997. He pursued and

reached an amicable settlement with the exchange. He gave the money to

the investors. Niederhoffer said it had been a few million dollars.

The initial suit had been filed by Niederhoffer, Niederhoffer

Investments and several commodity pools controlled by Niederhoffer in

May 1999. The exchange was accused of failing to enforce rules

establishing settlement prices on specific dates, leading to

Niederhoffer, the pools and their futures commission merchants to suffer

at least $105 million in damages.