In the week of March 13, 2000, the Company entered into put options with Merrill Lynch to sell Euro 79.0 million for $75.1 million on May 26, 2000. The contracts were purchased to limit the Company's exposure on the call option described above against a fall of the Euro below $0.95.  The Company was re q u i red to cash collateralize the net fair value of such options contracts measured on a mark-to-market basis, and on May 26, 2000, the Company had on deposit $8.3 million with Merrill Lynch.  On May 26, 2000, the rate of the Euro was $0.9118 and the Company settled the above option contracts in the amount of $8.3 million resulting in a total net loss on such contracts of $10.3 million inclusive of the cost of the contracts. At December 31, 2000, the Company had not entered into any further option contracts.  The Company leases many of its ATMs under capital lease agreements that expire between 2001 and 2005 and bear interest at rates  between 8% and 12%. Lease installments are paid on a monthly, quarterly or semi-annual basis. Euronet has the right to extend the  t e rm of certain leases at the conclusion of the basic lease period.  D e p reciation of assets held under capital leases amounted to $2.0 million, $2.1 million, and $2.9 million for the years ended December 31, 2000, 1999, and 1998, re s p e c t i v e l y, and is included in depreciation and amortization expense.  The Company also has noncancelable operating rental leases for office space which expire over the next 3 to 9 years. Rent expense under  these leases amounted to $1.4 million, $2.1 million, and $1.1 million for the years ended December 31, 2000, 1999, and 1998,  re s p e c t i v e l y.  F u t u re minimum lease payments under the capital leases and the noncancelable operating lease (with initial or remaining lease terms in  excess of one year) as of December 31, 2000 are:  3 6 (15) Leases  (a) Capital leases  (b) Operating leases  (c) Future minimum lease payments  2 0 0 0 1 9 9 9 (in thousands) AT M ’s $ 1 3 , 9 2 4. $ 1 8 , 0 2 7. O t h e r 3 6 6. 7 6 8. $ 1 4 , 2 9 0. $ 1 8 , 7 9 5. Less accumulated amort i z a t i o n (3,429)  ( 4 , 8 1 3 ) Net book value $ 1 0 , 8 6 1. $ 1 3 , 9 8 2. C a p i t a l O p e r a t i n g L e a s e s L e a s e s (in thousands) Year ending December 31, 2 0 0 1 5 , 1 3 7 . 1 , 3 1 5 2 0 0 2 4 , 4 7 0 . 1 , 0 4 9 2 0 0 3 2 , 9 5 1 . 7 7 9 2 0 0 4 1 , 5 1 2 . 5 1 5 2 0 0 5 3 6 3 . 5 1 5 2006 and there a f t e r —. 8 2 Total minimum lease payments 1 4 , 4 3 3 . Less amounts re p resenting intere s t ( 2 , 9 3 3 ) P resent value of net minimum capital  lease payments 1 1 , 5 0 0 . Less current installments of obligations  under capital leases ( 3 , 4 6 6 ) Long term capital lease obligations $ 8 , 0 3 4. . The gross amount of the ATMs and computer equipment and related accumulated amortization re c o rded under capital leases were as  follows: December 31,