Retail Credit

Spoke with Ben Glisan re our conversation on retail credit and concluded that
we should meet with some banks that specialize in this area. Can you prepare
a brief presentation that would serve as a discussion document for such a
meeting. The concept is that a deal flows into a website?? that is basically
a checklist and the transaction is sized and scoped. If it met deal criteria
and portfolio requirements, it would flow directly to an outside shop that
would fund, bill, track etc. Enron could possibly keep a small interest in
economics and of course a skim.

Lets review presentation, then discuss with Ben/Andy and Janet D. and
proceed to banks. Ben is clearing idea with Delaney. We are shooting for a
Friday (23) meeting.

Thanks, Rick