Re: Credit Reserve

Fantastic-landmark deal Rick
William S Bradford|HOU|ECT wrote on 7/28/00 7:33 pm:

Rick,

John, Jim and Brad were instrumental in getting this restructuring done. It
feels good when the process works.

Bill

From: John Suttle
07/28/2000 10:06 AM

To: William S Bradford/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT, Tracey
Irvin/HOU/ECT@ECT, Dutch Quigley/HOU/ECT@ECT
cc: Rick Buy/HOU/ECT@ECT, Bradford Larson/HOU/ECT@ECT, James
Ledlow/HOU/ECT@ECT
Subject: Credit Reserve

Please book a $512,087 USD credit reserve for the following deals:

Deal #: E98254.4 and EA8461.1
Counterparty: Barrett Resources Corporation
Originating Unit: ENA

Description: These are existing transactions that have been restructured to
compensate Enron for assuming credit risk above the contractual credit
lines. The strike prices for each of the transactions were reduced,
resulting in a $512,087 increase in value. The entirety of this value is to
be taken into the Credit Reserve.

Please call me if you have any questions.

Thanks,

John