Most Recent Version of the Master Agreement and Transaction

Cc: tanya.rohauer@enron.com, mark.breese@enron.com
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Paul,

Attached is the most recent versions of the above-referenced agreements which
incorporates the changes you negotiated with our Credit Department. There
was one additional change to the Master Agreement to Section 4.2(ix). I have
also attached the letter agreement which cancels the physical gas deals for
April. Please review and give me your comments.

Stacy