BRS Accomplishments

---------------------- Forwarded by Rob G Gay/NA/Enron on 12/08/2000 02:40 PM
---------------------------

Brian Swinford
11/27/2000 09:42 PM
To: Rob G Gay/NA/Enron@Enron
cc:

Subject: BRS Accomplishments - 2000

Rob, listed below are my key accomplishments for 2000:

1) TGS:

-Key member of TGS Finance Committee; attended quarterly meetings,
participated in major financing decisions and made recommendations to TGS
and/or ESA management.

-During 2000, assisted TGS finance staff in refinancing $300MM of
non-recourse debt in two separate transactions; a 3 year $150MM bank FRN,
and a 3 year $150MM Eurobond issue. Role included helping evaluate lead
arranger proposals and term sheets, selecting lead arrangers and participants
and participating in road shows representing Enron sponsorship. Successfully
raised $300MM during a very challenging time in Argentina as well as a very
difficult time for the U.S. capital markets (i.e., Eurobond completed
immediately following the largest single drop in history of the NASDAQ).

2) TRANSREDES:

a) $10MM Liquidity Facility: Lead approval and documentation effort for
$10MM Enron-provided credit facility to provide liquidity for oil spill clean
up expenditures and Cuiaba construction cash calls. Prepared DASH, managed
approval process wtih RAC and TRSA management, and lead documentation to
closure. Loan was successfully repaid with proceeds from the Cuiaba buy-out
transaction. Credit facility allowed TRSA to avoid a severe liquidity crisis
which could have stopped the clean up process and put its concession from the
Bolivian government at risk.

b) Buy-out of TRSA's interests in the Cuiaba Project: Selected for lead role
in Enron's buy out of 50% of TRSA's interest in the Cuiaba Project for $40MM
(Enron's share). Prepared DASH and ESA risk committee and Enron Corp. board
presentations, worked with RAC to obtain approval for transaction and
coordinated legal documentation process with counsel (internal and external)
and partners (Shell as co-buyer, TRSA as seller).

Buy-out transaction restored much needed liquidity to TRSA's balance sheet
and permitted Enron and Shell to move ahead on the Cuiaba financing without
having to guarantee TRSA's pro-rata share of contingent sponsor support
required by the Cuiaba lenders. Restored liquidity to TRSA will permit it to
meet its working capital needs until May 2001 when its new tariffs become
effective (post Transition period).

c) Cuiaba Contingent Sponsor Support: In coordination with TRSA/Cuiaba
buy-out effort, assisted Cuiaba team in obtaining approval of contingent
sponsor support for OPIC/KfW financing. Prepared DASH and worked with RAC to
obtain internal approval and assisted in preparing ESA risk committee and
Enron Corp. board presentations. Contingent support package along with
buy-out transaction was approved by Enron's board.

c) Financial Advisory Assignment:

Selected by TRSA and ESA management to work with TRSA in a financial advisory
capacity, to advise and assist in the arrangement of up to $700MM in new
third party debt over the next 4 years to finance TRSA capital expansion
program. In exchange for such services ESA began receiving a $12,500/month
retainer fee (October 2000 - May 2001 = $100,000 of fee income) plus the
reimbursement of all out-of-pocket expenses.

Roadshow with U.S. Exim, Bolivian pension funds, local banks and
international banks with local presence and CAF now completed. Assisting
TRSA management with resolution of Supreme Decree and Tariff Reset and
existing debt seniority issue.

GTB:

a) Financial Advisory Assignment: Selected by GTB and ESA management to work
with GTB in a financial advisory capacity, to advise and assist in the
arrangement of up to $210MM in new third party debt over the next 4 years to
finance GTB's capital expansion program. In exchange for such services, ESA
began receiving a $12,500/month retainer fee (October 2000 - May 2001 =
$100,000 of fee income) plus the reimbursement of all out-of-pocket
expenses.

Roadshow with U.S. Exim, Bolivian pension funds, local banks and
international banks with local presence and CAF now completed. Letter of
Interest obtained from U.S. Exim. Working with GTB management to finalize
credit rating process and clean up commercial contracts for financing.

TRAINING: Completed Executive Impact training course (requirement for 2000).

In the event you did not receive the amount of manager/peer feedback that you
would like to see to prepare my review, I do have the feedback booklet that I
got recently from the Executive Impact course that you could use. I have it
in my office...I can have Blanca get it for you if you want to see it.

Thanks for your support.

BRS