NGX Settlement

I spoke to NGX's counsel this morning. Frankly, he was not as sanguine as I
would have hoped on two issues: (i) The non-compete - he was of the view
that although NGX had agreed, Enerdata had and may not. I told him he needed
to do his best to convince Enerdata, as we would not move on this point.
(ii) Certain of the criteria for inclusion - I told him we could not agree
to any criteria that indirectly or directly restricted the form of products
we transact on EOL, the times that EOL is available for trading, or which
provide NGX the discretion to exclude our data once the lawsuit is released.
He is going to speak to his clients and get back to me over the next couple
of days. I did take the posture that we tired of negotiating the matter and
that I did not have room to move on these issues. Peter.
---------------------- Forwarded by Peter Keohane/CAL/ECT on 04/03/2001 11:06
AM ---------------------------

Enron Capital & Trade Resources
Canada Corp.

From: Peter Keohane 04/02/2001 11:57 AM

To: John J Lavorato/Corp/Enron, Rob Milnthorp/CAL/ECT@ECT, Mark E
Haedicke/HOU/ECT@ECT
cc:
Subject: NGX Settlement

I provided my comments on the most recent drafts, deleting the non-compete
entirely. I have a call with NGX's lawyer tomorrow at 9:00a.m. I will let
you know if there are any problems other than drafting. Peter.