Competition Law Seminar

Sorry. On point 4 below my preference is for the former not the latter.
i.e. My preference is for Rob and Aleck to roll their presentation into the
Blakes presentation so that we have one presentation in each of Calgary and
Toronto, rather than two.
---------------------- Forwarded by Peter Keohane/CAL/ECT on 09/07/2000 09:57
AM ---------------------------

Enron Capital & Trade Resources
Canada Corp.

From: Peter Keohane 09/07/2000 09:32 AM

To: Rob Milnthorp/CAL/ECT@ECT
cc: Mark E Haedicke/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Aleck
Dadson/TOR/ECT@ECT, Robert Hemstock/CAL/ECT@ECT, Dan Dietrich/CAL/ECT@ECT,
Greg Johnston/CAL/ECT@ECT, Chris Gaffney/TOR/ECT@ECT, Mark
Powell/CAL/ECT@ECT, dpef@blakes.com, dwm@blakes.com
Subject: Competition Law Seminar

Milly, as I mentioned to you, various developments in different markets have
led to a corporate wide initiative to initiate traders and originators into
competition law, market surveillance and market rule restrictions and
limitations on trading and origination activities. Sullivan and Cromwell is
preparing the seminar in the US and Blakes is preparing the seminar for
Canada. The purpose of this note is to advise of the seminar and to the
following:

1. The seminar requires mandatory attendance of all traders and originators
in Calgary and Toronto. I will prepare the notice, but I will want to rely
on you as necessary to ensure that everyone attends.

2. We are planning the seminar for one of the first two weeks in October
from 4:00 to 6:00 on a designated afternoon at the Bankers' Hall Auditorium
in Calgary and at Blakes main boardroom in Toronto. Dates are to be
confirmed. I will likely attend at the Toronto seminar, but otherwise the
two seminars will be staffed by Blakes by a local partner in Calgary and
Toronto respectively.

3. We would like to videotape the Calgary seminar and then somehow download
that to the intranet for mandatory review by new employees, and I will need
Dan's assistance for this. I know Houston is working on this for the US
seminar and we can likely follow their procedure.

4. With respect to market rules, the focus will have to be on Ontario
(power) and Alberta (power and if applicable gas). It is attended that Aleck
(Ontario) and Rob (Alberta) would prepare and present these portions of the
seminar. There are two alternatives: Aleck and Rob could co-ordinate a
presentation into the Blakes presentation, or we could have separate seminars
on market rules. My preference is for the latter as it will consolidate the
issues and be the best use of time, altough it may be too much fir one
seminar. By copy to Mark I would appreciate your thoughts and you may want
to speak to Rick Shapiro to ensure that he is on side.

Peter.