RE:

Dan,

This was the reaction that I just got from SMUD. I am assuming that we
didn't incorporate any of their language, which is fine. It would just be a
point of discussion if I could point out that we were working with their
language.

Thanks,

Kim
---------------------- Forwarded by Kim Ward/HOU/ECT on 03/12/2001 05:14 PM
---------------------------

Calvin Miller <cmiller@smud.org< on 03/12/2001 03:15:47 PM
To: "'Kim.Ward@enron.com'" <Kim.Ward@enron.com<
cc:
Subject: RE:

Kim-

I received your e-mail. I did not know that you were sending "your Master
Agreement". I'm not sure as to when I will be able to give a "new" review
of this agreement.

Calvin

-----Original Message-----
From: Kim.Ward@enron.com [mailto:Kim.Ward@enron.com]
Sent: Monday, March 12, 2001 2:32 PM
To: cmiller@smud.org
Subject:

Calvin,

Attached is a draft copy of our Master Firm Physical Gas Agreement.
Please let me know what I can do to help facilitate the process required to
get this in place.

Thanks,

Kim

(See attached file: SMUD_enfolio_draft1_Mar_12.doc)