US MTBE Fin Swap

Tana/Karen:

The product long description described below will fall under the new product
type US MTBE Fin Swap. Tom Moran has approved copying the profiles for the
new product type from the following:

US Jet Kero Financial Swap

Please respond no later than 10 a.m. on Wednesday, December 13.

Thank you.
---------------------- Forwarded by Lisa Lees/HOU/ECT on 12/12/2000 01:36 PM
---------------------------

Enron North America Corp.

From: Kevin Meredith @ ENRON 12/11/2000 01:34 PM

To: Mark Taylor/HOU/ECT@ECT, Jeff Blumenthal/HOU/ECT@ECT, Stephen H
Douglas/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Rudi Zipter/HOU/ECT@ECT, Bjorn
Hagelmann/HOU/ECT@ECT, John Swinney/HOU/ECT@ECT
cc: Lisa Lees/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Melba
Lozano/HOU/ECT@ECT, Jason Althaus/Corp/Enron@Enron, Robert B
Cass/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT
Subject: NEW ENRONONLINE PRODUCT - PLEASE APPROVE

Your review and approval of the following two product type in the EOL
Datamanager is needed (for directions on approval , please see steps for
approval at the bottom of this e-mail).

Trader: Larry Gagliardi

Note: The actual Sigma Factor for this product is $1.62. Once the product
has been approved, the existing Sigma Factor will be corrected.

Example:

US MTBE Swap Platts GC WB Mo/Yr USD/Gl-b

New Product TypeCommodity:
Product Type: US MTBE Fin Swap
Commodity: MTBE
Currency: USD
Default UOM: Barrels
Country: USA

Financial Description :
A US Methyl Tertiary Butyl Ether (M.T.B.E.) financial Swap Transaction with
Enron North America Corp. under which the Seller pays a Floating Price and
the Buyer pays the price submitted by Counterparty on the website (the Fixed
Price) in each case in respect of the Notional Quantity per Determination
Period. The Notional Quantity per Determination Period shall be the volume
submitted by Counterparty on the website. Each calendar month during the term
of the Transaction will be a Determination Period; provided, that in the
event the term of the Transaction is less than one month, the term of the
Transaction shall be the Determination Period. The Payment Date(s) will be 5
business days after the Floating Price is determinable. The Floating Price
shall be the Index for the relevant Determination Period.

The term of the Transaction shall be from the Effective Date of 01 Dec 2000
to the Termination Date of 31 Dec 2000.

The Index for a Determination Period shall be the arithmetic average of the
mean of the daily high and low quotations for M.T.B.E. located in the talbe
entitled "Product Price Assessments: U.S. Gulf Coast: Waterborne: c/Gal:
MTBE" for those issues of Platt's Oilgram Price Report published for the
applicable Determination Period.

The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency.

The unit of measure against which the price is quoted shall be gallons and
the volume shown shall be in total number of Barrels (42 US Gallons) per
month.

==============================================================================
=====
STEPS FOR APPROVAL:

click the START button
select PROGRAMS
select TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up
TO APPROVE: Right mouse click on "Approved"

Thanks - Rob Cass - Melba Lozano - Kevin Meredith
x35491 x58986 x39555