Enron Mail

From:tana.jones@enron.com
To:melissa.graves@enron.com
Subject:Need Documents
Cc:rod.nelson@enron.com, peter.keohane@enron.com, nella.cappelletto@enron.com
Bcc:rod.nelson@enron.com, peter.keohane@enron.com, nella.cappelletto@enron.com
Date:Mon, 7 Jun 1999 04:46:00 -0700 (PDT)

In connection with the execution of the new ISDA Master Agreements between
ECT and ECT Canada and PG&E Energy Trading Gas Corporation and PG& E Energy
Trading, Canada Corporation, we, and they, will be issuing new "umbrella"
guarantees that will cover all transactions between the above entities and
also cover EPMI and PG&E Energy Trading - Power, L.P. and CEG Energy Options
Inc. (a PG&E affiliate) These new guarantees will cover all physical,
financial and power transactions between the above parties. I have sent them
the original of my Enron Corp. Guaranty for $105,000,000 and have received in
the original of the PG&E Corporation Guaranty for $100,000,000. Rod is
resolving whether we agreed to increase the Enron Corp. guaranty to $110mm.

In connection with the issuance of the new bilateral guarantees I need to
return to them the originals of the following PG&E guarantees: (1) PG&E
Corporation Guarantee dated as of March 28, 1998 covering business between
Enron Power Marketing, Inc. and PG&E Energy Trading - Power, L.P., (2) PG&E
Corporation Guarantee dated as of June 5, 1998 in favor of Enron Power
Marketing, Inc. covering physical transactions, and (3) PG&E Energy Trading
Corporation Guaranty dated March 11, 1997 covering physical business with ECT
Canada.

I will also be returning to you the returned originals of the Enron Corp.
Prior Guarantees.