Transammonia, Inc.

FINANCIAL:

We have an ISDA Master in place, originally through Transammonia, Inc.,
acting through its division Trammochem. That master has since been expanded
to allow trading through additional divisions, Trammo Gas Division and Trammo
Gas & Petrochemicals Division. All trades and confirms can be done as
follows:

Transammonia, Inc.
Transammonia, Inc. acting though its division Trammochem
Transammonia Inc. acting through its Trammo Gas Division
Transammonia Inc., acting through its Trammo Gas & Petrochemicals Division

Obviously, Transammonia, Inc., the body corporate, needs to always be on the
confirm.

PHYSICAL:

My reports from the other Legal trading groups are that they have no
contracts in place, although it is somewhat unclear on the physical gas side
as to whether Global Contracts as to whether we have any physical gas master
in place.