RE: Cresendo

Louise,

I am meeting with Scott Josey on Thursday regarding Crescendo. I am going to propose to him that all of Crescendo goes into ECR and he reimburses Upstream Products for incurred capital charges for 2001. Since ECR is utilizing Nick Cocavessis's technical services organization for all infrastructure needs and he reports to Brian Redmond, Upstream Products would not be charging ECR a fee. The technical services organization is commercial support for Enron Americas.

I have spoken to Brian and he is fine with my proposal. In addition, Josey and I have had a brief conversation and on Thursday, I expect to be negotiating details.

Regards, Jean

-----Original Message-----
From: Kitchen, Louise
Sent: Tuesday, April 17, 2001 11:21 AM
To: Mrha, Jean
Subject: Cresendo

Bearing in mind this 35%:65% split - how about we put it all in ECR and then you charge them a fee for all work you do on it.

Thoughts?