enovate risk policy

I thought someone from Trading should give this a look.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 10/02/2000 03:37
PM ---------------------------

From: Gregg Penman 10/02/2000 10:56 AM

To: Vladimir Gorny/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron, Richard
Tomaski/Corp/Enron@Enron, Laura Luce/Corp/Enron@Enron
cc:

Subject: enovate risk policy

As you are all aware, Peoples' Board meets this Wednesday to approve the risk
management policy. Peoples met Friday with the Chair of their Audit
Committee to review the policy. Feedback has been positive. The main
concern is that proper reporting and controls are in place to monitor enovate
and protect Peoples' interests. They would like to forward the risk policy,
as complete as possible, to Arthur Andersen for their review prior to the
Board meeting. Attached is the latest draft. In order to expedite the
review, I am forwarding it on without looking at Peoples' additional
comments, in blue, in detail. I would like to have any comments ASAP, but no
later than first thing tomorrow morning. If this doesn't work, please let me
know.

Kay - they have changed some of David's language and I need your input from a
legal/technical point of view as to the substance of their changes.

Vlady - any and all thoughts are greatly appreciated.

Richard and Laura - same goes for you, but I want to make sure you are
comfortable with the rules of the game going forward.

Thanks,

Gregg