MEH Risk Management Policy

Here's the Risk Management Policy Gregg has been working on for MEH.

Jeff, I don't know if you have seen this, so I thought I would float it by
you.

David, I'm sending it to you so that you can comment about any concerns you
might have relating to the LLC agreement.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 08/15/2000 09:45
AM ---------------------------

From: Gregg Penman 08/15/2000 09:34 AM

To: j.pokorny@pecorp.com, m.nordstrom@pecorp.com, k.classen@pecorp.com,
w.morrow@pecorp.com, Paul Burgener/Corp/Enron@ENRON, Laura
Luce/Corp/Enron@Enron, Ted Murphy/HOU/ECT@ECT, Vladimir Gorny/HOU/ECT@ECT,
Janet R Dietrich/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, Richard
Tomaski/Corp/Enron@Enron, Tim Hermann/Corp/Enron@ENRON, Kay
Mann/Corp/Enron@Enron
cc:

Subject: MEH Risk Management Policy - Revised

The attached MEH Risk Management Policy includes one additional revision to
yesterday's draft. Please disregard yesterday's version. This is the
version that should be reviewed for comments or questions.

Thanks,

Gregg