Open Items and Price Curve Explanation

I now have the deal tickets for N60753.4 & .6.

Thanks,

Errol McLaughlin
---------------------- Forwarded by Errol McLaughlin/Corp/Enron on 02/07/2001
10:55 AM ---------------------------

Errol McLaughlin
02/07/2001 10:53 AM
To: Sharon Smith/AA/Corp/Enron@ENRON
cc: Mark C Austin/AA/Corp/Enron@ENRON

Subject: Open Items and Price Curve Explanation

Sharon,

I have the confirmations on my desk for the deals that you requested, with
the exception of two deals. Deal N60753.4 and N60753.6 were booked to change
an existing deal (N60753.3) from a financial swap to a physical forward. We
will have the paperwork on those two deals after lunch -- we're getting them
from the Structuring group.

The NG price curve, outside of the first 36 months, is set based on market
quotes and daily activity, as well as trend calculations and differentials.

I will let you know as soon as I have the confirms for the other two deal.

Thanks,

Errol McLaughlin