JM Huber

Gerald,

Can you please let me know where we stand with the execution of the JM Huber
transactions and contracts that is being originated in the Denver office. As
you are aware the first transaction and contract we entered into did not
contain the assignment language for the transportation on a yearly basis.
The second transaction was to include this assignment language. ENA
currently has large exposure from JM Huber for the first transaction because
the assignment contracts have not been signed as of yet, as far as I am
aware. If the contract negotiations are going to continue for an extended
period of time, Credit is going to have to reserve the transactions to cover
this exposure. Please let me know what the status is.

Thank you,
Russell