In re M/V HAVMANN

----- Forwarded by Richard B Sanders/HOU/ECT on 11/30/2000 11:01 AM -----

Britt Davis@ENRON
11/30/2000 09:35 AM

To: Richard B Sanders/HOU/ECT@ECT
cc:
Subject: In re M/V HAVMANN

Richard,

Please let me know how you want me to answer the question posed at the end of
the attached e-mail.

Britt
----- Forwarded by Britt Davis/Corp/Enron on 11/30/2000 09:32 AM -----

Britt Davis
11/27/2000 08:52 AM

To: Richard B Sanders/HOU/ECT@ECT
cc: Becky Zikes/Corp/Enron@ENRON, Deborah Shahmoradi/NA/Enron@Enron
Subject: In re M/V HAVMANN

Richard,

I have confirmed with David Best this morning that the settlement in this
matter is "done and dusted", to use David's phrase. I have received, and
will shortly send to you, a letter from our underwriters' counsel, confirming
the settlement. Payment will be made within twenty-one days, which means
before year-end. Our barrister and expert have been advised to stop work
immediately. Parenthetically, we were able to avoid becoming liable for the
7,500 pound advance to our barrister that would have otherwise come due last
Friday.

Let me know if you want me to participate in a conference with John Nowlan to
explain our reasons for the settlement. By the way, this finally wraps up
all the M/V HAVMANN arbitration/litigation. Best advises that there is no
one left for us to pursue, and no one left who is pursuing us.

One question: Best wants to know if you want the $475,000 to come directly
to us, or to come to him, and to be disbursed to us by him net of agreed fees
and expenses that we owe. One way or another, I assume that you ultimately
want the money wired to us, but I wonder if you know of a person (or
department) from whom to determine the proper wire transfer account/address.
If not, I am sure that I can find out. Thanks.

Britt