Assignment of Irving Pulp Master ISDA Agreement

Would you please prepare and coordinate with Jeff Harbert? Thanks. Sara
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 10/11/99 02:36
PM ---------------------------

Enron North America Corp.

From: Jeff Harbert 10/06/99 04:14 PM

To: Sara Shackleton/HOU/ECT@ECT
cc: Bryan Burnett/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT, Dale
Neuner/HOU/ECT@ECT, Bob Crane/HOU/ECT@ECT, Edward Ondarza/HOU/ECT@ECT,
Christopher F Calger/CAL/ECT@ECT
Subject: Assignment of Irving Pulp Master ISDA Agreement

Sara,

If appears from discussions with Mark Bettle today that interest levels at
the top management of J.D. Irving is minimal to consolidate business under
one master ISDA agreement. As a result it seems prudent to move forward to
assign the current Enron Canada master ISDA agreement over to Enron North
America.

From my earlier conversations with Bryan Burnett he would support this
decision. I have not spoken personally with the originator of the Enron
Canada master ISDA, Chris Calger, but it is my understanding he would also
support this move.

Would you please take steps to get this done as soon as possible.

If there are any questions, please call.

JH.