ECT NYMEX Hedge Exemption Applications

To: ECT Officers and Employees
From: Mark Taylor, Vice President and Assistant General Counsel, ECT Legal

We are in the process of preparing applications for position limit exemptions
for ECT's NYMEX energy commodity futures trading. These applications require
that ECT represent whether its officers, employees, owners, or agents have a
power of attorney, control or have a financial interest in any other related
commodity future account(s) either individually or acting with another person
pursuant to express or implied agreement.

Please let me know by the end of business May 31, 1999 if you have any power
of attorney, control or have a financial interest in any commodity futures
account (other than an ECT account).

If you have any questions regarding this matter, please call me at (713)
853-7459, or my paralegal, Tana Jones at (713) 853-3399.

IF YOU DO NOT HAVE A COMMODITY FUTURES ACCOUNT, YOU DO NOT NEED TO RESPOND TO
THIS REQUEST.