Equity Forward Contract

Beth Ann: Here's UBS's "redraft" which also requires review. Please call
me in a few hours if I haven't contacted you. Thanks. Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 12/18/2000 02:33 PM -----

Jeff Nogid
12/18/2000 01:58 PM

To: Shackleton Sara, Clint Walden/NA/Enron@ENRON
cc:
Subject: Equity Forward Contract

Sara-

UBS is short on legal staff, Clint asked me to send you their draft to me
marked up. Call me if you have any questions.

Clint-

Please review the UBS draft for any accounting concerns

Jeff Nogid
Enron Global Finance
713-853-4782
----- Forwarded by Jeff Nogid/HOU/ECT on 12/18/00 01:51 PM -----

Jeff Nogid
12/18/00 11:47 AM

To: Clint Freeland/Corp/Enron
cc:
Subject: Equity Forward Contract

Jeff Nogid
Enron Global Finance
713-853-4782
----- Forwarded by Jeff Nogid/HOU/ECT on 12/18/00 11:47 AM -----

Christine.Lee@ubsw.com
12/15/00 04:56 PM

To: jeff.nogid@enron.com
cc:
Subject: Equity Forward Contract

Jeff,

Attached is a draft of the equity forward contract which we believe is
compliant with EITF Issue 00-19. Please have your auditors review it
to determine if this contract should get equity treatment under 00-19.

The document is blacklined against your outstanding equity forward
contract so that you can easily identify the changes.

I'll touch base with you on Monday.

Regards,
Christine

- 12_150~1.DOC

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