Enron Mail

From:susan.flynn@enron.com
To:stolfi_michael@jpmorgan.com, steuart_henry@jpmorgan.com
Subject:ISDA Master Agreement between ENA and Morgan Guaranty Trust Company
Cc:
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Date:Fri, 26 May 2000 02:13:00 -0700 (PDT)

Cc: jeff.nogid@enron.com, sara.shackleton@enron.com, rod.nelson@enron.com
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Attached for your review and comment is a draft of the Schedule and Credit
Support Annex to the referenced agreement. It is our intention to replace
the existing Master Energy Price Swap Agreement dated as of May 28, 1992
between Enron Risk Management Services Corp. (now known as Enron North
America Corp.) and Morgan Guaranty (the "Existing Master Agreement") with
the ISDA Master Agreement. Under the exisiting Master Agreement, Enron
Corp. executed a $50,000,000 Guaranty in favor of Morgan Guaranty. The
draft ISDA Master Agreement includes our updated form of Guaranty. We can
either amend the exisiting form of Guaranty or amend and restate the
exisiting Guaranty with our updated form of Guaranty.

Should you have any questions or comments, please call either Sara
Shackleton (attorney) at (713) 853-5620 (email address:
sara.Shackleton@enron.com) or me (paralegal) at (713) 853-0975 (email
address: susan.flynn@enron.com). We look forward to hearing from you.