Proposed Term Sheet for Credit Protection Derivative

Angela: Please let me know how you want to proceed. Thanks. Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 12/13/2000 08:33 AM -----

Lisa Mellencamp
12/12/2000 06:09 PM

To: Sara Shackleton/HOU/ECT@ECT, Angela Davis/NA/Enron@Enron
cc:
Subject: Proposed Term Sheet for Credit Protection Derivative

Lisa J. Mellencamp
Enron North America Corp.
1400 Smith St.
Houston, TX 77002
Tel: (713) 853-7986
Fax: (713) 646-3393
E-mail: Lisa.Mellencamp@enron.com
----- Forwarded by Lisa Mellencamp/HOU/ECT on 12/12/2000 06:09 PM -----

Brad Alford
12/12/2000 05:24 PM

To: Lisa Mellencamp/HOU/ECT@ECT
cc:
Subject: Proposed Term Sheet for Credit Protection Derivative

fyi....
---------------------- Forwarded by Brad Alford/ECP/HOU/ECT on 12/12/2000
05:24 PM ---------------------------

From: Lewis Worthy 12/12/2000 10:26 AM

To: hopkinst@epenergy.com, fieldd@epenergy.com
cc: Brad Alford/ECP/HOU/ECT@ECT, Christopher Coffman/Corp/Enron@Enron, Brian
Kerrigan/HOU/ECT@ECT, Joseph Deffner/HOU/ECT@ECT, Akasha
Redrick/Corp/Enron@Enron

Subject: Proposed Term Sheet for Credit Protection Derivative

Here are the proposed terms for the credit protection derivative. Please
call me at 713-853-4313 with any questions.

Thanks,

Lewis