Re: CMS Marketing, Services and Trading Company

---------------------- Forwarded by Sara Shackleton/HOU/ECT on 01/14/2000
09:54 AM ---------------------------

Brent Hendry@ENRON_DEVELOPMENT
01/13/2000 02:45 PM
To: Sara Shackleton/HOU/ECT@ECT
cc: Julian Poole/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Patricia
Cini/HOU/ECT@ECT, Lynn Aven/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: CMS Marketing, Services and Trading Company

Julian and I only have one change. We would like to have the full text to
the second paragraph of the Floating Price difinition included so the
customer sees it up front. This is the language which I pulled from the
Central Puerto confirm:

The parties agree that the Floating Amounts payable under this Transaction
shall be made in US Dollars, and the rate of exchange of Argentine Pesos to
US Dollars shall be of one (1) Argentine Peso per US Dollar as set forth
under Law 23,928, as amended, while there is free convertibility of the
Argentine Peso and the rate of exchange therein set forth is of one (1)
Argentine Peso per US Dollar. Otherwise, the rate of exchange between
Argentine Pesos and US Dollars shall be calculated using the exchange rate,
sell, for transfers abroad established by Banco Naci?n Argentina at the
closing of the Business Day prior to that on which payment is effected.
Argentine Peso means the lawful currency of the Republic of Argentina.

Julian is traveling to Houston tonight and will call you tomorrow to discuss
the sending of the document to CMS. Thanks for your help.

Brent