Re: Deutsche Bank

Sara,

Thanks for the update. I have had some brief discussions with Mark
Tarkington who has provided me a fax of credit issues under discussion. Why
don't we sit down to discuss prior to the call on Wednesday. My
understanding is that we will negotiate one ISDA for ENA and mirror the terms
for ECT Investments, ETRIC, etc.

Bill

From: Sara Shackleton on 09/11/2000 05:09 PM
To: William S Bradford/HOU/ECT@ECT
cc:
Subject: Deutsche Bank

Bill: I will fax to you the stair-step threshold in the DB Credit Support
Annex. DB made a change and we cannot locate info in Carol St. Clair's
file.
Also, I am checking the guaranty and other changes marked by DB.

Please note that I frequently see credit derivative deals between ECT
Investments, Inc. and DB (unclear where EnronCredit.com Limited fits into
thiis Houston picture!) where DB is requiring an ENE guaranty as well. Do we
need an ISDA here?

Thanks. Sara