Re: Indicative price for CMS

1. The Enron company is "ENA"
2. How many Calculation Periods will there be? December is a short month
if the Transaction begins on 12/25/99. Will the first payment be due in
early January? If you intend three (3) payments to be made, then the Calc.
Periods are from 12/25-12/31, January, 2/1-2/22.
3. Is this a 24-hour index or is it limited to peak hours as defined by
CAMMESA?

I left a message for Joe Hunter (confirmation desk - Ext. 33316) to be
prepared for this Transaction.

Brent: would you please verify the Floating Price?

Thanks.

Julian Poole@ENRON_DEVELOPMENT
12/21/99 04:20 PM
To: Scott Neal@ECT, Sara Shackleton@ECT
cc: Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Don
Black/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michael
Guerriero/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Indicative price for CMS

Scott,
The attached file includes the general terms of an indicative swap price for
CMS.
As soon as you are available tomorrow morning, Dec 22nd, let me know and we
will call CMS here in BA.

Sara: pls. take a look at the following file and add any comments you think
necessary.

Thank you very much

Julian