SCEM ISDA Date

Hi Sara,

I have a question pertaining to Counterparty - Southern Company Energy
Marketing, L.P. We have been receiving Executed Financial Confirmation
Letters with our ISDA Master Agreement Date June 1, 1994 striked through and
SCEM writes in June 28, 1994 (execution date). I have been researching with
Rhonda Denton and we state June 1, 1994 as the effective date, the date that
is on the Master Agreement. SCEM wants June 28, 1994 date - when the Master
Agreement was executed. I have spoken to Jeff at SCEM and he said it was
"industry standard" to use the execution date. Our confirm states "This
Confirmation supplements, forms part of, and is subject to, the ISDA Master
Agreement dated as June 1, 1994, as amended.... Is EPMI's Date correct or
are both dates valid. Please let me know if you need any further
information.

Thank you

Stephanie
Enron Power Marketing, Inc
x39210