Frost Securities Inc. account with ECT Investments, Inc.

Sara,
Purpose of Account includes rationale (see below), I have added Ted as a C=
C:=20
on our top page request=20
Deutsche Banc Alex , Brown is the back office service utilized by Frost=20
Securites, Inc to clear their trades. When we execute through Frost they u=
se=20
DB Alex Brown to settle the trade with our prime Broker.
3. 2000 Petroleum Analyst Yearbook
Frost Securities Inc.=20
Lewis W. Kreps=20
R. Lewis Ropp=20
Gary L. Russell
Frost Securities Inc.
2727 N. Harwood St., Ste. 1000
Dallas, Texas 75201-1515
Phone: 214-515-4400
Fax: 214-515-4430
Contact: Lewis W. Kreps
E-mail: lewis.kreps@frostsecurities.com

Frost Securities, Inc. is a Dallas-based full-service=20
investment banking
firm focused on equity research, institutional brokerage=
=20
and trading and
corporate finance. The firm is a wholly owned subsidiary =
of=20
Cullen/Frost
Bankers (NYSE: CFR). Frost Securities, Inc. is leading th=
e=20
charge to
service companies and industries of the Southwest with an=
=20
emphasis on
the energy and technology sectors. The company=01,s effor=
t is=20
"research led"
and "trading driven," with multiple analysts per sector.=
=20
The firm=01,s research
team averages more than 10 years of direct industry=20
experience in their
respective industries. The firm=01,s corporate finance gr=
oup=20
consists of
seasoned professionals with an in-depth understanding of=
=20
public offerings,
private placements, leveraged buyouts, M&A advisory, sale=
=20
advisory and
takeover defenses.=20
4. Janet is the contact for Frost.

Pleae call=20

Date: May 19, 2000

To: ENA Legal Department
Attn: Sara Shackleton

cc: Ted Murphy (Cover Page only)

Requestor: Sheila Glover

Entity Opening Account (Legal Name): ECT Investments, Inc.

Brokerage Firm: Frost Securities, Inc. Investment Bankers
Contact: Janet
Phone Number: 214-515-4495

Type of Account: Executing Broker Only

Purpose of Account: Transactions limited to executing broker relationship. =
=20
Frost Securities, Inc.. has an energy analyst which is utilitzed by the=
=20
Energy Portfolio=20
=20

---------------------- Forwarded by Sheila Glover/HOU/ECT on 05/25/2000 10:=
20=20
AM ---------------------------
From: Sara Shackleton on 05/22/2000 01:24 PM
To: Sheila Glover/HOU/ECT@ECT
cc: =20
Subject: Frost Securities Inc. account with ECT Investments, Inc.

Sheila: I received a requst from you. Please advise if: =20

(1) You sent explanation to Ted Murphy stating purpose for account.
(2) Agreement reflect DB Alex Brown LLC to clear trades with prime broker =
of=20
our choice
(3) Why is this a Deutsche Bank agreement? Who is "Frost Securities, Inc.=
"?
(4) Do we contact "Janet" at 214/515-4495 with markup?