FX Issues

----- Forwarded by Brent Hendry/NA/Enron on 10/16/2000 11:42 AM -----

Dale Neuner@ECT
10/12/2000 09:45 AM

To: Justin Boyd/LON/ECT@ECT, Amita Gosalia/LON/ECT@ECT, Janine
Juggins/LON/ECT@ECT
cc: Brent Hendry/NA/Enron@Enron, David Forster/Corp/Enron@Enron, Jennifer
deBoisblanc Denny/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Robert B
Cass/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT
Subject: FX Issues

Brent called this morning and has corrected me on this issue. The scenario
provided by the FX Desk that I discussed in my previous e-mail is where Enron
in the UK offers products to external counterparties. The present online FX
scenario is not the case; we are offering the Product internally, so the
Enron trading entity would be Risk Management and Trading Corp. "RMT" (as
seen in the Product Long Description sent earlier).

So, in your consideration today, please amend my previous explanation by
replacing reference to ENA with RMT, and consider any service agreement or
tax issues that may occur as a result of this amendment.

My apologies for any confusion this may have caused.

Dale