Re:

Enron North America Corp.
Mary Cook
1400 Smith, 38th Floor, Legal
Houston, Texas 77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com
----- Forwarded by Mary Cook/HOU/ECT on 09/15/2000 02:49 PM -----

Barton Clark
09/15/2000 02:07 PM

To: Brian Schwertner/NA/Enron@ENRON
cc: Hope Vargas/HOU/ECT@ECT, Lisa Mellencamp/HOU/ECT@ECT, Mary
Cook/HOU/ECT@ECT, Michael S Galvan/HOU/ECT@ECT
Subject: Re:

A couple of clarifications to the Proposal itself. The option to acquire
535,715 additional shares is in place now and is currently exercisable by
payment of the $26.88 per share strike price, but after effectiveness of the
CCSI S-1 related to the spin-off, we have the option to exercise the option
on a cashless basis and the shares will be split 2 for 1. That wasn't clear
to me in the revision, and I will have my secretary E-Mail to you and the
other members of the distribution a revised Proposal reflecting my
clarifications on those points and Exhibit A incorporated therein.