Amendment of Chase/ERMS ISDA dated April 5, 1994

From: sara.shackleton@enron.com

To: philip.levy@chase.com

Subject: Amendment of Chase/ERMS ISDA dated April 5, 1994

Cc: soma.ghosh@enron.com, teresa.bushman@enron.com

Bcc: soma.ghosh@enron.com, teresa.bushman@enron.com

Date: Mon, 18 Dec 2000 01:16:00 -0800 (PST)

Phil:

I was just checking to see when we would execute the amendment to the
Security Agreement (to permit the rehypothecation of securities). Please let
me hear from you.

Regards,

Sara