Brazil deal

FYI
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 12/07/99 01:36
PM ---------------------------

Enron North America Corp.

From: Patricia Cini 12/05/99 12:20 PM

To: Sara Shackleton/HOU/ECT@ECT
cc: Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Brazil deal

Sara-

This is a new deal that came up in Brazil, which I need to follow up on. I
just returned from vacation so, I haven't had the chance to get any details
yet, but wanted to let you know about this transaction.

Regards,

Pat

---------------------- Forwarded by Patricia Cini/HOU/ECT on 12/05/99 12:18
PM ---------------------------

Remi Collonges@ENRON_DEVELOPMENT
11/29/99 06:43 AM
To: Patricia Cini@ECT
cc: D'Arcy Carroll/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joao
Milanez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject:

Pat,

We have submitted a proposal to Petrobras as you will see in the termsheet
attached. We pay up-front R$1 million to them, and receive for 1 year (minus
a certain amount of days) 6 MW per hour and sell them back up power, up to 10
MW per hour, for a maximum of 37 days. Please let us know if there is a lot
to do to update the credit review for Petrobras. We'll find out this week
whether we have won this deal. I'll keep you posted.

Feel free to call me if you have any further question.

Remi