Dial Swaption Contract

---------------------- Forwarded by Sara Shackleton/HOU/ECT on 03/10/2000
03:52 PM ---------------------------

From: Ed Quinn 03/10/2000 03:49 PM

To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Dial Swaption Contract

Here is the general idea:

It is the understanding of The Dial Corporation and Enron North America that
ENA is working to provide commodity risk management services to Re-Box Inc.
to finance the construction of a linerboard facility Should this endeavor be
completed prior to May 1st and ENA not exercise on the swaption above, Enron
will pay The Dial Corporation the sum of $200,000.

Will this or something like this suffice?

Thanks.

Ed Quinn