Empresa Distribuidora de Energia Norte

We need to pursue now. SS
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 08/11/99 11:35
AM ---------------------------

Enron Capital & Trade Resources Corp.

From: Patricia Cini 08/11/99 10:00 AM

To: Sara Shackleton/HOU/ECT@ECT
cc: Rodolfo Freyre@Enron
Subject: Empresa Distribuidora de Energia Norte

Here is the credit worksheet that I had originally sent on 6/28/99. Susan
Bailey was working on this file when Argentina put the ISDA on hold.
They are ready to move forward with this ISDA again.

Regards,

Pat

---------------------- Forwarded by Patricia Cini/HOU/ECT on 08/11/99 09:59
AM ---------------------------

Enron Capital & Trade Resources Corp.

From: Patricia Cini 08/10/99 06:45 PM

To: Sara Shackleton/HOU/ECT@ECT
cc: Rodolfo Freyre@Enron
Subject: Empresa Distribuidora de Energia Norte

Sara-

We had started an ISDA with this counterparty that was put on hold, but is
now back on again.

The main issue was the change in ownership, which should be if AES Corp.
fails to own 56.33% of Empresa Distribuidora de Energia Norte.

Let me know if there were any other issues with preparing this document.

Thank you,

Pat