FX Product

Janine:

With respect to the attached (internal) FX product for EOL, I just wanted to
verify with you that internal counterparties should transact on EOL with:

(1) RMT (as principal for Houston FX desk)

(2) EEFT as agent for RMT (as principal for London FX desk). In this
regard, was the services agreement between ENA and EEFT ever extended to
include RMT for internal trades?

(3) Enron Japan Corp. (as principal for Tokyo FX desk)

There appears to be some confusion since our meeting of November 3. Thanks.
Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 12/13/2000 11:22 AM -----

Melba Lozano
12/11/2000 05:59 PM

To: Sara Shackleton/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT
cc: Robert B Cass/HOU/ECT@ECT, Steve Jacobellis/NA/Enron@Enron, Kevin
Meredith/Corp/Enron@ENRON, Steve Jacobellis/NA/Enron@Enron
Subject: FX Product

Sara / Mark,

I need an approval as soon as possible from you for the FX Description
attached. Steve Jacobellis is requesting that this gets out on the web as
soon as possible.

Thank you,

Melba
58986
---------------------- Forwarded by Melba Lozano/HOU/ECT on 12/11/2000 05:53
PM ---------------------------

From: Melba Lozano
11/30/2000 06:41 PM

To: Sara Shackleton/HOU/ECT@ECT, William Stuart/HOU/ECT@ECT
cc: Robert B Cass/HOU/ECT@ECT
Subject: FX Product

Sara: Please approve on the attached language for the FX Product.

William: There is a gap between hour ending 3:00 and 4:00 . Do you want to
go ahead and set up Central time to trade until Hour Ending 4:00? Please let
me know.

Thank you,

Melba