ISDA Master Agreement between Enron North America Corp. ("ENA") and

Cc: jlimone@exchange.ml.com, tracy.ngo@enron.com, brent.hendry@enron.com
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Yair:

Tracy and Tom Moore have come to an understanding regarding the "Transfer"
language for the ISDA Schedule and have agreed that AESC will propse language
for ENA to review. We ask that you blackline that language in a final
blacklined document for us to review.

We need to execute the ISDA Master Agreement (the "ISDA") now. I understand
that Joe Limone and Brent Hendry have been discussing contingent call options
and related documentation. ENA would like to incorporate these potential
trades and other transactions under the new ISDA

If you prefer, ENA would be glad to take over the drafting of the ISDA.
Please let me hear from you.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com