RESPONSE TO ENRON DRAFT ISDA - Energy New England LLC

Brant:

I haven't heard of anyone pushing this internally but there are serious
issues here because of the "agency" relationship that Energy New England has
with various municipals. You want the municipals on the dotted line and not
the agent.

How do you want to handle?

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
----- Forwarded by Sara Shackleton/HOU/ECT on 02/09/2001 02:01 PM -----

Susan Bailey
02/09/2001 08:17 AM

To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: RESPONSE TO ENRON DRAFT ISDA

Sara,

Set forth below and attached are Mr. Delani's comments to our ISDA draft for
Energy New England. Please advise if I may be of further assistance.

Cordially,
Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3806A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
E:mail: Susan.Bailey@enron.com
----- Forwarded by Susan Bailey/HOU/ECT on 02/09/2001 08:20 AM -----

Jimdelani@aol.com
02/08/2001 05:48 PM

To: Susan.Bailey@enron.com
cc:
Subject: RESPONSE TO ENRON DRAFT ISDA

Susan;

Leo Swift, our chief financial officer, requested
that I review the Draft ISDA you transmitted to
him and send you our comments.

I have prepared them in letter form [ attached ].
Please review at you convenience and let me know
if you would like additional information or clarification.

I work flex hours and can be reached at the office
in Foxborough or at 781-272-7262 Fax 781-272-7197.

Thanks
Jim Delani
Energy New England

- Enron_Feb_ISDA_ltr.doc