Re: Brazil 10 year power deal

Please call. Brent and I missed you this morning. Here's the extent of what
I was able to find out. We called Andrea Bertone and left word. I think
she's calling Brent (as I was on a conference call when she rang back). Pat
Cini will join our Friday morning meetings. Is Michael Herman taking over
Brazil financial? SS
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 11/05/99 10:50
AM ---------------------------

Enron North America Corp.

From: Patricia Cini 11/05/99 10:02 AM

To: Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sara
Shackleton/HOU/ECT@ECT
cc: William S Bradford/HOU/ECT@ECT, Sue
Frusco/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Christine
Garcia/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bjorn Hagelmann/HOU/ECT@ECT
Subject: Re: Brazil 10 year power deal

---------------------- Forwarded by Patricia Cini/HOU/ECT on 11/05/99 10:00
AM ---------------------------

Don Black@ENRON_DEVELOPMENT
11/05/99 09:58 AM
To: Patricia Cini/HOU/ECT@ECT
cc:
Subject: Re: Brazil 10 year power deal

pat, sorry, but we did go forward with this very small deal before taking all
the normal credit provisions. The deal is not signed yet, and is still
"technically" awaiting management approval. Please work with Remi Collogne
and or Gustavo to get information on this company. let me know how I can
help. thanks

To: Christine Garcia/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Sue Frusco/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, William S
Bradford/HOU/ECT@ECT, Don Black/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Remi
Collonges/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andrea
Bertone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gustavo
Junqueira/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brent
Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bjorn Hagelmann/HOU/ECT@ECT
Subject: Brazil 10 year power deal

Christine:

Let me know if you have heard about a 10 year deal that Brazil did. Gustavo
advised that they are going to buy 1.7MW (24x7)at 40.00Real from a sugar mill
beginning in May 2000. The purchase price is suppose to be inflation
adjusted starting 2001. ECE will be selling this power to Elektro at a
biomass pricing that is government controlled and adjusted annually. The
price to Elektro is approximately 80.00Real.

I believe that this deal may have been already executed, but have not
received a response from Brazil yet. I have not had a chance to review the
sugar mill's profile and make any type of credit assessment.

Let me know if you have heard from Brazil on this and whether we have a 10
year power curve from them.

Regards,

Pat