Rehypothecation amendments

Tanya and Tana:

I am attaching the following (see the Security Agreement Amendment) as an
example of what we did in the Chase amendment of the CSA. Please note the
use of longer dated government securities. I don't know what we want to use
with BofA. Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 12/12/2000 06:09 PM -----

Teresa G Bushman
12/12/2000 06:06 PM

To: Philip.Levy@chase.com
cc: Joseph Deffner/HOU/ECT@ECT, Soma Ghosh/HOU/ECT@ECT, Sara
Shackleton/HOU/ECT@ECT
Subject: Rehypothecation amendments

Phil:

Per our conversation, attached are clean and marked copies of the drafts you
prepared. Please advise if these are satisfactory and we will obtain
execution.

Thanks.

Teresa

Teresa G. Bushman
Enron North America Corp.
1400 Smith Street, EB 3835A
Houston, TX 77002
(713) 853-7895
fax (713) 646-3393
teresa.g.bushman@enron.com