workload

Mark: I scheduled a meeting with you at 4:30 pm today to discuss the MG
acquisition, in particular, MG London, Inc. (a U.S REGULATED NYMEX clearing
member, FCM, CTA). NO ONE is looking into this from a US regulatory/legal
perspective and I think it should be the swap group. Enron's "regulated"
product areas are metals (since MG clears its own trades on the NYMEX/COMEX
and has FCM/CTA status) and potentially agriculture if we (some Enron entity)
choose to become a regulated "ATOM" (ag trade option merchant). From a legal
perspective, I think we should have a "whitepaper" drafted by Sullivan &
Cromwell, and, it should include an analysis of the MG London, Inc. existing
situation. This would tie into the ag regulation. Also, have you thought
about ENA and MG as NYMEX members and whether we keep both designations,
whether we move all/part of ENA's existing clearing business to MG (and
perhaps eliminate the need for margin/brokering arrangements such as Paribas,
etc.) and any other related issues? For efficiency purposes, Donna Lowry has
asked to join us. Donna and I had a conference call this morning with
Justin, Paul, Jon Barrett, Sheila Glover and Trena McFarland to figure out
who's on first (with MG).

Also, I am attaching an update of my workload. I have reached the breaking
point and I need more help (even with Jason's help on brokerage agreements
the new electronic trading platform agreements are reaching multiple
proportions with a new request for agreements for ENA, ECT Investments and
EnronCredit.com London). Gareth and Craig Clark want to meet today about the
prepay (Delta/Citibank) and I REALLY need help on the Global Finance side.

See you later. Sara