Cross-Commodity Guarantee

Harry:
FYI. Is there anyone else that needs to sign off on this before we roll this
form out?
Carol
----- Forwarded by Carol St Clair/HOU/ECT on 06/21/2000 08:51 AM -----

Jeffrey T Hodge
06/21/2000 04:40 AM

To: Carol St Clair/HOU/ECT@ECT
cc: Stacy E Dickson/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT
Subject: Cross-Commodity Guarantee

Carol:

At long last I have had an opportunity to review the Multi-Purpose Form of
Guaranty you circulated in early June. I am fine with that form as something
that we can use and that Credit can send to counterparties.

As an aside, the attached e-mail indicates that you forwarded something
yesterday. If so, I did not see that.

I join in Leslie's request to be forwarded a copy of the final form of
guarantee. Should you have any questions or comments, please contact me at
your convenience.

Thanks,

Jeff
----- Forwarded by Jeffrey T Hodge/HOU/ECT on 06/21/00 04:32 AM -----

Leslie Hansen
06/20/00 12:08 PM

To: Carol St Clair/HOU/ECT@ECT
cc: Jeffrey T Hodge/HOU/ECT@ECT
Subject: Cross-Commodity Guarantee

Carol:

As we discussed, Elizabeth and I are fine with the Cross-Commodity Guarantee
you circulated yesterday. (By the way, we are revising our current physical
power guarantee to eliminate the 15-day cure period.) One question: Is ENA
the proper notice recipient in Section 7? We direct notice to Enron Corp. in
our standard form.

After you have received Jeff's (et al.) feedback, please send me a copy of
the final form of cross-commodity guarantee so that we can include in our
form file for all requests.

Thanks,

Leslie