Margaux- Offering Circular

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
----- Forwarded by Carol St Clair/HOU/ECT on 05/22/2000 09:00 AM -----

"Wright, Andy" <awright@velaw.com<
05/21/2000 02:05 PM

To: Margaux Project <margaux@velaw.com<, "Lamb, David A. (Milbank)"
<dlamb@milbank.com<, "'srivers@milbank.com'" <srivers@milbank.com<,
"'bryony.juffkins-u@db.com'" <bryony.juffkins-u@db.com<,
"'robert.mohamed@db.com'" <robert.mohamed@db.com<, "'craig.orchant@db.com'"
<craig.orchant@db.com<, "'ross.newman@db.com'" <ross.newman@db.com<
cc:
Subject: Margaux- Offering Circular

Attached is the first draft of the Offering Circular. Please call with any
questions.

<<Offering Memo 5.doc<<

Andrew M. Wright
Vinson & Elkins LLP
45 King William Street, 8th Floor
London EC4R 9AN, England
Phone: (44 20) 7618-6024
Fax: (44 20) 7618-6001
E-mail: awright@velaw.com

- Offering Memo 5.doc