Recording Issue

Rob:
On the recording language issue, we can agree to the following: Instead of
limiting it to trading, marketing and scheduling personnel, we can agree that
it is limited to all telephone communications that are made to or from each
party's trading floor. This is because all calls that originate out of our
trading area are always recorded no matter who picks up on the other line.
Does that work for you? I'm still checking on the confirmation/transaction
tape issue. Also, our credit person will agree to the Moody's trigger in the
MAC language that we discussed.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)