Enron Mail

From:justin.rostant@enron.com
To:mark.taylor@enron.com
Subject:Heating Oil Options revised
Cc:kevin.meredith@enron.com
Bcc:kevin.meredith@enron.com
Date:Thu, 5 Apr 2001 03:08:00 -0700 (PDT)

Mark can you take a look at the two long descriptions for the Heating Oil
Options products and provide me with any comments. The language for the
exercise period and for the Asian option is listed below. The reason that
"during" was used is because the exercise period for a Dec 01 option is not
until the end of Dec 01. The calculation of the Index price is the average of
the daily price for the month of Dec 01.

"The Exercise Period(s) shall be the last Trading Day of the NYMEX Heating
Oil Contract during the applicable Determination Period."

"The Index for each Exercise Period shall be the simple arithmetic average of
the daily settlement prices of the NYMEX Heating Oil Futures Contract for
each Trading Day during the applicable Determination Period."

Attached are the Long Descriptions, one has the changes highlighted and the
other with the changes accepted(clean version).
Thanks
jr