Concerning the below request, Equilon is approved to buy protection (default
swap) on Northwest Airlines. I will also look at adding Equilon to the
approved counterparty trading list.

However, before transacting, we need speak with Mark for legal approval.

Rod

---------------------- Forwarded by Rod Nelson/HOU/ECT on 03/02/2000 09:34 AM
---------------------------

Tomas Valnek
03/02/2000 04:28 AM
To: William S Bradford/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Rod
Nelson/HOU/ECT@ECT, Paul Simons/LON/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Edmund
Cooper/LON/ECT@ECT
cc: David Weekes/LON/ECT@ECT, John Metzler/LON/ECT@ECT
Subject:

We are looking at giving an offer for a bankruptcy swap to Equilon
Enterprises LLC (formerly Shell Aviation US) to cover Northwest Airlines.

Is Equilon an approved counteraprty?

Regards

Tomas