Profile Review

Further to discussions with Tana today:

I understand there are some concerns with regard to the amount of time
necessary to complete the due diligence process on each new company added to
the EnronOnline customer list.

Tana has requested that we adopt some rules which would reduce the amount of
time spent on this activity.

I am much in favour of this, but we need to ensure that the rules do not work
such that many customers are prevented from transacting on products which
they would otherwise be able to.

e.g. Tana has suggested that companies who are not registered in the U.S.
should automatically receive a profile which disallows them from trading in
U.S. physical power, as they are unlikely to hold the required FERC license
(subject of course to review of individual requests from the companies
themselves). I am happy with this rule, as it seems highly unlikely that
non-U.S. companies would hold a U.S. electricity license.

If anyone would like to adopt similar rules for other products, please run
them past me before implementation - assuming Mark and Justin are OK with the
concept.

Thanks,

Dave