Re: Foreign Counsel Update

Justin

Summary for Taiwan:

? Generally free to trade physical/derivatives oil and metals.

? Certain commodities may be restricted/prohibited. No import permit=20
required for :
- aluminium (not alloyed and unwrought);
- nickel (unwrought), nickel powders, flakes, bars and rods;=20
- tin (not alloyed and unwrought), and tin bars and rods;=20
- copper ores and concentrates, copper oxides and copper hydroxides; and=20
- zinc (not alloyed) ores and concentrates, hard sinc spelter.

? Importer=01,s responsibility to obtain aproval for restricted/prohibited=
=20
commodities.

? Local counterparties are permitted to purchase USD50 million each calenda=
r=20
year beyond which Central Bank approval required on a case by base basis.

? Possible withholding tax impact (up to 20%) on derivatives income.

Summary for Korea:

Financial derivatives require prior approval from the central bank.

Commodity derivatives require prior reporting to the central bank.

Electronic Transactions Basic Law and Standardized Contract Regulation Law=
=20
may require amendments to ETA. Await advice on specific amendments.

Await specific advice on metals physical and derivatives trading.

Regards
Matt

Justin Boyd
09/25/2000 07:36 PM
To: Robert Quick/LON/ECT@ECT, Matthias Lee/SIN/ECT@ECT,=20
jonathan.marsh@linklaters.com
cc: =20

Subject: Foreign Counsel Update - EnronOnline

I attach the latest summary. Please would you make all updates (where it=
=20
applies to you) by close thisThursday - this is when we need to send it ove=
r=20
to Houston. If you can, could you try as get as recent an update as possib=
le=20
from counsel.

Thanks.
Justin