Re: Proposed New Swap with BEB

Thanks Justin - I was planning to come over some time shortly after the first
of the year. A month or two ago Mark H. mentioned that there might be an
ISDA meeting in January that he wants me to attend so I'll probably try to
schedule something around then. I believe that's around the 28th. Let's try
to set up dinner again!

Enron Capital & Trade Resources Corp.

From: Justin Boyd 11/30/98 09:47 AM

To: Mark - ECT Legal Taylor/HOU/ECT@ECT
cc:
Subject: Re: Proposed New Swap with BEB

Hi Mark,

The document we use is an adaption of the Enron Master Swap Contract, but
tailored for a single one-off swap deal.

When are you over next?

Hope to see you shortly!

Justin

To: Justin Boyd/LON/ECT@ECT
cc:
Subject: Re: Proposed New Swap with BEB

What documents do we use for these deals? Is it the German translation of
our Industrial Master?

Enron Capital & Trade Resources Corp.

From: Justin Boyd 11/26/98 07:40 AM

To: Mark E Haedicke/HOU/ECT@ECT, Alan B Aronowitz/HOU/ECT@ECT, Jeffrey T
Hodge/HOU/ECT@ECT, Scott Sefton/LON/ECT@ECT, Mark - ECT Legal
Taylor/HOU/ECT@ECT
cc:
Subject: Proposed New Swap with BEB

We are looking at a new Rheinschiene (Gas Oil + Fuel Oil) Swap with BEB, a
German gas company. The key details are:

BEB are jointly owned by Esso & Shell
Plain vanilla swap
Enron pays floating
Term of 1 -3 years
Value between DEM 250,000 - DEM 10,000,000

I will keep you posted of new developments.

Justin