Reply to e-mail

Marc,

Here's a draft reply to your latest e-mail, which I would send to all those
copied on your note to me. What do you think?

Marc,

We have sought, and paid for, advice from Indian counsel concerning commodity
derivative transactions with Indian counterparites. We have had that advice
updated and confirmed in connection with this proposed transaction. The
result of that advice is that we will require an opinion from DPC's outside
counsel that the proposed transaction is enforceable against DPC before the
transaction can proceed. While I have no legal objection to sending a form
of L/C that would be acceptable to us, it doesn't make much sense to go
through the exercise if DPC will not be providing the necessary opinions.

Mark