I am not even going to respond to this. As far as I am concerned its over.
---------------------- Forwarded by Louise Kitchen/HOU/ECT on 03/14/2001 01:45 PM ---------------------------

Enron Capital & Trade Resources Corp. From: "Uman, Jonathan" <JUman@cantor.com< 03/14/2001 01:39 PM

To: "'Louise.Kitchen@enron.com'" <Louise.Kitchen@enron.com<
cc:

Subject:

Louise,

What am I missing here? We are offering an excellent deal for eMetra which
will take the business forward and we believe management supports. We are
offering to get you into 3 markets which you are active in where you can
earn shares of our stock without paying an entry price. I have found a
structural way of getting the $10 million in cash to you.

I am surprised you do not want to discuss this further.

Jonathan

-----Original Message-----
From: Louise.Kitchen@enron.com [mailto:Louise.Kitchen@enron.com]
Sent: Wednesday, March 14, 2001 2:33 PM
To: Uman, Jonathan
Cc: Tom.McKeever@enron.com; Justin.Boyd@enron.com;
Travis.McCullough@enron.com; David.P.Tregar@enron.com
Subject: Re: what if i give you a put on the last $2.5 million in stock?
let you lock it in?

Jonathan,

As stated in my previous message. The letter and your two subsequent
emails confirm that Enron and eSpeed are not close to any agreement and in
order to ensure no time is wasted on the part of either Enron or eSpeed, we
have no further wish to pursue any further discussions. The draft
proposal we sent was not subject to negotiation.

Regards

Louise Kitchen
COO
Enron Americas

cc: Tom McKeever, Enron Metals
Justin Boyd, Enron Legal - Europe
Travis McCullough, Enron Legal - Americas
Andy Zipper - EnronOnline
Greg Whalley - Enron Wholesale
David Tregar - Enron Metals

(Embedded Enron Capital & Trade Resources Corp.
image moved
to file: From: "Uman, Jonathan"
pic32757.pcx) <JUman@cantor.com<
03/14/2001 01:07 PM

To: "Louise Kitchen (E-mail)" <lkitchen@enron.com<
cc:

Subject: what if i give you a put on the last $2.5 million in stock? let y
ou lock it in?