Subject: National Steel -Credit W/S
From: [email-masked]
To: [email-masked], [email-masked], [email-masked], [email-masked]
Cc: [email-masked], [email-masked], [email-masked], [email-masked]
Date: Wed, 11 Oct 2000 04:06:00 -0700 (PDT)

To All:

Attached is a credit worksheet required for a transaction with National Steel 
Corp that is being structured by the contacts listed on the worksheet.  This 
particular transaction is being executed in conjunction with prior long dated 
transaction with National Steel (TAGG#E79260).  A prepay  of the in-the-money 
position to the counterparty has been structured for part of the remaining 
years left on the contract.  In addition to this, a new transaction will be 
entered into in which ENA sells additional volume of nat gas to the 
counterparty along with what is already being delivered from the remaining 
contract.  A Master Firm Purchase Sale is required for this new transaction 
and the existing transaction MUST be assigned over to this Master in order to 
offset the existing MTM with the sales volumes.  The execution of this new 
transaction is dependent on the assignment of the existing transaction to the 
Master.

Regards,
Russell