Subject: Dynegy Marketing and Trade--Credit Worksheet for HPL Master Physical
From: [email-masked]
To: [email-masked], [email-masked]
Cc: [email-masked], [email-masked]
Date: Wed, 10 May 2000 10:08:00 -0700 (PDT)

Attached below is the Credit Worksheet for a Master Physical Agreement to be 
entered into by and between Houston Pipe Line Company and Dynegy Marketing 
and Trade that the Counterparty has requested.   As explained in the 
worksheet comments section, both entities already have Guaranties.  However, 
Enron must add Houston Pipe Line Company as an additional "Buyer" in the 
Guaranty in place now (amount of $15MM, open expiry).  HPL is already 
included in the Gty issued by Dynegy.

Please give me a call if you have any questions on the worksheet.

Thanks,

Veronica Espinoza