Subject: MEH Credit Policy
From: [email-masked]
To: [email-masked]
Cc: [email-masked]
Date: Fri, 8 Sep 2000 06:34:00 -0700 (PDT)

Molly - In your opinion, (1) when do you think the earliest date is that we 
could complete the Credit Policy and (2) what specifically needs to be 
accomplished to hit that date?  I am assuming the following still neds to be 
completed:
 1.  Form of Schedule to ISDA and paragraph 13 - I spoke with Kay Mann 
yesterday and have asked her to speak with Sara Shackleton to find out what 
the delay is.  Have you heard anything new?
 2.  Rewrite of certain language 
  a.  References to the Credit Aggregation System
  b.  More clarity on division of responsibilities (above vs. below 
investment grade)
  c.  Protocol for exceptions, if any
 3.  Review initial approved counterparty list and add any other potential 
counterparties

I am sure this list is not complete, so let me know what else needs to be 
done.  I would like to establish a target completion date, but not without 
your input first.  We intend to turn the Hub Agency Agreement to Peoples 
today.  As such, I would like to have the credit policy complete by the time 
I sit down with Peoples next week.  Let me know what is reasonable and if 
there is anything I can do to assist in expediting the process.

Thanks,

Gregg