Subject: Omnibus Confirms
From: [email-masked]
To: [email-masked], [email-masked]
Cc: [email-masked], [email-masked]
Date: Thu, 5 Apr 2001 02:59:00 -0700 (PDT)

Joe and Kim:
Sara and  I met with Tanya yesterday and one of the topics that we discussed 
was making sure that someone was tracking whether our counterparties were 
signing Omnibus Confirms that had credit terms (i.e. Annex B and B-1).  Can 
you tell us whether there are any counterparties that aren't signing this 
type of confirm?  Because collateral is involved, from a legal standpoint, 
the only way that we may be able to enforce our rights vis a vis the 
counterparty and/or other creditors is if we can demonstrate that our 
counterparty entered into a valid security agreement with us.  I look forward 
to hearing from you.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
[email-masked]