Message-ID: <29832306.1075844459876.JavaMail.evans@thyme>
Date: Thu, 25 May 2000 03:29:00 -0700 (PDT)
From: sheila.glover@enron.com
To: sara.shackleton@enron.com, ted.murphy@enron.com
Subject: Frost Securities Inc. account with ECT Investments, Inc.
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X-From: Sheila Glover
X-To: Sara Shackleton, Ted Murphy
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Sara,
Purpose of Account  includes rationale (see below), I have added Ted as a C=
C:=20
on our top page request=20
Deutsche Banc Alex , Brown is the back office service utilized by Frost=20
Securites, Inc to clear their trades.  When we execute through Frost they u=
se=20
DB Alex Brown to settle the trade with our prime Broker.
3.               2000 Petroleum Analyst Yearbook
                  Frost Securities Inc.=20
                       Lewis W. Kreps=20
                       R. Lewis Ropp=20
                       Gary L. Russell
 Frost Securities Inc.
                  2727 N. Harwood St., Ste. 1000
                  Dallas, Texas 75201-1515
                  Phone: 214-515-4400
                  Fax: 214-515-4430
                  Contact: Lewis W. Kreps
                  E-mail: lewis.kreps@frostsecurities.com

                  Frost Securities, Inc. is a Dallas-based full-service=20
investment banking
                  firm focused on equity research, institutional brokerage=
=20
and trading and
                  corporate finance. The firm is a wholly owned subsidiary =
of=20
Cullen/Frost
                  Bankers (NYSE: CFR). Frost Securities, Inc. is leading th=
e=20
charge to
                  service companies and industries of the Southwest with an=
=20
emphasis on
                  the energy and technology sectors. The company=01,s effor=
t is=20
"research led"
                  and "trading driven," with multiple analysts per sector.=
=20
The firm=01,s research
                  team averages more than 10 years of direct industry=20
experience in their
                  respective industries. The firm=01,s corporate finance gr=
oup=20
consists of
                  seasoned professionals with an in-depth understanding of=
=20
public offerings,
                  private placements, leveraged buyouts, M&A advisory, sale=
=20
advisory and
                  takeover defenses.=20
4.  Janet is the contact for Frost.

Pleae call=20

Date:   May 19, 2000

To:   ENA Legal Department
   Attn: Sara Shackleton

cc:    Ted Murphy (Cover Page only)

Requestor:  Sheila Glover

Entity Opening Account (Legal Name): ECT Investments, Inc.

Brokerage Firm:   Frost Securities, Inc. Investment Bankers
Contact:   Janet
Phone Number:  214-515-4495

Type of Account:  Executing Broker Only

Purpose of Account: Transactions limited to executing broker relationship. =
=20
Frost Securities, Inc.. has an energy  analyst  which is utilitzed by the=
=20
Energy Portfolio=20
=20

---------------------- Forwarded by Sheila Glover/HOU/ECT on 05/25/2000 10:=
20=20
AM ---------------------------
From: Sara Shackleton on 05/22/2000 01:24 PM
To: Sheila Glover/HOU/ECT@ECT
cc: =20
Subject: Frost Securities Inc. account with ECT Investments, Inc.

Sheila:  I received a requst from you.  Please advise if: =20

(1)  You sent explanation to Ted Murphy stating purpose for account.
(2)  Agreement reflect DB Alex Brown LLC to clear trades with prime broker =
of=20
our choice
(3)  Why is this a Deutsche Bank agreement?  Who is "Frost Securities, Inc.=
"?
(4)  Do we contact "Janet" at 214/515-4495 with markup?