Subject: Revision to Master Netting Forms
From: [email-masked]
To: [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], sar
Cc: [email-masked]
Date: Thu, 1 Nov 2001 16:49:36 -0800 (PST)

As a point in clarification, in Section 2(a) of the Master Netting Agreement the parenthetical "(including automatic termination, if applicable)" should be deleted.  Here are the new forms with the deletion made in them.  Since the form is amending the underlyings to not include automatic termination, the parenthetical should no longer be included.

Further, see the attached once again revised process (hopefully this will be the last revision for a time!).  Changes are in bold and deal with the gas receivables financing and credit sign-off.  To the extent a counterparty will agree to a 25th of the month effective date, do so, as it fits our physical gas billing cycle and makes it easier to pull out the receivable from the gas receivable financing.

Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas 77002-7361
(713) 345-7732
(713) 646-3393 (fax)
[email-masked]