From: [email-masked]
To: [email-masked]
Cc: [email-masked]
Date: Mon, 9 Apr 2001 03:46:00 -0700 (PDT)

Tana, the products listed below (as I understand) comprise the initial 
products for the EOL roll-out.  It is unusual that ECTRIC, rather than ENA, 
will be the Enron party, even with respect to transactions that will be 
confirmed out of the U.S.  This is something Mark and I (as well as tax and 
credit) have scrubbed at length and approved.

Enron principal counterparty for each: ECTRIC
Each product is a financially-settled swap (NO OPTIONS)

(1) Coffee swap -- NYBOT reference price (executed by ECTRIC from Houston)
(2) Coffee swap -- LIFFE reference price (executed by ECTRIC/EEFT from London)
(3) Coffee basis swap -- NYBOT/LIFFE spread (executed by ECTRIC from Houston)
(4) Sugar swap -- NYBOT reference price (executed by ECTRIC from Houston)
(5) Sugar swap -- LIFFE reference price (executed by ECTRIC/EEFT from London)
(6) Sugar basis swap -- NYBOT/LIFFE spread (executed by ECTRIC from Houston)
(7) Cocoa swap -- NYBOT reference price (executed by ECTRIC from Houston)
(8) Cocoa swap -- LIFFE reference price (executed by ECTRIC/EEFT from London)
(9) Cocoa basis swap -- NYBOT/LIFFE spread (executed by ECTRIC from Houston)

I will immediately look into whether there would be special restrictions for 
swaps on coffee, sugar and cocoa with respect to Australian, Singapore and 
Hong Kong counterparties (I think these are the three most likely non 
U.S./European jurisdictions at this point)

Robert E. Bruce
Senior Counsel
Enron Wholesale Services
T (713) 345-7780
F (713) 646-3393
[email-masked]