Subject: J.P. Morgan Futures Inc. ("JP")
From: [email-masked]
To: [email-masked]
Cc: [email-masked]
Date: Thu, 22 Feb 2001 00:25:00 -0800 (PST)

SARA,
Notes below.  Gary is going to an offsite meeting with JP Morgan next week 
and has requested that he would like this in place when he goes.  
Many thanks. Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 02/22/2001 08:25 
AM ---------------------------
From: Sara Shackleton on 02/21/2001 04:43 PM
To: Sheila Glover/HOU/ECT@ECT
cc:  
Subject: J.P. Morgan Futures Inc. ("JP")

Sheila:

Just a few questions about this futures agreement:

(1)  Is it OK for JP to combine our orders with orders of other clients and 
JP's affiliates? YES
(2)  Is it OK (after we deposit property into our account) for JP to return 
"property of like or equivalent kind or amount"? NO
(3)  Do you want to agree to an interest rate (on customer funds) upfront or 
only "as agreed from time to time"? I WOULD LIKE TO AGREE TO AN INTEREST RATE 
UPFRONT. (EG. FED FUNDS). CAN WE TAKE A LOOK AT PRU, CARR AND CSFB futures 
agreements TO SEE WHAT IS MARKET?

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
[email-masked]