Subject: Re: Amendment of Chase/ERMS ISDA dated April 5, 1994
From: [email-masked]
To: [email-masked]
Cc: [email-masked], [email-masked]
Date: Mon, 18 Dec 2000 07:32:00 -0800 (PST)

Phil:

Why don't you execute (duplicate originals) and overnight to me? I'll return 
an original to you tomorrow (overnight), as well.  I'm located, specifically, 
at:

1400 Smith Street, EB 3801a
Houston, TX  77002

Please call if you need anything.  Thanks.

Sara

	<[email-masked]>
	12/18/2000 12:18 PM
		 
		 To: [email-masked]
		 cc: [email-masked], [email-masked], 
[email-masked]
		 Subject: Re: Amendment of Chase/ERMS ISDA dated April 5, 1994

I have been speaking with Soma regarding the markup of the collateral
schedule to the Margin Agreement between Enron and Mahonia as well as the
Enron/Chase ISDA limiting the collateral to direct obligations of the US.
We needed to determine whether we could accept your proposal.  I have been
advised that the changes you requested are acceptable.  Accordingly, all
the amendments can be executed.  Please contact me regarding how you would
like to accomplish this.

<[email-masked]> on 12/18/2000 10:16:53 AM

To:   [email-masked]
cc:   [email-masked], [email-masked]
Subject:  Amendment of Chase/ERMS ISDA dated April 5, 1994

Phil:

I was just checking to see when we would execute the amendment to the
Security Agreement (to permit the rehypothecation of securities).  Please
let me hear from you.

Regards,

Sara