Subject: Goldman Sachs/UBS Warburg
From: [email-masked]
To: [email-masked]
Cc: [email-masked]
Date: Wed, 14 Feb 2001 01:37:00 -0800 (PST)

Darren:

(1)  Goldman Sachs
ENA  executed the Client Access Agreement with Goldman, Sachs & Co.  on June 
15, 2000.  Since you are trading in the name of ENA, you should not need to 
execute an additional agreement.  I confirmed this with Ted Leh this 
morning.  At Ted's suggestion, please forward to me the fax number and email 
address of the Goldman person requesting that you execute further 
documentation.  I can fax to him a copy of the agreement and correspond by 
email.  I will also copy Ted Leh and Vivian Siao (keeps track of agreements 
and authorized traders) so that everyone is up to date.

(2)  UBS Warburg
I spoke with Sheryl Gallant.  ENA and other Enron affiliates are already 
trading on the UBS electronic websites for OTC transactions.  Interestingly 
enough, UBS does not require an electronic trading agreement to be signed by 
a customer for online trading.  In other words, ENA has an executed ISDA with 
UBS dated May 31, 1993, you are an authorized trader for ENA and UBS is happy 
to let you access their platform. Sheryl does not know why Jun Ishi requested 
execution of a "Client User List" (i.e., an authorized trader list) and said 
to forget it.  If you would like for me to speak to Jun Ishi or correspond 
with him (please send his email address), just let me know.

Please let me hear from you if you would like for me to pursue further.  As a 
representative of ENA, you will probably have most agreements already in 
place. 

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