Subject: Re: EOL - CNV
From: [email-masked]
To: [email-masked]
Cc: [email-masked], [email-masked]
Date: Mon, 11 Sep 2000 23:13:00 -0700 (PDT)

This appears clear to me. We do not hold any risk with the CNV unless we
create it.

Mark do we need any further clarification from your perspective?

The worst would be we are warned, asked to make a change or shut down. I do
not have anything to loose in an emerging market with limited liquidity
already. It would be different if there was an existing business that would
be harmed. This is all incremental value from today.

MFG

Andrea Calo
09/11/2000 06:05 PM

To:   Michael Guerriero/SA/Enron@Enron, [email-masked]., Patrick
      Hansen/SA/Enron@Enron
cc:

Subject:  EOL - CNV

Please see Sebastian Iribarne's memo on the referenced issue in the
attachment below.

---------------------- Forwarded by Andrea Calo/SA/Enron on 09/11/2000
06:06 PM ---------------------------

IRIBARNE Sebasti?n M. <[email-masked]> on 09/11/2000 05:16:31 PM

To:   "[email-masked]'" <[email-masked]>
cc:
Subject:  memo

Andrea,

Te adjunto el memo con relacion al tema CNV.? Hemos tratado de ser breves y
no entrar en detalle en todos los requisitos de las normas de la CNV, ya
que hay mas de un interrogante debido a la falta de antecedentes.? De toda
maneras hemos tratado de resaltar lo complicado que seria establcer un
nuevo vmercado de futuuros y opciones en electricidad.

Cualquier cosa no dudes en llamar.

 <<o1088180.doc>>

---------------------------------------------------------------------
Este mensaje es confidencial. Puede contener informacion amparada
por el secreto profesional. Si usted ha recibido este e-mail por error,
por favor comuniquenoslo inmediatamente via e-mail y tenga la
amabilidad de eliminarlo de su sistema; no debera copiar el mensaje
ni divulgar su contenido a ninguna persona. Muchas gracias.

This message is confidential. It may also contain information that is
privileged or otherwise legally exempt from disclosure. If you have
received it by mistake please let us know by e-mail immediately and
delete it from your system; you should also not copy the message nor
disclose its contents to anyone. Many thanks.
?---------------------------------------------------------------------

(See attached file: o1088180.doc)

 - o1088180.doc