Lisa,

I have a call into the physical steel lawyer.  We will not be able to copy an 
existing profile for physical steel.  Physical steel is a totally new online 
product for us.  We, obviously, cannot copy financial steel, because 
counterparties may be prohibited from trading it if they are not ESP's, if 
their master doesn't let them trade steel, etc (the usual swap issues).  What 
I think my answer is going to be is that there is no legal reason why any 
counterparty cannot trade physical steel, so I would open all counterparties 
up to trade it.  I'm checking with the physical steel lawyers to confirm this.

Just a note, Global Contracts should also not be able to copy a profile, 
because they should have a totally new GTC dealing with physical steel issues 
specifically.  I'm sure Karen will probably copy me in on her email.  Just in 
case...I want to confirm what Global Contracts is saying for this one...

I'll get back to you to confirm the above for Legal.



	Lisa Lees
	01/30/2001 10:02 AM
		 
		 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT
		 cc: Kelly Lombardi/NA/Enron@Enron, Tom Moran/HOU/ECT@ECT, Stephanie 
Sever/HOU/ECT@ECT
		 Subject: Profiles for Steel Physical Products

Tana/Karen:

The product long descriptions below will fall under the new product types US 
Steel Hot Rolled Physical.  Credit (Tom Moran) has approved copying the 
profiles for the new product types from the following:

 US Steel Hot Rolled Fin Swap

Please respond no later than 10 a.m. on Wednesday, January 31.

Thank you.
---------------------- Forwarded by Lisa Lees/HOU/ECT on 01/30/2001 08:44 AM 
---------------------------
   


From:  Melba Lozano                                                           
  01/26/2001 05:19 PM	
	
	
	                           
	

To: Bjorn Hagelmann/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Lisa 
Lees/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT
cc: Robert B Cass/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT, Stephanie 
Sever/HOU/ECT@ECT, Carl Carter/NA/Enron@Enron, Kevin 
Meredith/Corp/Enron@ENRON 
Subject: Steel Physical Products - approvals / profiles

I need approvals and customer profiles by Wednesday January 31 11:00 am.

Your review and approval of the following product type in the EOL Datamanager 
is needed (for directions on approval , please see steps for approval at the 
bottom of this e-mail).    

 
US HR Steel Phy    12G 48W Chi A569    Feb-April 01   USD/NT m

A U.S Hot Rolled Steel Transaction with Enron North America Corp, under which 
the Seller shall deliver and the Buyer shall take and pay for the Quantity of 
the Goods at the Contract Price. The Contract Price shall be the price 
submitted by Counterparty via EnronOnline.  
The term of the Transaction shall be from the Effective Date of 01 Feb 2001 
to the Termination Date of 31 April 2001. 
The Transaction is for hot rolled steel with a Thickness of 12 Gauge and a 
Width of 48 inches.  The Goods shall be commercial quality, prime, hot rolled 
steel with specifications to ASTM A569 and tolerances to ASTM A568, unless 
quality tolerances are outlined in Schedule 2 of the associated General Terms 
and Conditions.  The transaction is F.O.B. Reserve Marine Terminal in 
Chicago, Ill Metro Area.  The Quantity shall be Quantity submitted by 
Counterparty via EnronOnline (5% greater or lesser allowance at Seller,s 
option). Each calendar month during the term of the Transaction will be a 
Dispatch Period.  Enron will guarantee delivery by the last day of each 
scheduled Dispatch Period and accept supply to the 20th of each scheduled 
Dispatch Period.  Payment shall be made, against the receipt of the required 
documents outlined in the General Terms and Conditions, in the Contractual 
Currency by telegraphic transfer no later than 30 calendar days after the 
date on which the Goods are released to Buyer.  
The price is quoted in dollars (US) per unit of measure, which shall be the 
Contractual Currency. The unit of measure against which the price is quoted 
shall be net tons (2000 lbs) and the quantity shown shall be in net tons per 
month. 



US HR Steel Phy   5/16 48W ChiA635   Feb-April 01   USD/NT m

A U.S Hot Rolled Steel Transaction with Enron North America Corp, under which 
the Seller shall deliver and the Buyer shall take and pay for the Quantity of 
the Goods at the Contract Price. The Contract Price shall be the price 
submitted by Counterparty via EnronOnline.  
The term of the Transaction shall be from the Effective Date of 01 Feb 2001 
to the Termination Date of 31 April 2001. 
The Transaction is for hot rolled steel with a Thickness of 5/168 and a Width 
of 48 inches.  The Goods shall be commercial quality, prime, hot rolled steel 
with specifications and tolerances to ASTM A635, unless quality tolerances 
are outlined in Schedule 2 of the associated General Terms and Conditions.  
The transaction is F.O.B. Reserve Marine Terminal in Chicago, Ill Metro 
Area.  The Quantity shall be Quantity submitted by Counterparty via 
EnronOnline (5% greater or lesser allowance at Seller,s optionEach calendar 
month during the term of the Transaction will be a Dispatch Period.  Enron 
will guarantee delivery by the last day of each scheduled Dispatch Period and 
accept supply to the 20th of each scheduled Dispatch Period.  Payment shall 
be made, against the receipt of the required documents outlined in the 
General Terms and Conditions, in the Contractual Currency by telegraphic 
transfer no later than 30 calendar days after the date on which the Goods are 
released to Buyer.  
The price is quoted in dollars (US) per unit of measure, which shall be the 
Contractual Currency. The unit of measure against which the price is quoted 
shall be net tons (2000 lbs) and the quantity shown shall be in net tons per 
month. 

==============================================================================
=====

STEPS FOR APPROVAL:

click the  START button 
select  PROGRAMS
select  TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
 PROCEED WITH USUAL LOGIN/PASSWORD 
click the Enron Online Production Cluster "START" button  
select EnronOnLine (this is the EOL Datamanager)
 PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR  "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up 
TO APPROVE:  Right mouse click on "Approved"
  
Thanks - Rob Cass  -  Melba Lozano
x35491   x58986

---------------------- Forwarded by Melba Lozano/HOU/ECT on 01/26/2001 05:06 
PM ---------------------------


Carl Carter@ENRON
01/25/2001 05:53 PM
To: Robert B Cass/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Kevin 
Meredith/Corp/Enron@ENRON, Lisa Lees/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, 
Stephanie Sever/HOU/ECT@ECT
cc: David Forster/Corp/Enron@Enron, Naveed Ahmed/NA/Enron@Enron, Sean 
Keenan/HOU/ECT@ECT, Jason Althaus/Corp/Enron@Enron 
Subject: Steel Long Descriptions - Physical Products

We plan on putting two new Physical Steel product types into Production 
sometime next week. Jason Althaus already has the GT&Cs and will prepare them 
for upload when the product types are available.
Included are final versions of the two short and long product descriptions. 
Also included are spreadsheets detailing the location and quality 
combinations that will initially be shown on the Website.
Let me know if you have any questions.
Carl