---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/02/2001 
05:16 PM ---------------------------


Rakesh Bharati@ENRON
05/02/2001 04:31 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:  
Subject: Default Probability


Vince,

I am getting 22% based on martingale probability of default.

Rakesh