Due to people being out of the office today we were not able to finalise a 
response concerning  procedures to enable us to approve potential 
counterparties to trade Australian Power Derivatives. This would include 
arrangements to cover both counterparties  with a presence in Australia and 
those that do not. In the case of the later group I believe we can come up 
with a set of procedures to address credit, tax, regulatory and settlement 
requirements.    As I mentioned this morning Sydney is the first "satellite 
office" to introduce EnronOnline. I would hope we can develop procedures that 
are robust enough to be used as a template by other Enron offices. 

 I suspect tomorrow will also be a fairly demanding day with the press coming 
in for the launching of EnronOnline and a number of us heading down to 
Adelaide for Project Taipan. However settling this issue is major priority 
for us.

We also spoke about procedures to approve  Australian incorporated 
counterparties who seek access to other Enron products. I confirm that Tana 
will be forwarding details of them to me for legal clearance. I will arrange 
procedures to discharge this function when I am out of the office as a 24 
hour turn around is required.