Rod - Please review the attached documents and advise Sara if acceptable 
from a credit standpoint.   

 Souad -  Once Sara and Rod say docs are Ok, you can dup them out for the 11 
subs.  Show Sara all docs before you send them to CP.

 Sara - there is a Guarantor for Vidriera Mexico, S.A. de C.V.   The 
Guarantor is --Vitro Envases Norte America, S.A. de C.V.   Rod wants it to be 
an unlimited Guaranty on our form of CP GTY.   I am sending the form of GTY 
to Eduardo Melo by fax tonight at fax number 011-528-378-4793.  You will need 
to prepare a  form of sub deemed ISDA for this sub to include the GTY. 















Susan D. Flynn
Enron North America Corp.
1400 Smith Street, EB3806
Houston, Texas  77002
Phone:  713-853-0975
Fax:  713-646-3490