Just to follow up: Is there any difference form an approval standpoint if the 
reference credits are to be posted on the web or only shown to a specific 
counterparty (as in the case below)?

Tomas


---------------------- Forwarded by Tomas Valnek/LON/ECT on 01/03/2000 17:18 
---------------------------


Tomas Valnek
01/03/2000 16:49
To: David Weekes/LON/ECT@ECT, William S Bradford/HOU/ECT@ECT, Paul 
Simons/LON/ECT@ECT, Edmund Cooper/LON/ECT@ECT, Mark Taylor/HOU/ECT@ECT
cc:  

Subject: Approval of Reference Credit

We are looking at giving an offer for a bankruptcy swap to Reliant Energy for

 Lumen Energy Corporation (Reference Credit)

The tenor of the deal would be April-December 2000 for a value of USD500k-1m.

On a more general note, could we please agree on procedures for approval of 
new reference credits.

Regards

Tomas