Andy,

As we discussed at our last meeting, I attach for your review a proposal to
expand the link between EnronOnline and HoustonStreet on a global basis.  I
think the proposal makes a lot of sense when entering new global markets.
If you have time, I would like to discuss this proposal and our current
round of financing at HoustonStreet tomorrow afternoon.  Are you available
tomorrow afternoon to talk?  Any time is good with me.

Best regards,
Frank


 <<EOL JVproposal.225.ppt>>

 - EOL JVproposal.225.ppt