Elizabeth and I are coordinating on this matter. We commissioned the outside 
counsel advice together. Now that I'm back I'll get with her and see if we 
can reach some conclusions on these issues. Please feel free to call me if 
you wish to discuss further.

Elizabeth: I received a call from Leslie Hansen on this yesterday. I'll call 
her this week to discuss.

Alan




Tanya Rohauer
06/24/99 03:09 PM
To: Alan B Aronowitz/HOU/ECT@ECT
cc:  
Subject: Agency

Alan,

I am currently compiling a list of those utilities that to our knowledge have 
agents. I am also trying to round up all of the agency agreements from our 
files. In light of outside counsel's comments regarding the ability of an 
agent to bind more than one principal, I am quite concerned over the amount 
of business we do this way.  I would be interested in reading whatever you 
received from outside counsel.  Also, are you coordinating this with 
Elizabeth Sager?  Tracy Ngo , who works in our group, told me Elizabeth has 
outside counsel looking at this too ( she is working here part time?) and 
they are fairly comfortable with how these documents work for power. In 
addition, where do the FERC and SEC fit into the picture?  Tracy mentioned 
something about required approvals.  I am trying to determine our exposure to 
these contracts, and whether they truly place our credit risk with the 
utilities.

Thanks,
Tanya