All:

I have verified with CP that we do not want to stop financial trading between 
CP and ENA.  The immediate plan is as follows:

(1)  Immediate new guaranty from Mirant Corporation  (Frank to send draft in 
the a.m.)

(2)  Immediate amendment of the existing ISDA Master Agreement to replace 
Vastar with Mirant Corporation as the credit support provider (CP to send 
draft in the a.m.)

(3)  Immediate execution of a short letter agreement to reflect that all 
financial trades done until the effective date of the new guaranty will be 
honored by CP and subject to the existing ISDA Master Agreement (I will 
prepare)

(4)  Review of the existing agreement to see if CP has issues (which we may 
consider).

If anyone has any questions, please let me knowl  

Let's all stay in touch throughout the day to get this done.  Thanks.


Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com