I hope Bruce's explanation is sufficient!  Please call me if you have any 
other questions.  Thanks.  Sara
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 01/17/2000 
04:34 PM ---------------------------


Bruce Harris@ENRON_DEVELOPMENT
01/17/2000 02:08 PM
To: Sara Shackleton/HOU/ECT@ECT
cc: Nancy Muchmore/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Glenn E 
Matthys/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rick 
Hopkinson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bruce 
Harris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT 
Subject: Re: Enron Pipeline Company - Argentina S.A. ("EPCA")  

The purpose of the account is to buy 0.5% of TGS shares.  By buying those 
shares, Enron will be able to utilize NOLs that are currently trapped in 
CIESA, the parent company of TGS.  Jeff Kinneman's group will handle actual 
market execution.  Glenn, please forward to Ted and Sara a  copy of the 
signed DASH.

Regards,  Bruce



Sara Shackleton@ECT
01/17/2000 02:03 PM
To: Bruce Harris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Nancy 
Muchmore/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:  

Subject: Enron Pipeline Company - Argentina S.A. ("EPCA")

Would someone please provide me with an explanation of the purpose of this 
account.  Thanks.  Sara
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 01/17/2000 
02:02 PM ---------------------------


Susan Bailey
01/17/2000 01:11 PM
To: Sara Shackleton/HOU/ECT@ECT
cc:  
Subject: Enron Pipeline Company - Argentina S.A. ("EPCA")

Sara,

Ted Murphy has executed the documents relating to the opening of a brokerage 
account for EPCA @ Morgan Stanley.  Ted has asked that you send him an e:mail 
message as to the purpose of the EPCA brokerage account.

Thanks.