Will you modify the opinions you have to include this language?

Thanks,

Kay
 -----Original Message-----
From: 	Abrams, Clement  
Sent:	Thursday, December 06, 2001 9:14 AM
To:	Mann, Kay
Subject:	Investment Company Act

Kay,

This is the language generally offered by Mr. Derrick with respect to the '40 Act.  Please call if you have any questions.

Enron is not an "investment company" within the meaning of the Investment Company Act of 1940, as amended.

Clem