-----Original Message-----
From: 	kdavis@manfinancial.com@ENRON  
Sent:	Friday, November 02, 2001 10:48 AM
To:	Arnold, John
Subject:	RE: Positions

The answer would be yes if it were the only ex-pit instructions we received
today.

Given that you have instructed us already to ex-pit the 926 August 03
position, we would only want you to transfer 734 of the May 02 futures.

If you only do the 1660 May 02 or, if you do the 926 august 03 and 734 May
02 then YES, we will wire the money immediately after one or other of those
expits are achieved.

Kevin

-----Original Message-----
From: John.Arnold@enron.com [mailto:John.Arnold@enron.com]
Sent: Friday, November 02, 2001 4:43 PM
To: kdavis@manfinancial.com
Subject: RE: Positions


Will you wire the money immediately when this is done?

    -----Original Message-----
   From:   kdavis@manfinancial.com@ENRON
   Sent:   Friday, November 02, 2001 10:10 AM
   To:     jarnold@enron.com
   Cc:     Wesner-Soong, Sarah; Deffner, Joseph
   Subject:  Positions

   Dear John

   In place of the original transfer of options that we sent you yesterday,
   I
   propose the following transfer instead. You will note that it includes
   no
   options at all.

   short 1660 May 2002 futures

   Please understand that this entire affair is making me as uncomfortable
   as
   it is clearly making you.

   Kind regards
   Kevin R Davis



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