Sara--

The following message is in regard to Greenfield Shipping.

What is your opinion on this issue?  I will call you to discuss.

Ellen

 -----Original Message-----
From: 	Anderson, Peter N.  
Sent:	Tuesday, November 13, 2001 6:07 AM
To:	Su, Ellen
Cc:	Wesner-Soong, Sarah; Rogers, Daniel R.
Subject:	FW: SWAP Unwinding

Ellen-
FYI.  Let's discuss today.  
Regards

 -----Original Message-----
From: 	hiroyuki.nikaido@mail.mol.co.jp@ENRON  
Sent:	Tuesday, November 13, 2001 5:40 AM
To:	Anderson, Peter N.; drogers2@ei.enron.com
Cc:	itoh@smbc-cm.com; hartley@smbc-cm.com; takeshi_okamoto@gb.smbcgroup.com; takashi.maruyama@mail.mol.co.jp; drb@jsm.com.hk; junji.sakuma@mail.mol.co.jp; Hisashi.Umemura@mol-finance.co.uk
Subject:	SWAP Unwinding

Peter,
Dan,


Please see our opinion about the procedure of Swap Cancellation
as below:


1.We appointed follwoing persons as our swap trader.

     Mr. Michael Hartley
     Ms. Yumi Ito

  of SMBC London


2.How to calculate Swap Breakage Cost

  We understnad the definition of "Reverse Transaction" in the
  Schedule One of the Contract means that banks (and ECTRI)
  calculate breakage cost with theoretical mean interest rate
  excluding any margin,(not with Libid)

Appreciate your confirmation


Regards
H.Nikaido