Anita sent me the message below re: board resolutions to trade out of 
Singapore.  Can Singapore trade out of the board resolution that was approved 
for ECT Interntional, or are we going to have to get another board resolution 
signed allowing financial trading out of the Singapore office?
---------------------- Forwarded by Tana Jones/HOU/ECT on 10/18/99 06:27 PM 
---------------------------


Anita Fam
10/18/99 05:34 AM
To: Angeline Poon/SIN/ECT
cc: Tana Jones/HOU/ECT@ECT, Matthias Lee/SIN/ECT@ECT 
Subject: Re: ISDA Master Agreement with Caltex Trading Pte Ltd  

Hi Tana,

Just to clarify .. the ISDA will be entered into by ECTRIC (S'pore Branch).

Thanks for your help!

Rgds,
Anita



Angeline Poon
10/18/99 04:06 PM
To: Tana Jones/HOU/ECT@ECT
cc: Anita Fam/SIN/ECT@ECT, Matthias Lee/SIN/ECT@ECT 
Subject: ISDA Master Agreement with Caltex Trading Pte Ltd

Hi Tana

We have entered into an ISDA Master Agreement with Caltex Trading Pte Ltd.    
As we need to put in place a proper resolution, could you please let us know 
whether you have any standard board resolution template so that we may also 
use it to pass the necessary board resolution?

Thanks
Angeline