Kaye:  Please print this message and documents.  SS
----- Forwarded by Sara Shackleton/HOU/ECT on 06/05/2000 08:14 AM -----

	mukunah@winstim.com
	06/03/2000 06:01 PM
		 
		 To: clint.freeland@enron.com, gareth.bahlmann@enron.com, 
kimberly.blue@ubsw.com, scott.whitney@ubsw.com, ryan.donovan@ubsw.com, 
scott.giese@ubsw.com, timothy.steele@ubsw.com, michael.davidson@ubsw.com, 
william.sullivan@ubsw.com, john.magovern@ubsw.com, raustin@houston.rr.com, 
mspradling@velaw.com, sara.shackleton@enron.com, who@velaw.com, 
gorloff@bracepatt.com, ktrautner@bracepatt.com, Rastin@velaw.com, 
ttabor@bankofny.com, kurzw@winstim.com, bergeronc@winstim.com, 
david.mikula@ubsw.com, bvascon@enron.com, atiller@enron.com, jlynch@velaw.com
		 cc: ecklandt@winstim.com, delaneyj@winstim.com, chudyj@winstim.com, 
earlyhud@winstim.com
		 Subject: Enron PATS 2000-1: ISDA Confirmations


Attached please find revised drafts of the ISDA confirmations consisting of:

1. Swap 1 - U.S. Dollar to Sterling Swap between UBS and Trust
2. Swap 2 - Company Contingent U.S. Dollar to Sterling Swap with UBS
3. Swap 3 - Sterling to U.S. Dollar Swap between UBS and Enron
3. Option 1 - Call Option between UBS and Trust
4. Option 2 - Company Call Option with UBS

Each of the documents is marked to show changes made from the initial drafts
distributed previously. UBS Warburg has not reviewed the attached drafts; 
hence
they remain subject to additional comments.

Best regards,

Hazel Mukuna

(See attached file: Swap 1 - UBS and Trust.doc)    (See attached file: Swap 1 
-
UBS and Trust.REDLINE.doc)


(See attached file: Swap 2 - Enron and UBS.doc)    (See attached file: Swap 2 
-
Enron and UBS.REDLINE.doc)


(See attached file: Swap 3 - UBS and Enron.doc)    (See attached file: Swap 3 
-
UBS and Enron.REDLINE.doc)


(See attached file: Option 1 - UBS and Trust.doc)  (See attached file: Option 
1
- UBS and Trust.REDLINE.doc)

(See attached file: Option 2 - Enron and UBS.doc)  (See attached file: Option 
2
- Enron and UBS.REDLINE.doc)






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 - Swap 1 - UBS and Trust.doc
 - Swap 1 - UBS and Trust.REDLINE.doc
 - Swap 2 - Enron and UBS.doc
 - Swap 2 - Enron and UBS.REDLINE.doc
 - Swap 3 - UBS and Enron.doc
 - Swap 3 -  UBS and Enron.REDLINE.doc
 - Option 1 - UBS and Trust.doc
 - Option 1 - UBS and Trust.REDLINE.doc
 - Option 2 - Enron and UBS.doc
 - Option 2 - Enron and UBS.REDLINE.doc