Clint,

Here is the revised version without the price trigger:
<<ENRON.issuerput.03.15.01c.doc>>

Sorry about the error.

How did the meeting with Andy go?

Russell F. Hackmann, CFA
Corporate Equity Derivatives
Lehman Brothers Inc.
(212) 526-8398
(212) 526-2755 (fax)
rhackman@lehman.com

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> -----Original Message-----
> From: Clint.Freeland@enron.com [SMTP:Clint.Freeland@enron.com]
> Sent: Friday, March 16, 2001 11:37 AM
> To: Hackmann, Russell
> Subject: RE: short dated puts
>
>
> Russ -
> Just for clarification, why is there a price trigger in this?  Assuming
> that the effective put price on the forwards is $19, where would you
> envision putting the trigger price?
>
>
>
>
>
>                     "Hackmann,
>
>                     Russell"             To:     "'Clinton Freeland
> (E-mail)'"
>                     <rhackman@leh        <clint.freeland@enron.com>
>
>                     man.com>             cc:     "'Sara Shackleton
> (E-mail)'"
>                                          <sara.shackleton@enron.com>
>
>                     03/16/2001           Subject:     RE: short dated puts
>
>                     10:04 AM
>
>
>
>
>
>
>
>
>
> This is a slightly revised version of this:
> <<ENRON.issuerput.03.15.01b.doc>>
>
> Russell F. Hackmann, CFA
> Corporate Equity Derivatives
> Lehman Brothers Inc.
> (212) 526-8398
> (212) 526-2755 (fax)
> rhackman@lehman.com
>
> This message is intended only for the personal and confidential use of the
> designated recipient(s) named above.  If you are not the intended
> recipient
> of this message you are hereby notified that any review, dissemination,
> distribution or copying of this message is strictly prohibited.  This
> communication is for information purposes only and should not be regarded
> as
> an offer to sell or as a solicitation of an offer to buy any financial
> product, an official confirmation of any transaction, or as an official
> statement of Lehman Brothers Inc., its subsidiaries or affiliates.  An
> e-mail transmission cannot be guaranteed to be secure or error-free.
> Therefore, we do not represent that this information is complete or
> accurate
> and it should not be relied upon as such.  All information is subject to
> change without notice.
>
> > -----Original Message-----
> > From:   Hackmann, Russell
> > Sent:   Thursday, March 15, 2001 1:03 PM
> > To:     Clinton Freeland (E-mail)
> > Cc:     Sara Shackleton (E-mail)
> > Subject:     short dated puts
> >
> > Clint,
> >
> > Here is the confirm for the proposed put options without net share
> > settlement,
> >
> >  << File: ENRON.issuerput.03.15.01.doc >>
> >
> > Russell F. Hackmann, CFA
> > Corporate Equity Derivatives
> > Lehman Brothers Inc.
> > (212) 526-8398
> > (212) 526-2755 (fax)
> > rhackman@lehman.com
> >
> > This message is intended only for the personal and confidential use of
> the
> > designated recipient(s) named above.  If you are not the intended
> > recipient of this message you are hereby notified that any review,
> > dissemination, distribution or copying of this message is strictly
> > prohibited.  This communication is for information purposes only and
> > should not be regarded as an offer to sell or as a solicitation of an
> > offer to buy any financial product, an official confirmation of any
> > transaction, or as an official statement of Lehman Brothers Inc., its
> > subsidiaries or affiliates.  An e-mail transmission cannot be guaranteed
> > to be secure or error-free.  Therefore, we do not represent that this
> > information is complete or accurate and it should not be relied upon as
> > such.  All information is subject to change without notice.
> >
>
>
> --------------------------------------------------------------------------
> ----
>
> This message is intended only for the personal and confidential use of the
> designated recipient(s) named above.  If you are not the intended
> recipient
> of this message you are hereby notified that any review, dissemination,
> distribution or copying of this message is strictly prohibited.  This
> communication is for information purposes only and should not be regarded
> as an offer to sell or as a solicitation of an offer to buy any financial
> product, an official confirmation of any transaction, or as an official
> statement of Lehman Brothers Inc.  Email transmission cannot be guaranteed
> to be secure or error-free.  Therefore, we do not represent that this
> information is complete or accurate and it should not be relied upon as
> such.  All information is subject to change without notice.
>
>
> (See attached file: ENRON.issuerput.03.15.01b.doc)
>  << File: ENRON.issuerput.03.15.01b.doc >>


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information is complete or accurate and it should not be relied upon as 
such.  All information is subject to change without notice.


 - ENRON.issuerput.03.15.01c.doc