Tana,

Per your note below, I have contacted our legal department in regards to the
status.  I originally forward it to them for review prior to Michel's meeting
with your company and I apologize for the delay in returning a signed copy to
you.

Regards,

Caitlin Abramovitz
---------------------- Forwarded by Caitlin Abramovitz/MGMT/US/INSTINET on
07/31/2000 12:09 PM ---------------------------


"Tana Jones" <Tana.Jones@enron.com> on 07/31/2000 10:26:19 AM

To:   Michel Finzi/TDESK/US/INSTINET@INSTINET
cc:   "John Pavetto" <John.Pavetto@enron.com>
Subject:  Instinet Corporation Confidentiality Agreement





Mr. Finzi,

We have heard back from you regarding the Confidentiality Agreement referenced
below.  Can you please let me know when we might expect your comments?  Thank
you.
----- Forwarded by Tana Jones/HOU/ECT on 07/31/2000 09:25 AM -----
|--------+----------------------->
|        |          Tana Jones   |
|        |                       |
|        |          07/12/2000   |
|        |          05:32 PM     |
|        |                       |
|--------+----------------------->
  
>----------------------------------------------------------------------------|
  
|                                                                            |
  |       To:     
michel_finzi@instinet.com                                    |
  |       
cc:                                                                  |
  |       Subject:     Instinet Corporation Confidentiality 
Agreement          |
  
>----------------------------------------------------------------------------|




----- Forwarded by Tana Jones/HOU/ECT on 07/12/2000 05:31 PM -----
|--------+----------------------->
|        |          Tana Jones   |
|        |                       |
|        |          07/12/2000   |
|        |          04:59 PM     |
|        |                       |
|--------+----------------------->
  
>----------------------------------------------------------------------------|
  
|                                                                            |
  |       To:     
michel-finci@instinet.com                                    |
  |       cc:     Louise Kitchen/HOU/ECT@ECT, John 
Pavetto/Corp/Enron@Enron    |
  |       Subject:     Instinet Corporation Confidentiality 
Agreement          |
  
>----------------------------------------------------------------------------|



Please find attached a copy of the referenced Confidentiality Agreement.  
Please
call me at (713) 853-3399 if you have any comments or questions.  If the
agreement meets with your approval, please have an authorizied officer of the
company execute it and return the signed document to me at the fax number 
below.
Thanks for your attention herewith.

(See attached file: Instinet.doc)

Tana Jones
Paralegal
Ph:  (713) 853-3399
Fax:  (713) 646-3490





 - Instinet.doc