---------------------- Forwarded by Randy Petersen/HOU/ECT on 09/14/2000 
01:50 PM ---------------------------


"Mike Cunningham" <mjc@chguk.com> on 09/14/2000 11:59:03 AM
To: <randy.petersen@enron.com>
cc:  
Subject: Kafus Reconstruction



Randy,
?
I attach a revised letter with a modified original  proposal and a proposal 
which is more in line with Ken's ambitions and  interests. I have no real 
beef either way.
?
I would like to see Kafus redeem itself and to  repay it's investors. I would 
also value Enron being involved in International -  and over the next few 
years I think that would, in itself, allow Enron to recoup  its losses. 
?
I confirm that, in International, I have no  interest in press releases or in 
the use of the Enron name to drum up capital or  investment.
?
The attached papers are simply outlines. If you  agree the concept then I 
will work with you to bring one or the other to  fruition.
?
Best regards,
?
Mike Cunningham
 - Coach House-Kafus- restructuring plan-letter.doc
 - Coach House-Kafus- restructuring plan-4.doc
 - Coach House-Kafus- restructuring plan-5.doc