We received the following executed Master Agreement:


Type of Contract:   ISDA Master Agreement (Multicurrency - Cross Border)

Effective Date:  November 2, 1998

Enron Entity:  Enron North America Corp.

Counterparty:  Statoil Marketing & Trading (US), Inc.

Transactions Covered: Approved for all  products, except pulp and paper, 
weather, and foreign exchange



PLEASE NOTE:   The Counterparty has three Local Business Days to accept or 
dispute the Confirmation.