All:  I know that AFAC is busy with Enron matters.  However, I received this 
response from him on Monday (yesterday).  I have not spoken with either AFAC 
or Marcelo but it appears that they are very close to at least a "first 
draft".  My thought is that we review the response and identify specific 
areas and/or issues for refinement and then schedule a meeting in S.P.  I'll 
advise as soon as I hear further.  Sara 
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 10/19/99 11:44 
AM ---------------------------


"AF - Antonio Felix de Araujo" <Af@tozzini.com.br> on 10/18/99 09:15:18 AM
To: Sara Shackleton/HOU/ECT@ECT
cc:  
Subject: Re: Financial Trading memo



Sara:

I am sorry for not replying your e-mail before.  Marcelo has prepared a memo 
and a chart summarizing the memorandum on the matters we discussed before.  I 
will review the documents and send a copy to you during the course of the day 
today.  Once you have received them we can discuss any comments or questions 
you may have.

Best regards,

Antonio Felix

>>> "Sara Shackleton" <sshackl@ect.enron.com> 10/18 12:06 pm >>>


I know that you were in the Rio office during the latter part of last week.  I
sent you an e-mail last week to see how you were doing with the research/memo.
I also called Marcelo Rodrigues and left a message.  I have not heard from
either you or Marcelo and I am anxious to continue our dialogue.  Please 
e-mail
or call at your earliest convenience.  Thanks.  Sara