Regarding the voice mail I left for you this afternoon.  How should we be 
confirming the AG trades?  Can we confirm them to the Glencore Ltd. Master 
Agreement?

thanks
brant


---------------------- Forwarded by Brant Reves/HOU/ECT on 02/14/2001 04:11 
PM ---------------------------
   


From:  Tom Moran                                                             
02/13/2001 10:32 AM	
	
	
	                           
	

To: Brant Reves/HOU/ECT@ECT
cc:  
Subject: Re: Glencore AG


---------------------- Forwarded by Tom Moran/HOU/ECT on 02/13/2001 10:32 AM 
---------------------------
   


From:  Mary Tudon                                                             
06/12/2000 04:56 PM	
	
	
	                           
	

To: Tanya Rohauer/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Tom 
Moran/HOU/ECT@ECT
cc:  
Subject: Re: Glencore AG

Tanya/Sara/Tom:

I spoke with David Porter, the credit person at Glencore Ltd., last Friday 
and inquired about Glencore AG's relation to Glencore Ltd., with which we 
have a master swap.  He indicated to me quite emphatically that Glencore 
Ltd., Glencore AG, and Glencore SA are one in the same.  He explained that 
when documents of incorporation were filed with the country of Switzerland, 
this one corporation registered three names which it uses to do business on a 
regional basis.  He faxed over some documents to that effect.  He indicated 
that while Glencore Ltd., the branch arm doing business here in the states 
has the master, the master should cover Glencore AG, since it is the same 
company only the European branch.  He has even offered to work on an 
amendment to the master to cover the addition of the second name, Glencore 
AG..

Sara, I will send you the documentation that David Porter faxed me.  Please 
let me know your opinion of the information contained.

Thanks, Cathy Tudon
x3-0699
---------------------- Forwarded by Mary Tudon/HOU/ECT on 06/12/2000 04:40 PM 
---------------------------
   


From:  Tom Moran                                                             
06/12/2000 02:13 PM	
	
	
	                           
	

To: Tanya Rohauer/HOU/ECT@ECT, Mary Tudon/HOU/ECT@ECT, Sara 
Shackleton/HOU/ECT@ECT
cc:  
Subject: Re: Glencore AG  


We received some interesting information from Glencore on Friday.  Cathy, 
could you please summarize the documentation and conversation you had with 
David Porter last Friday.

Thanks!   tm


   


From:  Tanya Rohauer                                                          
   06/12/2000 02:09 PM	
	
	
	                           
	

To: Tom Moran/HOU/ECT@ECT
cc:  
Subject: Glencore AG

fyi..I do not know what the anticpated deal flow is (all liquids/products) or 
why we cannot use Glencore Inc as the transacting entity where we have a 
master.
---------------------- Forwarded by Tanya Rohauer/HOU/ECT on 06/12/2000 02:06 
PM ---------------------------
From: Sara Shackleton on 06/12/2000 12:09 PM
To: Tanya Rohauer/HOU/ECT@ECT, Rod Nelson/HOU/ECT@ECT, Paul 
Radous/Corp/Enron@ENRON
cc:  
Subject: Glencore AG

We are continuing to send Deemed ISDA's to this entity (periodically) and 
have transacted with other Glencore entities in the past.   I would like to 
generate a draft ISDA and send to these guys because it will make our life 
easier (and we say as much in a Deemed ISDA).  Thanks.  Sara