Cheryl:

Goldman is one of the brokers "messed up" in Lotus Notes.  I had given you 
the files some time ago with my comments.  I think it would make sense for us 
to sort through Goldman for all affiliated companies.  I don't see an 
agreement in Lotus Notes for ECT Inv. and Goldman Int'l.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 02/23/2001 08:37 AM -----

	Theresa T Brogan
	02/22/2001 06:20 PM
		 
		 To: Sara Shackleton/HOU/ECT@ECT, Cheryl Nelson/NA/Enron@Enron
		 cc: Cassandra Schultz/NA/Enron@Enron, John Greene/LON/ECT@ECT, Sheila 
Glover/HOU/ECT@ECT
		 Subject: Goldman Sachs International - Terms of Business Letter

Sara/Cheryl,
 ECT Investments Inc has received a faxed document from Goldman Sachs 
International  regarding terms of business for executing equity transactions 
through the London office.  This document is not intended for the purposes of 
opening up a new executing broker accouunt with Goldman Sachs International.  
ECT Investments Inc currently has an existing executing broker agreement with 
Goldman Sachs & Co which should cover trades done in Houston and London since 
we are trading under the same legal entity.  The Terms of Business Letter 
sets forths terms and conditions that would apply to transactions executed by 
ECT Investments in London which is governed under the SFA rules and 
regulations.
 I will forward a copy of the document to Cheryl.  Goldman Sachs 
International is waiting for us to review and sign.  If you have additional 
questions and concerns, I can be reached at extension 31439.


Thanks,
Theresa