Please disregard the confirm attached below. Per ongoing conversations, they 
now want for us to create a confirm that allows them to add or delete shares 
at any time without having to create a new confirm for any new trade. They 
expect the volume of trades will increase in the near future. I will revise 
the confirmation to include language to ths effect for your review. I will 
send it to you shortly. I would like to meet with you along with Aneela 
Charania, who is the transaction, to ensure  the confirm captures what is 
intended. Once you receive the revised confirm I will call Kaye to schedule a 
meeting with you.

Thanks for your patience.

Jorge
---------------------- Forwarded by Jorge A Garcia/NA/Enron on 03/28/2001 
10:42 AM ---------------------------


Jorge A Garcia
03/28/2001 09:52 AM
To: Sara Shackleton/HOU/ECT@ECT
cc: Laurel Adams/HOU/ECT@ECT, Aneela Charania/HOU/ECT@ECT 

Subject: Re: Equity Swap ISDA Confirmation  

Good Morning Sara,

Thank you again for reviewing the Equity Swap ISDA Confirmation the other 
day. They now want to capture the trades in question as a basket equity swap. 
I have modified the confirmation to accommodate the basket and included Annex 
I. Please review and advise if any changes should be made. 

Thanks!

Jorge A. Garcia
Manager- Risk Management
Enron Global Markets LLC
713/853-5596