I am pleased to announce that as detailed below, we now have an ISDA in place 
between Westpac and ENA. Trading between these parties can resume as far as 
Legal is concerned.

David Minns is working on finalizing the ISDA between Enron Australia and 
Westpac based on the above agreement. I would expect that to be concluded 
shortly. 

Shari  


---------------------- Forwarded by Susan Flynn/HOU/ECT on 04/20/2000 12:49 
PM ---------------------------


Susan Flynn
04/20/2000 10:09 AM
To: Jefferson D Sorenson/HOU/ECT@ECT, Laurel Adams/HOU/ECT@ECT, Andrea R 
Guillen/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT, David P Dupre/HOU/ECT@ECT, 
Chris Walker/HOU/ECT@ECT, Jarrod Cyprow/HOU/ECT@ECT, Pamela 
Sonnier/HOU/ECT@ECT, Sheetal Patel/HOU/ECT@ECT, Souad 
Mahmassani/Corp/Enron@ENRON, Gordon Heaney/Corp/Enron@ENRON, Kevin 
Meredith/Corp/Enron@ENRON, Derek Bailey/Corp/Enron@ENRON, Bruce 
Mills/Corp/Enron@ENRON, Jean Bell/HOU/ECT@ECT, Harry Bucalo/HOU/ECT@ECT, 
Charlie Hoang/HOU/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Marie Heard/HOU/ECT@ECT, 
Sara Shackleton/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, 
Susan Bailey/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Mary 
Solmonson/HOU/ECT@ECT, Marilyn Colbert/HOU/ECT@ECT, Yolanda 
Cordova-Gilbert/HOU/ECT@ECT, Diane Ellstrom/HOU/ECT@ECT, Lynn E 
Shivers/HOU/ECT@ECT, Willie Harrell/HOU/ECT@ECT, Bill D Hare/HOU/ECT@ect, 
Jason Moore/HOU/ECT@ECT, Leslie Reeves/HOU/ECT@ECT, Dianne Seib/CAL/ECT@ECT, 
Samuel Schott/HOU/ECT@ECT, Anthony Campos/HOU/ECT@ECT, Julie 
Meyers/HOU/ECT@ECT, Mary G Gosnell/HOU/ECT@ECT, Bernice 
Rodriguez/HOU/ECT@ECT, Connie Sutton/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, 
Willie Harrell/HOU/ECT@ECT, Anthony Campos/HOU/ECT@ECT, Carrie 
Southard/HOU/ECT@ECT, Frank L Davis/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, 
Lisa Gillette/HOU/ECT@ECT, Amber Ebow/HOU/ECT@ECT, William S 
Bradford/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Nidia 
Mendoza/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Rod 
Nelson/HOU/ECT@ECT, Russell Diamond/HOU/ECT@ECT, Tracy Ngo/HOU/ECT@ECT, John 
Suttle/HOU/ECT@ECT, Tracy Ngo/HOU/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Molly 
Harris/HOU/ECT@ECT, Christopher Smith/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, 
Molly Harris/HOU/ECT@ECT, Kevin P Radous/HOU/ECT@ECT, Veronica 
Espinoza/Corp/Enron@ENRON, Edward Sacks/Corp/Enron@Enron
cc:  
Subject: Westpac Banking Corporation

 We have received the following executed Master Agreement:

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

Effective Date:  April 12, 2000

Enron Entity:  Enron North America Corp.

Counterparty:     Westpac Banking Corporation

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


PLEASE NOTE:   The Counterparty is the Calculation Agent.   The Counterpary 
has three (3) Local Business Days after the receipt of a Confirmation from 
ENA to accept or dispute the Confirmation.