Jay,

I wanted to send an e-mail to Imperial Sugar regarding the credit terms that 
we just talked about.  I wanted to run this e-mail by you first before I send 
it to  the customer.

Before entering into any trades, Imperial needs to post initial margin of 
$2MM with Enron.  Enron will continue to hold this cushion amount of margin 
as long as Imperial has any positions on with Enron.

Enron has the right to margin Imperial any time their MTM exposure to Enron 
exceeds $1.5MM.  We will margin in increments of $25,000.  If their exposure 
drops below $1.5MM we will return margin to them.  However, we will always 
maintain the cushion of $2MM.

Thanks,
Craig