Jane:

Susan is trying to revise the Services Agreement once again and the 
"governing law" issue was raised.  I do not have any memoranda addressing 
which choice of law would be binding on Enron Japan Corp.  However, I note 
that the draft ISDA marked by our Japanese counsel for use by Enron Japan 
Corp. and IBJ elects New York law (AA email to me dated 9/21/00).  Are either 
Texas or New York law preferable for the Services Agreement? 

Thanks for your assistance.  Regards.


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