A significant number of our merchant investments are owned in whole or in 
part through various structured finance vehicles.  Amendments, 
restructurings, dispositions, follow-on investments and other significant 
transactions related to those assets may be prohibited or may require 
internal or external consents.  As the commercial teams may not always be 
familiar with these vehicles or the special considerations that may apply to 
these vehicles, you may want to confirm with the attorney/legal assistant 
that is most familiar with the particular vehicle that (i) the appropriate 
people are "in the loop" with what you are doing with the asset, and (ii) 
that there won't be any unpleasant surprises (like a required consent that 
has not been obtained) five minutes before you are supposed to close whatever 
transaction you are working on.

The contacts for the most active vehicles are:  

JEDI - Jordan Mintz
JEDI II -- Joel Ephross, Shirley Hudler
Raptor and Trutta -- Joel Ephross, Lisa Mellencamp, Mary Cook
Merlin -- Anne Koehler 
Rawhide -- Mary Heinitz, Brenda Funk
Hawaii -- Gareth Bahlmann

In addition, please make sure that Shirley Hudler is aware of any significant 
pending transaction involving a JEDI II asset.  With respect to new deals, I 
understand that the JEDI II commitment period has been extended to June 30, 
2001, and that as a result ENA will still have an obligation to place 
"qualified investments" in JEDI II.  While EGF will have a good handle on the 
funding source for your deal, in the early stages the commercial team is not 
always aware that JEDI II is still out there.  Again, if you have any 
questions, please contact Shirley Hudler.  


Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3893
Houston Texas 77002
Phone:  (713) 853-1575
Fax: (713) 646-3490