Sheri:

The physical power products on DynegyDirect have now been approved, with the 
exception of the West firm product.  Thus, go ahead and set up the East power 
traders to trade physical power on behalf of EPMI.  Do not set up any West 
traders to trade on DynegyDirect until you receive confirmation from me that 
the West products are okay.  

Please make clear to the power traders that they may trade ONLY physical 
power with their EPMI passwords.  If they want to trade financial power 
products, they must obtain an ENA password (since Enron North America, not 
Enron Power Marketing is the Enron entity that trades derivative products).  
There are a couple of changes to the power swaps currently posted that need 
to be made before I can approve the issuance of passwords to trade financial 
products (plus I want Brent Hendry's sign off as well).

The following lawyers must approve the commodity groups set out below before 
you can proceed to set up additional users of Dynegy Direct:

Dan Hyvl:  Physical Gas
Marcus Nettelton:  Liquids  (products plus on-line General Terms and 
Conditions to be approved)
Brent Hendry:  Financial Products

The ENA gas traders will only need to receive one password for physical and 
financial products.  However, the liquids traders will, like the EPMI 
traders, receive an EGL password for physical liquid products and an ENA 
password for financial liquid products, and will need to be instructed that 
they need to use the passwords accordingly.

Please do not hesitate to give me a call with any questions or comments.

Happy holidays!

Leslie