Attached are Quilkey's responses to our findings.  Let's discuss and give 
consolidated feedback to his responses.

Thanks,
Bill

---------------------- Forwarded by William S Bradford/HOU/ECT on 03/29/2000 
07:37 AM ---------------------------


Paul Quilkey@ENRON_DEVELOPMENT
03/29/2000 01:49 AM
To: William S Bradford@ECT
cc: Heidi Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT 
Subject: Risk Report

Bill

Attached is a response to the main observations of  Project Doorstep.
I would be interested in your feedback.  As a note the Settlements Residue 
Position has recovered significantly and we will  end the quarter with 
liquidations 
approximately $3k under the forward value or a 6% variation.  Importantly, we 
are in the black and heading the right way!

Thnx
paul