Sara,
As per my voice mail the attached document contains JPM's comments.

(See attached file: JPMorganFuturesEnronBlklned2232001.doc)

With regard to Section 2, 6(c), 14, 17 and 24:

   Section 2: Our debit rate benchmark for $ is the 30 day Libor rate with a
   spread.  We typically do not reference the rate in the agreement to allow 
for
   changes.  We do have an interest schedule that I can have e-mailed to you 
on
   Monday when the salesperson returns.
   Section 6 (c): Our credit rate benchmark for $ is the 13 wk T-bill with a
   spread.  As above, we typically do not reference the rate in the agreement 
to
   allow for changes as agreed between JPMFI and Client.  I will have our
   salesperson include this schedule in the e-mail.
   Section 14: If we are to include arbitration language, the CFTC mandates 
the
   exact form (180.3 of the CEA).  I can fax you the language and the reg.
   Please send me an e-mail with your fax number.
   Section 17: Unfortunately we cannot accept the additional language.  
Clients
   are sent daily statements in which they are required to notify us any
   objections within 24 hours since the nature of the futures market is such
   that large market movements can occur over short periods of time.  The
   monthly statement is a recap of the daily statements and the same reasoning
   applies.
   Section 24:  We can accept the deletion of the witness line as long as 
Enron
   does not intend to trade SGXDT.



Please feel free to call me at your earliest convenience (212) 648-4292.

Thank you and Regards,
Corinne






Thomas P Alterson
02/22/2001 01:01 PM

To:   Corinne A Samon@JPMORGAN
cc:
Subject:  FW: Futures Agreement  (Document link not converted)





Sara.Shackleton@enron.com on 02/22/2001 10:27:22 AM

To:   alterson_thomas@jpmorgan.com
cc:
Subject:  Futures Agreement




Thomas:

Attached is a redline of the Client Agreement.  I know that Gary Hickerson
will be meeting with J P Morgan early next week and would like to have this
agreed.  Please advise as to what attorney will review my comments and put
me in touch with that person today.  Please let me know if you have any
questions.  Thanks.

(See attached file: JPMorganFutures.R1doc.doc)


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

 - JPMorganFutures.R1doc.doc
 - JPMorganFuturesEnronBlklned2232001.doc