Gil:

Before any brokerage account can be opened, you need to advise the RAC group.  Please send an email to the three persons ("Cc") above explaining what accounts Enron North America Corp. ("ENA") requires and the purpose of those accounts (if you have not already done so).  ENA has a brokerage agreement with Bear Stearns Compamies, Inc. but not with Bear Stearns International Limited.  ENA already has resolutions for opening brokerage accounts.

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490