Mary:

Attached is the latest draft from Chase.    

In particular, please take a look at the following paragraphs:

2.A (the definition of "Securities")
5.B (lien on securities)
5.C (setoff)

The ENA contact is Gennaro Contella.  Please leave me or Sheila a voice mail 
and we can arrange a conference call on Monday with Gennaro, Nancy Callahan, 
if necessary (Chase legal) and anyone that you need to conference in on 
behalf of Enron Corp.  The traders are anxious to have this account in place.

Irrespective of which Enron entity takes ownership of this agreement, we were 
looking to you for information regarding existing Chase accounts (in ENA's 
name).  

Thanks for your help. 

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
----- Forwarded by Sara Shackleton/HOU/ECT on 06/01/2001 04:38 PM -----

	Nancy.K.Callahan@chase.com
	05/31/2001 01:45 PM
		 
		 To: Sara.shackleton@enron.com
		 cc: Gennaro.Contella@chase.com
		 Subject: Enron Global Custody and Clearance Agreement


As requested, attached is the final Agreement which I believe reflects the
revisions we discussed this morning.  If this is acceptable, please have
the Agreement executed on behalf of Enron and return the necessary
counterparts to me for signature by Chase.  I will then return fully
executed copies to you.
(See attached file: Enron.doc)
 - Enron.doc