Kimberly:

Attached is a blacklined draft of the confirmation marked to show the proposed changes that Frank Sayre and Mark Taylor made.  If you have any questions, please call Frank at 57894.

Marie


	 

 -----Original Message-----
From: 	Hundl, Kimberly  
Sent:	Friday, July 27, 2001 1:14 PM
To:	Heard, Marie
Cc:	Murphy, Melissa Ann
Subject:	GE Asian Options Deal #705475

Please find attached a confirmation for this deal ("sampledoc").  I have changed the floating price language to reflect an Asian option (which I have never confirmed before), as opposed to our standard European options.  The standard floating price language for European Options is as follows:

The average of the hourly day-ahead prices as published by the New York Independent System Operator (the "NYISO") on the last day of the month that includes the applicable Determination Period on the NYISO's official web site currently located at http://mis.nyiso.com/public/index.html, or any successor thereto, under the headings "Day Ahead Market LBMP - Zonal; Zonal Prices; West (61757) (Zone F)" for electricity during the applicable Determination Period.

Please review the "Floating Price" section of this confirmation letter.

 << File: sampledoc.doc >> 
Please let me know if this confirmation correctly reflects an Asian option.  The trader would like for this confirmation to go out no later than today.  Please call me if you have any questions.
Thank You,
Kimberly Hundl (x31647)