Zimin,

FYI. Please, install it.

Vince

 -----Original Message-----
From: 	"Erin Hopkins" <erin@fea.com>@ENRON [mailto:IMCEANOTES-+22Erin+20Hopkins+22+20+3Cerin+40fea+2Ecom+3E+40ENRON@ENRON.com] 
Sent:	Monday, July 02, 2001 2:11 PM
To:	vkamins@enron.com
Subject:	FEA Announces the Release of @GLOBAL 5.0

July 02, 2001

Enron North America Corp.
Vince Kaminski
1400 Smith Street
30th Floor, Rm. 3036B
Houston, TX 77002-7361
1 713-853-3848

Dear Vince Kaminski,

This is to inform you of the release of @GLOBAL v5.0. FTP download
instructions are available immediately. The download instructions are
included at the end of this email. Your CD's and manuals will be shipped to
you within 2 weeks. Please see below for more information regarding this new
release.

Please confirm that you are the correct recipient for this shipment and your
address above is correct by clicking reply and send. If any changes need to
be made, please make the changes above and reply.

Here is an overview of the new features from the release notes:

New License Keys Required

FEAs new licensing scheme requires new keys. If you received new @GLOBAL
license keys recently (within the last 6 months to a year), you need do
nothing, otherwise contact FEA to receive updated license keys. To get new
keys, contact FEA by email info@fea.com, fax +1-510-548-0332, or telephone
+1-510-548-6200. *To avoid downtime we strongly recommend you get and
install the new keys before installing the new software.

New Functions

The following functions have been added:

Function                Module  Description

MCEAPO                    2     Monte Carlo based, European average
                                (inverse)price option.
CPAMW                     4     Cash-or-nothing digital barrier option (hit
                                in time window, pay at maturity.
EPINM                     4     Kick-in at maturity option.
REVEADOM                  4     Reverse knock-out at maturity option.
EURO_BESTOF               5     Best-Worse of (two/three) assets.
EURO_DBESTOF              5     Best-Worse of (two/three) assests, digital
                                payment.
MCEQUITY_ASAIN            5     Monte Carlo European average-returns option
                                (up to 12 equities).
MCEQUITY_ASIAN_CLIQUET    5     Monte Carlo European average-returns option
                                (up to 12 equities) with cliquet features.

New Add-in Manager

@GLOBAL 5.0 comes with a new add-in manager that makes navigating between
different FEA templates very easy.  Simply open the fea\xlutil\readme.xls
and follow the instructions specified in the spreadsheet.

New Module

@GLOBAL.5 Baskets & Averages  has been added. Prior to this release,
functions in this module were part of the SPAV product.

New Templates

Templates have been added for the new functions and existing templates have
been updated.

New Features

All options now allow for positive or negative input amount. Negative
amounts can be useful to represent short positions. All options can now be
consistently evaluated on expiration date (zero time to expiry). An error is
still returned if the option has already expired (negative time to expiry).
European spread option models (EUDU, ECMXX, EPMNX) now support an
alternative tree implementation.

Speed Improvement

Our tests show a substantial speed improvement (40%-60%) from version 4.2,
especially for computationally demanding models.


If you have any questions please feel free to contact us. We appreciate this
opportunity to be of continuing service to Enron North America Corp..

Regards,
Michelle Mendoza
Email to: Support@fea.com
               or
          michelle@fea.com
Direct Tel: +1-510-549-8702 *111
Financial Engineering Associates, Inc.

*************************************************************************

To download @GLOBAL via FTP, follow the following instructions:

NOTE: Using EXPLORER leads to unpredictable results, so we suggest using
      NETSCAPE or a DOS shell.


USING NETSCAPE:

In the Location box type: ftp://global@ftp.fea.com
Password: 9cmccfcd

global-5.0-win32.exe is for Excel 7 or 97SR1, 2000 or XP, download and run
on
a local drive.

global40-unix.tar.Z is for Applix, download, unzip, and untar and
then follow the instructions in Readme_Install.


USING A DOS SHELL:

At a DOS prompt type: ftp ftp.fea.com
User: global
Password:  9cmccfcd

Type "binary" and hit 'return'.
Type "ls" for a list of available files.
Type "get" global-5.0-win32.exe and and wait for the ftp> prompt.
Type "quit".

The file will be downloaded into the directory at which you entered the ftp
site.
Double click on the exe and follow the instructions on the screen.

N.B.:  The password is only valid until the first Friday of next month.