Paul, Matt and Edmund:

Attached is a copy of the Master Netting Agreement among BNP Paribas and Enron North America Corp., et al.  It is imperative that this master netting agreement be executed as soon as possible tomorrow morning (11/27), so I am asking your assistance in getting this document signed.  The UK entities to sign are EEFT, Enron Capital & Trade Resources Limited, Enron Credit Limited and Enron Metals Limited.  Please leave the signature pages as set forth on the attached document, as Enron Metals may be deleted from the agreement.  At this point, we aren't sure, so we will have it sign on a separate page and then if they are not a party to the agreement, we will omit their signature page.  

Please take whatever steps are necessary to have the attached document signed ASAP.  Harlan Murphy (713/345-2679 is the lawyer here in Houston who prepared the document.  Please contact either Harlan, Mary Cook (713/345-7732), Elizabeth Sager (713/853-6349) or Carol St. Clair (713/853-3989) if you have any questions.  Bill Bradford is the Credit contact and his number is (713) 853-3831.

When the document is signed, please fax the signature pages to me at (713) 646-3490.

MANY THANKS!!!!!!!

Marie

Marie Heard
Senior Legal Specialist
Enron North America Corp.
Phone:  (713) 853-3907
Fax:  (713) 646-3490
marie.heard@enron.com