Sandra,

Thank you for your e-mail,  Pamela and I have just concluded discussions 
regarding FPC's comments to our Master Agreement.   The only outstanding 
issues relate to credit and arbitration.  I will keep you apprised of our 
progress.


Best regards,
Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490