Lech - A high priority Master Netting and Setoff Agreement (see attached) is in the late stages of negotiation with the below-referenced AEP affiliates.  The agreement is currently intended to be limited to masters/ transactions between ENA &/or EPMI and two major AEP trading affiliates, American Electric Power Service Corporation as Agent for the AEP Operating Companies ("AEP") and AEP Energy Services, Inc. ("AEPESI").  The Netting Agreement explicitly identifies enabling agreements between those entities relating to trading physical gas, physical power, and financial swaps.  Earlier today the Enron Credit group indicated that ENA trades (using GTCs) physical coal and physical synfuel with American Electric Power Service Corporation.  Please contact me with any questions. -- David 

David A. Portz
Senior Counsel
Enron North America Corp.
1400 Smith, EB 3805a
Houston, Texas  77002-7361

Phone:   713-853-9239
Fax:  713-646-3491
Assistant:   Linda Simmons (Ext. 57851)