How can the contractual currency be USD and the invoicing be in FF as 
indicated below.  I guess I don't really care what currency is used as ECTRIC 
will be responsible for hedging its currency risk with Hickerson; however, 
shouldn't the contractual and termination currency be the same?


From: Sara Shackleton on 11/30/2000 10:26 AM
To: Tanya Rohauer/HOU/ECT@ECT
cc:  
Subject: Re: SITA

Tanya:  Is Lee the right person to approve this change for SITA?  Remember, 
SITA is acutally with ECTRIC (nto ENA) and SITA wanted to settle in Euros.  
Thanks.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 11/30/2000 10:23 AM -----

	Lee Munden
	11/30/2000 09:44 AM
		 
		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: 
		 Subject: Re: SITA

Sara 

Sorry for delayed response.

Tom says below that the invoice is likely to be in French Francs (FF) , 
therefore, I would have thought that having contractual currency as FF (or 
Euro as / when it replaces the FF)  is the most sensible. 

As the early termination value is likely to be calculated in FF or Euro, I 
think that this would not be a problem either.

Please feel free to give me a call if you wish to discuss 207 783 6755

regards 

Lee
---------------------- Forwarded by Lee Munden/LON/ECT on 30/11/2000 15:41 
---------------------------
   


	Enron Europe
	
	From:  Tom Bruce-Jones                           29/11/2000 08:13
	

To: Lee Munden/LON/ECT@ECT
cc:  

Subject: Re: SITA  

FF



Lee Munden
27/11/2000 18:04
To: Tom Bruce-Jones/LON/ECT@ECT
cc:  

Subject: Re: SITA  

Tom 

What currency will we invoice in?

Lee


   


	Enron Europe
	
	From:  Tom Bruce-Jones                           27/11/2000 16:07
	

To: Lee Munden/LON/ECT@ECT
cc:  

Subject: SITA

Lee
As you are perhaps aware, the Master for this CP has been arranged thru 
Houston.  Would you cast your eye over the comments laid out below and revert 
to either Sara or Tanya with your comments.  
As background, Houston has negotiated all the docs and were intending to 
trade out of Houston.  This CP has now been handed over to us and all trades 
will be generated from here.
Any help much appreciated.
Tom
---------------------- Forwarded by Tom Bruce-Jones/LON/ECT on 27/11/2000 
16:06 ---------------------------
From: Michael Moulton@ENRON COMMUNICATIONS on 27/11/2000 06:57 PST
To: Tom Bruce-Jones/LON/ECT@ECT
cc:  

Subject: SITA


----- Forwarded by Michael Moulton/Enron Communications on 11/27/00 06:05 AM 
-----

	Sara Shackleton@ECT
	11/22/00 01:41 PM
		 
		 To: Tanya Rohauer/HOU/ECT@ECT
		 cc: Michael Moulton/Enron Communications@Enron Communications
		 Subject: SITA

Tanya:

SITA now insists on having the Termination Currency and the Contractual 
Currency, except as otherwise agreed in any Transaction/Confirmation, as the 
Euro.  They will not agree to USD.  [By the way, SITA's lawyers had already 
agreed to USD]  Effectively, if we agree to this, the trader will need to 
confirm each deal in USD (Contractual Currency) but if we early terminate, 
the currency will be Euro's (Termination Currency).

What do you want to do?  Other than the Enron Corp. guaranty, we are finished.

Sara