Chinese Wall training of one hour has been scheduled on the dates listed 
below.  The training is mandatory and allows EWS to continue operating all 
its buisnesses including equity trading without violating the securities laws.

 Please register for one of the four one-hour sessions listed below.  Each 
session is tailored to a particular commercial group, and it would be 
preferable if you could attend the session for your group.  (Your particular 
group is the one highlighted in bold on the list below.)  However, if you are 
unable to attend the session for your group, it is preferable that you attend 
another session rather than no session at all.

 Monday, March 5, 2001, 10:00 a.m. ) Resource Group
 Monday, March 5, 2001, 11:00 a.m. ) Origination/Business Development
 Monday, March 5, 2001, 3:30 p.m. ) Financial Trading Group
 Monday, March 5, 2001, 4:30 p.m.  ) Heads of Tra