Denis -

Deutsche Bank recently completed an ISDA with ENA.  On the heals of this 
agreement, they are now working on getting access to EOL for financial 
trading.  They originally provided five pages of comments to the ETA and 
Password Application, but it was clear from the comments they really did not 
understand how EOL was presented for use.  I provided a letter to them better 
explaining the way EOL works.  They have recently provided additional 
comments to both documents.  

Tana suggested that you may have worked on an ETA with Deutsche Bank for 
EnronCredit.  Accordingly, before I move forward and respond to/negotiate the 
changes, I wanted to check with you and see if this was accurate and, if so, 
whether or not you agreed to changes in the document.  If so, could you 
please give me a heads up as to what areas were modified and were big issues.

Let me know at your convenience.

Cheers!!

Mark
Senior Counsel, EWS Legal
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com