Based on last night's mids...we show that ENA owes $21,541. Deals go out to 2004 and remaining tonnage is approx 22,500. Approx notional difference per ton of $26 seems to be a reasonable bid-offer spread (being that the fixed prices on the deals were $810 and $825).  Bob, do you agree with my assessment?  I cannot imagine 16 Bleached Folding Carton has much liquidity (what the hell is it???). Sara, you may want to forward the calcs to Bob...if we have any other 16 BFC deals (although I have a hard time believing we do) this may be a useful price point for other valuations. Sara, can we present a counterparty's calcs in lieu of standard quotes? 

tanya
 -----Original Message-----
From: 	Shackleton, Sara  
Sent:	Friday, January 04, 2002 5:03 PM
To:	Rohauer, Tanya; Crane, Bob
Subject:	Jefferson Smurfit Corp.

Termination letter setting Termination Date as 1/25/02.
Terminates the ISDA Master Agreement and deal nos. Y23821.1 and Y20976.1.
ENA owes $604,957.62 and "calculations" are attached.

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490