a belated response to my inquiry regarding Project Summer, and our Turkish 
power station.  Do you want me to follow-up on the subsequent inquiry made in 
India and Korea, i.e., will there be "political" costs to be paid, or will 
our deal be held ransom to concessions extracted from us?  thanks mcs
---------------------- Forwarded by Mark Schroeder/LON/ECT on 03/07/2000 
14:56 ---------------------------


Fiona Grant
02/07/2000 20:50
To: Mark Schroeder/LON/ECT@ECT
cc:  

Subject: Re: Project Margeaux -- Reg. Review Section  

Mark -- while I have not asked our counsel in Ankara to look  into this 
specifically, I have made a couple of discrete enquiries on this front and 
can confirm that the Turkish Gov't would need to be involved in a transfer of 
ownership for Trakya or any kind of re-financing along the lines of Project 
Margeaux.   The MENR and TEAS (elec. company) are the two principals in this 
discussion.   FG



Mark Schroeder
02/06/2000 11:50
To: Fiona Grant/LON/ECT@ECT
cc:  

Subject: Re: Project Margeaux -- Reg. Review Section  

Thanks, when you were looking at this, and I do not see it in the attachment, 
is this question:  are any regulatory approvals required, by Government 
Ministry or Competition Authority, to transfer effective ownership or control 
of the Trakya assets, whether as envisioned in Project Margaux, or by other 
financing that would effectively look like an asset or equity sale?  thanks  
mcs



Fiona Grant
02/06/2000 11:40
To: Mark Schroeder/LON/ECT@ECT
cc:  

Subject: Project Margeaux -- Reg. Review Section


Apologies, had meant to do this before I left last night!



This is the information I supplied on regulatory issues as part of the 
overall Project Margeaux due diligence process.  Let me know if there is 
anything further I can send on the subject...

Fiona