We have received the following executed Master Agreement:


Type of Contract:  ISDA Master Agreement (Multicurrency-Cross Border)

Effective Date:   December 22, 1999

Enron Entity:   Enron North America Corp.

Counterparty:   Empresa Distribudora de Energia Norte, S.A.

Transactions Covered:  Approved for all products with the exception of:  Pulp 
& Paper
           Weather
           Foreign Exchange