Sara,

My Credit Manager advises that he needs to consult with one of our
Corporate Treasury's attorneys on the Cargill, Inc. guarantee, but
that attorney will be out all this week.  Hopefully I can get a
response to you on the guarantee early next week.

Meanwhile, attached please find one small change to Set-Off language
from the latest draft.  Can you please explain the reason behind
adding the second paragraph -- is this bankruptcy related?

Regards,
Mara Alexander
Sr. Documentation Analyst
Cargill, Incorporated
Tel: 952.984.3417
Fax: 952.984.3872
e-mail: Mara_Alexander@Cargill.com

-----Original Message-----
From: Alexander, Mara /xtwn
Sent: Monday, February 26, 2001 5:09 PM
To: 'Sara.Shackleton@enron.com'
Subject: RE: ISDA Master Agreement


Sara,

I'm sorry, but I'm still awaiting word on the Cargill, Inc. guarantee
of
Cargill-Alliant, which was in the hands of our Credit Manager for a
final
once-over.  (Unless they've by-passed me?  Have you seen a revised copy
of
this guarantee?)

I also need that same Credit Mgr. to give his final nod of approval to
the
Set-Off language you'd put into the last draft.  Our Legal only had on
a
couple of minor comments on it.

Thanks for the follow-up!  I intend to press hard this week for a final
response so we can at last get this wrapped up.

Mara Alexander
Sr. Documentation Analyst
Cargill, Incorporated
Tel: 952.984.3417
Fax: 952.984.3872
e-mail: Mara_Alexander@Cargill.com


-----Original Message-----
From: Sara.Shackleton@enron.com [mailto:Sara.Shackleton@enron.com]
Sent: Monday, February 26, 2001 4:45 PM
To: alexander, mara /xtwn
Subject: ISDA Master Agreement


Mara:  Are we done?  I don't think we have heard from you about the
master?
Can we go ahead and have the guaranty executed?  I don't think we have
any
outstanding issues.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


 - 2-27.doc