---------------------- Forwarded by Lisa Mellencamp/HOU/ECT on 02/28/2000 
02:52 PM ---------------------------


"Rick Antonoff" <rantonof@cwt.com> on 02/28/2000 02:13:38 PM
To: Lisa Mellencamp/HOU/ECT@ECT
cc: "David Mitchell" <DMITCHEL@cwt.com> 
Subject: Cross-Product/Cross-Affiliate Netting





Attached below is our second revised draft memorandum addressing the issues we
have been discussing with you on cross-product and cross-affiliate netting and
setoff, and incorporating your comments on our earlier draft.

We look forward to further discussing this with you.

(See attached file: Netting memo.doc)



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 - Netting memo.doc