Mark,

The attached spread for Rob Fuller is identical to John Arnold's.  This will 
replace the current crude spread product as a new product type.  Please 
review and let us know if you have any questions.

Thanks,

CW
3-7533

 -----Original Message-----
From:  Meredith, Kevin  
Sent: Friday, May 25, 2001 1:05 PM
To: Walker, Chris; Lozano, Melba
Subject: FW: Crude Spread



 -----Original Message-----
From:  Meredith, Kevin  
Sent: Monday, May 21, 2001 3:47 PM
To: Fuller, Robert
Subject: Crude Spread

Rob,

Please review the attached long description for the spread product you've 
requested.  Additionally, please confirm that the unit of measure will be 
barrels per month and that you understand the functionality of the product 
(i.e. one product on the website, two swap transactions once hit/lifted).  
Let me know what you think.

Kevin
(713) 853-9555