We have received the following executed Master Agreement:

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

Effective Date:   08/14/94

Executed Date:   05/11/00

Enron Entity:   Enron North America Corp.

Counterparty:   J. Aron & Company

Transactions Covered:  All products, except pulp & paper


Please note the following:

1. This ISDA Master Agreement supersedes and replaces the Master Energy Price 
Swap Agreement with the referenced Counterparty dated as of   03/09/93.
2. Incorporated is the ISDA Master Agreement is the consent to the assignment 
by Columbia Energy Services Corporation ("CES") to ENA of the financial  
transactions between CES and J. Aron & Company.
3. J. Aron & Company is the Calculation Agent and Confirming Agent under the 
ISDA Master Agreement.