Just a head's up on NUI - I'll let you know when I hear from Stacy.

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
----- Forwarded by Sara Shackleton/HOU/ECT on 04/11/2001 11:16 AM -----

	Tanya Rohauer/ENRON@enronXgate
	04/11/2001 11:09 AM
		 
		 To: Sara Shackleton/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT
		 cc: Rudwell Johnson/ENRON@enronXgate, Mark Breese/HOU/ECT@ECT
		 Subject: NUI

Since NUI Utilites, Inc. is the rated entity, we are no longer requiring the 
$50MM NUI Corp gty for this transaction.  However, the financial swap (which 
should be 40,000/day total for May-Oct) is being documented under  the NUI 
Energy Brokers, Inc. existing ISDA.  Sara has modified to cross default the 
confirmation to the Credit Agreement.  Stacy, please share the language you 
are using for the Transaciton Agreement to compensate for the Credit 
Agreement expiry in December with Sara so the financial confirmation can be 
modified as well.  We also need to modify the financial confirmation to state 
that for this transaction only, NUI must be the Guarantor not NUI Capital.  
Then we must get a deal specific gty from NUI Utilites to cover this trade - 
probably $10MM.  This all arises because the finc/phys gty we were working on 
is out the window since NUI Utilities is the rated entity with associated 
balance sheet and the NUI Corp is not needed.  Please advise asap and call 
with any questions.

Thanks,
Tanya