Mary:  Please let me know what happens.  All calculations should be made as 
of a specific date.  Sara



	Mary Cook
	08/02/2000 01:12 PM
		 
		 To: John Suttle/HOU/ECT@ECT
		 cc: Sara Shackleton/HOU/ECT@ECT
		 Subject: ParPak

See the attached proposed letter for ParPak.  I need the rest of the 
calculations, the Value of the Posted Credit Support as of the Valuation Date 
and the difference.  Do you normally have the trader review this type of 
letter prior to sending?  I think we should in this instance.  I expect 
ParPak to reply with a request for a Return Amount.  As this occurs, please 
let me draft that letter as well.  Thank you. 
I will finalize the letter for you when I get the calculations.  Any 
questions, please call.  Mary