The ISDA should be between Northern Border Partners, LP and RMT.  Northern 
Border Partners, LP is a Delaware limited partnership and , as such, income 
from a financial trade between the two parties will be sourced to Delaware 
(the desired result).  Please call me if you have any other questions.
Rhett  


From: Sara Shackleton on 02/21/2001 08:51 AM
To: Jeff Blumenthal/Enron@EnronXGate, Rhett Jackson/HOU/ECT@ECT
cc:  
Subject: Worksheet - Northern Border Partners

Jeff and/or Rhett: 

Can you advise me as to Northern Border Partners, L.P. below?  Thanks.

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 02/21/2001 08:49 AM -----

	Susan Bailey
	02/20/2001 05:15 PM
		 
		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Brant Reves/HOU/ECT@ECT
		 Subject: Worksheet - Northern Border Partners

Sara,

Per Brant's request, please advise if it is more appropriate to have the 
requested master for Northern Border Partners, L.P. with RMT or ENA. 
According to the corporate database, two (2) of the three general partners 
(being Northern Plains Natural Gas Company and Pan Border Gas Company), are 
directly or indirectly owned by Enron Corp.

Let me know your thoughts.  

Cordially,
Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3806A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
E:mail:  Susan.Bailey@enron.com
----- Forwarded by Susan Bailey/HOU/ECT on 02/20/2001 05:01 PM -----

	Brant Reves
	02/20/2001 04:42 PM
		 
		 To: Samantha Boyd/NA/Enron@Enron, Stephanie Panus/NA/Enron@Enron, Susan 
Bailey/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT
		 cc: Fred Lagrasta/HOU/ECT@ECT
		 Subject: Worksheet - Northern Border Partners

Fred has asked that we prepare an ISDA between ENA and Northern Border 
Partners, L.P., which is also a wholly owned Enron subsidiary.  Should we 
prepare an RMA or regular ISDA?  I have provided a worksheet that contains 
Enron's ownership structure and little else.  Let me know if I should provide 
another worksheet with more detail.

thanks
brant