Deb,

Thank you for your e-mail regarding the guaranty.  This form of guaranty 
appears to be fine however,  Enron North America Corp. needs to be 
incorporated as well as  references to physical gas transactions.  

Please let me know if you have any additional questions.

Regards,
Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490