I'm thinking 3 and 4 are not as nice as 5 and 6, but that this would be OK, and preferable to moving to the North Tower and that we should be trying for a longer lease, with breaks we can exercise at our option. We should be in a good negotiating position.

Thought?

Dave
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


-----Original Message-----
From: Mark.Bridges@ubsw.com <Mark.Bridges@ubsw.com>
To: Forster, David <David.Forster@ENRON.com>; louise@enron.com <louise@enron.com>; Pat.ODonnell@ubsw.com <Pat.ODonnell@ubsw.com>
CC: Beth.Barrett@ubsw.com <Beth.Barrett@ubsw.com>; bdugan@ubspw.com <bdugan@ubspw.com>
Sent: Mon Jan 28 08:56:04 2002
Subject: Real estate issues re: UBSW Energy, LLC in Houston


Hello Pat, Louise, Dave

The UBSW real estate department is reviewing the current/future lease 
terms for UBSW Energy LLC, in Houston.  According to Brian Dugan, our 
lead real estate guy on the bank side, the building owner has offered 
a nine month lease to stay in the South Tower on the 5th and 6th 
floors.  After the nine months we will be offered the option to sign 
up for an additional 18 months but we could be moved down to floors 3 
and 4.  Is this a significant issue?  I understand that the 3rd and 
4th floor foot prints are similar to 5/6.  

If UBSW Energy is willing to relocate to the North Tower, they can 
get a lease for 5-9 years but this tower may be less suitable.  What 
are the issues here?  

The integration real estate team plans to meet this afternoon with 
the Bank's outside legal firm we use for real estate issues.  We have 
a target date of this Friday to try to resolve all real estate issues 
in order to meet the DAY 0 legal integration date of 2/6/02.

Your thoughts please.

Mark 


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