Dear Vince

Thank you for your e-mail. I will certainly use the information I sent you
for the brochure.

Regarding the workshop, it is now a very pressing matter of time as all the
other parts of the convention programme have been sent off to the
typesetters and printers. The workshop agenda I sent you was based on what
Mark Williams will be presenting on, so I very much require your half of the
workshop. I agree that you should add more quantification aspects; can you
please provide me with some similar bullet points for the workshop as those
I sent you.

Just one final issue, should the energy risk workshop title focus
specifically on establishing a strong credit risk function, or just
establishing a strong risk function? Mark's bullet's indicate a credit risk
function, so if you wish to broaden this, please make you bullets reflect
this.

I will call you later today to discuss this further, though please
understand that this is a rather pressing matter.

I eagerly await your response in due course.

Kind regards

Andreas

----- Original Message -----
From: <Vince.J.Kaminski@enron.com>
To: <andreas.simou@garp.com>
Cc: <Vince.J.Kaminski@enron.com>
Sent: Monday, October 08, 2001 8:29 PM
Subject: RE: Urgent: GARP 2002 Convention


Andreas,

The bullet points  for Measuring Energy Risk are fine.

For the workshop, I can add more quantitative perspective.
For example, I can focus on estimating probabilities of default
and on measuring future potential credit exposure due to price
fluctuations over time.

I shall call Mark Williams to discuss additional points with him.
I understand we shall offer the workshop together,

Vince Kaminski

P.S. I am a managing Director, Enron Wholesale Services


    -----Original Message-----
   From:   "Andreas Simou" <andreas.simou@garp.com>@ENRON

[mailto:IMCEANOTES-+22Andreas+20Simou+22+20+3Candreas+2Esimou+40garp+2Ecom+3
E+40ENRON@ENRON.com]


   Sent:   Thursday, October 04, 2001 10:50 AM
   To:     Kaminski, Vince J; vkamins@enron.com
   Subject:  Urgent: GARP 2002 Convention


   Dear Vince

   Further to my voicemail message, I am writing  urgently concerning the
   GARP 2002 Convention. Below is the session title that I  have for you,
   as well as the bullet points and your professional details. Please  add
   or amend anything that you feel is necessary:


    - tackling price volatility, adapting  VAR, scenario
   modelling and regulatory requirements
   The challenge of modelling price dynamics in the energy  markets
   -          seasonality
   -          fat  tails
   -          jumps
   -          mean (or  floor) reversion
   Price volatility in the energy markets: definition and  estimation
   Adapting VaR for the energy markets
   Historical vs. Monte Carlo simulation vs. scenario analysis ? the pros
   and cons of different approaches
   Regulatory uncertainty and VaR
   Vince Kaminski, Managing Director, Research, Enron  N.A.

   Also, I have attached a copy of the energy risk  workshop. I is at
   present very credit risk focussed. Can you provide me with  bullets to
   take it more to workshop on general risk management within energy
   companies. For example, looking at other issues such as:
   VaR for energy companies
   Price volatility
   Defining responsibilities
   Understanding the information processes
   Establishing communication of risk results

   I look forward to your response as soon as possible as I am already late
   with the programme going to press. Please do contact me if you have any
   questions.

   Kind regards

   Andreas

   ______________________
   Andreas  Simou
   Conference Director, GARP
   Tel: +44 (0)20 7626 9301
   Fax: +44 (0)20  7626 9900www.garp.com << File: http://www.garp.com >>


    - Energyriskworkshop.doc << File: Energyriskworkshop.doc >>



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