Your summary is correct based on information to date (in this regard the 
agreement between ENA and EEFT still requires amendment in respect of RMT and 
I undertake to get this done). 

However, please note that there have been some last minute changes in the 
Japanese tax advice, received I understand only as of last night. Susan Musch 
will be following up on these changes at a meeting today with Sheila Glover 
and Darren Delage, and has undertaken to keep you appraised of the position. 
The effect of the change would be to permit RMT to be the principal for the 
Japanese FX desk, with a Japanese entity acting as agent to arrange the 
transactions. 

Best regards
Janine




From: Sara Shackleton on 13/12/2000 13:52 CST
To: Janine Juggins/LON/ECT@ECT
cc: Jeff Blumenthal/HOU/ECT@ECT, Rhett Jackson/HOU/ECT@ECT, Melba 
Lozano/HOU/ECT@ECT 

Subject: FX Product

Janine:

With respect to the attached (internal) FX product for EOL, I just wanted to 
verify with you that internal counterparties should transact on EOL with:

(1)  RMT  (as principal for Houston FX desk)

(2)  EEFT as agent for RMT (as principal for London FX desk).  In this 
regard, was the services agreement between ENA and EEFT ever extended to 
include RMT for internal trades? 

(3)  Enron Japan Corp. (as principal for Tokyo FX desk)

There appears to be some confusion since our meeting of November 3.  Thanks.  
Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 12/13/2000 11:22 AM -----

	Melba Lozano
	12/11/2000 05:59 PM
		 
		 To: Sara Shackleton/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT
		 cc: Robert B Cass/HOU/ECT@ECT, Steve Jacobellis/NA/Enron@Enron, Kevin 
Meredith/Corp/Enron@ENRON, Steve Jacobellis/NA/Enron@Enron
		 Subject: FX Product

Sara / Mark,

I need an approval as soon as possible from you for the FX Description 
attached.  Steve Jacobellis is requesting that this gets out on the web as 
soon as possible.  

Thank you,

Melba 
58986
---------------------- Forwarded by Melba Lozano/HOU/ECT on 12/11/2000 05:53 
PM ---------------------------
   


From:  Melba Lozano                                                           
  11/30/2000 06:41 PM	
	
	
	                           
	

To: Sara Shackleton/HOU/ECT@ECT, William Stuart/HOU/ECT@ECT
cc: Robert B Cass/HOU/ECT@ECT 
Subject: FX Product


Sara:  Please approve on the attached language for the FX Product.



William:  There is a gap between hour ending 3:00 and 4:00 .  Do you want to 
go ahead and set up Central time to trade until Hour Ending 4:00?  Please let 
me know.  



Thank you,

Melba