Currently Cargill and Enron have a 15MM collateral threshold.  If
possible, I think the cleanest way to run this biz would be to put a
box around the prime broker biz.  We would still operate under the
master isda but could set up a mutually agreeable credit support annex
for this biz.  We would still keep the 20,000,000 line referenced in
Schedule B of the POA agreement.  The line in the POA is a seperate and
distinct measure from the daily collateral.  The 20 mill reflects gross
exposure.  Let me know if you think this is reasonable and workable.
We too, are open to suggestion as the Global and Enron relationships
are very important and a high priority to us.

Thanks
Joe

-----Original Message-----
From: Caroline.Abramo@enron.com [mailto:Caroline.Abramo@enron.com]
Sent: Friday, March 02, 2001 7:26 AM
To: lardy, joe /xtwn
Cc: dlm@globaladvisors.co.uk; Wendi.LeBrocq@enron.com;
Sara.Shackleton@enron.com
Subject: POA/ Cargill line...


Joe-  a few things regading the POA/ Cargill line..

I am going to find out how much line we currently have available... you
probably already have this.  We should allocate a piece to Global which
would solve the problem of other Cargill people using the line, putting
us
over the limit, without me knowing...

We could change the language of the POA to this... we will not go over
Global's piece of the Cargill line...I think this would solve our main
concern...

Please let me know... we are eager to keep trading with Global and
yourselves...

Regards,
Caroline