This is the letter we have been exchanging voice mails about.  I think your 
quick take would be helpful in our analysis of this concept for our business 
people.  MDS
---------------------- Forwarded by Mike D Smith/HOU/EES on 04/26/2001 03:16 
PM ---------------------------

	Enron Energy Services
	
	From:  Deborah Culver                           04/26/2001 01:50 PM
	Phone No: 713-853-6463
	



To: Mike D Smith/HOU/EES@EES
cc: James E Keller/HOU/EES@EES 
Subject: AEC Letter Agreement

FYI  At Vicki's suggestion I sent the AMEX letter for NY law review.  
(Klauberg is out of pocket so Maas is getting someone in NY to take a look.)
---------------------- Forwarded by Deborah Culver/HOU/EES on 04/26/2001 
01:49 PM ---------------------------

	Enron Energy Services
	
	From:  Deborah Culver                           04/26/2001 01:11 PM
	Phone No: 713-853-6463
	



To: jmaas@llgm.com
cc: Bill Rapp/HOU/EES@EES 
Subject: AEC Letter Agreement

John, attached below is the letter I referenced in my call.  Changes 
requested by AEC are blacklined and AEC has asked for New York law.