Yesterday we entered into a financial power transaction with Alcoa Power 
Generating, Inc. (Janelle Scheuer-trader) for the month of December.  The 
trade/confirm is subject to the reciept of a guaranty from Alcoa, Inc., as 
well, they have requested a gty from Enron Corp.  The guaranty amount that 
Alcoa originally had in mind was $1,800,000; however, after a discussion with 
Richard Totten at Alcoa, we concluded that $5,000,000 would be more 
appropriate so that we can add on additional trades if need be.  Please 
forward a copy of our guaranty format (outgoing and incoming) to the 
attention of the following people:

 Tom Seligson (atty)   thomas.seligson@alcoa.com  
 Richard Totten (credit)   richard.totten@alcoa.com  412-553-3304
 Jim Nixon           james.nixon@alcoa.com  865-594-4756

Since this transaction has already closed, could you please add this to your 
list of high priorities.  FYI - I will likely pursue both ISDA and EEI agmts 
with the cp.

Thanks in advance for your immediate attention.

Ed Sacks