Hi Sara.  Who set the credit terms for this one?  Let me guess ... me.  I 
actually would like a copy for our files over here.

It's raining.  Again.  I hear Houston is nice.



From: Sara Shackleton on 03/28/2001 10:08 CST
To: Rod Nelson/LON/ECT@ECT, Denis O'Connell/LON/ECT@ECT
cc: Susan Bailey/HOU/ECT@ECT 

Subject: First Union National Bank ("FUNB")

With respect to Enron Credit Ltd., please note that ENA has and executed 
master with FUNB.  Let Susan Bailey know if you need a copy of the agreement.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 03/28/2001 10:06 AM -----

	Susan Bailey
	03/28/2001 09:49 AM
		 
		 To: Bob Bowen/HOU/ECT@ECT, Laurel Adams/HOU/ECT@ECT, Andrea R 
Guillen/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT, Gordon 
Heaney/Corp/Enron@ENRON, Janie Aguayo/HOU/ECT@ECT, Diane 
Anderson/NA/Enron@Enron, Melissa Ann Murphy/HOU/ECT@ECT, Scott 
Tackett/Corp/Enron@Enron, Celeste Cisneros/NA/Enron@Enron, Sharen 
Cason/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Tiffany 
Williams/NA/Enron@Enron, Dianne Seib/CAL/ECT@ECT, Bianca 
Ornelas/NA/Enron@Enron, Kimberly Allen/ENRON@enronxgate, Julie 
Brewer/NA/Enron@Enron, Jean Bell/HOU/ECT@ECT, Jason Fischer/NA/Enron@Enron, 
Jorge A Garcia/NA/Enron@Enron, Kimberly Hundl/Corp/Enron@Enron, Stephanie 
Piwetz/HOU/ECT@ECT, Melissa Rodriguez/HOU/ECT@ECT, Melinda 
Whalen/CAL/ECT@ECT, William  S Bradford/Enron@EnronXGate, Debbie R 
Brackett/HOU/ECT@ECT, Tanya Rohauer/Enron@EnronXGate, Brant 
Reves/Enron@EnronXGate, Russell Diamond/Enron@EnronXGate, Lesli 
Campbell/Enron@EnronXGate, Wendi LeBrocq/Enron@EnronXGate, Edward 
Sacks/Enron@EnronXGate, Veronica Espinoza/Enron@EnronXGate, Veronica 
Gonzalez/Enron@EnronXGate, Paul Radous/Enron@EnronXGate, Jason R 
Williams/Enron@EnronXGate, Wendy Conwell/NA/Enron@Enron, Darren 
Vanek/Enron@EnronXGate, Rudwell Johnson/Enron@EnronXGate, Ken 
Curry/Enron@EnronXGate, Aparna Rajaram/Enron@EnronXGate, Tom 
Moran/Enron@EnronXGate, Nidia Mendoza/Enron@EnronXGate, Sara 
Shackleton/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, 
Tana Jones/HOU/ECT@ECT, Robert Bruce/NA/Enron@Enron, Brent 
Hendry/NA/Enron@Enron, Mary Cook/HOU/ECT@ECT, Stephanie Panus/NA/Enron@Enron, 
Cheryl Nelson/NA/Enron@Enron, Francisco Pinto 
Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Frank 
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Angela Davis/NA/Enron@Enron, Anne 
C Koehler/HOU/ECT@ECT, Marilyn Colbert/HOU/ECT@ECT, Diane 
Ellstrom/Enron@EnronXGate, Lynn E Shivers/LON/ECT@ECT, Bill D 
Hare/HOU/ECT@ect, Leslie Reeves/HOU/ECT@ECT, Jason Moore/HOU/ECT@ECT, Dianne 
Seib/CAL/ECT@ECT, Samuel Schott/HOU/ECT@ECT, Anthony Campos/HOU/ECT@ECT, 
Karen Lambert/HOU/ECT@ECT, Frank L Davis/HOU/ECT@ECT, Carrie 
Southard/LON/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Sheri 
Thomas/HOU/ECT@ECT, Amber Ebow/HOU/ECT@ECT, Melissa Ann Murphy/HOU/ECT@ECT, 
Linda S Bryan/HOU/ECT@ECT, Stacey Richardson/HOU/ECT@ECT, Lisa 
Lees/HOU/ECT@ECT, Georgi Landau/NA/Enron@ENRON, Cheryl 
Johnson/Corp/Enron@Enron, Stephanie Sever/HOU/ECT@ECT
		 cc: 
		 Subject: First Union National Bank

We have received an executed Master Agreement:

Type of Contract:  ISDA Master Agreement (Multicurrency-Cross Border)

Effective Date:   March 7, 2001

Enron Entity:   Enron North America Corp.

Counterparty:   First Union National Bank

Transactions Covered:  Approved for all products 
          
Confirming Entity:  Enron North America Corp.

Governing Law:   New York 

SPECIAL NOTE:  Counterparty has 10 Local Business Days to dispute or accept 
the terms of a Confirmation. 

Copies will be distributed.

Cordially,
Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3806A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
E:mail:  Susan.Bailey@enron.com