Sheila:

Just a few notes from the Agreement:

(1)	Par. 2(d) - DBAB will use its "reasonable judgment" to value securities or other assets posted as margin
(2)	Par. 2(e) - DBAB will use its then current rates of exchange for any currency conversions (probably not applicable to ENA)
(3)	Par. 3     - Have we agreed to commissions and brokerage charges?  These are to be agreed "from time to time"
(4)	Par. 5     - Position Limits:  ENA must promptly notify DBAB if ENA is required to file position reports.  Can you explain, please?
(5)	Par. 7(b) - Not sure why we're being asked to make this rep.  What is ENA's relationship to the Enron FCM these days?
(6)	Par. 9(a) - Trader changes binding on DBAB upon receipt of written confirmation
(7)	Par. 9(d) - verify binding nature of trades

Thanks.  Sara  

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490