Michelle:  This is a stab at something to include in the newsletter.  Will 
you or someone on your team rewrite as necessary?  I am in the London office 
this week, so e:mail is probably the best way to get in touch with me.  
Thanks.  --Sally Beck 


Operational Risk Management was the topic of an information session held last 
week for all managers, directors, senior directors and vice presidents in ENW 
supporting trading operations for EA, EIM and EGM in Houston, Portland and 
Calgary.  Operations professionals who manage risk book reporting and 
anaylsis, confirmations, physical product scheduling and cash management 
reaffirmed their roles in effectively accessing, managing and mitigating 
operational risk.  This focus on operational risk management  will ensure the 
quality of EWS' earnings and support a platform for continuing growth across 
all commodities in 2001.