Sara,
Attached below is the latest draft of Amendment No. 2 to the Participation 
Agreement in connection with Osprey II.  I will have our clerk deliver copies 
of  Amendment No. 1 to the Participation Agreement dated July 10, 2000, the 
Participation Agreement dated Sept. 16, 1999,  and the Osprey Indenture dated 
Sept. 24, 1999 this evening.

Please let me know if you need anything else.

Best regards,
Gina Karathanos
---------------------- Forwarded by Gina Karathanos/Corp/Enron on 09/12/2000 
06:14 PM ---------------------------


ELim@milbank.com on 09/09/2000 02:35:52 AM
To: barry.schnapper@enron.com, dan.boyle@enron.com, 
trevor.randolph@enron.com, brian.steinbrueck@enron.com, 
julia.h.chin@enron.com, gina.karathanos@enron.com, annmarie.tiller@enron.com, 
Brent.Vasconcellos@enron.com, clint.walden@enron.com, ryan.siurek@enron.com, 
lnath@dlj.com, dscott@dlj.com, dcapolon@dlj.com, lmallett@dlj.com, 
mbdavis@dlj.com, dhemsey@dlj.com, cwebb@dlj.com, mprotz@dlj.com, 
mcho@dlj.com, paul.f.cambridge@db.com, mike.jakubik@db.com, 
craig.orchant@db.com, george.tyson@db.com, ross.newman@db.com, 
maia.babbs@db.com, ute.muenstermann@db.com, peter.zabel@db.com, 
joseph.kopec@db.com, mspradling@velaw.com, rastin@velaw.com, 
eosterberg@velaw.com, tchandler@velaw.com, crankin@velaw.com, 
pwarman@velaw.com, silversteina@sewkis.com, sbaratta@sewkis.com, 
aroberts@wilmingtontrust.com, jlawler@wilmingtontrust.com, 
gmitchell@ustrust.com, lyoung@ustrust.com, mazie@rlf.com, 
tom.mazza@deweyballantine.com, joan.wheatley@deweyballantine.com, 
hershel.wein@deweyballantine.com, robert.frastai@deweyballantine.com
cc: TDavis@milbank.com, BKayle@milbank.com, JGallup@milbank.com, 
AWalker@milbank.com, SRenas@milbank.com, KRiester@milbank.com 

Subject: Osprey II - Participation Agreement




Attached, please find a draft of Amendment No. 2 to the Participation 
Agreement for the Osprey II transaction.? Please be advised that this draft 
is simultaneously being distributed to our clients and therefore, remains 
subject to their review and comments.

Please do not hesitate to contact me if you have any questions or comments. 

Best regards, 
Evelyn Lim 

 <<Amendment No.2 to Osprey PA.doc>> 

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 - Amendment No.2 to Osprey PA.doc