Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
----- Forwarded by Carol St Clair/HOU/ECT on 05/22/2000 01:18 PM -----

	MWilson2@milbank.com
	05/22/2000 12:53 PM
		 
		 To: sdwyer@enron.com, mabboudy@enron.com, aedgley@enron.com, 
mevans@enron.com, plord@enron.com, baiken@enron.com, bglisan@enron.com, 
mike.jakubik@enron.com, jbadillo@enron.com, jginty@enron.com, 
donette.dewar@enron.com, alvaro.camarero@enron.com, sschard@enron.com, 
dscott@dlj.com, rcabes@dlj.com, scott.sefton@enron.com, 
carol.st.clair@enron.com, dhemsey@dlj.com, jball@dlj.com, pwoodbur@dlj.com, 
rpiskadl@dlj.com, nora.dobin@enron.com, bherman@dlj.com, 
melissa.p.allen@arthurandersen.com, cclementdavies@velaw.com, 
jeldredge@velaw.com, smacgibbon@velaw.com, tchandler@velaw.com, 
acurry@velaw.com, schimberg@velaw.com, mkidwell@velaw.com, awright@velaw.com, 
eosterberg@velaw.com, bryony.juffkins-u@db.com, craig.orchant@db.com, 
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deirdre.breheny@db.com, damon@rlf.com, gunter@rlf.com, 
georgia.mitchell@citicorp.com, teresa.stclair@cliffordchance.com
		 cc: TSiebens@milbank.com, PFletcher@milbank.com, TDavis@milbank.com, 
BKayle@milbank.com, LKeene@milbank.com, FKneip@milbank.com, 
FPuleo@milbank.com, ERayner@milbank.com, AWalker@milbank.com, 
JEveling@milbank.com, DLamb@milbank.com, SRivers@milbank.com
		 Subject: Project Margaux - Indenture, Agency Agreement and Enron Note




Attached are drafts of the Senior Notes Indenture, the Agency Agreement and 
the Enron Note.? The Indenture and the Senior Notes Indenture are based on 
Enron's standard euro documentation, with the addition of security and 
guarantor provisions.? You should already have seen the draft Conditions of 
the Notes in the latest draft of the Offering Memorandum distributed by V&E 
yesterday.

Please note that these drafts have not been reviewed by the initial 
purchasers and are subject to their comments. 

We look forward to receiving your comments at your earliest convenience. 

Regards, 

Tom Siebens/Melanie Wilson 
Milbank, Tweed, Hadley & McCloy 
Dashwood House 
69 Old Broad Street 
London? EC2M 1QS 
ph.:? 020 7448 /30343022 
fax:? 020 7448 3029 
email: tsiebens/ mwilson2@milbank.com 

 <<Margaux Euro-Indenture.DOC>>  <<Margaux Agency Agreement.doc>>  <<Enron 
Note.doc>> 

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 - Margaux Euro-Indenture.DOC
 - Margaux Agency Agreement.doc
 - Enron Note.doc