Ms. Marquez:

Attached are an original and blacklined copy of your form of guaranty, which reflect our comments.  Please do not hesitate to contact either Francisco Pinto-Leite, Senior Counsel (713/345-7942; francisco.pinto.leite@enron.com) or me with any questions or comments.  Thank you for your assistance.

Marie Heard
Senior Legal Specialist
Enron North America Corp.
Phone:  (713) 853-3907
Fax:  (713) 646-3490
marie.heard@enron.com