Gentlemen,

I think we also need to be certain that we have a decent amount of discretion 
in whether we close, otherwise we have to consider the DASH process at this 
time.

Kay


   
	
	
	From:  Ben F Jacoby @ ECT                           02/16/2001 01:12 AM
	

Sent by: Ben Jacoby@ECT
To: Fred Mitro/HOU/ECT@ECT
cc: Scott Healy/SF/ECT@ECT, Rusty Stevens/Corp/Enron@ENRON, Carlos 
Sole/NA/Enron@Enron, Kay Mann/Corp/Enron@Enron 

Subject: Re: PSEG - Exclusivity Letter & Comments  

From a commercial perspective, I don't have a problem leaving out the 
exercise price during the 30 day option period, so long as our obligation to 
sell is contingent upon the negotiation of a purchase agreement and the 
agreement on purchase price. $300k seems fair for a 30 day exclusivity.

Regards,

Ben