Tracy,

Please note the following addition to the EIM credit reserve:

Counterparty:   Paul Hartmann AG
Deal No:  QD5697.1
Deal Date:  December 1, 2000
Originator:  Tom Bruce-Jones
Amount:  $85,000

The reserve covers a five year pulp swap wherein ENA pays $582 and receives 
FOEX.

Please call if you have any questions.

Thanks,
Tanya