---------------------- Forwarded by Mark Taylor/HOU/ECT on 12/03/99 05:58 PM 
---------------------------


"Bunkin, Steven" <steven.bunkin@gs.com> on 12/03/99 05:22:30 PM
To: Mark Taylor/HOU/ECT@ECT
cc: "Bronks, Richard" <richard.bronks@ny.email.gs.com>, "Griffith, Mark" 
<Mark.Griffith@ny.email.gs.com>, "Ruggles, Susane" 
<susane.ruggles@ny.email.gs.com>, "Tesoriero, John" 
<john.tesoriero@ny.email.gs.com> 
Subject: RE: EnronOnline Electronic Trading Agreement Amendment



Mark -- thanks very much for the attached draft agreement.  This is fine and
I'll have it signed by J. Aron and faxed to your attention.

I've researched the documentation that is in place between Aron and Enron.
While we do have a master swap agreement between J. Aron and Enron North
America (or its predecessor) I don't seem to show a master physical
agreement.  Accordingly, I believe the transactions would be subject to
Enron's GT&Cs.  I think we would want to modify these in certain respects
(for example, by making the right to call for collateral mutual).  I'm not
sure if we are going to be issuing paper confirmations in connection with
our online activities, but that would be one place to address it.  Best
regards, Steve


-----Original Message-----
From: Mark Taylor [mailto:mtaylo1@ect.enron.com]
Sent: Friday, December 03, 1999 11:56 AM
To: Bunkin, Steven
Subject: EnronOnline Electronic Trading Agreement Amendment




Here is the draft of the amendment letter.  Please let me know if it is
acceptable and I will have it executed.

(See attached file: J Aron.doc)