It appears that we have now opened up our first Japan based financial product 
on EnronOnline, and I need to get some direction from you as to what 
restrictions, if any, we have on (1) counterparties located/incorporated in 
Japan trading Japan based financial products, and (2) counterparties not 
located in Japan trading Japan based financial products.

Previously, the only Japanese financial product we had was weather, but it 
wasn't being sold by a Japan based Enron company, so my understanding was 
that I didn't have any particular restrictions under Japanese law for 
counterparties located in or outside Japan in trading this product.  Now that 
the product is being sold by a Japan based company I am wondering was 
restrictions I might have to keep in mind when doing my daily online 
approvals.

The only are Japan based direction I am getting is from the Broadband legal 
team (Robbi Rossi) which have told me Japanese counterparties can only trade 
US bandwidth segments.

P.S. we do have a Japanese counterparty on the 9/26/00 list.