Marlene:

The language is fine.  We will retain this as a template for Transactions 
have an Optional Early Termination Date.  Please send the revised confirm(s) 
to our desk.

Sara



	"Lue, Marlene P." <Marlene.Lue@bmo.com>
	12/20/2000 09:20 AM
		 
		 To: "'Sara.Shackleton@enron.com'" <Sara.Shackleton@enron.com>
		 cc: 
		 Subject: Right to Termination provision in Confirmation


As discussed, attached is the revised provision.

Marlene

-----Original Message-----
From: Sara.Shackleton [mailto:Sara.Shackleton@enron.com]
Sent: Wednesday, December 20, 2000 9:48 AM
To: Lue, Marlene P.
Subject: Re: Right to Termination provision in Confirmation



Marlene:

I'll call Lesley with my comments.

What is the second attachment called "Cancellable" relating to Captiva III
Finance CBO?
Sara




                    "Lue, Marlene

                    P."                  To:
"'sara.shackleton@enron.com'" <sara.shackleton@enron.com>
                    <Marlene.Lue@        cc:

                    bmo.com>             Subject:     Right to Termination
provision in Confirmation


                    12/19/2000

                    04:10 PM









As per your discussions with Lesley Charkow, attached is our proposed
provision with the changes as discussed with Lesley.

We would appreciate your prompt response as a few Confirmations are pending
our agreement to this provision.

Best regards,

Marlene Lue
Bank of Montreal
Analyst, Treasury Credit
Ph:  (416) 956-2144
Fax:  (416) 956-2318
e-mail:  marlene.lue@bmo.com

 <<MKT-Out-CONFIRM'92.doc>>

(See attached file: MKT-Out-CONFIRM'92.doc)



 - MKT-Out-CONFIRM'92.doc