This looks ok to me.



	Melba Lozano
	12/06/2000 04:46 PM
		 
		 To: Mark Taylor/HOU/ECT@ECT
		 cc: 
		 Subject: REVISED - EOL description change


---------------------- Forwarded by Melba Lozano/HOU/ECT on 12/06/2000 04:46 
PM ---------------------------
   


From:  Melba Lozano                                                           
  12/06/2000 04:45 PM	
	
	
	                           
	

To: Sara Shackleton/HOU/ECT@ECT, Mark Taylor/HOU/ECT@E
cc: Kevin Meredith/Corp/Enron@ENRON, Steve Jacobellis/NA/Enron@Enron, Robert 
B Cass/HOU/ECT@ECT 
Subject: REVISED - EOL description change


Please approve the following change to the product description.  If you have 
any questions please let me know.  Steve needs this approved as soon as 
possible.  I need to make sure this language works for both one day deals and 
term deals.


Thanks,

Melba
58986

 Bolded for your ease of reference:

From:

A currency Transaction with Risk Management & Trading Corp. ("RMT") under 
which either (A) for the case in which Counterparty submits an offer to buy 
from RMT, Counterparty shall pay a Fixed Amount and shall receive the 
Floating  Amount, or (B) for the case in which Counterparty submits an offer 
to sell to RMT, Counterparty shall receive the Fixed  Amount and shall pay 
the Floating  Amount. Each calendar month during the term of the Transaction 
will be a Determination Period; provided however, that in the event the term 
of the Transaction is less than one calendar month, the Determination Period 
shall be the term of the Transaction. The Notional Amount per Determination 
Period shall equal the volume submitted by the Counterparty via the website 
divided by the number of Determination Periods during the term of the 
Transaction. The Fixed  Amount payable per Determination Period shall equal 
the product of  the Notional Amount per Determination Period multiplied by 
the price submitted by the Counterparty via the website. The Floating Amount 
payable per Determination Period shall equal the product of the Notional 
Amount per Determination Period multiplied by the Index. The Payment Date 
shall be the Valuation Date. 

The term of the Transaction shall be from the Effective Date of 01 Nov 2000 
to the Termination Date of 31 Mar 2001.

The Index for each Determination Period shall be the USD/CAD rate equal to 
the rate set forth on Rueters page BOFC under the headings 'Bank of Canada'; 
'Canadian Dollar' Exchange rates';'Noon', opposite the caption 'USD' as of 
12:00 p.m. noon, Toronto time, on the Valuation Date. The Valuation Date for 
each Determination Period shall be the last Business Day of such 
Determination Period.(DELETED)
The price is quoted in Canadian Dollars per unit of volume, which will be the 
Contractual Currency.
The unit of measure against which the price is quoted shall be US Dollars, 
and each unit of volume shown represents one million US Dollars ($1,000,000).

To:

A currency Transaction with Risk Management & Trading Corp. ("RMT") under 
which either (A) for the case in which Counterparty submits an offer to buy 
from RMT, Counterparty shall pay a Fixed Amount and shall receive the 
Floating  Amount, or (B) for the case in which Counterparty submits an offer 
to sell to RMT, Counterparty shall receive the Fixed  Amount and shall pay 
the Floating  Amount. Each calendar month during the term of the Transaction 
will be a Determination Period; provided however, that in the event the term 
of the Transaction is less than one calendar month, the Determination Period 
shall be the term of the Transaction. The Notional Amount per Determination 
Period shall equal the volume submitted by the Counterparty via the website 
divided by the number of Determination Periods during the term of the 
Transaction. The Fixed  Amount payable per Determination Period shall equal 
the product of  the Notional Amount per Determination Period multiplied by 
the price submitted by the Counterparty via the website. The Floating Amount 
payable per Determination Period shall equal the product of the Notional 
Amount per Determination Period multiplied by the Index. The Payment Date 
shall be the Valuation Date. The Valuation Date for each Determination Period 
shall be the first Business Day of such Determination Period.(Added)

The term of the Transaction shall be from the Effective Date of 01 Nov 2000 
to the Termination Date of 31 Mar 2001.

The Index for each Determination Period shall be the USD/CAD rate equal to 
the rate set forth on Rueters page BOFC under the headings 'Bank of Canada'; 
'Canadian Dollar' Exchange rates';'Noon', opposite the caption 'USD' as of 
12:00 p.m. noon, Toronto time, on the Valuation Date. 
The price is quoted in Canadian Dollars per unit of volume, which will be the 
Contractual Currency.
The unit of measure against which the price is quoted shall be US Dollars, 
and each unit of volume shown represents one million US Dollars ($1,000,000).


Thank you,

Melba
58986