Sara--

I just left you a voice mail about the European GTCs as compared to the North 
American documents. Attached please find both versions of the documents 
(European documents are below attached e-mail) for collateral and 
non-collateral situations. If you could please take a look at the documents 
and determine whether changes need to be made or we can proceed with posting 
these documents for European trading in pulp and paper products, we would 
appreciate it. If you would prefer, I have a set of documents I've marked up 
for differences, if that would ease your task. Please call if you have any 
further questions. Thanks.

Stephanie Segura
x37430


---------------------- Forwarded by Stephanie Segura/HOU/ECT on 09/14/2000 
08:33 AM ---------------------------
   
	Enron North America Corp.
	
	From:  Jeff Harbert                           09/13/2000 11:34 AM
	

To: Stephanie Segura/HOU/ECT@ECT
cc: Brandon Wax/HOU/ECT@ECT 
Subject: London EOL Financial GTC's

Stephanie,
Below you will find some data and information about EOL London as well as the 
GTC's used by them.  Please just look these over for me and note any 
differences you might find beside the obvious Enron entity name difference.  
I'll be working with Debbie Nichols and Amita Gosalia in London as we move 
forward in getting products up on Clickpaper for our London traders.

Jeff.
---------------------- Forwarded by Jeff Harbert/HOU/ECT on 09/13/2000 11:31 
AM ---------------------------


Robert B Cass
09/12/2000 01:36 PM
To: Jeff Harbert/HOU/ECT@ECT
cc: Dale Neuner/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT 
Subject: London EOL Financial GTC's

Jeff -  Some of the info below may not necessarily be new, but .... it's free 


I have contacted Debbie Nicholls (Documentation Manager in the London office) 
to verify that the financial GTC's as attached below are the same GTC's that 
would be used for EOL traded Paper/Lumber etc. products in the London 
office.  Both of these attached GTC's are the same with the exception that 
the file for "GTC2" includes collateral arrangements for customers with 
credit issues.


Jeff, please note that these EOL GTC's are used for all of the London 
financial products (including paper etc.) under the following Enron entity:
 Enron Capital & Trade Resources International Corp. ("Enron")    
 acting by its agent Enron Europe Finance & Trading Limited

 (these GTC's are referred to as the "ECTRIC EEFT" GTC's). 

Due to some recent reorganizational changes in the London office, there is 
some "uncertainty" as to which group will manage the pulp/paper/lumber 
products.  For now, the documentation activity for the financial  
transactions does reside with Debbie.  

The documentation for the "physical" paper/lumber transactions is not done in 
London.  That documentation is done in the Houston office.   

The attached GTC's are governed by English Law.  According to Debbie, they 
cover all financial products.  However, I do know that the Legal Group 
created GTC's for financial EOL products which referenced other countries for 
"governing law" (e.g.:  I have one other GTC that reflects German Law).  
Earlier this year a decision was made to use only the English Law GTC's, but 
we may need to confirm that with Debbie and with the London Legal group 
there.  That decision may need to be revisited.