Cheryl:

Enron Credit Inc. , a  Delaware corporation, has been created for U.S. debt 
trading currently handled by ENA.   As a result, ENA will need to transfer 
its brokerage debt positions to Enron Credit Inc. accounts with those 
brokers.  The brokers include our favorites:

Bear Stearns Companies
Morgan Stanley & Co. Inc.
Goldman Sachs & Co. 

ENA will need to assign its positions by the end of February, 2001.
Richard Sage (London office) will need to see the "sample package" (unanimous 
consent, authorized trader list).  Will you please see that an email is sent 
to Richard with this information?

We should begin the documentation now.  Let me know if you have any questions.



Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com