I have reviewed the following documents from CSFBI:

(1) Cancellation letter for five (5) swaps (which were never confirmed)
(2) Equity Swap on 400,000 shares ENE
(3)  Two (2) Equity Forwards on 1,025,000 shares and 1,672,000 shares ENE, respectively

The forwards contain $40 price triggers which will be adjusted through either an amendment or put.  This will be documented after the swap and forwards are signed.

Please review the trade details for the swap and forwards, including share caps, floating amounts payable by ENE, spreads, etc.  You have an email version of the CSFBI documents.

The documents are in the format agreed to with CSFBI on October 2.

Let me know if you have any questions.  Sara  

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490