Jeff,

I have attached a presentation that outlines our current analysis concerning TOCOM and the other markets in Japan.  This presentation should be looked at as linked to the presentation concerning Nissho Iwai sent out last Wednesday.  I would suggest that you look at the other presentation first.  NIC helps provide us with the local market insight that would take real time for us to develop on our own.  I believe that the local trading markets are interesting and worth Enron moving forward with.  What you will see as you look at these presentations is in fact a call for an overall Asian strategy for EGM.  I think that this office and the outlines provided can form the seed and the way forward to accomplish this.

I look forward to going through the details of this presentation.

Joe


 

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