Guys,

We are looking at getting Hong Kong weather up on EOL by mid next week for 
testing in preparation for our intended commencement of trading on Nov. 13. 
To that end you will shortly receive an email asking you for approval of the 
new product type. I ask if you could treat this as a priority as we have set 
an aggressive time frame to get these products up & running. Please contact 
me ASAP if you have any questions. My direct line is 61 2 9229 2307.

Many thanks

Justin
PCG - Sydney
---------------------- Forwarded by Justin Timothy/ENRON_DEVELOPMENT on 
01/11/2000 06:02 PM ---------------------------


David Minns
31/10/2000 06:15 PM
To: Mark Taylor@ECT, Alan Aronowitz@ECT, Mark Taylor@ECT, Justin Boyd@ECT
cc: Paul Quilkey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT (bcc: Justin 
Timothy/ENRON_DEVELOPMENT)

Subject: Hong Kong weather derivatives-update

Further to discussions I have had which most of you on listing Hong Kong 
weather on EOL . Here is an update for information only - no action is 
required. But please contact me if you have any questions.

 The go live date is 13 November when Paul Quilkey (Enron Australia MD) will 
be in Hong Kong to collect an award. 

The Enron counterparty will Enron Australia Finance Pty. Ltd. and the GTCs 
will be subject to Australian law. We are currently conducting due diligence 
on legal and tax issues.  As Enron will not have a presence in Hong Kong the 
due diligence will be somewhat less than the full process. The focus is on 
the enforcability of a judgment against HK resident counterparties and also 
any restrictions on promoting the product in HK.  It also appears from the 
attached report that there has clearance to trade with Hong Kong 
counterparties (activated countries page).

We are also finalising the GTCs which are just awaiting details of the data 
source.