We have received the following executed Master Agreement:

NOTE:   This master appears to have been signed in 1996 and didn't make its 
way down to Houston until now.

Type of Contract: Master Agreement (ECT Canada Form)

Effective Date:  06/16/95

Executed Date:  06/24/96

Enron Entity:  Enron Capital and Trade Resources Canada Corp., now known as 
Enron Canada Corp.

Counterparty:  Originally, NOVAGAS CLEARINGHOUSE LIMITED PARTNERSHIP, now 
through name changes and merger, DYNEGY CANADA INC.

Transactions Covered: Energy price swaps or option transactions only (no pulp 
& paper, weather, interest rate & currency or FX)

GLOBAL CONTRACTS:  We need to get this master inputted immediately into the 
EnronOnline System so all of the confirmations for ENA and ECC will 
immediately roll up under this master.

CONFIRM DESK:  Please immediately start rolling up all the ENA and ECC trades 
under this master, whether online, offline, or brokered trades.