Hi, Gordon:

We have received the draft ISDA Master Agreement back from Nemak, S.A. which they have executed.  It appears to be in order, so I am in the process of preparing it for execution by us.  The effective date on the agreement is July 30, 2001.  We can confirm transactions with them under this Master Agreement.  Once ENA has executed the document, I will send the general e-mail to everyone as usual.

Let me know if you have any questions.

Thanks!

Marie
x33907