Mark,

I recently moved back to ENA as director of trading accounting which includes 
accounting for all of our futures activity.  We are getting a lot of 
inquiries as to how Enron can save money regarding this activity.  One area 
that was mentioned was Enron becoming a clearing member.  I was told this 
route had been pursued in the past and dropped.  Your name was provided as 
the Enron legal rep who worked this.  If possible, could you please provide 
me with the reasons this avenue was not considered a good fit for Enron.  I 
would like to have the correct facts to present when this comes up again in 
my discussions.

Thanks for the assisstance.
  

    Greg x35399