We have a verbal okay from El Paso to go to the insurance wrappers and get structure/pricing.  The insitituions will then pitch this back to us both (El Paso and Enron) for a decision.  Once the decision is made, the process should be fairly swift.

As a back up plan, Joe asked the institutions to have the insurers look at a wrap without fixing the confidentiality/guarantee and using an Enron to fill any potential holes.  We'll then be able to balance timing vs proceeds vs legal risk.

Chuck
 -----Original Message-----
From: 	Kitchen, Louise  
Sent:	Tuesday, September 04, 2001 1:03 PM
To:	Ward, Charles
Subject:	RE: Generation Investments Meeting extreme tardiness

Don't we still need the approval of El Paso?

 -----Original Message-----
From: 	Ward, Charles  
Sent:	Tuesday, September 04, 2001 1:02 PM
To:	Kitchen, Louise
Subject:	RE: Generation Investments Meeting extreme tardiness

Trying to get to the insurance wrappers now.

 -----Original Message-----
From: 	Kitchen, Louise  
Sent:	Tuesday, September 04, 2001 12:18 PM
To:	Ward, Charles
Cc:	Duran, W. David; Deffner, Joseph
Subject:	RE: Generation Investments Meeting extreme tardiness

No worries - we really really need East Coast Power this quarter

 -----Original Message-----
From: 	Ward, Charles  
Sent:	Tuesday, September 04, 2001 11:20 AM
To:	Kitchen, Louise
Cc:	Duran, W. David; Deffner, Joseph
Subject:	Generation Investments Meeting extreme tardiness

I have been working with Lehman and BofA this morning in an attempt to get a letter by close of business today so as to be in front of the insurance wrappers this week.

Cornhusker on track.  Ultimate (or perhaps penultimate) meeting on transaction docs this afternoon.

Chuck