---------------------- Forwarded by Mark Elliott/LON/ECT on 26/04/2000 18:05 
---------------------------


Mark Elliott
30/03/2000 13:55
To: Alan Aronowitz/HOU/ECT@ECT, Robbi Rossi/Enron Communications@Enron 
Communications, Cynthia Harkness/Enron Communications@Enron Communications
cc: Kristina Mordaunt/Enron Communications@Enron Communications 

Subject: First Draft - Bandwidth Trading Legal Due Diligence Matrix

Further to our conversation of yesterday, I now attach a "first cut" at the 
matrix for your review.  Please note that I have not, at this stage, even 
attempted to ascribe responsibility to any individuals for exploring the 
various issues as I assume that, among others, that will be an issue which we 
shall have to discuss.

This matrix does not contain the issues arising out of the European Merger 
Control regulations which may be applicable to the formation of the BTO - 
however a separate short matrix on that issue will follow shortly.

Kind regards

Mark