I understand there is a little confusion regarding what products we can trade 
under the "Master Master"  for the referenced Counterparty.  It's not 
surprising, it's a confusing master!  This is currently the only agreement we 
have in place that contains terms for trading both physical and financial 
transactions in one agreement.

There is a Master Trading Agreement dated February 22, 1996 in place between 
ECT and  AIG Trading Corporation, now known as Sempra Energy Trading Corp. 
(Global Contract Reference No. 96000160).  This agreement provides for 
financial Swap, Option and Swaption transactions (excluding weather), and 
further provides for physical natural gas transactions only.  It does not 
provide for any other physical products.

Call me if you have any questions...