We have received an executed financial Master Agreement:

Type of Contract:  ISDA Master Agreement (Multicurrency-Cross Border)

Effective Date:   November 14, 2000

Enron Entity:   Enron Corp.

Counterparty:   Lehman Brothers Finance S.A.

Transactions Covered:  This Agreement is limited to only Equity derivative 
transactions

Confirming Entity:  Enron Corp.

Choice of Law:   New York

Copies will be distributed.

Stephanie Panus