Gerald,

This is fantastic.  Exactly what we wanted.  I'll have to change some of the 
wording in the Article 1:3 section to reflect what we are actually basing the 
benchmark on.  It isn't a simple, one day price, it is actually a multi-year 
swap price beginning on the start date of the agreement.  I'll make those 
changes and get it back to you.

Andrew




Gerald Nemec@ECT
02/27/2001 04:10 PM
To: Andrew Miles/NA/Enron@Enron
cc:  
Subject: StageCoach LOI

Andrew,  Attached is the form of LOI for your review.