My comments in RED for what they are worth...



**********************************************
Mark D. Guinney, CFA
Consultant
Watson Wyatt Investment Consulting
345 California Street, Ste. 1400
San Francisco, CA  94104
(415) 733-4487 ph.
(415) 733-4190 fax


____________________Reply Separator____________________
Subject:    Re: Case 3
Author: Jeff.Dasovich@enron.com
Date:       02/20/2001 4:40 PM

Carolyn, you're a star.  Thanks for the input , Anil.  For what it's worth,
I'll take a final looksee this evening and tie up any loose ends (though I
doubt that there will be any).  I'll send around to all for one last peek
in the morning, and I'll bring a copy to turn in.  Sound reasonable?  Let
me know.

Best,
Jeff
 - case 3 jeffs write up.doc