Stephanie:

Let's prepare and submit for execution.  Let me know if you have any 
questions.  Thanks.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 02/15/2001 04:57 PM -----

	Jason R Williams@ENRON
	02/15/2001 04:27 PM
		 
		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: 
		 Subject: Merrill Lynch International Bank Ltd.


Sara -

Per our earlier conversation, could you please prepare a revised guaranty for 
Merrill Lynch?  There are two significant changes to the guaranty currently 
in place:

1)  Beneficiary of the new guaranty should be Merrill Lynch International 
Bank, Ltd.   The current guaranty is to Merrill Lynch International Bank.

2)  The guaranty amount should be increased from $30 million to $150 million.


Please send revised guaranty to:

  Todd Gibson, Vice President
  Merrill Lynch & Co., Inc.
  4 World Financial Center, 16th Floor
  New York, NY 10080


Thanks for all your help and please let me know if you have any questions.


Jay