FYI

 -----Original Message-----
From: 	Dyer, Laird  
Sent:	Monday, June 18, 2001 12:47 PM
To:	Calger, Christopher F.; McDonald, Michael; Taylor, Mark
Cc:	Rosman, Stewart; Jones, Karen E.
Subject:	Knauf Fiber Glass Transaction

Chris, Mike & Mark,

I want to pass along my thanks to Enron's legal and credit staff for their substantial contribution in finalizing the transaction with Knauf.  Carol St. Clair, Tracy Ngo and Ed Sacks did a tremendous job developing a structure that made sense for all parties and finalizing an ISDA agreement in 3 working days - with a German based company no less.   Ed and Tracy quickly developed Credit terms and provided valuable input into the transaction structure.  Carol worked tirelessly developing and negotiating the ISDA with Knauf.  Additionally, she sought out counsel within Enron familiar with German law allowing us to ascertain the appropriate authority levels within Knauf to execute the ISDA.  It was the effort of these individuals that allowed this deal to happen.

I have extended my thanks and appreciation to them, but wanted to make you were aware of their contribution.

We booked a 3 year, fixed price swap in N.  California originating just under $1 MM.

Thanks,

Laird