Mary Ellen,

Attached for your review is a revised copy of the ISDA Master Agreement 
between Enron North America Corp. and Louis Dreyfus Plastics LLC.  Some of 
the changes you requested have not been incorporated as some of our 
requirements have changed since the agreement between ENA and Louis Dreyfus 
Corporation was executed.  We are currently reviewing the form of guaranty 
forwarded by Louis Dreyfus Corporation and will have comments for you 
shortly.  Please contact either myself or Sara Shackleton to discuss.

We look forward to hearing from you.

Stephanie Panus
Sr. Legal Specialist
Enron North America Corp.
1400 Smith Street, Suite 3806
Houston, Texas  77002
ph:  713.345.3249
fax:  713.646.3490