Another "unusual" thought (subject to usual MG concerns):  Could we move the 
NYMEX trades out of ENA's name and have the MG entity "own" the trades for 
itself as a clearing member thereby allowing MG to post 50% LCs on its own 
trades?  MG would not be acting as our clearing broker but for their own 
account.   Of course, we would have to verify that this would work and 
consider regulatory oversight issues.  

Mary


Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com