Beth Ann:  Here's UBS's  "redraft" which also requires review.  Please call 
me in a few hours if I haven't contacted you.  Thanks.  Sara  
----- Forwarded by Sara Shackleton/HOU/ECT on 12/18/2000 02:33 PM -----

	Jeff Nogid
	12/18/2000 01:58 PM
		 
		 To: Shackleton Sara, Clint Walden/NA/Enron@ENRON
		 cc: 
		 Subject: Equity Forward Contract


Sara-

UBS is short on legal staff, Clint asked me to send you their draft to me 
marked up.  Call me if you have any questions.

Clint-

Please review the UBS draft for any accounting concerns

Jeff Nogid
Enron Global Finance
713-853-4782
----- Forwarded by Jeff Nogid/HOU/ECT on 12/18/00 01:51 PM -----

	Jeff Nogid
	12/18/00 11:47 AM
		 
		 To: Clint Freeland/Corp/Enron
		 cc: 
		 Subject: Equity Forward Contract




Jeff Nogid
Enron Global Finance
713-853-4782
----- Forwarded by Jeff Nogid/HOU/ECT on 12/18/00 11:47 AM -----

	Christine.Lee@ubsw.com
	12/15/00 04:56 PM
		 
		 To: jeff.nogid@enron.com
		 cc: 
		 Subject: Equity Forward Contract


     Jeff,

     Attached is a draft of the equity forward contract which we believe is
     compliant with EITF Issue 00-19.  Please have your auditors review it
     to determine if this contract should get equity treatment under 00-19.

     The document is blacklined against your outstanding equity forward
     contract so that you can easily identify the changes.

     I'll touch base with you on Monday.

     Regards,
     Christine

 - 12_150~1.DOC

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