Good Afternoon Sara,

I wanted to follow up with you regarding the creation and approval of ISDA 
Confirmations for the following equity trades that I understand Laurel had 
discussed with you previously.

1) Edison International- Swap with Enron Europe Ltd. (2 in total)
2) PG & E- Swap with Enron Europe Ltd. (3 in total)

Please advise.

Regards,

Jorge