Michael:  Attached is FYI.  Also, I am going to pay you a visit shortly to 
discuss the confirm.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 05/23/2000 11:01 AM -----

	Deepak Sitlani
	05/23/2000 10:52 AM
		 
		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Michael Moulton/HOU/ECT@ECT, Edmund Cooper/LON/ECT@ECT, Michael 
Khajeh-Noori/LON/ECT@ECT
		 Subject: SITA

Sara

I refer to our recent conversation relating to the progress of ISDA 
negotiations with the above counterparty.

I have just spoken to Carine Lavergne at SITA.  She informs me that SITA does 
not feel adequately equipped or informed to progress the negotiations 
internally and therefore intends to appoint external counsel (I urged her to 
do this as soon as possible).  Despite this intended appointment, she assured 
me that SITA wishes to enter into the ISDA as soon as possible and is keen to 
keep negotiations to a minimum.

Either I or Michael Khajeh-Noori will keep you updated as to the progress.

For your information, I also attach a status report with respect to the 
counterparties with whom Michael and I are currently negotiating.



Let me know if you need anything else.

Regards
Deepak