Attached is a draft term sheet for the equity investment in Houston Street.  
As we discussed, this deal varies from the True Quote deal in that Houston 
Street has already closed several deals with investors which may dictate to 
some extent the deal that we are able to get.  Many of the terms and 
conditions of our equity investment will depend upon the results of our due 
diligence investigation, and some may depend upon the terms and conditions of 
the Posting Agreement.  

Please let me know if you have any comments or questions regarding the 
attached.

  

Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3817
Houston Texas 77002
Phone:  (713) 853-1575
Fax: (713) 646-3490