fyi

 -----Original Message-----
From: 	Lewis, James C.  
Sent:	Monday, January 28, 2002 8:28 AM
To:	Perkins, Mary; Schnapper, Barry; Mckean, George; Glover, Sheila; Erwin, Jill; DeSpain, Tim; McCullough, Travis
Subject:	Further Transfer to DIP Commitment Account

Since Dec 3, cash has been received by ECT Investments, Inc. from the liquidation of the equity trading book; it was returned to ECT as the related brokerage accounts were closed. ECT Investments, Inc. is not a filed entity. Based on our interpretation of the current DIP Loan Agreement, an equal amount should be transferred to the DIP Commitment Account beacuse the receipt of the cash was a Collateralization Event.

The amount is $27,009,246.

Does anyone think that we should not transfer that amount from Debtor funds into the Commitment Account? Otherwise, I would like Jill Erwin to prepare a wire to go out Tuesday. The payment would need approval from the Daily Cash Committee.

Sheila, can you confirm my math?
Travis, can you confirm that ECT Investments, Inc. is a wholly-owned first tier subsidiary of ENA?

More money may need to go into the Commitment Account based on cash receipts to date. More research needs to be done on Enron Credit Inc and ECT Finance Europe.

Jim