Audrea:

Per my voice mail of date, please feel free to contact me aboutthe 2/1/01 gas 
floor.  As I mentioned in my voice mail, the ISDA Commodity Derivatives 
Definitions provide for the Floating Amount language for caps and floors (see 
Section 6.2).  "Exercise" language is not necessary as this is addressed in 
the referenced definitions.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com