---------------------- Forwarded by Sheila Glover/HOU/ECT on 02/02/2001 10:48 
AM ---------------------------
From: Clement Abrams@ENRON on 01/07/2001 09:14 PM
To: Sheila Glover/HOU/ECT@ECT
cc:  
Subject: Re: Morgan Stanley Letter of Guarantee for Enron North America  

Sheila,

Following is the form of Enron Corp. letter of guarantee.  Please call me if 
you have any questions.

Clement





	Sheila Glover@ECT
	01/05/01 06:08 PM
		 
		 To: Clement Abrams/Corp/Enron@ENRON
		 cc: 
		 Subject: Morgan Stanley Letter of Guarantee for Enron North America

Clement,
Just a reminder to please forward to me a copy of Enron's Letter of Guarantee.
Thanks. Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 01/05/2001 06:03 
PM ---------------------------
   
	
	
	From:  Sheila Glover                           01/05/2001 01:16 PM
	

To: Clement Abrams/Corp/Enron@ENRON
cc:  
Subject: Morgan Stanley Letter of Guarantee for Enron North America

Clement,
As per my voice mail.
Thanks. Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 01/05/2001 01:10 
PM ---------------------------
   
	
	
	From:  Sheila Glover                           01/05/2001 08:31 AM
	

To: William S Bradford/HOU/ECT@ECT, Mary Perkins/HOU/ECT@ECT
cc: Jeff Kinneman/HOU/ECT@ECT, Tom Doukas/NA/Enron@ENRON 
Subject: Morgan Stanley Letter of Guarantee for Enron North America

Bill and Mary,
Who can I talk to to discuss gettting a letter of guarantee for the Credit 
Trading Portfolio at Morgan Stanley Prime Broker?  The Margin Requirement on 
the Credit Trading Portfolio from Morgan is 50 - 100% of Market Value, 
resulting in a margin requirement of $51 million for this portfolio.  This is 
very high compared the the 15% margin requirement on the Long/Short Equity 
securities. 

Jeff wants to see if a  Letter of Guarantee may be utilized to increase our 
leverage on the Credit Trading Portfolio in the Enron North America entity.

Please advise who I can follow-up with.  I would like to provide a copy of a 
form Letter of Guarantee if possible.

Thanks. Sheila
3-3210.