each period from ,and including, one Valuation Date to, but excluding the 
next following applicable Valuation Date during the Term of the Transaction, 
except that (a) the initial Calculation Period will commence on, and include, 
January 17, 2001 and (b) the final Calculation Period will end on, but 
exclude, the Termination Date.


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