---------------------- Forwarded by Tana Jones/HOU/ECT on 10/12/99 05:45 PM 
---------------------------


Molly Mathes
10/12/99 05:34 PM
To: Bob Shults/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT
cc: Connie Sutton/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, William S 
Bradford/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, David Weekes/LON/ECT@ECT, Stacy 
E Dickson/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, 
Peggy E Hedstrom/CAL/ECT@ECT 
Subject: EOL Master Review


To All

As we near completion of the master review for required collateral provisions 
for counterparts to trade OnLine, please find attached a consolidated list of 
exceptions.  This list highlights those counterparts where EOL should utilize 
GTCs with collateral in lieu of executed masters.  Summary findings are as 
follows:

1) Gas - reject master and use GTC w/collateral for 20 clients

2) Power - Reject 2 counterparts from trading OnLine

3) Financial - No exceptions

4) Canada - TBD

5) London - No exceptions

Thanks to everyone who assisted with this important review of credit 
provisions.   Please feel free to forward this note as necessary or contact 
me for any questions.

Regards
Molly
646-6363