Here's the confirm
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 01/12/2000 
01:56 PM ---------------------------
   
	
	
	From:  Larry Joe Hunter                           01/12/2000 08:40 AM
	

To: Sara Shackleton/HOU/ECT@ECT
cc:  
Subject: CMS - Draft

Sara,

Enclosed is the Draft for CMS.  I used the Floating Price from the Term Sheet 
sent by Julian.  Let me know if we should include some of the language 
previously used for this index (below).  



Thanks,
Joe




The average of the daily MONOMIC Prices at the Ezeiza Market Node Center for 
each day during the Calculation Period. 

&MONOMIC Price8 means the sum of (A) the average hourly price, quoted in 
Argentine Pesos, for each day as published electronically in the &Documento 
de Transacciones Econ?micas8 (DTE) under the annex set forth in the 
&Generadores8 file labeled &A1.7  Precios Del Mercado en $/MWH ) Mercado8 as 
published by the &Compaia Administradora del Mercado Mayorista El,ctrico 
Sociedad An?nima8 (&CAMMESA8) and (B), as applicable, either (i) 7.50 
Argentine Pesos for those days that are Argentine Business Days or (ii) zero 
for those days that are not Argentine Business Days.

The parties agree that the Floating Amounts payable under this Transaction 
shall be made in US Dollars, and the rate of exchange of Argentine Pesos to 
US Dollars shall be of one (1) Argentine Peso per US Dollar as set forth 
under Law 23,928, as amended, while there is free convertibility of the 
Argentine Peso and the rate of exchange therein set forth is of one (1) 
Argentine Peso per US Dollar. Otherwise, the rate of exchange between 
Argentine Pesos and US Dollars shall be calculated using the exchange rate, 
sell, for transfers abroad established by Banco Naci?n Argentina at the 
closing of the Business Day prior to that on which payment is effected. 
Argentine Peso means the lawful currency of the Republic of Argentina.