---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 06/16/2000 
10:23 AM ---------------------------


Pinnamaneni Krishnarao
06/08/2000 02:15 PM
To: Ronnie Chahal/HOU/EES@EES, Osman Sezgen/HOU/EES@EES
cc: Vince J Kaminski/HOU/ECT@ECT, Zimin Lu/HOU/ECT@ECT, Paulo 
Issler/HOU/ECT@ECT 
Subject: Spreadlag Option valuation