Melba,

The following changes need to be made to the attached GTC for this product:

1.   Section 1:  Delete subsection (iv) and revise subsection (iii) to read 
as follows:

(iii) unless it has notified the other party in writing to the contrary, it 
is a domestic corporation (as such term is defined in Section 7701 of the 
United States Internal Revenue Code of 1986, as amended);

2.   Section 2:  Before the paragraph beginning " Each payment will be 
made...", the following paragraph should be inserted:

All payments under this Transaction shall be made without any deduction or 
withholding for or on account of any Tax unless such deduction or withholding 
is required by any applicable law, as modified by the practice of any 
relevant governmental revenue authority, then in effect.  If a party is so 
required to deduct or withhold, then that party ("X") shall (a) promptly 
notify the other party ("Y") of such requirement, (b) pay to the relevant 
authorities the full amount required to be deducted or withheld (including 
the full amount required to be deducted or withheld from any additional 
amount paid by X or Y under this paragraph) promptly upon the earlier of 
determining that such deduction or withholding is required or receiving 
notice that such amount has been assessed against Y, (c) promptly forward to 
Y an official receipt (or a certified copy), or other documentation 
reasonably acceptable to Y, evidencing such payment to such authorities, and 
(d) if such Tax is an Indemnifiable Tax, pay to Y, in addition to the payment 
to which Y is otherwise entitled under this Transaction, such additional 
amount as is necessary to ensure that the net amount actually received by Y 
(free and clear of Indemnifiable Taxes, whether assessed against X or Y) will 
equal the full amount Y would have received had no such deduction or 
withholding been required.  However, X will not be required to pay any 
additional amount to Y to the extent that it would not be required to be paid 
but for (i) the failure or breach by Y of a representation or warranty set 
forth in Section 1 of these General Terms and Conditions or (ii) the failure 
of Y, upon reasonable demand by X, to provide any form, certificate or 
document that would allow X to make a payment to Y under this Transaction at 
a reduced rate of, or without any, withholding for or on account of any Tax.

3.   Section 9:  Add the following definition for Indemnifiable Tax:

"Indemnifiable Tax" means any Tax other than a Tax that would not be imposed 
in respect of a payment under this Transaction but for a present or former 
connection between the jurisdiction of the government or taxation authority 
imposing such Tax and the recipient of such payment or a person related to 
such recipient (including, without limitation, a connection arising from such 
recipient or related person being or having been a citizen or resident of 
such jurisdiction, or being or having been organized, present or engaged in a 
trade or business in such jurisdiction, or having or having had a permanent 
establishment or fixed place of business in such jurisdiction, but excluding 
a connection arising solely from such recipient or related person having 
executed, delivered, performed its obligations or received a payment under, 
or enforced, this Transaction).

4.   Section 9:  Add the following definition for Tax:

"Tax" means any present or future tax, levy, impost, duty, charge, assessment 
or fee of any nature (including interest, penalties and additions thereto) 
that is imposed by any government or other taxing authority in respect of any 
payment under this Transaction other than a stamp, registration, 
documentation or similar tax.

Please let me know if you have any questions or need any additional 
information.

Best regards,
Susan


 -----Original Message-----
From:  Lozano, Melba  
Sent: Monday, June 04, 2001 6:09 PM
To: Blumenthal, Jeff; Musch, Susan; Hagelmann, Bjorn; Moran, Tom
Cc: Hunter, Larry Joe; Lees, Lisa; Sever, Stephanie; Jones, Tana; Lambert, 
Karen; Lombardi, Kelly; Sweitzer, Tara; Kenne, Dawn C.; Moorer, Torrey; Cass, 
Robert B.; Meredith, Kevin; Walker, Chris; Gockerman, Matthew F.; Alatorre, 
Carlos
Subject: Tanker Freight Approvals
Importance: High


Your review and approval of the following product type in the EOL Datamanager 
is needed (for directions on approval , please see steps for approval at the 
bottom of this e-mail). If you have any questions please call me at ext. 
58986.   
******** DO NOT APPROVE PRODUCT TYPES BETWEEN THE HOURS OF 6AM - 
11AM***********

Trader:   Joe King 


 << File: ENA Financial GTC (credit).htm >>     << File: Tkr Freight Swap 
BITR 9 Jun01 WS.doc >>  

==============================================================================

STEPS FOR APPROVAL:

click the  START button 
select  PROGRAMS
select  TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
 PROCEED WITH USUAL LOGIN/PASSWORD 
click the Enron Online Production Cluster "START" button  
select EnronOnLine (this is the EOL Datamanager)
 PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Partially Approved"
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up