SENT ON BEHALF OF JANET MOORE


Per my voice mail.


----- Forwarded by Linda J Simmons/HOU/ECT on 05/25/2001 01:37 PM -----

	pbradley@lawsonlundell.com
	05/24/2001 06:12 PM
		 
		 To: Janet.H.Moore@enron.com
		 cc: 
		 Subject: RE: Draft Credit Annex


Janet, sorry I was unable to return your call today, but I was tied up most
of the day in meetings, one of which was with Powerex.  Though it dealt with
other matters I did have a chance to briefly discuss this matter with
Powerex and I am advised that the issue of the credit annex may be or become
academic.  The original $340,000,000 has been reduced to $240,000,000 and is
to be further reduced as a result of pricing changes.  In addition, Enron is
apparently providing a new or increased letter of credit, which will be
sufficient to cover the reduced liability.  As a result it is expected that
the necessity for the cash deposit will disappear next week, perhaps as
early as Tuesday.  If this proves to be the case, the credit annex will not
be required, thereby making life easier for both of us.  If the foregoing
result does not occur as early in the week as contemplated or if it becomes
necessary for your cash management purposes, Powerex has no objection to
signing a letter extending the interim letter agreement for, say, another 2
weeks (if it becomes apparent that the cash deposit will still be required
after that time we will have to revisit the drafting of the credit annex).

-----Original Message-----
From: Janet.H.Moore@enron.com [mailto:Janet.H.Moore@enron.com]
Sent: May 23, 2001 9:40 AM
To: pbradley@lawsonlundell.com
Subject: Draft Credit Annex


I look forward to receiving your comments.   As you know, we are anxious to
finalize this.   Please feel free to contact me at 713-345-7400.
Janet
----- Forwarded by Janet H Moore/HOU/ECT on 05/23/2001 11:38 AM -----


                    Janet H Moore

                                         To:     gcraig@lawsonlundell.com

                    04/05/2001           cc:     William S
Bradford/Enron@EnronXGate, Elizabeth Sager/HOU/ECT@ECT
                    11:02 AM             Subject:     Draft Credit Annex








Gordon:

As discussed earlier this week, I am sending you by email our proposed
Credit Annex between EPMI and PowerEx.  Please call me with any comments at
713-345-7400 or Elizabeth Sager at 713-853-6349.

Janet Moore

(See attached file: BC PowerEx 1bCl.doc)
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