FYI
---------------------- Forwarded by Kay Mann/Corp/Enron on 10/02/2000 03:36 
PM ---------------------------
   
	
	
	From:  Gregg Penman                           10/02/2000 03:25 PM
	

To: Karen L Barbour/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron, Sarah 
Wesner/Corp/Enron@Enron
cc: Mary Lynne Ruffer/HOU/ECT@ECT 

Subject: enovate revolver DASH

Attached is a markup of the previous DASH to reflect the latest proposed 
funding of enovate.  Daily, ENA and Peoples will each fund 50% of the cash 
requirements of enovate through their respective intercompany loans.  Rather 
than reduce the revolver to $25 million, I have left it alone at $50 million 
to accomodate expected growth and potential transactions.  In this regard, I 
have also attached a spreadsheet which shows the potential cash needs of 
enovate based on some very loose assumptions.  Let me know if you think the 
edits are sufficient. 

I think that Sarah Wesner is on vacation, so if we need input from Global 
Finance let me know and I will route it through other channels.  The initial 
capital contribution of $100,000 is scheduled for this Friday, October 6.  
Loan documentation and a services agreement is being drafted by legal.  The 
first payment out of enovate is scheduled for October 25, so that is our 
target date for completion.

Any questions or comments, please let me know.

Thanks,

Gregg