Karolina and Rod:

This swap has ended up on my desk!  Imagine that.

This transaction ought to be booked between RMT and ETOL.  The existing ISDA 
Master Agreement from December 31, 1998 is between Enron Capital & Trade 
Resources Corp. and ETOL.  We need to create an RMT/ETOL ISDA Master 
Agreement for this 3-year rate swap.

Is ETOL prohibited from entering into swaps with other parties, such as RMT 
(under the terms of the lending documents)?

Please bring me up to date.  Thanks.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com