I am working on creating a Master ISDA Agreement with HQ Energy Services 
(U.S.) Inc., to be guaranteed by Hydro Quebec.  In my work on this file, 
Hydro provided us with a form previously executed on the physical side and 
they also propose to reissue a guaranty to cover both physical and financial 
matters in an aggregate amount.  Question, our Quebec counsel advised that 
the guaranty, if executed in Quebec, would have to also be in French pursuant 
to the statutue regarding government papers etc.  I noticed that the prior 
guaranty seems only to be in English with no French, and also note that it 
states that it is governed by NY law.  Do you think if it is governed by NY 
law that the actual papering in French requirement does not then apply ot 
Hydro Quebec as a government entity?  Interesting.  Please let me hear from 
both of you.  Thanks.  Mary  


Enron North America Corp.
Mary Cook
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com