Per Susan Bailey's memo, this Contract has been setup (Global No. 96057752) 
and has been updated in Profile Manager for all active ENA and ECC Financial 
products.

Thank you,
Anthony
Global Contracts
3-7911





Susan Bailey
03/13/2001 01:43 PM
To: Bob Bowen/HOU/ECT@ECT, Laurel Adams/HOU/ECT@ECT, Andrea R 
Guillen/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT, Gordon 
Heaney/Corp/Enron@ENRON, Janie Aguayo/HOU/ECT@ECT, Diane 
Anderson/NA/Enron@Enron, Melissa Ann Murphy/HOU/ECT@ECT, Scott 
Tackett/Corp/Enron@Enron, Celeste Cisneros/NA/Enron@Enron, Sharen 
Cason/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Tiffany 
Williams/NA/Enron@Enron, Dianne Seib/CAL/ECT@ECT, Bianca 
Ornelas/NA/Enron@Enron, Kimberly Allen/ENRON@enronxgate, Julie 
Brewer/NA/Enron@Enron, Jean Bell/HOU/ECT@ECT, Jason Fischer/NA/Enron@Enron, 
Jorge A Garcia/NA/Enron@Enron, Kimberly Hundl/Corp/Enron@Enron, Stephanie 
Piwetz/HOU/ECT@ECT, Melissa Rodriguez/HOU/ECT@ECT, Melinda 
Whalen/CAL/ECT@ECT, William  S Bradford/Enron@EnronXGate, Debbie R 
Brackett/HOU/ECT@ECT, Tanya Rohauer/Enron@EnronXGate, Brant 
Reves/Enron@EnronXGate, Russell Diamond/Enron@EnronXGate, Lesli 
Campbell/Enron@EnronXGate, Wendi LeBrocq/Enron@EnronXGate, Edward 
Sacks/Enron@EnronXGate, Veronica Espinoza/Enron@EnronXGate, Veronica 
Gonzalez/Enron@EnronXGate, Paul Radous/Enron@EnronXGate, Jason R 
Williams/Enron@EnronXGate, Wendy Conwell/NA/Enron@Enron, Darren 
Vanek/Enron@EnronXGate, Rudwell Johnson/Enron@EnronXGate, Ken 
Curry/Enron@EnronXGate, Aparna Rajaram/Enron@EnronXGate, Tom 
Moran/Enron@EnronXGate, Nidia Mendoza/Enron@EnronXGate, Sara 
Shackleton/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, 
Tana Jones/HOU/ECT@ECT, Robert Bruce/NA/Enron@Enron, Brent 
Hendry/NA/Enron@Enron, Mary Cook/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, 
Stephanie Panus/NA/Enron@Enron, Cheryl Nelson/NA/Enron@Enron, Francisco Pinto 
Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Frank 
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Angela Davis/NA/Enron@Enron, Anne 
C Koehler/HOU/ECT@ECT, Marilyn Colbert/HOU/ECT@ECT, Diane 
Ellstrom/Enron@EnronXGate, Lynn E Shivers/LON/ECT@ECT, Bill D 
Hare/HOU/ECT@ect, Leslie Reeves/HOU/ECT@ECT, Jason Moore/HOU/ECT@ECT, Dianne 
Seib/CAL/ECT@ECT, Samuel Schott/HOU/ECT@ECT, Anthony Campos/HOU/ECT@ECT, 
Karen Lambert/HOU/ECT@ECT, Frank L Davis/HOU/ECT@ECT, Carrie 
Southard/LON/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Sheri 
Thomas/HOU/ECT@ECT, Amber Ebow/HOU/ECT@ECT, Melissa Ann Murphy/HOU/ECT@ECT, 
Linda S Bryan/HOU/ECT@ECT, Stacey Richardson/HOU/ECT@ECT, Lisa 
Lees/HOU/ECT@ECT, Georgi Landau/NA/Enron@ENRON, Cheryl 
Johnson/Corp/Enron@Enron, Stephanie Sever/HOU/ECT@ECT
cc:  
Subject: Olympic Steel, Inc.


We have received an executed Master Agreement:

Type of Contract:  ISDA Master Agreement (Multicurrency-Cross Border)

Effective Date:   February 15, 2001

Enron Entity:   Enron North America Corp.

Counterparty:   Olympic Steel, Inc.

Transactions Covered:  Approved for all products with the exception of:   
Foreign Exchange 
          
Confirming Entity:  Enron North America Corp.

Governing Law:   New York 

Copies will be distributed.

Cordially,
Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3806A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
E:mail:  Susan.Bailey@enron.com