Sara

As requested, I chased SITA again this afternoon.  They have not yet 
appointed local counsel as the legal department is currently busy acquiring 
an Australian subsidiary.  

I will chase again next week.

Regards

Deepak
---------------------- Forwarded by Deepak Sitlani/LON/ECT on 30/05/2000 
14:42 ---------------------------


Deepak Sitlani
23/05/2000 16:52
To: Sara Shackleton/HOU/ECT@ECT
cc: Michael Moulton/HOU/ECT@ECT, Edmund Cooper/LON/ECT@ECT, Michael 
Khajeh-Noori/LON/ECT@ECT 

Subject: SITA

Sara

I refer to our recent conversation relating to the progress of ISDA 
negotiations with the above counterparty.

I have just spoken to Carine Lavergne at SITA.  She informs me that SITA does 
not feel adequately equipped or informed to progress the negotiations 
internally and therefore intends to appoint external counsel (I urged her to 
do this as soon as possible).  Despite this intended appointment, she assured 
me that SITA wishes to enter into the ISDA as soon as possible and is keen to 
keep negotiations to a minimum.

Either I or Michael Khajeh-Noori will keep you updated as to the progress.

For your information, I also attach a status report with respect to the 
counterparties with whom Michael and I are currently negotiating.



Let me know if you need anything else.

Regards
Deepak