This master agreement is with a U.S. subsidiary of Hydro-Quebec (and contains 
a Hydro-Quebec guaranty).  You might want to point this out to some of your 
traders who might be interested in trading under it.

----- Forwarded by Tana Jones/HOU/ECT on 11/03/2000 05:14 PM -----

	Tana Jones
	11/03/2000 05:14 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, Derek 
Bailey/Corp/Enron@ENRON, Diane Anderson/NA/Enron@Enron, Kevin 
Meredith/Corp/Enron@ENRON, Scott Tackett/Corp/Enron@Enron, Celeste 
Cisneros/NA/Enron@Enron, Dianne Seib/CAL/ECT@ECT, Melissa Ann 
Murphy/HOU/ECT@ECT, Tiffany Williams/NA/Enron@Enron, Kim S 
Theriot/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Debbie R 
Brackett/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, 
Tracy Ngo/PDX/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Veronica 
Espinoza/Corp/Enron@ENRON, Paul Radous/Corp/Enron@ENRON, Wendi 
LeBrocq/Corp/Enron@Enron, Russell Diamond/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, 
Edward Sacks/Corp/Enron@Enron, Nidia Mendoza/HOU/ECT@ECT, Bradley 
Diebner/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron, Sara 
Shackleton/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, 
Susan Bailey/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Samantha 
Boyd/NA/Enron@Enron, Robert Bruce/NA/Enron@Enron, Stephanie 
Panus/NA/Enron@Enron, Mary Solmonson/HOU/ECT@ECT, Marilyn 
Colbert/HOU/ECT@ECT, Diane Ellstrom/HOU/ECT@ECT, Lynn E Shivers/HOU/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, Bernice Rodriguez/HOU/ECT@ECT, Mary G 
Gosnell/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, 
Frank L Davis/HOU/ECT@ECT, Carrie Southard/LON/ECT@ECT, Amber 
Ebow/HOU/ECT@ECT, Adnan Patel/Corp/Enron@ENRON, Melissa Ann 
Murphy/HOU/ECT@ECT, Stacey Richardson/HOU/ECT@ECT, Bridgette 
Anderson/Corp/Enron@ENRON, Lisa Lees/HOU/ECT@ECT
		 cc: Tom May/Corp/Enron@Enron
		 Subject: H.Q. Energy Services (U.S.) Inc.


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

Effective Date:   September 1, 2000

Enron Entity:   Enron North America Corp.

Counterparty:   H.Q. Energy Services (U.S.) Inc.

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

Governing Law:   New York

Special Provisions:  The Confirmation section prescribes using the form of 
confirmation contained in the 2000 ISDA Definitions or the 1993 ISDA      
Commodity Definitions.  The timing for dispute of confirmations has been 
amended from the standard 2 days to 3 days.

    Confirmation Desk:  note p.28 of the Schedule to the Master Agreement 
prescribes the rounding conventions.