SUBJECT TO LEGAL AND CREDIT APPROVAL (as to a particular transaction), I have 
asked Dale Neuner on the ECT confirmation desk, to please forward to you a 
"suggested format" for a pulp and paper confirmation.  Dale is an invaluable 
resource for these deals.  Not knowing anything further, I am uncertain as to 
whether this transaction will be documented on ECT's "omnibus format" or an 
"ISDA format", so Dale will probably send the omnibus format.  Tanya Rohauer 
is the credit guru.  I will update our review of Brazilian counterparties to 
determine whether we have any legal issues.  I will be in Sao Paulo tomorrow 
afternoon.  Sara


From: "David S Reinfeld/ENRON_DEVELOPMENT" AT ENRON_DEVELOPMENT@CCMAIL on 
08/16/99 01:10 PM
To: Sara Shackleton@ECT
cc: Robert H George AT ENRON_DEVELOPMENT@CCMAIL 
Subject: Swap term sheet




Sara:

We are working with the Pulp and Paper group in Houston on a deal with a 
Brazilian Pulp company to offer a swap to them -paying them fixed prices for 
Pulp and receiving index . I am in the process of preparing a draft letter 
and term sheet.  Do you have a standard draft term sheet that I could use for 
this transaction?

Thank you,
David