IN: Serena, Attached is the new scheduling sheet to point to the new databases for the ESTATE. The current Excel models will work until the final seperation between Enron and UBSW (Next Thursday). I do not know who is responsible for the Estate scheduling, but fowarding it to you for now. More than likely, the sheet I am sending you will not work since you do not have access to the database. If you have the final answer to who will be doing the Scheduling the Estate, please send me and CC an Email to Sonny Seaton requesting access to SQDV001d Scheduling database. Thanks,

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OUT: Estate Sch Worksheet

IN: Mark, you may recall my memo to you in April, 1999 which indicated that for netting purposes, the conditions included: 1. The transaction must be governed by a market standard master agreement or occur on a French regulated market 2. One of the parties must be (a) an "investment firm" within the meaning of the law of 2nd of July, 1996, (b) an instituion or firm benefitting from the provisions of article 25 of the Law or (c) a non-resident entity having a "comparable status" The term "investment firm" embodies financial type institutions which recieve and transmit order for financial instruments for third parties. There are 12 categories of article 25 firms (including Bank of France, insurance companies, broker types, etc.) .For example, one murky designation includes "persons who supply an investment service which is ancillary to their professional activity, provided the rules governing such activity do not prohibt the carrying on of investment services". Slaughter and May has advised that they could assist us in determining whether our French counterparty fit this category and it definitely needs to be discussed with the counterparty (and extract a rep from them as well). There are other categories as well. I have a copy of the law if you would like to review. The non-resident entity having "comparable status" is the category WE were trying for fit into without much success. Tana tells me that I have given you misinformation. Perhaps the law has changed and Justin has a recent update. ENA has a Soc Gen master, and we have recently sent a Deemed ISDA to a French corporate (one shot deal only).

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OUT: Derivatives trading in France

IN: New US Gas Products Available on Dynegydirect Please open the attached document to view a list of products that have been added to the Dynegydirect catalog within the last business day. For a comprehensive list of products added within the last thirty (30) calendar days, please click the "NEW PRODUCTS" link on the Dynegydirect homepage. (See attached file: Dynegydirect New Products - US Natural Gas.pdf) For questions regarding new products please contact e-Care at: Dynegydirect e-Care Dynegy Inc. 1000 Louisiana, Suite 5800 Houston, Texas 77002

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OUT: New US Gas Products Available on Dynegydirect

IN: I received a message from your brother Mark Shillings. He mentioned that he would be working with you in managing some of your personal accounts and wanted to communicate with me about such. Do I have your authority to discuss your banking business and accounts with him ? Also is there anything in particular you and he are looking to do that we may be able to help with ? CONFIDENTIALITY NOTICE: ************************************************************************ The information contained in this ELECTRONIC MAIL transmission is confidential. It may also be privileged work product or proprietary information. This information is intended for the exclusive use of the addressee(s). If you are not the intended recipient, you are hereby notified that any use, disclosure, dissemination, distribution [other than to the addressee(s)], copying or taking of any action because of this information is strictly prohibited. ************************************************************************

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OUT:
Mark skillings