Brent and Sara: Here is where we ended up yesterday after discussing the LC situation with Debbie: 1. Debbie and her group will initially review each LC that has been posted to Enron to determine if it is "transaction specific" or if it covers all trades with the counterparty. If it is transaction specific and the counterparty has performed, then no further action is required. If the counterparty has not performed then Debbie will work with us to see if a draw can be made. 2. If the LC covers all trades, Debbie will send copies of the LC and the transactions docs to me and we will determine what rights, if any, we have to draw. Each month, we will focus on those LC's that are due to expire that month. Call me if you have any questions. We will distribute the work to the trading lawyers as the need arises.
Answer: Collateral and LC Issues
Here is an email: RBowers@nyiso.com writes to the NYISO_TECH_EXCHANGE Discussion List: The settlements curently posted for September 28-Version 2 & 29-Version 1, 2001 are not accurate due to problems encountered with some data files for those dates. As a result, some customer balancing energy is incorrect and residual adjustments for those dates are artificially inflated. The NYISO will be re-running those billing dates as soon as it is feasible to do so. The NYISO apologizes for any inconvenience caused by this problem. Regards,
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A: September 28-V2 & 29-V1, 2001 settlement postings
Q: Tracy: Did you and Yair finalize the "transfer" language? It seems that too many confirm questions are popping up and different forms are being drafted. We ;should be done with the ISDA.
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A: Allegheny Energy Supply
IN: Can you guys make the following entries, they are all in the format of what Texas needs to be to be flat(+ needs to be a revenue entry): Tsf fin liquidations to Transport Book: 0002 ($31,098) 0003 ($39,525) Increase transport Expense on Texas (Increase Revenue on Transport Book): 0003 ($112,862) Bammell Drip line entries for 0003 GL need to be reversed per Jim Little conversation last month(net to $0): 9911 $618 9912 ($135,977) 0001 ($113,410) 0003 $248,769 3rd Party Transport on Co. 012 that should be on Texas's OA: 0003 ($72,859) Please shout with any questions. Thanks for your help. PL

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OUT: Manual entries needed for 0005 GL
IN: This is an email
This is a message from Rusty Tidwell. mgs I hope everyone had a Merry Christmas. My son, Marcus, and I would like to help out anyone who may need some assistance in taking down their Christmas lights/decorations or straightening up afterwards. I realize we have several elderly residents along with people being "under the weather." We would be glad to help, just give us call. Happy New Years To All,

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OUT: Need assistanece wil taking lights down?
Laurel: I am requesting an Enron Corp. guaranty (capped at US$20 million) for ECT Investments, Inc. I think we can sign the outstanding confirmation. Sara
Answer:
DB credit swap (Loews as the Reference Credit)