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Marc, Here's a draft reply to your latest e-mail, which I would send to all those copied on your note to me. What do you think? Marc, We have sought, and paid for, advice from Indian counsel concerning commodity derivative transactions with Indian counterparites. We have had that advice updated and confirmed in connection with this proposed transaction. The result of that advice is that we will require an opinion from DPC's outside counsel that the proposed transaction is enforceable against DPC before the transaction can proceed. While I have no legal objection to sending a form of L/C that would be acceptable to us, it doesn't make much sense to go through the exercise if DPC will not be providing the necessary opinions. Mark

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