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Russ and Richard: The referenced agreement was sent to you for execution on December 7, 2000. We have never received an executed original of the agreement or the guaranty from Lehman Bros. Holdings Inc. We have called on several occasions to locate these instruments. Please let us know if there is a problem.

Subject Line:
ISDA Master Agreement between Enron Corp. ("Enron") and Lehman Bros. Finance S.A. ("Lehman")