IN: This is scheduled to close on Friday (don't know what time). It's Gareth's deal. Enron Corp. is swap CP with a trust. Don't know who is signing for Enron Corp. Please C me to discuss and raise logistical issues. Thanx. SS

Generate a subject line.

OUT: Project Ghost

IN: Steve, I think you may have heard a request last week re working closely with Dynegy. I think we just need to treat them like other counterparties. Basically, West Power would like to enter into arms length physical power and service transactions with Dynegy. My understanding is that Dynegy is a separate, unrelated party until the merger closes. Therefore, we can not "collaborate" with them commercially and our transaction policy is dictated by customary credit, legal and risk management procedures. Is this correct? If so, how do you feel about the following? An Enron customer wants to buy power and related services for one year. The customer requires Enron to post collateral. Enron does not want to post collateral but suggests that Enron can provide the product/services to Dynegy and Dynegy can then sell to the customer. The Enron marketer calls the Dynegy marketer and proposes a "back to back" transaction. Dynegy adds a small service fee, the Enron/Dynegy contract is executed and a Dynegy/Customer contract is executed. This type of deal happens frequently - it is usually driven by the third party having better credit, transmission access or a complementary service. We could do this with anyone, but the obvious choice is Dynegy - customers think it makes sense, and ultimately if we merge we have retained a customer. Do you think this works? Regards,

Generate a subject line.

OUT: Potential Dynegy Transactions

IN: Hi Tracy: I didn't take today off after all. Too much to do. Here are the bullets for this week. Call me after you get settled on Monday and we will discuss the 4th Qtr forecast. Hope you have a good weekend! Jan

Generate a subject line.

OUT: Bullets for Week of November 5th

IN: Paul, I have made revisions as discussed to the Master Agreement. However we need to include on "Exhibit A" info regarding "Invoices, Payments", etc. You may either send me this information or correct the document at your convenience. Please check the final revisions, and if in agreement please print two originals sign and forward both to my attention. Upon final execution, I will send an original for your records. Thank you for your attention to the foregoing. Regards,

Generate a subject line.

OUT:
Agreement