IN: Cindy, The attendees from EEOS to the review with Stan, on Friday, Oct. 5th from 3:00 - 5:00p.m, are: Brian Stanley, Keith Dodson, Blake Walker, and myself. The meeting is to be held at EB5029. Erin x67916

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OUT: 2002 Budget Review - EEOS

IN: Andy: In the spirit of "full disclosure", I thought I would let you know what ENA has agreed to on the ISDA side with various Merrill entities. ENA has ISDA's with Merrill Lynch International Bank (8/25/95), Merrill Lynch Capital Services Inc. (12/2/92) and Merrill Lynch International (8/25/95). There is no arbitration provision in any of these agreements; there is merely silence as to jurisdiction (ENA began negotiating arbitration around 1997). All of these agreements contain our standard limitation of liability language (in boldface) and all permit some type of assignment to an affiliate (in general, without negative tax impact or with sufficient credit support). All of the agreements provide for setoff (including affiliates of non-defaulting parties) and all contain confidentiality provisions. I would therefore propose the following changes to Annex I: change the margin deadline time to 10:00 a.m. (NY time) delete Par 9(b) - and you can send your additional no custody required language delete the arbitration provision in its entirety I hope that you can resond to the remaining issues tomorrow morning so that we can finalize docs by the afternoon. Thanks for your assistance. Sara

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OUT: Master Repurchase Agreement with Enron North America Corp.

IN: Eric, You are out of balance for the 30th. I assumed this was another cut deal, but I don't know who to enter a deal with you in EnPower. This has resulted in approx. -$5k to your P&L today. If you could fix this upon your return, the money will come back in your P&L at the end of Dec. Thanks,

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OUT: Out of balance on 11/30

IN: I will be in London the week of January 15th. I understand from Beth that you and Frank will be in Spain on Monday night. Beth and I plan to have dinner that night. Will you be back in town later in the week? I have business plans for dinner on Tuesday and Thursday. Could you make dinner on Wednesday night (the 17th)? There is an Enron happy hour for Beth that I will stop by at 6:30 that night, but I expect to be free after that. I have a belated Christmas gift for you. Hope we can get together! --Sally

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OUT:
Coming to London