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Brant Per our discussions, here is what the Oneok folks want to do. 1. We currently have 2 Masters - one with KN Marketing LP (now known as Oneok Energy Marketing & Trading Company, LP) and one with Oneok Gas Marketing Company. Pursuant to the Guaranty that you just received, both Masters are currently guaranteed by Oneok Inc. In addition, both Masters are currently guaranteed by Enron Corp. under a $15,000,000 Guaranty for Onoek Gas and a $10, 000,000 Guaranty for KN. 2. The Oneok folks want Oneok Gas Marketing to assign all trades and its Master to KN Marketing LP and to terminate the KN Marketing LP Master. When all is said and done, there will be one Master with KN Marketing LP and all trading activity will be with this entity. As I mentioned to you, the Master that will remain in place has no Credit Support Annex. How much should the Enron Guaranty be for? Call me if you have any questions. Susan, Could you please prepare an assignment and Termination Agreement for this. Brant will let us know if any amendments need to be made to the Oneok Master. Carol

What is the subject of this email?
KN Marketing and Onoek