Subject: "Power Financial Trading Limitations".

Body: I went through our Lotus Notes Master Swap Agreement Database and determined that the following masters do not permit power: The Bakersfield Californian newprint only Bayerische Hypo-und Vereinsbank AG no commodity transactions CGAS, Inc. natural gas only (are currently shut down for trading because authority certificate only covered one trade) Coastal Gas Marketing Company natural gas transactions only Credit Lyonnais New York Branch (AAA Program) no commodity transactions E.W. Scripps Company (The) 48.8 gram newsprint swaps only Lehman Brothers Special Financing, Inc. no commodity transactions. Weather is ok Mellon Bank NA FX and currency option transactions only Midland Bank plc FX and currency option transactions only National Westminster Bank FX and currency option transactions only Palladium Insurance Limited weather only Phibro, Inc. energy price swaps based on fixed and floating prices of natural gas, crude oil or oil products and/or call and put options based on the prices of natural gas, crude oil or oil products Praxair, Inc. natural gas only PXRE Corporation weather only St. Paul Re (Bermuda) Ltd. weather only Tempest Reinsurance Company Limited weather only Westdeutsche Landesbank Gironzentrale FX and currency option transactions only

Subject: "Nicor Guaranty Amendment".

Body: Veronica, Attached is the Guaranty Amendment for Nicor Energy, L.L.C., which adds financial transactions to the existing guaranty. Please copy Jim Hunt at Nicor (jhunt@nicor.com) on you message. Once received from Nicor, the Amendment needs to be countersigned by ENA. We will also need a copy for our files when fully executed. Please call me if you have any questions. Stephanie

Subject: "EGM briefing document".

Body: John, FYI, here is the presentation we discussed today. This is internal only but it can act as a guide if you want to know what we are doing or our approach. This is a first draft and I'll send you an updated one when it is finished. m

Subject: "Weekly Update of Southern Cone Master Agreements".

Body:
I will begin circulating a list of ECT/ S. Cone Counterparty master swap agreements. Other than yourself, who else should receive these updates? In particular, I am thinking of commercials in BA and/or Sao Paulo. Would you encourage more frequent distribution? Sara