This is the content of an email: Paul: I think you are trying to avoid me! Hope all is well and you are just overworked and overwhelmed. I am now working with Moazzam Khoja in Houston who is part of the enroncredit.com group most of which (as I understand) is located in London. In connection with that group's activities, I have some questions and all fingers point to you. (1) Do you have credit derivative research that may be applicable for credit derivative transactions (including your online "bankruptcy swap") in the US? I am sure that you've already explored the "insurance" issue and I don't want to duplicate reasearch, if possible. (2) What forms have you devised? Are they online? Should I just grab a password? (3) Are the enroncredit.com traders in the UK required by the SFA to take an SFA exam (I'm guessing it's a broker or securities exam)? Is trading in credit derivatives regulated, or regulated differently than other types of derivatives? I am trying to determine whether Moazzam needs to take the Series 7 here in the US; our traders taking that exam must be dealing in "securites" for that exam to be necessary. (4) Where is enroncredit.com headed? I would very much appreciate your [PROMPT] reply. Sara

Subject: credit derivatives/SFA exam

This is the content of an email: Please see attached file on the Swordfish Prospect for use in this afternoon's board meeting at 2:00 pm. Later this morning, I will be forwarding another attachment on the Falcon Prospect. Thank you. Donna M. Cagle Executive Administrator to President & CEO Mariner Energy, Inc. 580 WestLake Park Blvd., Suite 1300 Houston, TX 77079 281/584-5511 (phone) 281/584-5515 (fax) dcagle@mariner-energy.com <<Swordfish.ppt>>

Subject: Attachment for the Special Telephonic Meeting of the Board of Directors of Mariner Energy, Inc.

This is the content of an email: Happy New Year! I was hoping you could respond to some issues raised by Enron's Argentine commercial group. They have told me the following: (1) An association known as the "Argentine Association of Derivatives" has developed a document currently being circulated in the Argentine market for use in the near term. It is in Spanish and it is not an ISDA. It is a "short" document (i.e., much shorter than a standard ISDA Master Agreement and ISDA Credit Support Annex). (2) This document is being prepared by experienced professionals. Are you involved in this effort? Is ISDA involved? Perhaps we could schedule a conference call and/or you could provide me with an accurate account of any local activity in connection with the foregoing. If ISDA is not being used in Argentina for commodity swaps and derivatives, Enron needs to understand the issues and current discussions about derivatives transactions. I look forward to hearing from you. Regards. Sara

Subject: "Argentine Association of Derivatives"

This is the content of an email: Just curious - did you ever catch up with Larry Joe Hunter regarding the Long Term Southwest desk's futures deal with Sempra? I'm wondering if I should grab Matt Motley before he goes home today to let him know he needs to get a hold of Tim Cannon about the ADT. Let me know when and if you talk to him. Thanks,
Subject: Futures Deal w/ Sempra