This is the content of an email: Jeff: Just a few comments: 1. In the definition of termination Event, I think that the words "due to" need to be put after the word "means" in the first line. 2. In Section 3.4(a), I noticed that the bracketed langugae "as it relates to the Assigned Interest" has now been deleted. Pursuant to my earlier comment on this, what this maens to me is that with respect to the Fixed Payment piece of this, we can never terminate the swap based on something that happens to Pelican . Is that the way it is supposed to work? If so, plaese explain why. 3. With respect to the lnagugae in Section 3.6(a), instead of saying in the first sentence of such Section "the amount determined..." shouldn't it say "the fair market value of Party A's remaining payment obligations under the Transaction". Section 2(x) of the confirm just refers to Disputed Matters and it is not claer to me what is in dispute when an Event of Default or Termination Event occurs and what amount Party A has to pay when these events occur. What is the priocedure for coming up with this amount? Does each party calculate it and then send it to the experts or do the experts just determine it?

Subject: June 16th draft of swap assignment

This is the content of an email: Hold the Date: November 28, 2001 Place: Institute for International Economics 1750 Massachusetts Avenue NW, Washington, DC Speakers: Under Secretary of State Alan Larson Under Secretary of Commerce Grant Aldonas IIE Director Fred Bergsten TI Chairman Peter Eigen Transparency International USA is pleased to invite you to a Private Sector Luncheon Briefing on November 28, 2001, from 11:30 a.m. to 2 p.m. in Washington, DC. Our speakers from the Administration will be Under Secretary of State Alan Larson and Under Secretary of Commerce Grant Aldonas. IIE Director Fred Bergsten has generously offered to host this event and will share his views on the continuing importance of the fight against corruption. TI Chairman Peter Eigen will bring participants up to date on the growth of the TI global network. TI is playing a key role in the monitoring process designed to assure enforcement of the OECD Anti-Bribery Convention. With the economic downturn, effective enforcement is now even more critical to dissuade those who would use bribes to secure business. With US attention turned to mounting a global coalition to address the terrorist attacks of September 11, we must redouble our efforts to ensure that the Administration and the Hill provide adequate political and financial resources for the anti-corruption agenda. The private sector must continue to play a central role in this effort. This timely and important meeting will provide a forum for the private sector to share its views with policy makers. We will also devote time to a frank and informal discussion of TI-USA priorities and how to meet the challenges ahead. Please let us know if you plan to join us.

Subject: TI-USA Private Sector Luncheon Briefing

This is the content of an email: just talked to marcello castilho, the head of petrobras office in london. he gave me the following: their crude production is down by 900mbd. they have crude and product stocks for the next 5 days, but then will need to buy. initially the thought wud b to buy crude however, the situation may have worsened at the refineries. he was pessimistic about the discussions. said that petrobras called them to a meeting ydy as everyone knows and only upped the ante by 1pct on their side vs the 8.5 sought plus the inflation catch-up of 42pct. this really angered the unions and they have now said they will not come back to the table before seeing the numbers next time. he said petrobras is up against internal competition now from other oil and gas companies who are offering ex petrobras workers a 15pct increase over their current pay, so petrobras is in a poor position. so far the refs have been running at very low rates and the managers have not allowed the workers to leave the prmeises but have bunked them and fed them their in 12 hour shifts. by law they can only do this for 3 days and some fighting has already broken out at one location, so doubtful they can continue the 'imprisonment' much longer. if it comes to a bigger showdown he thinks the unions will just shut the refs down on the last shift that they work, and he will be buying product not crude.

Subject: petrobras update

This is the content of an email: The attached schedule covers Wednesday and Thursday, Jan 23-24. The schedule sent Friday for Wednesday, Jan 23 has been updated to incorporate a new weather forecast of 1-22, as communicated via my earlier email. Associated text files for both days will be posted to Sparky as usual.
Subject: EES CA SCHEDULE for 1/23/02 (REV) and 1/24/02