Problem: BODY: We are presently contacting Morgan Stanley Dean Witter to facilitate opening of an account for EPHXII to trade ADRs. You will need to provide a resolution authorizing opening of the account as well as an authorized trader list and other contacts. We will provide you with drafts. I am certain that the broker will accept fax signatures and then follow up with originals. For future reference, will this be an isolated instance (i.e., deal specific) or will these accounts become more routine? Just wondering if S. Cone has a formal trading policy or if trading is still deal specific. SS
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A: SUBJECT: Enron Power Holdings XII Ltd. ("EPHXII")

Problem: BODY: I spoke to Edmund to get the scoop on what we are going to be doing on the confirms for Credit Derivatives, and he said that his current understanding is that all of the confirms will be done out of London. I communicated that to Bob Bowen. He also said that London was going to be hiring 120 people to deal with the Credit Derivatives business. Wow!
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A: SUBJECT: Credit Derivatives-FYI

Problem: BODY: All, Below is a resume of Manuel. I met with him and has a good background and is a superior performer. He is willing to locate from Manilla and would go to Sydney and Tokyo. Interesting origination oppt. Mike List
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A:
SUBJECT: Thank You