Subject: "Risk Metrics".

Body: ATTORNEY CLIENT COMMUNICATION ATTORNEY WORK PRODUCT CONFIDENTIAL COMMUNICATION Brian/Craig - I spoke to Helaine Fine of Risk Metrics. She indicated that RM is looking at the min. license fee number of $96K as the value to reimburse RM for the development costs of the CreditStream product. I pointed out that we would be entitled to the $4800 revenue share from the one subscriber (as we discussed). She acknowledged that this was provided for under the agreement and realized that we had not provided for any consideration if RM had to reimburse all subscription fees to subscribers. I also pointed out that we had no use for the CreditStream name and trademark application and no real value associated with it either, but that we would be willing to assign this to RM if they saw any use or value. My thought on that is to simply recoup our legal costs in pursuing the application to this point - probably around $1,500 to $2,000. Helaine was going to speak to Alan about all of the above and get back to me. No mention was made of the Credit Manager product and I believe we should leave it that way for now. I'll keep you updated. Mark

Subject: "Professional Update".

Body: I was promoted effective February 1, 2001 to Managing Director of Global Risk Management Operations for Enron Corp. in Houston. In this role I manage all mid and back office services for all commodities markets within Enron's wholesale businesses: Enron Americas, Enron Global Markets, Enron Industrial Markets and Enron Europe. I received my BBA from UT-Austin in 1975 and my MBA in 1977. My maiden name while attending school was Sally White.

Subject: "FOEX PIX Paper".

Body: Hello Team, The FOEX PIX Paper US Benchmark Index for newsprint fell to $506.16 this week, down $4.71 from last week. In the months of October and November, the FOEX PIX Paper prices have oscillated between falling and stabilizing. Ayesha

Subject: "OGS (Oakhill) CSA Drat".

Body:
FYI, Here is a copy of the Draft agreement with the addition of text in red that Barbara wanted to incorporate as part of our "template". Oakhill will not get the red in this draft. The text in blue is what I added or changed with Barbara's input. We've incorporated a few new concepts: - we have a "date certain" for our deal to start - I've provided for operation before our "Start Date" (because we've mitigated construction risk by pushing the Start Date back). This is termed the "Pre-Start Date Period" which can begin after we have completed the "Facility Testing" and deemed the facility suitable and ready for commercial operation. - I've reduced the most of the response and notifications timing from the customer to ECS. Comments? mk