QUESTION: I am negotiating an ISDA on behalf of ENA with an Australian corporate insisting upon a legal opinion (enforceability) with respect to the Enron Corp. guaranty. Is this a customary request by Australian corporates that you would normally grant? If so, who has issued the opinion? I look forward to your reply. Regards. Sara
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ANS: Australian counterparties - Guaranty in connection with ISDA Master Swap Agreement

QUESTION: Please read the following carefully and retain this information for use whenever you trade on Bloomberg: 1. Bloomberg charges a $15 FLAT broker fee. 2. This fee applies whether you are the aggressor or receiver of a trade. 3. This fee applies each time you make a trade on Bloomberg i.e. $15 per hit or lift, regardless of volume 4. When you extend a Bloomberg deal in Deal Entry, account for each separate trade accordingly by adding $15 to any existing broker fee. ****** 5. Because this fee is FLAT, select the "FLAT" button to the right of the broker fee. ***** 6. And most importantly, make a note in the "BROKER" box that the broker is in fact Bloomberg. I know that many of you were never notified of the Bloomberg fee structure, but going forward we should see every trade done on Bloomberg showing up in the system as having been done with Bloomberg. The Confirms group in Houston has compiled a weighty list of "missing" hourly trades since the advent of Real Time Bloomberg trading. I believe these are all in the system, but possibly short a broker name and fee. This, going forward, should no longer be a problem. Please let me know if you have any questions regarding Bloomberg trading and/or fees. Thanks,
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ANS: Bloomberg Fees

QUESTION: The Fourth Quarter and Year 2001 Performance: The model portfolio has gained 12.78% during the fourth quarter versus a 10.42% gain for the S&P500. While the market has not delivered positive returns for the year, we are happy to point out that the Industry Selector is in positive territory as the year comes to an end. The year to date gain of 1.12% is leading the benchmark by 1407 basis points. Looking forward to the first quarter of 2002, our Industry Selector favors: Aerospace/Defense, Auto Parts & Equipment, Communication-Equip/Mfrs., Distributors, Electronics (Semiconductors), Electric Companies, Electrical Equipment, Equipment (Semiconductors), Financial (Diversified), Foods, Footwear, Health Care (Drugs), Insurance Brokers, Insurance (Life/Health), Publishing (Newspapers), Retail Stores (Dept. ), Retail Stores (Drug). (full article attached) LJE www.lajollaeconomics.com
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ANS:
The Industry Selector*