Problem: BODY: Mary: Enclosed is the Counterparty form that we have come up with for Multi-Product Guarantys. Depending upon the products that need to be covered, each Guaranty will need to be modified to make sure that it describes the proper entities and products. I will send along the Enron form of this shortly but please pass this along to the appropriate people in the credit group. Jeff, Stacy and Harry, Are you going to change the Physical product form of Guaranty to look more like this? Power has changed their form and it may help for us to all be consistent especially when we are asked to amend an existing Guaranty to include more products. If you do decide to amend your form, please send the new form to credit. Thanks for everyone's input.
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A: SUBJECT: Multi-Product Counterparty Guaranty

Problem: BODY: We will be releasing new version of the Stack Manager and the EnronOnline website tonight . The following are the changes 1. Changes to Stack Manager: 1.1 Changes to toolbar icons: To facilitate further development of the system, it has been found necessary to change the toolbar icons at the top of the Stack Manager. The attached file shows the old icon and its new replacement. Next to each image below is the description of the function that is executed as well as the short cut key that is mapped to the same function: 1.2 New Functionality - Auto Suspend The Auto Suspend function allows traders to set an absolute price change from a price level at which you would like the system to automatically suspend a specific product. This function is useful if your products use automatic price resets. To activate this feature: 1. Select a product and click on Product Properties 2. Check the Enable box 3. Enter the Price Check and Suspend at +/- values 4. Click Update Example: a trader Enables Auto Suspend and selects a $35.00 Price Check and a suspension level of +/- $5.00: The system will suspend the product when the mid price is above $40.00 or below $30.00 You will need to enter a new Price Check or disable the Auto Suspend function to reactivate this Product if the Auto Suspend is triggered. Please note the system checks for any products that need to be suspended once a minute. 2. Changes to EnronOnline Website (These changes will be rolled out in phases over the next week and will be available to all customers only by Friday 5/4/01) The following enhancements have been made to the EnronOnline Website: 2.1 Today's Transactions Float Window: In order to float the window, right click on the Today's Transactions section, click on the Float Window option. Sort Ordering: Click on the column heading to change the sort order. Linked Transactions: You can display the linked Transactions in an expanded or collapsed view. To do so, right click in the Transaction display area and select full Expand or Full Collapse. 2.2 Submission Box The submission box has been modified in order to show a space between each set of "zeros" for the volume the customer wants to sell/buy. Savita
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A: SUBJECT: VERY IMPORTANT ENRONONLINE STACK MANAGER CHANGES

Problem: BODY: On or about 5/2/01we opened the above counterparty to transact Canadian/US Currency Swaps on EnronOnline (which they cannot transact under the old Master Energy Price Swap Agreement, they would have to transact udner the GTC). After discussing this counterparty w/Sara Shackleton, an attorney in the swap group, it appears that Sara has been talking to Morgan Stanley and Morgan Stanley does all its interest rate & currency business out of Morgan Stanley Capital Services, Inc. We can keep Morgan Stanley Capital Group open for currency swaps, but if they don't trade currency swaps out of that company we'll know why. Sara is already working on an ISDA Master for Capital Services for Gary Hickerson's group.
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A:
SUBJECT: Morgan Stanley Capital Group Inc.