Q: The Weather Derivatives audit, executed by Andersen, has been completed. The attached Final Report has been reviewed with key process owners and issues were discussed with appropriate personnel, both during the audit and at the closing meeting. Final Reports will also be reviewed in detail with Wes and Sally on a periodic basis. EAS will follow up with you regarding implementation of corrective action for High Priority Items If you have any questions, please contact me at ext. 5-4554. Thank you. Mechelle Atwood Director, Enron Assurance Services Enron Wholesale Services
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A: Weather Derivatives Audit Report

Q: I think this is the most recent version of the ETA. Obviously, this is the UK version and Sullivan & Cromwell are turning it into a US document. The US version will be governed by NY law and contain an arbitration clause. We're also trying to figure out how much to say about the confirmation process since it may vary from product to product and will almost certainly be different from the UK version. Speaking of which, I was surprised to find that they have the telephone conversation (and in this case the web site records) control over a confirmation which has been signed by both parties. What's the practice in your part of the world? One alternative is to insert the language (or something like it) that we use in financial trading which says that we will send a written confirm, gives the counterparty a short time (2 or 3 days) to respond and indicates that silence will be deemed acceptance. Would that work for your deals? Anyway, I'm in NY today and tomorrow, back in the office on Wed. Louise is insistent that the GTC's be available to be uploaded this weekend. I'll be calling in periodically tomorrow and will try to get you since I'm sure you will have issues to discuss - and now is the right time to get changes made to the ETA if necessary.
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A: Revised documentation

Q: Thanks again for your help, advice and Cristina's phone #. We'll see where it goes from here. But I'm shocked. I called Cristina, and NO answering machine. I didn't think that happened anymore. Any way of leaving her a message? Thanks again.
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A: Cristina

Q: Hi Sara, I believe we still have an interest in using an Enron form as a go by for the Enron/Peoples activities. If you can give me what you are comfortable with, I will make sure it is transmitted with the appropriate caveats, confidentiality restrictions, etc. Thanks,
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A:
ISDA for Peoples/Enron activities