Spreadsheet: sally_beck__33841__doorstepch
Sheet: Sheet1

 | Project Doorstep
 | Chicago - Metals
 | Observation |  | Current Status |  | Action Plan/Follow up |  | Person responsible |  | Time Line
 | No master agreements with counter-parties |  | Currently, NY office is sending out contracts and confirmations for all Chicago activity. |  | [NAME]. (Houston) have reviewed confirms sent out on Agency business and are in the process of creating General Terms Condition and Master Counter-party agreements for non Agency activity. |  | [NAME] |  | To be determined
 | Individual responsible for invoicing and traffic function is also authorized to trade. |  | All invoicing is now done out of the NY office.  One accountant who performs some coordination funtions now reports directly to [NAME] in the NY office. |  | Sytem upgrades to the AS 400 will provide stronger controls of the invoicing process out of NY. |  | [NAME] |  | 2001-04-01 00:00:00
 | Sales agents are used in several foreign locations without written contracts. |  | The sales agents are being identified and information will be provided to the Tax group in London. |  | The London Tax Dept. is in the process of formalizing agreements for all  Metals Agents. |  | Naomi Connell / Tina Ward |  | To be provided by Tax group
 | Observation |  | Current Status |  | Action Plan/Follow up |  | Person responsible |  | Time Line
 | Open position limits and trader limits are not documented. |  | Position limits and trader limits have been communicated by [NAME] and [NAME] to this office.  Traders in Chicago are NOT permitted to take any positions without [NAME]'s authorization effective November 1, 2000. |  | Follow up phone conversations with traders have taken place to assure compliance.  This office will be an Agency office in January 2001 and all P/L will be managed out of London. |  | [NAME] |  | 2000-11-06 00:00:00
 | Overall credit function is weak. |  | Currently the Chicago office has access to AS 400 for all open commitments by counter-party.  They also have access to SAP for receivable /aging by counter-party.  Credit limit reports are provided by NY Credit.  The aggregation of all three is how credit is controlled. |  | The SAP implementation in London will ultimately link to the Credit Aggregation System.  This system will ultimately provide functional Customer Exposure Reports. |  | Credit: Tim Davies / Marcelo Parra                   Sytems: [NAME] |  | 2001-04-01 00:00:00
 | Observation |  | Current Status |  | Action Plan/Follow up |  | Person responsible |  | Time Line
 | Telephone lines are not taped and traders execute deals from home. |  | Same |  | This office will relocate to an exisiting  Enron Chicago trading office.  All phone lines will be taped in new office.  A global policy should be implemented for cell phone usage by traders. |  | [NAME] (Chicago) /Toby Night (London) |  | ASAP - need input from responsible parties
 | Risk Management in NY does not provide the Chicago office with sufficient detail of position, P/L, etc.. |  | Currently the Chicago office has access to Positions reports via the AS 400.  P/L is provided daily. |  | The P/L responsibility is in London for Prime [NAME] under [NAME].  NY is responsible for scrap under [NAME] with oversight from [NAME].  [NAME] and [NAME] both have  access to full details of all activity and sign off on respective P/L's daily. |  | [NAME] |  | November 1,,2000
 | There are some trades not done in USD.  [NAME] in Cash Management in NY hedges the exposure (ShW discussing with Trina in NY to determine if really true) |  | This Group does not typically deal in foreign currancy.  There has not been any FX trades since March 2000 and none are expected. |  | A policy is in place that all FX hedging is done via our Houston cash management group headed by [NAME]. |  | [NAME] |  | Done
 | Observation |  | Current Status |  | Action Plan/Follow up |  | Person responsible |  | Time Line
 | Stand alone access database does not interface with AS400 additionally, the AS400 does not give all needed information |  | The group uses an off system database to monitor and control Inventory.  The system is designed to support logistics. |  | AS 400 system updates have been requested to eliminate the need for an off system database. |  | [NAME] |  | Not before April 1, 2001