Spreadsheet: andy_zipper__216__EOL_Countries&Products_Status_05-25-01
Sheet: Activated Countries

 |  |  |  |  | ACTIVATED COUNTRIES |  | as of:
 |  |  |  | THE AMERICAS
# | Available at: |  | Date Changed | Activated Country | Business Unit | Business Unit  Contact | Process Manager | Responsibility |  |  | Scheduled for: | Comments:
 |  |  | 2000-10-05 00:00:00 | Bermuda | Weather | Waiting on [NAME] | [NAME] | [NAME] | Approved | Approved | 2000-09-01 00:00:00 | 08/15 No date yet. [NAME] is checking and will get back to us. [NAME] will get ETA. Brent is working on country. 10/5 [NAME]'s legal forms are the same as North America's. Done
 |  |  | 2000-10-05 00:00:00 | Chile | MG | [NAME] | [NAME] | [NAME] | Approved | Approved | 2000-09-01 00:00:00 | 08/15 More info  Wed. 8/31 May need an agent for service of process in the U.S. (Brent is checking). 10/5 Chile can use NA's ETA and PA. Enron entity must not be present in Chile and EOL agreements should not be subject to local law. Done
 |  |  | 2000-10-05 00:00:00 | Peru | MG | [NAME] | [NAME] | [NAME] | Approved | Approved | 2000-09-01 00:00:00 | 08/15 More info  Wed. 8/31 May need an agent for service of process in the U.S. (Brent is checking). 10/5 Chile can use NA's ETA and PA. Enron entity must not be present in Chile and EOL agreements should not be subject to local law. Done
 |  |  | 2000-10-20 00:00:00 | Argentina | Enron Argentina | [NAME] | [NAME] | [NAME] | Approved | Approved | 2000-10-01 00:00:00 | 08/15 Draft of legal Documents later this week. 8/31 [NAME] has not been forthcoming. 09/07 Pending! 10/13 Waiting on approval for legal documents.10/20 Legal approval for PA, ETA, GTC-phy gas, and Phy Gas prod Description.  To be launched on Oct 23rd. Done
 |  |  |  | AFRICA
# | Available at: |  | Date Changed | Activated Country | Business Unit | Business Unit  Contact | Process Manager | Responsibility |  |  | Scheduled for: | Comments:
 |  |  | 2000-10-05 00:00:00 | South Africa | [NAME] | [NAME] | [NAME] | [NAME] | Approved | Approved | TBD | 08/15 No date yet.  8/22 Issue: South Africans can not make payments to non-residents without approval of Reserve Bank.  Reserve Bank gives no approvals to South Africans in respect of commodity or derivative transactions with foreign counterparties.  9/22 Allowed to trade commodities but must provide evidence of exchange control approval. Oct 5 - Approved to trade LME Contracts, commodity and weather derivatives, physical non-ferrous metals and coal.  South African ctprty to provide evidence of exchange control approval in advance.
 |  |  |  | ASIA / AUSTRALIA
# | Available at: |  | Date Changed | Activated Country | Business Unit | Business Unit  Contact | Process Manager | Responsibility |  |  | Scheduled for: | Comments:
 |  |  | 2000-10-05 00:00:00 | China | MG | [NAME] | [NAME] | [NAME] | Approved | Approved | TBD | 8/22 Commodity derivatives trading within China is not promoted unless it takes place on a domestic futures exchange. 9/22 Gas and power cannot be traded, waiting for metal, coal and oil.  10/05 Approved to trade OTC forwards from overseas base.  Await info re: other derivatives and physical metal, coal and oil.
 |  |  | 2000-10-05 00:00:00 | Hong Kong | MG | [NAME] | [NAME] | [NAME] | Approved | Approved | 2000-10-01 00:00:00 | 8/15 Initial and follow up advice received. Further clarification still needed. 9/22 Legal review.  10/05 - Approved to trade LME Contracts, OTC commodity derivatives and physical commodities.
 |  |  | 2000-10-20 00:00:00 | Taiwan | Enron Metals | [NAME] | [NAME] | [NAME] | [NAME] | Completed | TBD | 8/15 Need to confirm status. [NAME] will update. 9/22 - Some due diligence completed, Justin forwarded additional instructions. 10/05 Free to trade Physical/derivatives for oil and metals. Many import hurdles and maybe some withholding tax impact on derivative income (up to 20%) 10/20 The execution and marketing of LME Contracts will require a local licence if Enron is deemed to engage in futures in Taiwan. The mere availability and use of the website EOL does not give rise to this. however, any other direct solicitation or marketing into Taiwan will give rise to a licence. Completed
 |  |  | 2000-11-03 00:00:00 | Israel | Seafreight | [NAME] | [NAME] | [NAME] | Completed | Completed | 2000-10-01 00:00:00 | 8/15 Initial outside legal responses received. Issues need clarification. 8/22 Advice outstanding: due at end of August.  10/5 - Free to trade LME Contracts and commodity derivatives.  Insurance companies, pension funds and municipalities to be excluded.   Israeli ctprtys to provide evidence of exchange control approval prior to transaction. Awaiting additional advice re physical trading.  11/3  The physical trading of all commodity products for delivery outside Israel is generally permitted. Completed
 |  |  | 2001-02-16 00:00:00 | China | Enron Metals | [NAME] | [NAME] | [NAME] | Done | Done | TBD | 8/22 Commodity derivatives trading within China is not promoted unless it takes place on a domestic futures exchange. 9/22 Gas and power cannot be traded, waiting for metal, coal and oil.  10/5 Approved to trade OTC forwards from overseas base.  Await info re: other derivatives and physical metal, coal and oil.  11/3  Commodity derivatives: cannot trade these as there is no express legal basis under PRC law.  Other legal restrictions also apply.  LME Contracts: (i) physical marketing in PRC should be avoided and marketing should be restricted to PRC counterparties with an established trading record, and (ii) PRC counterparties are required to obtain business permit and other governmental licences to conduct overseas commodity futures trading (this will involve Enron Metals Limited and the LME being designated as approved bodies).  Generally free to buy/sell physical copper for delivery in-warehouse in PRC.  Natural gas/electric power: cannot trade, foreign participation prohibited.  Await advice in relation to physical trading of coal and oil. 02/16 Done
 |  |  |  | EUROPE
 |  |  | Date Changed | Activated Country | Business Unit | Business Unit  Contact | Process Manager | Responsibility |  |  | Scheduled for: | Comments:
# | Available at: |  | 2000-10-20 00:00:00 | Latavia | MG | [NAME] | [NAME] | [NAME] | [NAME] | Completed | 2000-10-01 00:00:00 | 9/22 can trade commodity derivatives.  10/5 - Free to trade commodity derivatives. Banks and insurance companies should be excluded. 10/20 Completed
 |  |  | 2000-10-20 00:00:00 | Russia | MG | [NAME] | [NAME] | [NAME] | [NAME] | Completed | 2000-11-01 00:00:00 | 8/15 Initial and follow up advice received. Further clarification still needed. 8/22 Issues; A) Risk of non-deliverable transactions not unforeseeable. B)  Payments in foreign currency might require case-by-case consent from Central Bank. C) Every trade with a Russian counterparty needs to be documented in writing. 10/5 Free to trade LME contracts and in commodities and commodity derivatives. There are licensing requirements for power, metal and gas. Cash settled derivatives could be regarded as unenforceable gaming contracts under Russian law. Central Bank license needed for exchange control purposes.  10/20 Completed
 |  |  | 2000-11-24 00:00:00 | Greece | Seafreight | [NAME] | [NAME] | [NAME] | Completed | Completed | 2000-09-01 00:00:00 | 8/15 Initial outside legal responses received. Issues need clarification. 8/22 There are significant restrictions on trading in gas and power. In addition, only companies possessing a license issued by the Ministry of Development can trade oil. No [NAME] required only permission from Capital Mkt. Committee. 9/22 waiting on legal advice on metal, coal, and oil. 10/5 Free to trade commodity derivatives but need permission to solicit within Greece. Physical trading of electricity and gas not permitted. Awaiting legal advice on physical trades in metal, coal and oil. 10/20 Physical trading of coal and metals permitted. Seeking clarity re physical trading of crude, electricity and gas. 11/6 Free to trade commodity derivatives but need permission to solicit within Greece. The costs of such approval will be limited to nominal administrative costs and legal expenses – it is difficult to determine the time it would take to obtain such approval, given the infrequency of the procedure being used. Physical trading of crude, electricity and gas not permitted without a licence - this only relates to trading activities within Greece. Physical trading of coal and metal is permitted. 11/24 Completed
 |  |  | 2000-11-24 00:00:00 | Monaco | Enron Metals | [NAME] | [NAME] | [NAME] | Completed | Completed | TBD | 11/3  New due diligence surveys have been sent to Counsel in this jurisdiction. 11/17  Trading of physical metals and metals derivatives is permitted. It is important, for regulatory purposes, that trades are negotiated and concluded by the applicable Enron trading entity without any physical presence in Monaco. 11/24 Completed for metals only
 |  |  | 2000-12-08 00:00:00 | Slovakia | Cont Power | Guther Tuhy | [NAME] | [NAME] | Completed | Completed | TBD | 11/3  New due diligence surveys have been sent to Counsel in this jurisdiction. 12/08 Completed
 |  |  | 2000-12-08 00:00:00 | Turkey | Seafreight | [NAME] | [NAME] | [NAME] | Completed | Completed | 2000-09-01 00:00:00 | 8/15 Initial outside legal responses received.  8/22 For enforceability  a hard copy of an umbrella agreement should be signed. Follow up advice awaited!!!  9/22 ETA and PA needs to be adapted for Turkish law.  10/5 Free to trade commodity derivatives. Await advice in relation to physical trading. Law may require changing the ETA and PA. 10/20 ETA and PA amended. Trading and marketing of commodity derivatives requires prior approval of Turkish Capital Markets Board. 11/3 After further discussions with Counsel, it seems that the prior approval of the Turkish Capital Markets Board is only required for marketing (including via the Internet) to the public at large; no approval would therefore apply to our trading activities. A further adaptation of the ETA is required to take into account Turkish currency law matters. 11/17 Time required for the approval from Turkish Capital Markets Board is estimated at 3 months. 12/08 Completed