i have spoken to bill and he is getting his group to go thru these today. i realize there may be valuation issues but the counterparty can raise and we discuss.
 -----Original Message-----
From: 	Rohauer, Tanya  
Sent:	Thursday, December 20, 2001 3:03 PM
To:	St. Clair, Carol
Cc:	Sager, Elizabeth; Portz, David; Murphy, Harlan; Hansen, Leslie; Mellencamp, Lisa; Nettelton, Marcus; Shackleton, Sara; Bradford, William S.; Reasoner, Monica; Brackett, Debbie R.
Subject:	RE: EPMI LC's 

I doubt it as I do not believe any margin calls have been made since our filing; Monica should confirm this.  Unfortunately, we do not have clarity on the valuations, thus we do not know if we are truly entitled to continue to hold the LCs. We can always call for a renewal assuming the same exposures and wait for them to dispute it.

Tanya

 -----Original Message-----
From: 	St. Clair, Carol  
Sent:	Thursday, December 20, 2001 12:00 PM
To:	Rohauer, Tanya
Cc:	Sager, Elizabeth; Portz, David; Murphy, Harlan; Hansen, Leslie; Mellencamp, Lisa; Nettelton, Marcus; Shackleton, Sara; Bradford, William S.
Subject:	EPMI LC's 
Importance:	High

Tanya:
The LC's that have been posted to us by El Paso, LG&E and Niagra Mohawk have language that permits us to draw if we have made a request for alternate security, none has been provided and fewer than 20 days are left prior to expiration.  Was this done?

Carol St. Clair
EB 4539
713-853-3989 (phone)
713-646-3393 (fax)
281-382-1943 (cell phone)
8774545506 (pager)
281-890-8862 (home fax)
carol.st.clair@enron.com
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