Beth Ng at Morgan has requested that trades in the names of Enron Liquid Fuels, Inc. ("ELFI"), Enron Reserve Acquisition Corp. and Enron Gas Liquids (physical and financial) be "novated" or transferred to ENA.  Beth is aware that this is a credit issue.

I have copies of four (4) financial confirms between Morgan and ELFI.  These were produced by Morgan for Trade Dates February 28, 2001 (30,000 BBL total ethane), March 6, 2001 (30,000 BBL total propane),March 26, 2001 (150,000 BBL total propane) and March 26, 2001 (150,000 BBL total propane).

Beth has probably contacted Jeff Hodge and/or Alan Aronowitz on the physical side with the same request.

Thanks.  Sara



Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490
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