We have received an executed Master Agreement:


Type of Contract:  ISDA Master Agreement (Multicurrency-Cross Border)

Effective Date:   May 31, 2000

Enron Entity:   Enron North America Corp.

Counterparty:   The Ospraie Portfolio Ltd

Transactions Covered:  Approved for all products with the exception of:  Pulp 
and Paper
Enron Emails
Enron Emails