Frank:  Brant's worksheet contains the remaining items for the amendment to 
the ISDA Master Agreement.  

Brant:  Your  credit worksheet is  in the name of "Glencore Ltd.".  Since 
we're amending the master to reflect Glencore's home office as our 
counterparty, please verify that your credit is appropriate for "Glencore SA".

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 03/05/2001 11:16 AM -----

	Brant Reves
	02/23/2001 11:14 AM
		
		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Dan J Hyvl/HOU/ECT@ECT
		 Subject: Re: Glencore

Sara,

Here is a credit worksheet detailing the changes we should include in the 
ISDA amendment.



Dan,

I am forwarding by interoffice mail (i do not have an electronic copy) a 
physical/financial guaranty for your review.  As of now, they do not transact 
with Enron in the physical markets, but they may in the future.  Please 
review...

thanks
brant





Sara Shackleton
02/23/2001 09:48 AM
To: Brant Reves/HOU/ECT@ECT
cc:  
Subject: Glencore 



ENA will review CP's form of guaranty and comment; Brant will circulate 
guaranty to a physical lawyer and advise him that financial is also 
reviewing.  I spoke with David Porter and we have decided to amend the ISDA 
to acknowledge that all three branches can transact under the existing 
Glencore Ltd. master agreement.  The use of several different corporate 
designations (Ltd., SA, AG) is confusing CP's trading partners in the U.S.

Click on this link to view the document in the Financial Trading Agreements 
database-->
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