Hey Russell,

We talked about this point earlier (see an e-mail to you dated September 22, 
2000) and we agreed that the guarantees would not reference both Enron North 
America and Enron Canada Corp.  There were a number of reasons for this (ie. 
complexity regarding future amendments, the differences/peculiarities between 
Canadian and American law, possible "permanent establishment" issues we had 
discussed, etc.).  You may also want to look at the e-mail I sent to you on 
September 26, 2000 (re: the East desk deals with ENA).

Is this not the case anymore?  I think it is better to have separate 
guarantees for all of the reasons mentioned in the September 22, 2000 e-mail, 
the September 26, 2000 e-mail and this e-mail.

Please let me know.

Mark Powell




To: Mark Powell/CAL/ECT@ECT
cc:  
Subject: Engage Canada- Credit W/S

Hey Mark,

Are you ready for some more fun, I have attached the Credit Worksheet for 
Engage Canada.  Please read the comments at the bottom of the worksheet 
pertaining to the guaranty's.

Call with any questions.

Russell
Enron Emails
Enron Emails