All:

Just spoke with Harvard's lawyer Kim Noble who appreciated speaking with Bill earlier this week.

ENE has triggered an Additional Termination Event under the ISDA (commercial paper rating at A-2 and ENE placed on "watch" status) but Harvard does not want to terminate. 

Harvard will propose an amendment to the effect that our Threshold will drop to 0 as long as a short term rating is at A-3.

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