Bob -

Attached are the revised fee agreement and beta for Amerex.

Please look over at your convenience and let me know if there are any 
additional comments.  If not, I will be happy to forward the attached to 
Amerex for review and comment.

          

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com