Output from Operations/Control Review in Buenos Aires

Ted Murphy and I met with the Arther Andersen team this morning that
accompanied us on our trip to Buenos Aires. We reviewed the observations and
recommendations in written form that we had discussed briefly with you on our
last day your office. After making a few changes, AA should be forwarding to
you a copy of the draft document later this afternoon. We would welcome
your comments and your additions on anything that you think we may have
missed. Ted and I will be meeting with Rick Causey and Rick Buy within the
next couple of days to discuss our operations and control review, so your
responses would be welcomed prior to that meeting.

I look forward to working with you and others in your office in my role over
Global Risk Management Operations. In addition to overseeing common
standards and controls for opeartional practices, I will work as your
advocate for system and resource needs in order to insure success for your
business plan in Buenos Aires.