ETS Risk Management Policy

pls print. thanks
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 11/09/2000
05:28 PM ---------------------------

From: Dan Fancler 11/09/2000 01:12 PM

To: Rudi Zipter/HOU/ECT@ECT
cc: Bob Chandler/ET&S/Enron@Enron, Jerry Peters/NPNG/Enron@ENRON, Drew
Fossum@ENRON, Tony Pryor/ET&S/Enron@ENRON

Subject: ETS Risk Management Policy

Rudi,

Below is ETS Risk Management Policy, which we would like Corporate to review
before it is presented to management for approval and limit establishment. I
have also attached a 1st draft of the Risk Management Procedures and Controls
that while not all are fully in place we expect them to be operational once
transactional active increases.

Rudi, who would be the person to check with on this policy.