Re: various industrials

Chevron Phillips- we have a Master Firm between HPL and Chevron Chemical -
would it be OK (and easier) to get it assigned to the new entity?

BASF Corporation - ditto comment on Roche on preference for a Master Swap
rather than an ISDA - they are at ground zero, and would find the ISDA
intimidating

Air Products, Inc.- no premium - flat to index

Roche Vitamans- believe they are a strong (Swiss) credit

Thanks

Lee

From: Russell Diamond
09/18/2000 10:40 AM

To: Lee L Papayoti/HOU/ECT@ECT
cc: Veronica Espinoza/Corp/Enron@ENRON
Subject: Re: various industrials

Lee,

Regarding these industrial:

Chevron Phillips- Veronica Espinoza an analyst here in the group had looked
into them and can provide you the status on this, I think she was going to
put a Master Firm Contract in place.
Is this with HPL?

BASF Corporation - I will follow up with this, the analyst who was looking
into it, recently left Enton and provided me no insight into this.

Air Products, Inc.- We do have a guaranty from Air Products and Chemicals
for HPL, I presume this transaction will be with HPL. What premium are you
looking at?

Roche Vitamans- We have a file on this counterparty, although I am not
familiar with them, either Veronica or myself will take a look and get back
to you.

Thanks,
Russell

From: Lee L Papayoti on 09/18/2000 10:02 AM
To: Russell Diamond/HOU/ECT@ECT
cc:
Subject: various industrials

Russell:

Need to get an update on a couple of deals:

"Chevron Phillips Chemical Company, LP" - did you get the information that
you needed??

"BASF Corporation" - I requested an ISDA a few weeks ago and have
forgotten who was working on it - do you have an update??

PLUS a couple of new deals:

"Air Products, Incorporated" - a one year deal out of October for 3,000
MMBtu/d, priced at Inside FERC Houston Ship Channel flat, guarantee from "Air
Products and Chemicals, Inc."

"Roche Vitamins Inc." - I'd like to request a Master Swap for these guys -
volumes would be small, less than 500 MMBtu/d, no more than one year term. I
really donlt want an ISDA - that would blow their mind, I'm really looking
for the Enron Master Swap

Call me at 3.5923 when you're ready to discuss above

Thanks

Lee