Enron Agreements

Nanette/Lee -

Attached are the updated versions of the BETA and FA, as well as clean
versions of each. Please review these at your earliest convenience.

If all is in order, please have two originals of each document printed for
signature by an authorized officer of Prebon. Once each document is signed
and dated (and the Password is completed in the FA), please fax a copy of
each agreement to Bob at 713-646-2126. Enron will countersign the faxed copy
and forward a copy to your attention via fax. The originals should also be
forwarded to Bob so that they can be physically countersigned by Enron.

Please let me know if there is anything further that either of you should
need.

Thanks for the continued cooperation on this matter.

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