ISDA Master Agreement between ENA and Cargill, Incorporated

We have received the following executed Master Agreement:

Type of Contract: ISDA Master Agreement (Multicurrency-Cross Border)

Effective Date: April 16, 1999

Enron Entity: Enron North America Corp.

Counterparty: Cargill, Incorporated

Transactions: Approved for all products except: pulp and paper and
foreign exchange

PLEASE NOTE: Counterparty has three (3) Local Business Days to accept or
dispute a Confirmation.

Susan D. Flynn
Enron North America Corp.
1400 Smith Street, EB3806
Houston, Texas 77002
Phone: 713-853-0975
Fax: 713-646-3490