J. Aron & Company

We have received the following executed Master Agreement:

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

Effective Date: 08/14/94

Executed Date: 05/11/00

Enron Entity: Enron North America Corp.

Counterparty: J. Aron & Company

Transactions Covered: All products, except pulp & paper

Please note the following:

1. This ISDA Master Agreement supersedes and replaces the Master Energy Price
Swap Agreement with the referenced Counterparty dated as of 03/09/93.
2. Incorporated is the ISDA Master Agreement is the consent to the assignment
by Columbia Energy Services Corporation ("CES") to ENA of the financial
transactions between CES and J. Aron & Company.
3. J. Aron & Company is the Calculation Agent and Confirming Agent under the
ISDA Master Agreement.