Lehman Brothers Finance S.A.

We have received an executed financial Master Agreement:

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

Effective Date: November 14, 2000

Enron Entity: Enron Corp.

Counterparty: Lehman Brothers Finance S.A.

Transactions Covered: This Agreement is limited to only Equity derivative
transactions

Confirming Entity: Enron Corp.

Choice of Law: New York

Copies will be distributed.

Stephanie Panus