Product Type approval for 3 product types (Heating Oil Fin Options)

Your approval is needed for the following 3 product types in Datamanager:

US HeatingOil2 Fin Opt
US HeatingOil2 Fin Opt Call
US HeatingOil2 Fin Opt Put

Please do not approve between the hours of 6 am and 11 am.

US HtOil Fin Opt Nymex HO AP 85.00 Dec01 c/GL-L

A financial Option Transaction with Enron North America Corp., under which
the Seller receives the Premium and the Buyer receives the Cash Settlement
Amount. Each calendar month during the Term of the Transaction will be a
Determination Period, provided that if the Term of the Transaction is less
than one calendar month the Determination Period shall be the Term of the
Transaction. The Notional Quantity per Determination Period shall be
calculated from the volume submitted by Counterparty on the Website in
accordance with the unit of measure. The Premium shall equal the product of
(i) the price submitted by Counterparty via the Website, multiplied by (ii)
the Notional Quantity per Determination Period, multiplied by (iii) the
number of Determination Periods during the Term of the Transaction. The
Payment Date for the Premium shall be 2 business days after the Trade Date of
the Transaction. The Payment Date(s) for the Cash Settlement Amount shall be
5 business days after the Cash Settlement Amount is determinable. Where this
Transaction is a Call Option, the Cash Settlement Amount shall be the greater
of (i) zero, or (ii) the product of (a) the Notional Quantity per
Determination Period, multiplied by (b) the Index minus the Strike Price.
Where this Transaction is a Put Option, the Cash Settlement Amount shall be
the greater of (i) zero, or (ii) the product of (a) the Notional Quantity per
Determination Period, multiplied by (b) the Strike Price minus the Index.
The term of the Transaction shall be from the Effective Date of 01 Dec 2001
to the Termination Date of 31 Dec 2001.
The Exercise Period(s) shall be the last Trading Day of the NYMEX Heating Oil
Contract during the applicable Determination Period. The Index for a
Determination Period shall be the simple arithmetic average of the daily
settlement prices of the prompt month NYMEX Heating Oil Futures Contract for
each Trading Day during such Determination Period.
The price is quoted in cents (US) per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the volume is shown shall be 42,000 gallons
per month.
The Option style and type shall be an Asian Put/Call. Automatic Exercise is
Applicable.
The Strike Price for the Transaction shall be as set forth on the Website.

US HeatOil2 Opt Nymex HO EP 85.00 Dec01 c/GL-L

A financial Option Transaction with Enron North America Corp., under which
the Seller receives the Premium and the Buyer receives the Cash Settlement
Amount. Each calendar month during the Term of the Transaction will be a
Determination Period, provided that if the Term of the Transaction is less
than one calendar month the Determination Period shall be the Term of the
Transaction. The Notional Quantity per Determination Period shall be
calculated from the volume submitted by Counterparty on the Website in
accordance with the unit of measure. The Premium shall equal the product of
(i) the price submitted by Counterparty via the Website, multiplied by (ii)
the Notional Quantity per Determination Period, multiplied by (iii) the
number of Determination Periods during the Term of the Transaction. The
Payment Date for the Premium shall be 2 business days after the Trade Date of
the Transaction. The Payment Date(s) for the Cash Settlement Amount shall be
5 business days after the Cash Settlement Amount is determinable. The Cash
Settlement Amount shall be the greater of (i) zero, or (ii) the product of
(a) the Notional Quantity per Determination Period, multiplied by (b) the
Strike Price minus the Index
The term of the Transaction shall be from the Effective Date of 01 Dec 2001
to the Termination Date of 31 Dec 2001.
The Exercise Period(s) shall be the last Trading Day of the NYMEX Heating Oil
Options Contract for the applicable Determination Period. The Index for a
Determination Period shall be the settlement price for the NYMEX Heating Oil
Futures Contract for the applicable Determination Period on the expiration
day of the NYMEX Heating Oil Options Contract for such Determination Period.
The price is quoted in cents (US) per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the volume is shown shall be 42,000 gallons
per month.
The Option style and type shall be a European Put ("EP"). Automatic Exercise
is Applicable.
The Strike Price for the Transaction shall be as set forth on the Website.

US HeatOil2 Opt Nymex HO EC 85.00 Dec01 c/GL-L

A financial Option Transaction with Enron North America Corp., under which
the Seller receives the Premium and the Buyer receives the Cash Settlement
Amount. Each calendar month during the Term of the Transaction will be a
Determination Period, provided that if the Term of the Transaction is less
than one calendar month the Determination Period shall be the Term of the
Transaction. The Notional Quantity per Determination Period shall be
calculated from the volume submitted by Counterparty on the Website in
accordance with the unit of measure. The Premium shall equal the product of
(i) the price submitted by Counterparty via the Website, multiplied by (ii)
the Notional Quantity per Determination Period, multiplied by (iii) the
number of Determination Periods during the Term of the Transaction. The
Payment Date for the Premium shall be 2 business days after the Trade Date of
the Transaction. The Payment Date(s) for the Cash Settlement Amount shall be
5 business days after the Cash Settlement Amount is determinable. The Cash
Settlement Amount shall be the greater of (i) zero, or (ii) the product of
(a) the Notional Quantity per Determination Period, multiplied by (b) the
Index minus the Strike Price.
The term of the Transaction shall be from the Effective Date of 01 Dec 2001
to the Termination Date of 31 Dec 2001.
The Exercise Period(s) shall be the last Trading Day of the NYMEX Heating Oil
Options Contract for the applicable Determination Period. The Index for a
Determination Period shall be the settlement price for the NYMEX Heating Oil
Futures Contract for the applicable Determination Period on the expiration
day of the NYMEX Heating Oil Options Contract for such Determination Period.
The price is quoted in cents (US) per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the volume is shown shall be 42,000 gallons
per month.
The Option style and type shall be a European Call ("EC"). Automatic Exercise
is Applicable.
The Strike Price for the Transaction shall be as set forth on the Website.

STEPS FOR APPROVAL:

click the START button
select PROGRAMS
select TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up
TO APPROVE: Right mouse click on "Approved"