TFS

Bob -

Attached is an updated form of the BETA for TFS. Based upon my conversation
with Dan last night, I have put the provisions of Paragraph 3(e), dealing
with Liquidated Damages, back into the agreement and modified them to delete
the need for the letter of credit.

Please take a look at the attached and let me know you thoughts.

Thanks.

Mark
Senior Counsel, EWS
Phone: 713-345-8897
Facsimile: 713-646-3490
E-Mail: Mark.Greenberg@enron.com