Re: Duke Energy International

Pat,

This waiver has to deal with a provision in the ECT master swap agreement
that requires that the agreement and its contents be kept confidential,
except to certain people like auditors. It did not allow the agreement to be
provided to affiliates. Duke wants to copy the terms of the master agreement
in has in place with ECT and use it for this Duke Energy International that
is doing the deal down in Argentina. Duke Energy cannot even provide Duke
Energy International with a copy of this agreement unless it gets ECT's
permission to give them a copy of the agreement. That it what I am trying to
resolve, whether there is any business reason why we would not want to give
Duke Energy International the right to look at that agreement.

Your issue, obviously, is what business Federico is doing. My issue is more
of a documentation/legal issue.