Marketing Affiliate Compliance

Drew and Greg,

Andy Fastow is currently shown in the organizational chart on Northern Natural's electronic bulletin board as "President, Northern Pipeline Sales Division". Apparently, he was named to this position because he was not an officer or director of one of our marketing affiliates and was also not an officer or director of Northern. This satisfied the requirements of the marketing affilate rule. Given recent personnel changes at Enron Corp., it's now necessary to find a replacement for Andy Fastow. Frazier King suggested Cindy Olson, who also is neither an officer or director of a marketing affiliate nor an officer or director of Northern. I wanted to run this by both of you before proceeding further. I would appreciate your thoughts. Thanks.