Northern Natural Gas - Marketing Affiliate Compliance

I'm a new addition to the gas pipeline legal group, having recently transferred from the EES legal department. Among other things, I'll be handling Northern Natural's compliance with the marketing affiliate rule.

An issue has come up with Northern as a result of the recent changes at Enron Corp.

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. We wanted to run this by both of you before proceeding further. We would appreciate your thoughts. Thanks.