NGTS

Hello all,

Carol, I have sent to you copies of all confirmed deal activity currently
evidencing live deal activity. Let me know when I can discuss the below
agreement with NGTS, as they are currently shut down on EOL and telephonic
trading and the position continues to grow.

Thanks
Brant

---------------------- Forwarded by Brant Reves/HOU/ECT on 05/25/2000 03:37
PM ---------------------------
Carol St Clair 05/25/2000 03:04 PM

To: Sara Shackleton/HOU/ECT@ECT
cc: Brant Reves/HOU/ECT@ECT
Subject: NGTS

Brant and Sara:
Here is a very rough draft of a proposed letter agreement for NGTS. It
requires some work but hopefully it's a start. It cannot be finalized until
we see all of the physical and financial confirms and agreements and should
NOT be sent to NGTS until Sara and I are comfortable that it works.
Carol