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---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 10/23/2000 09:23 AM --------------------------- Enron Capital & Trade Resources Corp. - Europe From: Robert Brewis 10/23/2000 08:51 AM To: John.L.Nowlan@enron.com cc: Jeffrey A Shankman/HOU/ECT@ECT Subject: New Product Launch / Market Update Petrochemical Financials John We are pleased to confirm today's launch of the following products via EOL: Ethylene Contract (NW Europe) Propylene Contract (NW Europe) HD Polyethylene (German Film) Polypropylene (German Inj) Polystyrene (German General Purpose) In a 2nd roll-out (timing TBC) we are looking to add: PVC (German Pipe) LD Polyethylene (German Film) LLD Polyethylene (German C4) We are initially offering 6 month and 12 month swaps for each product. SUMMATION OF EUROPEAN MKT - market is very conservative and tunnel-visioned, with derivatives as very new concept to all players (case of tail trying to wag the dog) - even though no OTC trades have been done we are looking for the launch to act as a magnet for potential counterparties to at least start looking at our numbers on a regular basis (personalised letters + PR in industry mags is underway). - Shell / BP are talking of launching similar platform 2001, but Enron only company aggressively marketing in Europe (look at http://www.eyeforchemicals.com/chem/presentations/hurley.pdf for Shell perspective). - Enron brand is not known to converters/consumers - profile awareness / promotion is continuous process. - 6mo and 12mo prices are offered, as shorter term we are exposed due to the fact we are not in physical mkt. - spreads are reasonably aggressive, but for hedging purposes all products show close correlation to each other and US equivalents. regards Rob Brewis
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