Martin's note below addresses our efforts to put ISDAs in place for Nordic
trading. It looks like we're making some progress, particularly with Morgan
Stanley.
---------------------- Forwarded by Scott Sefton/LON/ECT on 15/05/99 12:31
---------------------------

Martin Rosell
14/05/99 16:18
To: Scott Sefton/LON/ECT@ECT
cc:
Subject:

FYI, Wednesday morning this week I met with two in-house attorneys at Eastern
Electricity in Ipswich and, in the afternoon, with about half a dozen people
at Morgan Stanley in the company's offices in Canary Wharf. The principal
purpose of these meetings were to discuss the Nordic documentation project
and related issues. Both companies appear to be very supportive of the
initiative taken. On the point of ISDA, I didn't spot any overwhelming
enthusiasm from the Eastern attorneys to trade Nordic power with us on the
back of the ISDA Master (although they didn't reject to the idea), but MS is
very keen on doing this why that company should be the next in line
following Vattenfall.

It's been a bit tight around here today why we should rather have the
conversation a mentioned yesterday sometime next week.

Martin