Re: Credit Derivatives

That is correct.

David Forster
02/25/2000 05:41 PM
To: Mark Taylor/HOU/ECT@ECT
cc: Frank L Davis/HOU/ECT@ECT, Amita Gosalia/LON/ECT@ECT, Bryan
Seyfried/LON/ECT@ECT
Subject: Re: Credit Derivatives

I assume this means that none of the 50 customers on the original Customer
Profile list for Credit Derivatives can be located in Canada or Germany . . .

Dave

To: David Forster/LON/ECT@ECT
cc:

Subject: Re: Credit Derivatives

There are still certain jurisdictions where we are not offering the product:
Germany and Canada come to mind.

David Forster
02/25/2000 04:10 PM
To: Mark Taylor/HOU/ECT@ECT
cc:
Subject: Credit Derivatives

Mark,

I recall at one time, we were concerned that Credit Derivatives could be
considered to be insurance, and therefore we would come under certain
regulations. I assume this was resolved to our satisfaction?

Dave