Re: Steel Financial Swap Term Sheets

These look OK to me.

Andrew Wilson@ENRON
12/08/2000 11:11 AM

To: Mark Taylor/HOU/ECT@ECT
cc: Lou Stoler/HOU/ECT@ECT
Subject: Steel Financial Swap Term Sheets

Mark,

I have revised the financial swap term sheets that you reviewed several weeks
ago. Could you have a look at these new versions and see if they meet your
approval? They are for the Originators to use as a basis for their
discussions with potential counterparties and are not meant to be binding
documents. Thank you.

--Andrew