Re: Profiles for Steel Physical Products ,
 Lisa,

I have a call into the physical steel lawyer.  We will not be able to copy =
an=20
existing profile for physical steel.  Physical steel is a totally new onlin=
e=20
product for us.  We, obviously, cannot copy financial steel, because=20
counterparties may be prohibited from trading it if they are not ESP's, if=
=20
their master doesn't let them trade steel, etc (the usual swap issues).  Wh=
at=20
I think my answer is going to be is that there is no legal reason why any=
=20
counterparty cannot trade physical steel, so I would open all counterpartie=
s=20
up to trade it.  I'm checking with the physical steel lawyers to confirm th=
is.

Just a note, Global Contracts should also not be able to copy a profile,=20
because they should have a totally new GTC dealing with physical steel issu=
es=20
specifically.  I'm sure Karen will probably copy me in on her email.  Just =
in=20
case...I want to confirm what Global Contracts is saying for this one...

I'll get back to you to confirm the above for Legal.



=09Lisa Lees
=0901/30/2001 10:02 AM
=09=09=20
=09=09 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT
=09=09 cc: Kelly Lombardi/NA/Enron@Enron, Tom Moran/HOU/ECT@ECT, Stephanie=
=20
Sever/HOU/ECT@ECT
=09=09 Subject: Profiles for Steel Physical Products

Tana/Karen:

The product long descriptions below will fall under the new product types U=
S=20
Steel Hot Rolled Physical.  Credit (Tom Moran) has approved copying the=20
profiles for the new product types from the following:

 US Steel Hot Rolled Fin Swap

Please respond no later than 10 a.m. on Wednesday, January 31.

Thank you.
---------------------- Forwarded by Lisa Lees/HOU/ECT on 01/30/2001 08:44 A=
M=20
---------------------------
  =20


From:  Melba Lozano                                                        =
  =20
  01/26/2001 05:19 PM=09
=09
=09
=09                          =20
=09

To: Bjorn Hagelmann/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Lisa=20
Lees/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT
cc: Robert B Cass/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT, Stephanie=20
Sever/HOU/ECT@ECT, Carl Carter/NA/Enron@Enron, Kevin=20
Meredith/Corp/Enron@ENRON=20
Subject: Steel Physical Products - approvals / profiles

I need approvals and customer profiles by Wednesday January 31 11:00 am.

Your review and approval of the following product type in the EOL Datamanag=
er=20
is needed (for directions on approval , please see steps for approval at th=
e=20
bottom of this e-mail).   =20

=20
US HR Steel Phy    12G 48W Chi A569    Feb-April 01   USD/NT m

A U.S Hot Rolled Steel Transaction with Enron North America Corp, under whi=
ch=20
the Seller shall deliver and the Buyer shall take and pay for the Quantity =
of=20
the Goods at the Contract Price. The Contract Price shall be the price=20
submitted by Counterparty via EnronOnline. =20
The term of the Transaction shall be from the Effective Date of 01 Feb 2001=
=20
to the Termination Date of 31 April 2001.=20
The Transaction is for hot rolled steel with a Thickness of 12 Gauge and a=
=20
Width of 48 inches.  The Goods shall be commercial quality, prime, hot roll=
ed=20
steel with specifications to ASTM A569 and tolerances to ASTM A568, unless=
=20
quality tolerances are outlined in Schedule 2 of the associated General Ter=
ms=20
and Conditions.  The transaction is F.O.B. Reserve Marine Terminal in=20
Chicago, Ill Metro Area.  The Quantity shall be Quantity submitted by=20
Counterparty via EnronOnline (5% greater or lesser allowance at Seller=01,s=
=20
option). Each calendar month during the term of the Transaction will be a=
=20
Dispatch Period.  Enron will guarantee delivery by the last day of each=20
scheduled Dispatch Period and accept supply to the 20th of each scheduled=
=20
Dispatch Period.  Payment shall be made, against the receipt of the require=
d=20
documents outlined in the General Terms and Conditions, in the Contractual=
=20
Currency by telegraphic transfer no later than 30 calendar days after the=
=20
date on which the Goods are released to Buyer. =20
The price is quoted in dollars (US) per unit of measure, which shall be the=
=20
Contractual Currency. The unit of measure against which the price is quoted=
=20
shall be net tons (2000 lbs) and the quantity shown shall be in net tons pe=
r=20
month.=20



US HR Steel Phy   5/16 48W ChiA635   Feb-April 01   USD/NT m

A U.S Hot Rolled Steel Transaction with Enron North America Corp, under whi=
ch=20
the Seller shall deliver and the Buyer shall take and pay for the Quantity =
of=20
the Goods at the Contract Price. The Contract Price shall be the price=20
submitted by Counterparty via EnronOnline. =20
The term of the Transaction shall be from the Effective Date of 01 Feb 2001=
=20
to the Termination Date of 31 April 2001.=20
The Transaction is for hot rolled steel with a Thickness of 5/16=018 and a =
Width=20
of 48 inches.  The Goods shall be commercial quality, prime, hot rolled ste=
el=20
with specifications and tolerances to ASTM A635, unless quality tolerances=
=20
are outlined in Schedule 2 of the associated General Terms and Conditions. =
=20
The transaction is F.O.B. Reserve Marine Terminal in Chicago, Ill Metro=20
Area.  The Quantity shall be Quantity submitted by Counterparty via=20
EnronOnline (5% greater or lesser allowance at Seller=01,s optionEach calen=
dar=20
month during the term of the Transaction will be a Dispatch Period.  Enron=
=20
will guarantee delivery by the last day of each scheduled Dispatch Period a=
nd=20
accept supply to the 20th of each scheduled Dispatch Period.  Payment shall=
=20
be made, against the receipt of the required documents outlined in the=20
General Terms and Conditions, in the Contractual Currency by telegraphic=20
transfer no later than 30 calendar days after the date on which the Goods a=
re=20
released to Buyer. =20
The price is quoted in dollars (US) per unit of measure, which shall be the=
=20
Contractual Currency. The unit of measure against which the price is quoted=
=20
shall be net tons (2000 lbs) and the quantity shown shall be in net tons pe=
r=20
month.=20

=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D
=3D=3D=3D=3D=3D

STEPS FOR APPROVAL:

click the  START button=20
select  PROGRAMS
select  TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
 PROCEED WITH USUAL LOGIN/PASSWORD=20
click the Enron Online Production Cluster "START" button =20
select EnronOnLine (this is the EOL Datamanager)
 PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR  "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up=20
TO APPROVE:  Right mouse click on "Approved"
 =20
Thanks - Rob Cass  -  Melba Lozano
x35491   x58986

---------------------- Forwarded by Melba Lozano/HOU/ECT on 01/26/2001 05:0=
6=20
PM ---------------------------


Carl Carter@ENRON
01/25/2001 05:53 PM
To: Robert B Cass/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Kevin=20
Meredith/Corp/Enron@ENRON, Lisa Lees/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT,=
=20
Stephanie Sever/HOU/ECT@ECT
cc: David Forster/Corp/Enron@Enron, Naveed Ahmed/NA/Enron@Enron, Sean=20
Keenan/HOU/ECT@ECT, Jason Althaus/Corp/Enron@Enron=20
Subject: Steel Long Descriptions - Physical Products

We plan on putting two new Physical Steel product types into Production=20
sometime next week. Jason Althaus already has the GT&Cs and will prepare th=
em=20
for upload when the product types are available.
Included are final versions of the two short and long product descriptions.=
=20
Also included are spreadsheets detailing the location and quality=20
combinations that will initially be shown on the Website.
Let me know if you have any questions.
Carl
lisa.lees@enron.com