Enron Corp. Guarantee for CP&L ,
 Clem:
North Carolina Power Holdings, LLC is a wholly owned sub of ENA and owns some 
power plants in NC.  On March 26, 2001, NCPH sold a daily call option for May 
through Dec 2001 to Carolina Power & Light Co. in March, and promised to 
deliver an Enron Corp. guarantee.  But it hasn't been delivered yet, and the 
counterparty has asked about its status.  The guarantee is attached -- 
standard form, describing the transaction.  Would you please date it and have 
it executed early week of May 7 and have it delivered to Genia Fitzgerald for 
delivery to the counterparty (Genia, the file is on your chair -- Paul Radous 
has been in touch w/ CP&L on this recently).  If you have any questions, 
please call Steve Van Hooser ( EB3877, ext. 37238).  Thanks so much -- hope 
to be in touch soon.

Regards,
Janice

EB3861
Assistant General Counsel, Enron North America Corp.
713-853-1794 (Fax:  713-646-4842)
clement.abrams@enron.com