Re: American Central Energy- ISDA ,
 Russell:
I will draft something up later today for you  to look at.  With respect to 
Richardson Products, the July 29, 1999 Guaranty in the second paragraph 
already picks up all ECT affiliates which would include HPL, such that any 
physical contract between ECT or its affiliates and Richardson Products II, 
Ltd. would already be covered.  Their letter mentions an April 28th 
Guaranty.  Does one exist?

Why I don't think that we need to say anything with respect to the July 29th 
Guaranty, it certainly wouldn't hurt for them to simply send us a letter 
referencing this Guaranty and stating that it is their understanding that the 
term "ECT Affiliates" as used in the Guaranty  includes Houston Pipe Line 
Company.

Carol
russell.diamond@enron.com