Re: swaps ,
 1.  If we have a US counterparty we insert the appropriate choice. =20

2.  Revisions to the CFTC Rules have done away with the  "Eligible Swap=20
Participant"  rules for energy commodities (they would still apply to=20
agricultural products).  The rules are still pretty similar however, and th=
e=20
current lingo is now "Eligible Contract Participants".  See our revised for=
m,=20
attached.





=09Karen A Cordova@EES
=0904/04/2001 04:33 PM
=09=09=20
=09=09 To: Tana Jones/HOU/ECT@ECT
=09=09 cc: Marianne Castano/HOU/EES@EES
=09=09 Subject: swaps

Hi Tana --

I have a couple of questions concerning swaps that I hope you can answer. =
=20

1. With respect to Part 2.  Tax Representations. to the Schedule, is it=20
standard to insert into the Schedule the information from Form #3 when=20
dealing with a U.S. Counterparty?

2. Part 5.  Other Provisions.  Is the following point the most current and=
=20
also a standard provision in the Schedule when dealing with a U.S.=20
Counterparty?
(h) Eligible Swap Participant.  It constitutes an =01&eligible swap partici=
pant=018=20
as such term is defined in Rule 35.1(b)(2) of the Commodity Futures Trading=
=20
Commission, 17 C.F.R. o 35.1(b)(2) (1993).

Thanks alot for your continued support of EES Legal.  Thanks Karen
karen.cordova@enron.com