Con Ed of NY ,
 Ed,

Please review the attached revised confirm for Con Ed.  The revision is to 
the Exposure Threshold/Credit Ratings on page 1 of Annex B-1.  As ENA does 
not have a credit rating above BBB+, we have inserted $20 mil. (the BBB+ 
threshold) for those ratings above BBB+.

Please contact either Sara or myself.

Thanks,
Stephanie




Sara - I spoke to Clement about the revised guaranty and have emailed him 
clean and blacklined copies.
edward.sacks@enron.com