Goldman Sachs Internations - Terms Of Business Agreement ,
 Cassandra and Cheryl,.
 ECT Investments, Inc. has begun trading in the London office and executing 
through Goldman Sachs International.  The GSI Terms of Business Agreement is 
an addendum to the existing Goldman Sachs & Co.executing broker agreement.  
The agreement ensures that both parties understand that trades executed 
through London is governed by SFA regulations.

Thanks,
Theresa
cassandra.schultz@enron.com, cheryl.nelson@enron.com, 