We have received the following executed Master Agreement:  Type of Contract: ISDA Master Agreement (Multicurrency-Cross Border)  Effective Date:  December 29, 2000  Enron Entity:  Enron North America Corp.  Counterparty:  Deutsche Bank AG  Transactions Covered: Approved for all products, including FX             Confirming Entity: Deutsche Bank AG  Calculation Agent: Deutsche Bank AG  Governing Law:  New York  Approved Branches For Deutsche Bank:  Brussels, Frankfurt, London, New York, Paris, Singapore,  Sydney, Tokyo  Agency Relationship: Deutsche Bank AG may act as Agent for Deutsche Bank  Securities, if  they are specified as acting in such agency capacity in a  Confirmation.
PAYMENT NETTING:   Cross transaction payment netting only applies to  Commodity Transactions.
There is no payment netting for non-commodity  transactions.

Deutsche Bank AG
We have received the following executed Master Agreement: Type of Contract: ISDA Master Agreement (Multicurrency-Cross Border) Effective Date: December <NUMBER>, <NUMBER> <COMPANY> Entity: <COMPANY> North America Corp. Counterparty: Deutsche Bank AG Transactions Covered: Approved for all products, including FX Confirming Entity: Deutsche Bank AG Calculation Agent: Deutsche Bank AG Governing Law: New York Approved Branches For Deutsche Bank: Brussels, Frankfurt, London, New York, Paris, Singapore, Sydney, Tokyo Agency Relationship: Deutsche Bank AG may act as Agent for Deutsche Bank Securities, if they are specified as acting in such agency capacity in a Confirmation.
PAYMENT NETTING: Cross transaction payment netting only applies to Commodity Transactions.
There is no payment netting for non-commodity transactions.
specified acting frankfurt london new multicurrency cross border effective date december isda master agreement relationship entity deutsche bank branches ag calculation