At the request of Sara Shackleton, I am enclosing a redlined draft of the  guaranty.
Please let me (713/853-3399) or Sara (713/853-5620) know if this  change meets with your approval.
Further, I am in the process of drafting  the Enron Corp. Guaranty with respect to ECT Investments, Inc. and hope to  have it to you shortly.

Enron Corp. Guaranty