Attached for signature is the form of Enron Corp. Guaranty in favor of the  referenced Counterparty, which guarantees the obligations of ENA under an  ISDA Master Agreement.
We will need two executed copies since both parties  have to execute the Guaranty.
This ISDA Master Agreement will supersede and  replace an existing Master Agreement with this Counterparty, and this Enron  Corp.Guaranty will supersede and replace the previous Enron Corp. Guaranty  dated as of March 4, 1994.
In addition, we will need the following closing documents:  Certificate of  Incumbency.
Upon approval and execution, please call me at x33399 to pick up the  documents.
Thank you for your assistance in this matter.

J. Aron & Company Guaranty