After several very difficult weeks, Enron announced on Friday that the company has reached an agreement to merge with Dynegy.  

I know that everyone has many questions right now regarding the future of the Associate / Analyst Program.  We are working as quickly as possible with the business units and executive management to determine the future course of the Program.  As the merger points on the Enron homepage indicate (<http://home.enron.com/>), Dynegy has a similar program called "PACE", and the two companies will consider a combination of the two programs.  

Today, all of the business units within Enron will be holding floor meetings to discuss the pending merger and it's implications for Enron.  I encourage each of you to participate in one of these meetings.  

The announcement of the deal with Dynegy marks a significant event in removing some of the uncertainties we've all dealt with over the past several weeks.  As decisions are made regarding the future of the company and specific business units, we will be able to determine and communicate the future of the Program.

New opportunities will be created from the changes that are occurring.  The very best talent from both organizations will rise to the top, and our Associates and Analysts will be a key part of our future success.

I appreciate your continued efforts and patience during this difficult time.

Billy Lemmons
Vice President,  Associate / Analyst Program
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