Dear all,

I'm deeply grateful to you all for your generous help and contribution to our 
project of having Japan's Nikkei Business magazine carry a "Enron 
Cover-Story" in its April 9th edition.

I received the magazine's April-9 issue today, and confirmed Enron was 
carried as a real cover-story with 16 pages in it. It uses 8 pages to cover 
Enron and Enron Japan, and uses another 8 pages to discuss other 
electricity-deregulation related topics in Japan. The deregulation-related 
parts also include stories which are very much supportive to Enron Japan's 
messages - such as Japan's electricity prices are 2-3 times higher than the 
international average.

The headline of "Enron Arrives" with Enron Logo is on the magazine's front 
page, and photos of Enron building and others that we provided are nicely 
used in the article. 

The article itself is more or less balanced one which is good enough to 
introduce Enron to the Japanese audience, though the reporter uses ironic 
expressions here and there. The article also includes a column on California 
crisis with the jump headline of "the cause of the California problem is not 
deregulation, but is miserable design of regulation."

Thanks to your contribution, I believe this project proved a great success, 
and the article will successfully raise Enron's visibility in Japan, while 
our commercial staff will be able to show this high-profile magazine to their 
potential customers and business partners. 

Thank you so much again for your time and help, and I will send you full 
translations of the article early next week.

I hereby attached some of scanned photocopies of the article.

warm regards,
Mika
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