Another article from the competitive intelligence group.

Jeff
----- Forwarded by Jeffrey A Shankman/HOU/ECT on 02/09/2001 12:55 PM -----

	Robert Johnston
	02/09/2001 12:50 PM

		 To: Jeff Kinneman/HOU/ECT@ECT
		 cc: Paul Pizzolato/HOU/ECT@ECT, Seung-Taek Oh/NA/Enron@ENRON, Brendan
Fitzsimmons/NA/Enron@Enron, Gary Hickerson/HOU/ECT@ECT, Darren
Delage/AP/Enron@Enron, Kimberly Landry/NA/Enron@Enron, Scott
Tholan/Corp/Enron@Enron, Jeffrey A Shankman/HOU/ECT@ECT
		 Subject: Asian Credit Watch- AP & P

Per our conversations with most of you this week, Brendan and I have
developed the following information on Asian Pulp & Paper and its potential
to trigger widescale credit problems in Asia.  In the past week, APP has come
close to default through complex trigger clauses in a mass of junk bond
issues. Prospects of an APP default have already sent tremors through the
Asian bond market and could have larger implications for emerging market
debt. This week, the Indonesian government further complicated the picture by
attaching assets of the Sinar Mas group, including APP, to guarantees of
Sinar Mas group,s $1.5 billion debt to Bank Internasional Indonesia (BII),
Indonesia,s fifth largest bank and formerly part of a Sinar Mas group.  The
Wijaya family is likely to postpone payments until the last possible minute,
before seeking a workout and corporate restructuring.

RJ

The Immediate Problem

o $1.6 billion in bonds are due in 2001, on top of $1.5 billion owed to the
Indonesian government through the Sinar Mas group
o Between now and April 30, the APP group must come up with $145 million for
nine separate coupon payments coming due. APP itself will owe $87 million in
interest payments on four bonds over the next month
o APP missed a February 1 deadline for two bond payments of $43 million; one
payment has been made but the other, of $13.5 million, is still hanging

Risks are formidable, with management playing a cat and mouse game with bond
holders in order to maximize their negotiating position in a restructuring:

o Assets are encumbered by complex cross-guarantees that make it difficult to
impossible to separate out individual properties
o The New York Stock Exchange has threatened a de-listing unless APP stock
rises above the US$1 level; de-listing will trigger immediate redemption
clauses in some classes of bonds
o The company,s Indonesian assets are diseased. Despite APP,s apparently
sound business model, it is being corrupted by crime that is systemic within
the Indonesian forestry and forest products industry
o Inventory dumping by APP, particularly in China, has been a major factor
depressing paper prices since mid-2000
o APP,s management has failed to offer transparent explanations for their
cash shortages. It has not reported third quarter earnings for 2000, due last
November, to the US Securities and Exchange Commission (although, as a
foreign company it has six months to report earnings, versus one month for US
companies). Inter-company transfers may be masking serious problems within
the APP group.
o Indonesian political instability is worsening with the threatened
impeachment of Indonesia,s President Wahid, lowering prospects for a
government bailout of APP,s parent company, the Sinar Mas group, and its
owners, the Wijaya family.
o There are clear prospects for collateral damage to Asian capital markets,
with S&P already cutting ratings and a consequent shrinkage of liquidity.

APP Risk Profile:

APP,s only immediate hope of meeting its debt payments is through asset sales
or a sell-off of pulp and paper inventory. Neither has much chance of
success. APP,s current strategy is to muscle its bond-holders into a
restructuring agreement as soon as possible, most likely before an early
March deadline for its next coupon payment falls due. There are significant
obstacles to evaluation of assets in a restructuring, from cross-guarantees
of bond issues that range across classes of bond holders and various
jurisdictions, to inter-company transfers that present a false picture of
financial health in some of its operating companies. Such obstacles ensure
that a restructuring exercise will be lengthy. APP is the fifth largest
issuer of junk bonds in the world, and has been regarded as a benchmark bond
for Indonesia. Until the last few months, it was the only bond in the world
that traded at a premium to its own government,s bonds, and was the only
Indonesian issuer to raise funds successfully from capital markets in the
depth of the Asian crisis. A pronounced ripple effect is likely on Asian
bonds in the event of a default, as investors wait to see what happens to
unsecured creditors who account for 40 percent to 50 percent of APP,s US$12
billion in debt. At the moment, systemic fallout seems likely to be limited
to the Asian region, as investors revert to the hostile stance adopted during
the Asian financial crisis.

APP Key Decision Makers:

The key decision makers at APP are CFO Hendrik Tse and CEO Teguh Ganda
Wijaya. No others in the company are privy to all the Group,s Affairs, or to
corporate strategy. Information is extremely closely held. Sources say that
the APP situation is so complex that no one individual has a comprehensive
understanding of all the potential ramifications of a decision on any one of
the assets of APP or its subsidiaries, so complex are the cross guarantees
and trigger clauses in the debt paper issued over the last few years.

Tee and Teguh Wijaya are to a large extent playing a bluff game, engaging in
brinkmanship with their bond holders. It signaled the market that it could
move into a default situation on February 1 when its paper making subsidiary,
Pabrik Kertas Tjiwi Kimiah, failed to make payments on two different bond
issues worth $43 million. On February 6, APP finally paid the coupon on one
of the bonds, a US$600 million note issued by Tjiwi Kimia Finance Mauritius,
just within a grace period of five business days. If Tjiwi Kimia had failed
to meet the deadline, it would have triggered cross default clauses on a
series of other bonds. The second coupon payment, of $13.5 million, for a
US$200 million issue of guaranteed senior notes due in 2001, is now late. We
expect APP to wait until the last possible moment to make the payment. The
group is husbanding its cash in advance of an expected restructuring. The
better its cash position is, the more APP will be able to operate from a
position of strength in a restructuring negotiation.

According to one source: APP is &signaling the market and its bond holders
that it is in their best interest to help with a restructuring before
everything collapse. The idea is to squeeze the bondholders now, while they
still have some negotiating leverage rather than wait until there is nothing
left.8 APP is trying to play off one set of bond holders against another
because the interests of the bond holders in the operating companies, some of
which have significant cash flow, is different from those in the parent. This
is obviously a dangerous game, but one in which APP feels it has no choice
but to engage. The earlier it can restructure the better of it will be, and
the greater its chances of survival in some form. Trying to keep control of
the situation so that it doesn,t unravel is the name of the game at this
point. Tee and Widjaja are thinking quite far ahead and have targeted their
non-core subsidiaries for disposal in a debt restructuring. They have been
actively shopping their China assets for several months, and sources indicate
that their packaging assets will also go on the block. APP is still hopeful,
however, of engineering a debt restructuring so that it is on their terms.

One of the issues that adds greatly to the complexity of the situation is
that much of the sales from both companies come from within the group, and
often these go via another APP company or Sinar Mas. Another source said,
&This is a vertically integrated group and one of the worries is that if you
start messing with the structure, let,s say one group of bond holders wants
to wind up one of the subsidiaries that is a primary customer, you could
threaten the whole group.8

The Wijayas are well regarded by foreign investors, and are not in the
category of Suharto cronies such as forestry magnate Bob Hassan, who was
sentenced this past week to two years in jail for financial wrongdoings and
corruption. They are not saints ) the Indonesian government removed the
Wijayas from the board of Bank Internasional Indonesia after it was
nationalized in 1999, based on evidence that they exceeded the 30 percent cap
for lending to affiliates. However, they depend heavily on international
capital markets for funding and cannot afford significant steps that would
bar future access. At the moment, they have few alternatives to raise cash to
meet their debt payments other than through asset and inventory sales. The
company has built up substantial paper inventory, and according to one
source, it could use inventory sales to meet current cash obligations if it
could find a buyer. This is a big if, however, since current prices are
depressed and releasing further inventory to the market would only make
matters worse.

Asset Sales and Other Alternatives to Meet Debt Repayments:

An executive from a major international pulp and paper company confirmed that
APP was actively trying to sell its Chinese assets.  These assets include:

o PT Ekamas Fortuna
o PT Purinusa Ekapersada
o Ningbo Zhonghua Paper
o Gold Hongye Paper
o Gold Hai Paper (Kunshan) Co.
o Jin Yu (Qingyuan) Tissue Paper Industry

The executive said that his company had looked at attractive parts of the
assets on offer, but had held back because of the impenetrable cross
guarantees between companies and reluctance of their bankers to finance an
acquisition at a discount that would offer no cover for their equity. The
executive believed that all the banks would have to agree to asset sales in
the context of a general restructuring before any individual bank would
finance an acquisition. Yet another issue is that the financing of the China
factories was based on access to Indonesian pulp at intra-company prices.
Once the company is broken up into pieces, it will have to rely on the world
market and will no longer be able to produce at a profit.

Stora Enso made a formal bid for the assets last year but was rejected. It is
said to remain interested although the price it is willing to pay will be
considerably less. One of the problems with APP,s brinkmanship strategy is
that it is lowering the value of its assets. Companies will not be willing to
pay book value when it comes time for the company to sell off its non-core
assets.

Restructuring is imminent, creating opportunities for investors:

o A restructuring of the company in the near term seems inevitable and will
produce returns for existing bond holders if they bought at low enough prices
and if their debt is secured by APP assets outside Indonesia
o A restructuring will release some of APP,s assets, which are considered
attractive except for those in Indonesia. APP is the world,s low cost
producer of pulp and paper, with substantial assets in Indonesia, China, and
India. Its Chinese factories are attractive despite current over-capacity in
the domestic Chinese market. APP accounts for 20 percent of the Chinese
market for printing and fine paper.
o Some play is available from price volatility as APP continues to tease
investors by keeping them guessing about its actual cash situation


Per my conv. w/Sandy Steffen w/the referenced counterparty (ph:
734/887--2048, fax: 734/887-2056):
POWER:  It appears they would like to trade many of the East Coast power
contracts.  She isn't sure whether the Purchase and Sale Agreement they have
in place with us would cover East Coast power, and whether it would cover
firm and non-firm power.  Also, she was wondering whether we trade power
transmission (I had no idea, silly me).  Further, even if we have a master in
place with them, I don't know whether we would want to transact under it or
under a GTC.  My records show they have come thru before through EOL and
Legal shut down for power (Credit has them open).
EMISSIONS:  They would also like to transact SO2, and want to get a master in
place with  us.  I told her I would have one of the emissions lawyers talk to
her (they are already open w/Legal & Credit to trade emissions).
MASTER USER CHANGE:  She already has a password set up with us and would like
to change the master user.


Attached is the latest summary of regulatory filings.  Please let me know if
you no longer want this report or if you want to add someone to the
distribution.  For those of you who are receiving this for the first time, it
is a summary of all pipeline related filings with FERC that may have an
effect on your business.


Kay:

Here are my comments to the Opinion of Counsel for Salmon Energy.

Kent

 <<Opinion of Counsel.doc>>

 - Opinion of Counsel.doc


Soft money giving statistics (2000):

Federal PAC giving statistics (1999-7/00):
Republicans:  67%  Democrats:  33%
Committee members:  47%
Leadership PACs:    8%
Parties:     39%
Other PACs:     3%

States:
PAC giving breakdown:  Republicans:  77%  Democrats:  23%
More information on party control to follow.

Excerpt from Lobbying Working Group documentation regarding contributions:

Recommended Guidelines for Choosing Recipients of Political Contributions*

1. Key Decision-Makers
? Leadership
? Committee Members
? Jurisdiction (Generally, only state-level office holders)

2. Pro-Business

3. Receptive to Key Enron Issues

4. Risk Management

5. Hedge our Bets

6. Timing: Primaries vs. General Elections

7. Identify Opportunities for Giving to Other PACs

*Note:  These guidelines are intended to apply both to PAC and Corporate
funds.
---------------------- Forwarded by Elizabeth Linnell/HOU/EES on 08/09/2000
06:25 PM ---------------------------

Melinda McCarty@ENRON
08/03/2000 03:28 PM
To: Steven J Kean/HOU/EES@EES, Richard Shapiro/HOU/EES@EES, James D
Steffes/HOU/EES@EES, Cynthia Sandherr/Corp/Enron@ENRON, Elizabeth
Labanowski/EPSC/HOU/ECT@ECT, Sandra McCubbin/SFO/EES@EES, Barbara A
Hueter/DUB/EES@EES, Elizabeth Linnell/HOU/EES@EES
cc: Maureen McVicker/HOU/EES@EES, Ginger Dernehl/HOU/EES@EES, Marcia A
Linton/HOU/EES@EES, Betsy Raybon/EPSC/HOU/ECT@ECT, Allison
Navin/Corp/Enron@ENRON, Laurie Knight/DUB/EES@EES, Joseph Alamo/SFO/EES@EES
Subject: Political Contribution Strategies Mtg

This meeting has been set for Thursday, August 10 @ 10:00 (Central Time) in
Team room 4795.  Dial in number
1-800-991-9019 Pass code 6608281.

Participants

Steve Kean
Rick Shapiro
Jim Steffes
Elizabeth Labanowski
Elizabeth Linnell
Cynthia Sandherr
Sandi McCubbin
Barbara Hueter

Thanks,
melinda
x31641


Dave Delaney has asked that we accelerate our look at space alternatives in
Mexico City.  If you assume that you and Jaime and (perhaps) one person from
EBS remain there, what do you think the cost is (or when can you let me
know)?


----- Forwarded by Tana Jones/HOU/ECT on 08/30/2000 04:17 PM -----

	Bradley Diebner
	08/30/2000 04:12 PM

		 To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT,
Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli
Campbell/HOU/ECT@ECT, Molly Harris/HOU/ECT@ECT, Cynthia
Clark/Corp/Enron@ENRON, Mary G Gosnell/HOU/ECT@ECT, Enron Europe Global
Contracts and Facilities, Enron Europe Global CounterParty, Stephanie
Sever/HOU/ECT@ECT, Bradley Diebner/HOU/ECT@ECT, Stacey
Richardson/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Adnan Patel/Corp/Enron@ENRON,
Claudia Clark/HOU/ECT@ECT
		 cc:
		 Subject: EOL Credit Responses 08/30/00

The EOL approvals for 08/30/00 are attached below.

Regards,
bd


Attached is the link that will allow you access to referenced database.
Please note, that we have just upgraded the database to add the ISDA
definitions, branch offices approved for trading, and market disruption
provisions.  This information should be inputted for the new master swap
agreements on a going forward basis, but we still need to go back and
repopulate the data for the existing master swap agreements.

Also, FYI, the "See" drop down is our nickname for the name changes and
mergers reference.  If an item is filled in for that entity it should show
you any prior or new names for the counterparty.

If there is anyone else who would like the link, please let me know and I
will forward it to them.

We hope you find the information provided in this database helpful.

Link -->

	Limor Nissan@MGUSA
	01/04/2001 02:03 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Financial Trading Agreements - db link

Tana,

Would it be possible for you to forward this database link to me?  (Craig
tried to, and it didn't work).  Also, is there a way for me to get it so it
automatically updates?

Thanks,

Limor

Enron Metals & Commodity Corp.
520 Madison Avenue
New York, NY 10022
Tel: 212-715-5283
Fax: 212-715-5608
Email: Limor.Nissan@Enron.com
----- Forwarded by Limor Nissan/NYC/MGUSA on 01/04/01 03:15 PM -----

	Craig Young@ECT
	01/04/01 02:32 PM

		 To: Limor Nissan/NYC/MGUSA@MGUSA
		 cc:
		 Subject: Financial Trading Agreements - db link

---------------------- Forwarded by Craig Young/NY/ECT on 01/04/2001 01:28 PM
---------------------------
From: Tana Jones on 10/31/2000 01:23 PM
To: Craig Young/NY/ECT@ECT
cc:
Subject: Financial Trading Agreements - db link

----- Forwarded by Tana Jones/HOU/ECT on 10/31/2000 01:22 PM -----

	Michael Neves
	05/10/2000 01:12 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Financial Trading Agreements - db link

Click on the following  link to add the 'Financial Trading Agreements'
database to your Notes Workspace:

Link -->


Please make note that any carryover vacation will not be seen until Monday
1/22/01

-Ina
---------------------- Forwarded by Ina Rangel/HOU/ECT on 01/19/2001 08:13 AM
---------------------------

	Enron North America Corp.

	From:  Corporate Payroll @ ENRON                           01/18/2001 11:22 PM

Sent by: Enron Announcements@ENRON
To: All Eligible Enron Employees United States
cc:
Subject: Vacation Carryover

Want to verify your vacation carryover?  Beginning January 22, 2001, all
eligible Enron employees will be able to access the hours of vacation that
were carried over from the previous year by going to the eHRonline website.

1. Navigate to the eHRonline website:  http://ehronline.enron.com.
2. Read the disclaimer; click Accept.
3. Enter your User ID and Password; click Logon.
4. Select Time Management from the menu at the left.
5. Select Vacation Information from the drop-down menu.

To see all types of vacation (accrual, lump sum, vacation), click the radio
button for "All types."
Click Display.

To see specific types of vacation (accrual, lump sum, vacation), click the
radio button below "All types" and make your selection from the drop-down
menu.

Click Display.

Click Exit to log off.

The system will default to show all types of vacation, including (if
available) Vacation-(Accrual) or Vacation-(Lump Sum) or Vacation.  The
carryover amount will be displayed next to the Type: "Vacation" under the
"Entitlement" column.

Enron policy states that employees are entitled to a maximum of 40 hours of
vacation carryover without supervisor approval.  Hours in excess of 40 hours
are subject to supervisor approval and will be updated once supervisor
approval has been received

If you have questions regarding your vacation, please call the payroll
hotline at 713.345.5555.


Stinson,

We can  offer him a job. The problem is, he has about 2 more years to go.

Vince

Stinson Gibner
07/26/2000 04:12 PM
To: Shelly Butler/HOU/ECT@ENRON
cc: Vince J Kaminski/HOU/ECT@ECT, Zimin Lu/HOU/ECT@ECT
Subject: Re: Evaluation for Summer Associate

Shelley,

One question.   For the summer associates who we would be interested in as
permanent hires, how do we proceed?    Is there a way of communicating to
them that we have an intention of extending an offer?   Cantekin Dincerler
would be one person who would be an excellent addition to our group.   He is
debating about going to industry or trying to find an academic position after
he finishes his Ph.D.      Giving him some incentive to seriously consider
Enron now might have an effect on his plans for next year.

Regards,

Stinson


FYI
 -----Original Message-----
From: 	Walls Jr., Rob
Sent:	Wednesday, October 24, 2001 10:04 AM
To:	Hayslett, Rod
Subject:	FW: Moving Tonight

Rod -

In planning office space for the EGS legal group, please hold a space for Paulette Obrecht.  She has served in a number of roles in the legal department over the years but would be invaluable in keeping us, er, me, organized.  She is presently on the Corp. payroll.  Let me know if you have any questions or need any other information.  Thanks.

Rob

 -----Original Message-----
From: 	Obrecht, Paulette
Sent:	Wednesday, October 24, 2001 8:38 AM
To:	Walls Jr., Rob
Cc:	Hicks, Debra
Subject:	Moving Tonight

I am moving to the 3AC2092 with Bruce Lundstrom's group but will keep my same phone extension. They will be moving to the "old" Azurix floors in another three weeks, and I plan to move with them. I hope this meets with your approval. They are literally taking the furniture apart on the 19th floor and dismantling the entire office.

Paulette


Here is the Reuters agreement that will be discussed tomorrow morning.

Thank you in advance for reviewing this so quickly.

Dave

---------------------- Forwarded by Dave Samuels/HOU/ECT on 04/18/2000 12:38
PM ---------------------------

Stanford Lin <stanford.lin@reuters.com> on 04/18/2000 12:33:30 PM
To: dave.samuels@enron.com
cc: Lynne Carithers <lynne.carithers@reuters.com>, Steve Pickett
<stephen.pickett@reuters.com>, Phil Lynch <phil.lynch@reuters.com>,
Doug.taylor@reuters.com, James Garland <James.Garland@reuters.com>
Subject: Enrononline.com/Reuters Agreement

Dave:

Attached for your review is the revised Terms & Conditions to the Reuters
Internet Services Agreement.  The agreement is redlined to reflect the text
inserted as a result of the revised transaction (i.e., inclusion of paid news
and quotes).  Lynne and I are preparing the revised order forms for the news
and
quotes, which will include the relevant pricing and billing information.

(See attached file: Enron-Investor-T&C.dot)
Regards,

Stanford Lin
Senior Legal Counsel

-----------------------------------------------------------------
        Visit our Internet site at http://www.reuters.com

Any views expressed in this message are those of  the  individual
sender,  except  where  the sender specifically states them to be
the views of Reuters Ltd.
 - Enron-Investor-T&C.dot


I am currently reviewing their agreement.    I will let you know something
this afternoon or early tomorrow.

Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490


It looks great, Nadine. I entered a couple different deals and played around
with them a bit, and I don't see any changes. So from my end you can go ahead
and move this version to production.

Thanks for all the hard work.

Kate

From: Nadine Costanzo@ENRON on 01/12/2001 02:46 PM CST
To: Kim S Theriot/HOU/ECT@ECT, Corry Bentley/HOU/ECT@ECT, Stacey W
White/HOU/ECT@ECT, Kate Symes/PDX/ECT@ECT
cc: Duong Luu/HOU/ECT@ECT, Kroum Kroumov/Corp/Enron@ENRON, Laura
Aldis/NA/Enron@ENRON

Subject: Deal Entry:  New Version

Hi Everyone,

There is a new version of Deal Entry (Ver. 2.6.6.58)  in stage that needs to
be User Acceptance Tested.

The changes were actually for Australia (wrong date/time showing, problem
with EOL) and London (fix to default settings).
These changes should actually be invisible to Houston so you should see no
difference between the way it was working before and now.

Please test the application (as you would normally use it) and let me know
(by way of email or phone call) if Deal Entry is working well, and can be
migrated to Production.  We are hoping to release it to Prod by this evening,
(January 12, 2001).

Thanks,
Nadine Costanzo (713)853-9863.
.


All of the leads are in a PRC meeting today...do you think that means we
don't need to do our accomplishments?


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Steve:  FYI.  Don't worry about the conference call, but thought it might be
useful to review the proposals prior to Monday's meeting.

See you Monday.

Happy Thanksgiving to all.

Best,
Jeff

******************************************************************************
**************************************

Several IEP companies have been invited to a meeting with the Governor,s
staff next Monday, November 27th.
The following are some options, which the Governor,s office is considering.
IEP is doing some preliminary research on some of these topics.  IEP would
like to arrange a teleconference call around noon on Monday, November 27th to
discuss the Governor,s meeting.  Please advise us as to whether your have
been invited, and who you are sending.
California,s electricity supply situation has two inter-related problems )
(1) high wholesale electricity costs, and (2) marginally adequate supply of
generation ) both have combined to create a dysfunctional wholesale
electricity market.  The goals should be:
 To assure reliable electricity to California consumers for the lowest
reasonable cost.
o Consider requiring that all in-state generation be sold in state.
o Consider re-asserting state authority over the operation, maintenance and
safety practices of all in-state generating facilities, for public health and
safety purposes.
o Consider developing a state power authority to build generation and
own/operate transmission.
o Consider requiring utilities both to retain existing and to build new
generation.
o Consider providing utilities with authority to stabilize retail prices to
be paid by consumers through development of an energy portfolio that reduces
exposure to spot markets, including contracting forward for much more of
their unmet power needs.
o Consider extending consumer rate freeze.
o Consider centralizing power plant dispatch like the other ISOs in the rest
of the country.
o Consider eliminating the ISO and assigning its functions to either a state
or private entity that can acquire the transmission facilities, and control
the electricity transmission grid (MUNIs have proposed this).
o Consider sponsoring/supporting legislation to change the ISO and PX boards
to increase accountability.
o Expand energy conservation programs focused both on immediate peak demand
reduction and on longer term, broader-based programs.
o Aggressively work to site new generation and transmission facilities, to
streamline permitting, and to develop renewable resources.
o Call for/sponsor federal FERC reform legislation that would:
o Impose a regional price cap that varies by time of day and year;
o Set requirements for FERC to use its retroactive refund authority;
o Improve FERC enforcement over price gouging practices;
o Affirm the role of states to protect their customers from unjust prices.
o Pressure the FERC to do its job to (1) bring about responsible seller
behavior in wholesale electric markets through price controls and other
market interventions as necessary, and (2) provide refunds to affected
consumers.
----- Forwarded by Jeff Dasovich/NA/Enron on 11/22/2000 03:44 PM -----

	Susan J Mara
	11/22/2000 03:05 PM

		 To: "CHUDSON" <carol@iepa.com>
		 cc: "Andy Brown \(E-mail\)" <abb@eslawfirm.com>, chudson@iepa.com, "Curtis
Kebler \(E-mail\)" <curtis_l_kebler@reliantenergy.com>, "Delaney Hunter
\(E-mail\)" <dhunter@smithandkempton.com>, "Greg Blue \(E-mail\)"
<gtbl@dynegy.com>, "Jack Pigott \(E-mail\)" <jackp@calpine.com>, "Jeff
Dasovich \(E-mail\)" <jdasovic@enron.com>, "Joe Ronan \(E-mail\)"
<joer@calpine.com>, "John Stout \(E-mail\)" <John_H_Stout@reliantenergy.com>,
jparker@HMOT.com, "Katie Kaplan \(E-mail\)" <kaplan@iepa.com>,
kelly@hnks.com, "Kelly Norton \(E-mail\)" <knorton@mcnallytemple.com>, "Lynn
Lednicky \(E-mail\)" <lale@dynegy.com>, marie_moretti@msn.com,
mrmonagan@aol.com, "Bob Weisenmiller \(E-mail\)" <rbw@mrwassoc.com>, "Bob
Escalante \(E-mail\)" <rescalante@riobravo-gm.com>, "Rob Lamkin \(E-mail\)"
<rllamkin@seiworldwide.com>, "Jan Smutny-Jones \(E-mail\)" <smutny@iepa.com>,
"Steven Kelly \(E-mail\)" <steven@iepa.com>, "Susan J Mara \(E-mail\)"
<Susan_J_Mara@enron.com>, "McNally Temple Assn. Inc. \(Business
Fax\)"@mail.cwo.com
		 Subject: Re:

Jeff Dasovich and Steve Kean are attending.  Someone can be on a call -- me
if no one else -- if Jeff and Steve are travelling at the time. Hey, does the
Governor have to fly coach?

	"CHUDSON" <carol@iepa.com>
	11/22/2000 12:47 PM

		 To: "Katie Kaplan \(E-mail\)" <kaplan@iepa.com>, "Jeff Dasovich \(E-mail\)"
<jdasovic@enron.com>, "Kelly Norton \(E-mail\)" <knorton@mcnallytemple.com>,
"John Stout \(E-mail\)" <John_H_Stout@reliantenergy.com>, "Curtis Kebler
\(E-mail\)" <curtis_l_kebler@reliantenergy.com>, "Rob Lamkin \(E-mail\)"
<rllamkin@seiworldwide.com>, "Bob Weisenmiller \(E-mail\)"
<rbw@mrwassoc.com>, "Susan J Mara \(E-mail\)" <Susan_J_Mara@enron.com>, "Andy
Brown \(E-mail\)" <abb@eslawfirm.com>, "Bob Escalante \(E-mail\)"
<rescalante@riobravo-gm.com>, "Greg Blue \(E-mail\)" <gtbl@dynegy.com>, "Jack
Pigott \(E-mail\)" <jackp@calpine.com>, "Jan Smutny-Jones \(E-mail\)"
<smutny@iepa.com>, "Joe Ronan \(E-mail\)" <joer@calpine.com>, "Lynn Lednicky
\(E-mail\)" <lale@dynegy.com>, "McNally Temple Assn. Inc. \(Business
Fax\)"@mail.cwo.com, "Steven Kelly \(E-mail\)" <steven@iepa.com>, "Susan J
Mara \(E-mail\)" <Susan_J_Mara@enron.com>, <mrmonagan@aol.com>,
<marie_moretti@msn.com>, "Delaney Hunter \(E-mail\)"
<dhunter@smithandkempton.com>, <kelly@hnks.com>, <jparker@HMOT.com>,
<chudson@iepa.com>
		 cc:
		 Subject:

Jan Smutny-Jones, Exec Dir
Independent Energy Producers Assn.
1112 I Street, Suite 380
Sacramento, CA 95814
PH: 916-448-9499
FX: 916-448-0182
iepa@iepa.com

 - Govs meeting Conf Call.doc


Attached please find an updated Power Credit Watch List.  Please direct any
questions to the Credit Hotline, 713-853-1803.


We've sent you electronic reports of the Economist and Financial Times
rankings. If you would like hard copies, please let me know.

thanks,
Debra

--
Debra J. Thomas
Director of Public Relations
Jesse H. Jones Graduate School of Management-MS 531
Rice University
P.O. Box 1892
Houston, Texas 77251-1892
713-348-6343
Fax: 713-348-5251
http://jonesgsm.rice.edu


We have established a set of power volatility curves down to the EFA/monthly
level of detail that can be marked to market up to 6 years out.  Beyond this,
the volatility decays to what we understand to be the long-term level for
power volatility, given our understanding of the behaviour of forward prices
over large time-scales.

The swaption traders can now fit the first 5-6 years of the volatility curve
to the market-observed baseload swaption implied volatilities (typically 3 to
12 months duration for the underlying swap) and then be in a good position to
price other swaptions (including swaptions on individual EFA slots)
consistent with the curve.  There may also be an impact on the daily VaR
calculation.

An illustration of the current volatility curves is pasted below:-

These curves will be reset as the market moves, and allow a mark-to-market
approach to be followed for our volatility book.  The spreadsheet model is
saved in T:\READWRTE\ELEC_UK\MODELS\VOLCURVEGENERATORNEW.XLS and also
attached below for Houston staff to review.

[Stinson - I'd be grateful if you could offer an opinion/audit to ensure that
I haven't missed anything, thanks.]

Regards,

Anjam
x35383


Thank you for registering for the eRisks iConference
"Quantifying Mid-Market Default Risk: Estimation & Validation of Internal
Grades for Basle & Securitization"

Featuring Eric Falkenstein, Vice President of Moody's Risk Management
Services

The iConference is scheduled for
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I talked to Dave about the PRC process and he has invited me to attend the
GPG Managers PRC meeting on July 20.  This will help me understand the
process "live".  I will be meeting with Anne Vaughn in advance of this
meeting, hopefully next week.  Anne will walk me through the portion of the
data gathering process and game plan as to how we can utilize the process and
potentially the software to initiate a similar process in EOTT.
----- Forwarded by Mary Ellen Coombe/Houston/Eott on 06/27/2000 05:06 PM -----

	Lisa Costello@ENRON
	06/27/2000 02:28 PM

		 To: Mary Ellen Coombe/Houston/Eott@Eott
		 cc:
		 Subject: Mid-Year PRC Process for Managers

   To: Shelley Corman/ET&S/Enron@ENRON, Rick Craig/OTS/Enron@Enron, Drew
Fossum/ET&S/Enron@ENRON, Robert Hayes/FGT/Enron@ENRON, Robert
Hill/NPNG/Enron@ENRON, Michel Nelson/ET&S/Enron@ENRON, Dave
Neubauer/ET&S/Enron@ENRON, James Saunders/FGT/Enron@ENRON, Julia
White/ET&S/Enron@ENRON
cc: Stanley Horton/Corp/Enron@Enron, Bill Cordes/ET&S/Enron@ENRON, Larry
DeRoin/NPNG/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON, Phil
Lowry/OTS/Enron@ENRON, John Goodpasture/OTS/Enron@ENRON, Rockford
Meyer/FGT/Enron@ENRON, Michael Moran/ET&S/Enron@ENRON, Sheila
Knudsen/Corp/Enron@ENRON, Wilson Barbee/HR/Corp/Enron@ENRON, Roger
Sumlin/HR/Corp/Enron@ENRON

Subject: Mid-Year PRC Process for Managers

Ladies & Gentlemen:

This is to confirm your appointment as a member of the Performance Review
Committee (PRC) that will cross-calibrate mid-year performance rankings for
all GPG manager-level employees.

For the first time, we will convene a GPG-wide PRC to review the ratings
developed in functional and business-unit performance-mangement sessions in
order to determine final ratings for all employees in manager positions.
This cross-calibration, which will be ratified by GPG's Management Committee,
will help ensure equity in how performance is measured and rewarded for our
managers.

Your participation is critical to the success of  this meeting, which is
scheduled for Thursday, July 20, in Houston at 1:00 PM. (We'll shoot to be
finished between 5:30 and 6:00 PM.)  Please advise me a soon as possible
should there be any conflict affecting your availability to attend.  Sheila
Kundsen, corporate vice president of compensation, will facility this
important meeting for us, I will participate with you as a member of the
committee.  Additional information about the session will be provided to you
as the meeting date draws nearer.

Please contact me with any questions you have regarding the meeting.

Regards,

 dave


John,

The code is revised. Please compare 1098075 with 1098076(with exchange
options vol skew added)
Please call Jeremy for moving this change into produtions. I'll be off this
Friday and next Monday.

Thanks!

Dave
ext. 5-3853


As you are aware, Enron utilizes temporary staffing services to satisfy
staffing requirements throughout the company.  For the past several months, a
project team, representing Enron,s temporary staffing users, have researched
and evaluated alternative Managed Services programs to determine which source
would best meet our current and future needs in terms of quality, performance
and cost containment objectives.  The Business Unit Implementation Project
Team members are:

Laurie Koenig, Operations Management, EES
Carolyn Vigne, Administration, EE&CC
Linda Martin, Accounting & Accounts Payable, Corporate
Beverly Stephens, Administration, ENA
Norma Hasenjager, Human Resources, ET&S
Peggy McCurley, Administration, Networks
Jane Ellen Weaver, Enron Broadband Services
Paulette Obrecht, Legal, Corporate
George Weber, GSS

In addition, Eric Merten (EBS), Kathy Cook (EE&CC), Carolyn Gilley (ENA),
Larry Dallman (Corp/AP), and Diane Eckels (GSS) were active members of the
Selection Project Team.

As a result of the team,s efforts, we are pleased to announce the beginning
of a strategic alliance with CORESTAFF,s Managed Services Group.  This group
will function as a vendor-neutral management entity overseeing all staffing
vendors in the program scope. They will also provide a web based online
technology tool that will enhance the ordering and reporting capabilities.
The goal of our alliance with CORESTAFF is to make obtaining a temporary
worker with the right skills and experience easier while protecting the best
interests of the organization.

We plan to implement Phase I of this improvement effective January 2, 2001.
This Phase I of the implementation will encompass administrative/clerical
temporary workers at the Houston locations only. If you currently have
administrative/clerical temporary workers in your department, the enhancement
will not affect their position. In an effort to preserve relationships, all
current staffing vendors will be invited to participate in this enhanced
program.  CORESTAFF shares our commitment to minimize any disruptions in
service during this transition.

We expect to incorporate the administrative/clerical workers in Omaha,
Seattle and Portland in Phase II, which is scheduled for February, 2001.  The
scope and timing of any additional phases will be determined after these two
phases have been completed.

Realizing the impact that the temporary workforce has in business today, we
selected CORESTAFF,s Managed Services Group based on their exceptional
management team, commitment to quality service, and creative solutions to our
staffing needs.  The relationship promises to offer Enron a cost effective
and simple means for obtaining temporary employees.

In the coming weeks, Enron and CORESTAFF,s Managed Services Group will be
communicating to Enron,s administrative/clerical temporary staffing vendors
about the new process.

There are many benefits to this new Managed Services program, which are
outlined on the attached page.  More details on how to utilize CORESTAFF,s
Managed Services program will be announced soon and meetings will be
scheduled to demonstrate the reporting system and to meet the Managed
Services team.

What is Managed Services?

CORESTAFF,s Managed Services program includes:

? Vendor-neutral management model
? Equal distribution of staffing orders to all staffing partners
? Web-based application with online ordering, data capture and customized
reporting
? Benchmarking and performance measurement for continuous improvement
? Methodologies for accurate skill-matching and fulfillment efficiencies

Key Benefits

? More vendors working on each order from the outset ) faster access to
available talent pools
? Standardized mark-ups and fees to manage costs more effectively
? Online access to requisition status for users
? Robust databases offering managers enhanced tracking and reporting of
temporary usage and expenditures
? Standard and customized reporting capabilities -- online
? Tenured, experienced Managed Services team on-site to assist users in
accessing web site, identifying usage trends, preparing specialized reports,
etc.

Corestaff/Managed Services/Staffing

Joseph Marsh ) Lead / Operations (josephm@corestaff.com; 713-438-1400)
Amy Binney, Sharon B. Sellers ) Operations
Cherri Carbonara ) Marketing / Communications
Cynthia Duhon )Staffing Partner management


Market Participants:

Please be advised that the Friday, March 9th New Facilities Interconnection
Policy Stakeholder meeting has been changed to Monday, March 19th.  The
location and times will remain the same.

If you are not able to attend and want to access through the internet the
link has changed to the following:

http://acw.activate.net/intercall/03192001/californiaiso1_010319.ram
<http://acw.activate.net/intercall/03192001/californiaiso1_010319.ram>

For those calling in, the phone information will remain the same.

If you plan to attend this meeting please RSVP to Colleen Grant at
cgrant@caiso.com <mailto:cgrant@caiso.com>  no later than COB on Thursday,
March 15th.

We apologize for any inconvenience this may have caused you.

Byron Woertz
Director, Client Relations


Thursday, 1:30 works for me.  Thanks. Lynn

 -----Original Message-----
From: 	Winckowski, Michele
Sent:	Monday, November 12, 2001 8:36 AM
To:	Miller, Kent; Williams, Jo; Kirk, Steve; Paladino, Ranelle; Dornan, Dari; Neville, Sue; Branney, Theresa; Blair, Lynn; Fancler, Dan; Chandler, Bob; Kissner, Tim; Brennan, Patrick; Bodnar, Michael
Subject:	RE: offsystem capacity - meeting

	Wednesday doesn't work for most folks.  So...How about Thursday, @ 1:30 p.m.  please let me know and I'll set up the meeting.  thanks for the quick response.  Thanks MW

 -----Original Message-----
From: 	Winckowski, Michele
Sent:	Friday, November 09, 2001 12:26 PM
To:	Miller, Kent; Williams, Jo; Kirk, Steve; Paladino, Ranelle; Dornan, Dari; Neville, Sue; Branney, Theresa; Blair, Lynn; Fancler, Dan; Chandler, Bob; Kissner, Tim; Brennan, Patrick; Bodnar, Michael
Subject:	offsystem capacity - meeting

	I would like to set up another meeting next week to discuss the procedures for acquiring offsystem capacity.  I have incorporated the comment received from the draft distributed several weeks ago.  When would be a good time for this meeting?

	How about Wednesday, Nov 14 10:00 am?  Thanks MW


You can take them off.  I spoke to Sara and Marie didn't want them to attend
and that is fine with Sara.

	Suzanne Adams
	05/23/2000 09:19 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re: Marie Heard's Party

Sara told me to put them on the list.  I've got a voice mail into her
regarding same.

On another note, is there anything you need for tomorrow.  I sent the email
saying the meeting was from 12 to 1:30 in 46C1 and lunch w/be provided.  Let
me know if there's anything else you need.

	Tana Jones
	05/22/2000 02:57 PM

		 To: Suzanne Adams/HOU/ECT@ECT
		 cc:
		 Subject: Re: Marie Heard's Party

The list looks OK except take off Clement Abrams and Ted Murphy.

	Suzanne Adams
	05/22/2000 02:25 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Marie Heard's Party

Tana, please look at that list as soon as you can.  I'd like to get the email
out today or tomorrow since we need rsvps for the food and drink.  Thanks, Suz


No objections

-----Original Message-----
From: Rohauer, Tanya
Sent: Monday, November 19, 2001 12:51 PM
To: Shackleton, Sara; Bradford, William S.; Kitchen, Louise
Subject: FW: Carr Futures
Importance: High

Are there any objections to issuing the gty? We just did the same thing last week for FIMAT Issuing seems the simplest rather than having to stop trading, although traditionally we have not issued corp gtys.  Please advise.

Tanya

-----Original Message-----
From: Glover, Sheila
Sent: Monday, November 19, 2001 11:28 AM
To: Rohauer, Tanya
Cc: Su, Ellen
Subject: Carr Futures
Importance: High

Tanya,
I received a call from Carr Futures this morning.  Their parent, Cr?dit Agricole Indosuez, is requesting a parent guanantee to continue trading with Enron North America Corp. and Enron Capital and Trade Resources International.

I spoke with Gary this morning and he said that we could stop trading with them.  I said that others do trade with Carr.  He suggested then that the energy guys can proceed if they wish to continue trading with Carr.

Rick Farina, 312-441-4420, called me with Larry Anderson and Patty Chambers.

How do you want to proceed?

Sheila


That would be great.

B.

	Vince J Kaminski@ECT
	06/29/00 10:27 AM

		 To: Barry Pearce/Enron Communications@Enron Communications
		 cc: Stinson Gibner/HOU/ECT@ECT, Tanya Tamarchenko/HOU/ECT@ECT, Grant
Masson/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT
		 Subject: EBS VaR Transaction Policy

Barry,

Stinson forwarded your message to me. I am meeting Ted Murphy today and I
shall bring it up with him.
We have unit at Research (Tanya Tamarchenko, reporting to Grant Mason) who is
responsible for
 V@R support.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 06/29/2000
10:28 AM ---------------------------

Stinson Gibner
06/29/2000 09:55 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: EBS VaR Transaction Policy

FYI

---------------------- Forwarded by Stinson Gibner/HOU/ECT on 06/29/2000
09:54 AM ---------------------------

	Barry Pearce @ ENRON COMMUNICATIONS
	06/29/2000 09:09 AM

To: Stinson Gibner/HOU/ECT@ECT, Dale Surbey/LON/ECT@ECT, Ted
Murphy/HOU/ECT@ECT
cc: Lou Casari/Enron Communications@Enron Communications, John Echols/Enron
Communications@Enron Communications, Jim Fallon/Enron Communications@Enron
Communications
Subject: EBS VaR Transaction Policy

Hey you guys,

We are trying to implement a 'VaR transaction' policy - and would like your
opinion.

This is going to be tough - because I'm not sure we have implemented a
similiar policy across any of our other 'books' - that is - we looking to
bring in all the accrual/operational assets as well as the MTM stuff
(lambdas). To have a real-live 'configuration' of the system.

If assets/routes/servers etc...are added - what is the impact on the 'value'
of the system and what it's worth.

John has attached a draft below - for your review and thoughts.

I can see how this works in a trading environment - when you actually know
the VaR of your whole trading portfolio. However - I've not seen this done
with a mixture of MTM & accrual assets. Add the spice of a 'operational
system' valuation  - and this will be tough to quantify and model.

Step 1 - configure system and value it
Step 2 - calculate a VaR on this. We will need to do some work here!
Step 3 - calculate the incremental VaR of new deals/amendements/reconfigs etc
- tough....

See what you think?

B.

	John Echols
	06/28/00 05:41 PM

		 To: Jim Fallon/Enron Communications@Enron Communications, Barry Pearce/Enron
Communications@Enron Communications, Lou Casari/Enron Communications@Enron
Communications
		 cc:
		 Subject: Policies

Here is a first rough draft of a "value @ risk" transaction policy.

I would like you to start looking at where we are going on the policy and get
some early thinking going on limits for the V@R.  For example, should we
effectively shut down all server relocations without approval,  or allow some
level of MB of storage to be moved around or reconfigured?

I need some commercial and industry realism for this.  We may need Rick
Paiste or your industry helpers (Marquardt, etc. to help us).

Barry,  Lou,  I need your input.


ISDA PRESS REPORT FOR NOVEMBER 10, 2000

* Sri Lanka Plans To Deregulate Broking Industry
* Battle For The Benchmark Is On
* Swiss bank offers 'Gore' and 'Bush' derivatives

Reuters - November 9, 2000
Sri Lanka Plans To Deregulate Broking Industry

Sri Lanka plans to deregulate its broking industry and to allow for
specialised brokers who will promote new risk instruments, the director
general of the Colombo Stock Exchange (CSE) said.

"We are looking at the deregulation of the stock broking industry to allow
free entry and exit," Hiran Mendis told a forum of business leaders late on
Thursday.

In the current system, the CSE board advertises slots for broking licences
and approves eligible applications.

"We will allow brokers to do more investment banking, margin lending and
dealing on their own account, and are also considering brokers doing their
own underwriting," Mendis said.

"Brokers' fees are too high due to the lack of diversification in
activities," Mendis said.  The CSE has been badly hit by an exodus of
foreign equity capital this year due to an escalation in Sri Lanka's ethnic
war.

Average daily trading volumes were down to about 25 million rupees last
month, half the volume from earlier this year.

The key Colombo all share index opened around 493 on Friday, up from the low
of the year of 427.62 in May but down from the year's high of 574.26.

The CSE also plans to introduce derivatives , short-selling and securities
lending from around September 2001.

At present, Sri Lanka's 15 broking firms act only as agency brokers while
having some leeway to extend margin lending facilities and to trade on their
own account.

Mendis said brokers would also be allowed to segment their activities, with
some offering trading facilities and others, clearing and settlement
services.

"We also hope to introduce Internet trading in the next three-four months,"
Mendis added.
($1 = 80 rupees).

Financial Times - November 10, 2000
Battle For The Benchmark Is On:

The French government bond market has benefited from the launch of the euro,
but possibly not as much as it might have liked to, according to market
strategists. When the introduction of the European single currency did away
with currency risk among the participating countries, France set out to
topple Germany from its position as the benchmark provider for the European
government bond market.

Germany has maintained that position mainly as a result of the strength of
its currency, the D-Mark, as well as the reputation of its central bank, the
Bundesbank.

But, with the first no longer an independent entity and the second stripped
of its monetary policy remit, the battle for providing the new euro-zone
benchmark has been thrown open.

So far, the outcome is inconclusive. Market participants praise the French
government debt agency France Tresor for its transparent information policy
and efficient debt management at a time when falling budget deficits and
windfall earnings from the sale of mobile phone licenses are reducing
European
governments' need to borrow.

"It is certainly the case that the information policy of France Tresor is
better than that of the various bodies in Germany," says Daniel Pfandler,
bond strategist at Dresdner Kleinwort Benson. "But Germany remains the
benchmark in 10- and 30-year issues, whereas in the two-and five-year
maturities one could argue that France is ahead."

France's deficit is expected to fall to 1 per cent of gross domestic product
next year, excluding the projected receipts from UMTS mobile licences.
Including those receipts, France expects a small surplus.

However, there should be little impact on bond issuance as UMTS receipts -
expected to amount to some Euros 20bn - are spread over several years.
France has also embarked on an active debt management programme in order to
boost liquidity even as financing requirements fall.

That includes the activities of agencies such as the Caisse d'Amortissement
de la Dette Sociale which re-finances the debt of France's social security
system and will continue to be active in the market.

But although France has emerged as the leading European issuer in some
maturities and some types of bonds, many investors especially outside the
eurozone, continue to regard Germany as the point of reference for
euro-denominated government bonds.

Germany's competitive advantage in the 10-year maturities is underpinned by
the liquidity in the Bund futures market on Eurex, the Swiss-German
derivatives exchange, which is perceived as the European market leader.

But the French policy of releasing issuance schedules up to a year in
advance with bond auctions held regularly every month is seen as superior to
Germany's quarterly schedules. France has also traditionally provided a more
regular supply of liquid issues over the whole range of maturities from 2-to
30- year
bonds.

"France has always had liquid issuance's spread much more evenly across the
whole of the yield curve," says Nathalie Fillet, bond strategist at BNP
Paribas.

The five-year BTAN is now widely regarded as the benchmark trading at the
same or a slightly lower yield than its German counterpart, the Bobl.

France has also led the way in launching the first euro-denominated index
linked bond, known as "OATi" and runs the most developed market for
"strippable" government bonds - which can be split into their component
parts of coupons and principal. Even so, French bonds in parts of the yield
curve still trade at a
spread over the German government's Bunds, meaning that France is borrowing
at a more expensive interest rate than Germany.

"The French curve offers more steady large issuances, it is very transparent
and from the French Tresor's point of view, that should certainly be
producing narrower spreads," says Padhraic Garvey, senior bond strategist at
ABN Amro in Amsterdam. "But the French curve is regarded as a spread
product, because the German market is seen as the anchor to the system for
historic reasons."

Mr Garvey said that this year, spreads between German bunds and other
European government bonds have widened as a result of increasing worries in
the market over the quality of European monetary union.

Those fears were exacerbated by the relentless slide of the euro on the
foreign exchange markets.
Greece's decision to join the euro next year, while Denmark has decided to
stay out, has further shaken investor confidence. The launch of euro notes
and coins in 2002 is likely to help allay fears that monetary union could
break up, and that is likely to produce tighter spreads between European
government bonds.

The Hindustan Times - November 10, 2000
Swiss bank offers 'Gore' and 'Bush' derivatives

A SWISS bank is offering financial derivative called 'George Bush'and 'Al
Gore' options made up of baskets of US company shares which could profit if
their namesake wins the presidential elections.
Vontobel, Switzerland's fifth-biggest bank, advertised the offers in Swiss
newspapers today as the world awaited the outcome of the cliffhanger US
vote.

"On wednesday morning we decided to launch the George Bush product on the
announcement of the first results of the elections, then during the day with
the uncertainty over the winner we prepared the Al Gore product," a banking
source said.

The Democrat' product is made up of shares in pharmaceuticals company Merck
and Co, mortgage loan specialists Fannie Mae and Freddie Mac, Devry Inc,
Ballard and United Technology.

End of ISDA Press Report for Monday, November 6, 2000.

THE ISDA PRESS REPORT IS PREPARED FOR THE LIMITED USE OF ISDA STAFF, ISDA'S
BOARD OF DIRECTORS AND SPECIFIED CONSULTANTS TO ISDA.  THIS PRESS REPORT IS
NOT FOR DISTRIBUTION (EITHER WITHIN OR WITHOUT AN ORGANIZATION), AND ISDA IS
NOT RESPONSIBLE FOR ANY USE TO WHICH THESE MATERIALS MAY BE PUT.


Vince,
I have put together a parameter estimation model, which is continuation of
Tanya's model.
The estimation process is more consistent now. Attached are the model and a
brief
write-up of the methods. If you see any problem/ways to improve it, please
let me know.

Best,
Alex


none

 -----Original Message-----
From: 	Campos, Kathy
Sent:	Tuesday, October 30, 2001 10:50 AM
To:	Daily, Pamela; Tu, Denis; Lipuscek, Joan; Botello, Mary; Geaccone, Tracy; Kleb, Steve; Weitekamp, James; Lin, Judy; Rosenberg, David E.; Moore, Jan; Schroeder, Maggie
Subject:	Exceptions

Please forward exceptions for October 16 - 31, 2001 pay period.

Thank You,
Kathy


In order for me to effectively represent you at the ETS PRC  and for some of
you at the Accounting and Finance PRC's I will need some information from
each of you.      Please send the following to Kathy Campos who will put it
together for me in a book.

1. Copy of your goals for 2000 and the latest status.
2. A list of accomplishments/things you are proud of this year, specifically
indicate any involvement in the    Associates/Analysts Program or the
Recruiting Program.
3. Copy of a Self Evaluation you completed in the PEP System.
4. Your Supervisor will provide me with a Copy of a Preliminary Evaluation.

I will need these by the 29th of November for those in the accounting and
finance ranks.   For all others I will need the input for the 13th of
December.


Lance,

Any comment?

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/05/2001
08:37 AM ---------------------------
From: Beth Perlman/ENRON@enronXgate on 04/04/2001 04:50 PM
To: Louise Kitchen/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT, Kevin M
Presto/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: FW: modified version

This may be of interest to you.  I was contacted by Steve Lake from Argonne
National Laboratory who  is interested in selling us some of their models and
mapping software.  Let me know if there is any interest.

Thanks,
Beth

 -----Original Message-----
From:  "Lake, Stephan" <slake@anl.gov>@ENRON
[mailto:IMCEANOTES-+22Lake+2C+20Stephan+22+20+3Cslake+40anl+2Egov+3E+40ENRON@E
NRON.com]
Sent: Wednesday, April 04, 2001 3:52 PM
To: Perlman, Beth
Cc: Conzelmann, Guenter
Subject: FW: modified version

Beth,

I  enjoyed talking with you this afternoon regarding possible Enron/Argonne
National Laboratory collaboration. As I mentioned, one of our  divisions,
Decision Information Sciences has built state of the art tools  for modeling
and simulating energy use. They have trained many country  energy ministries
on the use of their tools as well as solved complex energy  technology issues.

I've  attached a presentation which describes some of their capabilities in
this area.  Decision Information Sciences also has done much work in studying
critical  infrastructure issues in both gas and electric systems which also
may be of  interest. Finally, they have been pioneers in the development of
agent  based complex adaptive systems for modeling very complex systems that
are impossible to view with over approaches.

I will also include a copy of my  correspondences with one of your e-business
groups under separate  transmission.

Regards,

Stephan Lake
Manager, Business Development and  Marketing
Argonne National Laboratory
630-252-5685 telephone
630-252-5230 fax

-----Original Message-----
From: Conzelmann, Guenter
Sent: Monday, April 02, 2001 4:50 PM
To: Lake,  Stephan
Subject: modified version

Guenter  Conzelmann
Manager, National and International Studies  Section
Energy and  Environmental Systems Analysis Group
Argonne National  Laboratory
9700 South Cass  Avenue
Building 900
Argonne, IL 60439-4832
Telephone:   ++1-630-252-7173
Fax:  ++1-630-252-6073
email:   guenter@anl.gov
Web:   http://enpep.dis.anl.gov/enpep/

FedEx/DHL Address:
1200 International Parkway
Woodridge, IL 60517

 - enpep overview industrial partnership 02 lake.ppt


OPERATIONS COMMITTEE

LeRoy Patterson's May 25th letter referred to a letter from Mark Hackney but
it was inadvertently left out of the distribution.  Attached are the letters from
LeRoy Patterson and Mark Hackney.

cc:	Paul Barber - EMMT
	Bill Comish - WSCC
	Dennis Eyre -WSCC
	Bill Pascoe - MPC
	INTERCHANGE SCHEDULING AND ACCOUNTING
		SUBCOMMITTEE
	WESTERN MARKET INTERFACE COMMITTEE
	COUNCIL REPRESENTATIVES
	OC STEERING COMMITTEE

Danielle Gardner
PH: (801)582-0353
Fax: (801)582-3918
EM: danielle@wscc.com

The following section of this message contains a file attachment
prepared for transmission using the Internet MIME message format.
If you are using Pegasus Mail, or any another MIME-compliant system,
you should be able to save it or view it from within your mailer.
If you cannot, please ask your system administrator for assistance.

   ---- File information -----------
     File:  e-tag requirements.doc
     Date:  25 May 2001, 14:57
     Size:  32256 bytes.
     Type:  Unknown

 - e-tag requirements.doc
The following section of this message contains a file attachment
prepared for transmission using the Internet MIME message format.
If you are using Pegasus Mail, or any another MIME-compliant system,
you should be able to save it or view it from within your mailer.
If you cannot, please ask your system administrator for assistance.

   ---- File information -----------
     File:  Mark Hackney letter.doc
     Date:  1 Jun 2001, 10:11
     Size:  50176 bytes.
     Type:  Unknown

 - Mark Hackney letter.doc


_________________________________________________________________

                   I N V E S T I N G  B A S I C S
                     Wednesday, October 25, 2000

benjamin.rogers@enron.com
_________________________________________________________________

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1. "Don't worry, be crappy." Yes, you read that right. It's
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Kawasaki offers the example of Gillette, which maintains a
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If you're looking for a well-written, engaging book to help you
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http://www.fool.com/m.asp?i=168100

_________________________________________________________________

My Portfolio: http://www.fool.com/m.asp?i=168101
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____________________________________________________
(c) Copyright 2000, The Motley Fool. All rights reserved. This
material is for personal use only. Republication and
redissemination, including posting to news groups, is expressly
prohibited without the prior written consent of The Motley Fool.

MsgId: msg-20461-B10256286Address.msg-13:00:14(10-25-2000)
X-Version: mailer-sender-master,v 1.84
X-Version: mailer-sender-daemon,v 1.84
Message-Recipient: benjamin.rogers@enron.com


Ta da...
---------------------- Forwarded by Kay Mann/Corp/Enron on 10/20/2000 12:40
PM ---------------------------

	Enron North America Corp.

	From:  Kay Mann                           09/28/2000 09:16 PM

To: ppipitone@andrews-kurth.com
cc:

Subject: ABB Purchase Agreement - Final Version

Hi Paul,

This will need the same facilities agreement treatment as the GE contract we
are working on.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 09/28/2000 09:14
PM ---------------------------
From: Kathleen Clark@ENRON_DEVELOPMENT on 07/24/2000 03:05 PM
To: kay.mann@enron.com
cc:

Subject: ABB Purchase Agreement - Final Version

Kay:

Attached is the final version:


Hello Eric Saibi,

 This is an automated email delivery.  The following info is for
 tracking purposes only:

 Transaction: 0000192918
 Fulfillment: 00203618*00002
 Location   : 00006

 Industrial Information Resources, Inc.
 Customer Service Department
 (713) 783-5147

 - OUTAGE.dbf


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I am trying to track down in London the author of an ISDA Schedule on the
deal between ECT and the ETOL Trust.  The top of the Schedule says "Milbank
Draft" and the document # on the botton says LN1: #20030058v5.  Robina
Barker-Bennett in Treasury left Mark Taylor an email about this, and I left
her a voicemail trying to track down the document, but haven't heard back.  I
would think the document was prepared by one of your lawyers.  Mark needs the
computer document so we can do a blackline against another agreement here in
Houston.

Can you see what you can do to track it down for me.  I'd appreciate it.


Correct again....This deal has been changed. Also, I've forwarded these last
two e-mails to Bill Williams III, Real Time manager, who can talk to these
guys about using correct counterparty names in deal entry. In the future if
you see errors or discrepancies in deals done by the Short Term West Hourly
desk, please send the e-mail to Bill and myself. This will hopefully be a
more direct way of nipping the problem in the bud.

Thanks for your help.

Kate

Melissa Ann Murphy
12/13/2000 05:04 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 476642

Sorry to keep bugging you.  I think this deal is in as the wrong TransAlta.

Thanks!
Melissa


Dear Kam,

Nothing needed as of yet.  However, I'm sure E&Y will come back with qus.  I'll let you know when they do.

Thanks for the info!

Shona

 -----Original Message-----
From: 	Keiser, Kam
Sent:	Friday, January 18, 2002 11:13 AM
To:	Wilson, Shona
Subject:	FW: Form A

 -----Original Message-----
From: 	Keiser, Kam
Sent:	Friday, January 18, 2002 11:09 AM
To:	Wilson, Shona
Subject:	Form A

Shona,

I forwarded Form A to Raj, please let me know what kind of back up is needed.

Thanks

Kam
x3-5781

 << File: E&Y Form A.xls >>


How about Raymont, Bill Schroeder and Wayne Chrebet for Freeman?


Dear Rogelio,

Thank you for your email.

Things are changing here at Enron and I am moving to a different group within
the Legal Department. I will be doing the legal work to support our Physical
Power Trading operations, effective April 3, 2000.

My colleague, Sara Shackleton, will be replacing me with respect to the legal
work for financial derivatives in Mexico. Her direct line is 713-853-5620/
Fax 713-646-3490. I will forward your email to her.

It has been a pleasure working with you and your colleagues and I wish you
all the very best for the future.

Kind regards,

Shari
________________________________

Rogelio L?pez Velarde <rlopezv@lvha.com.mx> on 03/29/2000 11:04:09 AM
Please respond to Rogelio L?pez Velarde <rlopezv@lvha.com.mx>
To: Peggy Banczak/HOU/ECT@ECT
cc: Crist?bal Perdomo <cperdomo@lvha.com.mx>, "Shari Stack"
<sstack@ect.enron.com>, "Max Yzaguirre" <Max.Yzaguirre@enron.com>, "Jaime
Williams" <Jaime.Williams@enron.com> (bcc: Shari Stack/HOU/ECT)
Subject: Incorporation of Financial Trading Company

Please see Memorandum transmitted herewith.
 - att1.htm
 - 000328 Incorporation of Financial Trading Company.doc


Wincenty J Kaminski (vkamins@enron.com)

This email is to confirm your online order which was received on 24-Aug-2000.
Please note that this does not constitute a receipt.
If you have any queries or problems please e-mail
directcustserve@cup.cam.ac.uk (Customer Services) quoting order reference
number Web5908 /DS51002180.

Totals: 1 lines, 1 items, weight 0.630kg, value GBP 30.00
Delivery charge, Air: GBP 5.00

Total cost: GBP 35.00

Shopping Basket

Theory of Financial Risks,   From Statistical Physics to Risk Management,
Jean-Philippe Bouchaud (Hardback),  ISBN 0521782325
 Quantity: 1 Reference:Kaminski Cost: GBP 30.00 In Stock


Hi,

IF YOU'VE ALREADY RETURNED THE FORM, PLEASE IGNORE THIS.

If you have not yet done so, please complete and return the attached
"Transportation Commitment Form."

You can e-mail back to me, fax it at (510) 643-5902, mail it to me or come
into the office and fill out the form here.

Remember this is due on Friday, April 27th.

Thanks.

Seung Lee
Haas School of Business
Evening MBA Program

 - Transportation commitment form.doc


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 08/18/2000
08:18 AM ---------------------------

Darrell Duffie <duffie@Stanford.EDU> on 08/17/2000 07:37:51 PM
Please respond to Darrell Duffie <duffie@Stanford.EDU>
To: Vince.J.Kaminski@enron.com
cc:
Subject: Re: Full version

I read the chapter. Generally,
I like it, and find it non-controversial
and well written. Of course, this is
a huge topic and there are things
that you haven't discussed.

I thought the amount of attention
paid to OLS and MLE estimation
was a bit overboard, given that you
didn't really exploit it in your
results. If you were to state
the likelihood function for
the GARCH model, it might justify
the amount of attention to
gave to estimation for
simple iid processes, which could then
be thought of as a simple lead-in
and intuition builder to
the more interesting models that
you do actually use.

By the way, in your discussion of
smiles, you discuss fat tails
extensively. At least for equity markets,
while fat tails contribute, they don't do very
much at all compared to the effect
of risk premia, which you allude to briefly,
using supply-demand language, at the
end of that section.

For the impact of risk premia, see
Jun Pan's paper, which is available
from her web page. But she covers
only SP500, (as do most studies),
and your markets are obviously much different.

The chapter will be a good service to your readers!

Best, Darrell

> X-Lotus-FromDomain: ECT
> From: "Vince J Kaminski" <Vince.J.Kaminski@enron.com>
> To: Darrell Duffie <duffie@Stanford.EDU>
> cc: "Grant Masson" <Grant.Masson@enron.com>, "Vince J Kaminski"
<Vince.J.Kaminski@enron.com>
> Date: Wed, 16 Aug 2000 16:37:53 -0500
> Subject: Re: Full version
> Mime-Version: 1.0
> Content-Disposition: inline
> X-UIDL: 00453eda98c82d709e6123af537e4f63
> X-Keywords:
>
>
>
> Darrell,
>
> Thanks a lot. I really appreciate it. The text is below our usual
> standards but we are completely swamped with work here.
>
> Vince
>
>
>
>
>
>
>
> Darrell Duffie <duffie@Stanford.EDU> on 08/15/2000 04:54:23 PM
>
> Please respond to Darrell Duffie <duffie@Stanford.EDU>
>
> To:   Vince.J.Kaminski@enron.com
> cc:
> Subject:  Re: Full version
>
>
> I'll have a look!
>
> I haven't much time, but can certainly
> get you a quick reaction, at least!
>
> Best, Darrell
>
>
> > X-Lotus-FromDomain: ECT
> > From: "Vince J Kaminski" <Vince.J.Kaminski@enron.com>
> > To: duffie@Stanford.EDU
> > Date: Thu, 10 Aug 2000 14:04:47 -0500
> > Subject: Full version
> > Mime-Version: 1.0
> > Content-Disposition: inline
> > X-UIDL: 9fef7462afa5d4ee6c04c9c02df71b25
> > X-Keywords:
> >
> >
> >
> > Darrell,
> >
> > Grant just alerted me that I sent you only  part of the text.
> >
> > Here is the full chapter with an aged version of Gran't part.
> > What I sent you represents an update of his contribution.
> >
> > Sorry for that.
> >
> > Vince
> >
> >  (See attached file: vol0720.DOC)
>
> _____________________________________________
> Darrell Duffie
> mail  GSB Stanford CA 94305-5015 USA
> phone 650 723 1976
> fax   650 725 7979
> email duffie@stanford.edu
> web   http://www.stanford.edu/~duffie/
> _____________________________________________
>
>
>
>
>
>
>

_____________________________________________
Darrell Duffie
mail  GSB Stanford CA 94305-5015 USA
phone 650 723 1976
fax   650 725 7979
email duffie@stanford.edu
web   http://www.stanford.edu/~duffie/
_____________________________________________


Anne, per our discussion, could you get with Rosalie Fleming about this?
 <<AutoRecovery save of President Bush Invite Letter.wbk>>

 - AutoRecovery save of President Bush Invite Letter.wbk


------------------------------------------------------------------------------------------------------
W E E K E N D   S Y S T E M S   A V A I L A B I L I T Y

F O R

June 1, 2001 5:00pm through June 4, 2001 12:00am
------------------------------------------------------------------------------------------------------

ECS to ECN Network Interconnection, June 9th 2001

This is a notification that the Enron Corp. I/T Networks team will be connecting the new building network infrastructure located in Enron Center South (ECS) to the existing Enron Center North (ECN) backbone network.  While this activity is not expected to produce a disruption to network services, this notice is designed to alert the organization to our activities.  No network hardware or systems are anticipated to be shutdown.  The actual physical interconnection of the networks will be performed in the EB 34th floor Data Center.

Interconnection activities are scheduled to occur the evening of June 9th 2001 starting from 7:00 p.m.(CT) and completing around 11:00 p.m. (CT). Application testing activities will begin at 11:00 p.m. (CT) once all network testing has completed.

If you have any further questions, please contact Pete Castrejana at 713-410-0642 for more information.

SCHEDULED SYSTEM OUTAGES:

ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

AZURIX: No Scheduled Outages.

EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

EDI SERVER: No Scheduled Outages.

ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages

ENRON NORTH AMERICAN LANS:  SEE ORIGINAL REPORT

FIELD SERVICES:  No Scheduled Outages.

INTERNET:     SEE ORIGINAL REPORT

MESSAGING:      SEE ORIGINAL REPORT

Impact:  Exchange
Time:  Fri 6/1/2001 at  7:00:00 PM thru Fri 6/1/2001 at  7:30:00 PM
Outage:  Initiate Failover of Nahou-msmbx01v to unlock backup api
Disruption:
Environments Impacted:  Users on with mailboxes on nahou-msmx01v
Purpose: Ensure backups run successfully
Backout: N/A
Contact(s): 	Scott Albright  713-345-9381

Impact:  CORP
Time:  Sat 6/2/2001 at  10:00:00 PM thru Sat 6/2/2001 at  10:15:00 PM
Outage:  Exchange server message change
Disruption:  Intermittent Disruption of Service
Environments Impacted:  Corp Exchange users on nahou-msmbx05v
Purpose: To enable the new mailbox over the limit message
Backout:
Contact(s): 	Tim Hudson  713-853-9289

MARKET DATA: No Scheduled Outages.

NT: No Scheduled Outages.

OS/2:  No Scheduled Outages.

OTHER SYSTEMS: No Scheduled Outages.

SITARA:  No Scheduled Outages.

SUN/OSS SYSTEM: No Scheduled Outages.

TELEPHONY: No Scheduled Outages

TERMINAL SERVER:  No Scheduled Outages.

UNIFY:  No Scheduled Outages.

-------------------------------------------------------------------------------------------------------------------------------------
								FOR ASSISTANCE

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Specific Help:
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All,

 At our offsite in Miami next week, each of you are on the agenda to present
your business and goals.  This will be very short, only 20 minutes (an agenda
will soon follow but we will have a business meeting from 8am - 11:30am on
Saturday).  Please prepare a few of pages on power point and submit to Cathy
Phillips so that she can have all the presentations ready for that Saturday
morning.

Attached below is a copy of the abbreviated goals that I submitted to
Frevert, summarizing EGM's 2001 goals.  Please do not hesitate to change the
list and add to it, it is only a guide and was used as a quick reference of
EGM for the Enron board.  After this meeting, I will take each of your
presentations and make a more comprehensive goals and objectives list for EGM
as a business unit.  Also please add some of your other specific goals that
illustrate where you want to be by year end regarding your competitive
position and/or market share.  For example, to be the largest marketer of
coal in the US, to be the largest options player in crude and products, or
what ever is appropriate.

Also attached, for your information, is a recent  presentation from the coal
group.  We thought that this was an excellent format and review.  In the
upcoming weeks, we would like to see an update on each of your businesses as
well.  I will let you know more in the next few weeks about the timing and
format.

Thanks,
Mike


Lets make sure what Durango is going to say, but I am inclined to call their
bluff and proceed to trial. Lets see what Steve Schneider has to say

	Bonnie White@ENRON
	07/06/2000 07:07 PM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc: Lisa Robichaux/Corp/Enron@ENRON, Eileen Kisluk/Corp/Enron@ENRON
		 Subject: aj collins versus houston pipeline

Richard,

I am forwarding an e-mail that I received today from Durango Petroleum re the
Collins matter in Hardin County.  I spoke with the company president today.
He believes that they do not have any exposure but would like to settle the
matter as they believe it will cost them more than $5000 to hire counsel to
defend it.  I told him that I did not believe that HPL would be inclined to
pay $5000 to settle the case, but that I would pass along his request.  I am
concerned about his statement in the letter re having given HPL notice over a
year ago to remove the pipe/valve.  I asked him if he had any correspondence
or other evidence of that .  He will check and get back to us.  Lisa
Robichaux will determine whether our right of way group has anything in its
file placing us on notice that we no longer had the right to be on the land.
If we received notice and ignored it, we may want to consider contributing to
a settlement since they would have at least some evidence to attempt to prove
intentional trespass.  However, I still believe that Collins will have a
difficult time proving any actual damages.  We need to be cautious about not
getting into a situation in which Durango/IP Petroleum would end up helping
Collins to prove his case.

Eileen Kisluk will be working on this matter in my absence over the next two
weeks.  We just received notice that the case was set for trial on August
17.  Plaintiff had not done any discovery before setting it for trial.  He
sent out requests for disclosure and a few interrogatories/requests for
production along with the notice of trial setting.  Lisa Robichaux will work
with John Towles in Right of Way to gather the information.  We also intend
to send out a notice of deposition of Collins for the week I return
(July24).  In the meantime, if you agree, I intend to file a motion for
continuance since Durango would like one, Collins did not give us notice of
his request for trial setting and I will be out due to wedding/honeymoon.
However, we will be prepared to go forward in the event that it is not
granted.  I will be in the office until approximately noon tomorrow if you
have any questions.  Thanks.

Bonnie

----- Forwarded by Bonnie White/Corp/Enron on 07/06/2000 06:52 PM -----

	"rjsabre" <rjsabre@wf.net>
	07/05/2000 04:50 PM
	Please respond to "rjsabre"

		 To: <bwhite2@enron.com>
		 cc:
		 Subject: aj collins versus houston pipeline

dear mrs. white:
?
this firm is named as a defendent with enron in referenced  cause.? please
read the attached letter and call or email me at your  earliest convenience.?
ron jackson
?
phone number 940-696-8077 ext 12.
?
ps...letter is in microsoft word format.? if you are  unable to open it
please advise and i will fax it to  you.
 - collins.doc


Susan:  Here is the latest comment from Michael regarding the negotiations.
We should keep Lotus Notes updated.  Thanks.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 05/23/2000 01:48 PM -----

	Deepak Sitlani
	05/23/2000 10:52 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Michael Moulton/HOU/ECT@ECT, Edmund Cooper/LON/ECT@ECT, Michael
Khajeh-Noori/LON/ECT@ECT
		 Subject: SITA

Sara

I refer to our recent conversation relating to the progress of ISDA
negotiations with the above counterparty.

I have just spoken to Carine Lavergne at SITA.  She informs me that SITA does
not feel adequately equipped or informed to progress the negotiations
internally and therefore intends to appoint external counsel (I urged her to
do this as soon as possible).  Despite this intended appointment, she assured
me that SITA wishes to enter into the ISDA as soon as possible and is keen to
keep negotiations to a minimum.

Either I or Michael Khajeh-Noori will keep you updated as to the progress.

For your information, I also attach a status report with respect to the
counterparties with whom Michael and I are currently negotiating.

Let me know if you need anything else.

Regards
Deepak


gerald, pls change the contract price to monthy index minus $ .42 US/mmbtu on both agreements and resend.


- Gerald
Note Dominion's legal name - it was different on the previous email.

Tyrell Harrison
303 575 6478


Rick

Attached please find the project update.

Thanks,

Ding.


Let's try and keep this quiet.
 -----Original Message-----
From: 	Thode, Eric
Sent:	Monday, October 01, 2001 9:40 AM
To:	Kitchen, Louise
Subject:	Fortune

Here's the Fortune link...

http://www.fortune.com/indexw.jhtml?channel=list.jhtml&list_frag=list_5columns_powerwomen.jhtml&list=22&_requestid=3612


Thank you.  I'm still working on the first wave of magnums, though.  How much
was the phone bill, m'lady?


Start Date: 4/16/01; HourAhead hour: 14;  No ancillary schedules awarded.
Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041614.txt

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 14 / Preferred:   5.76 / Final:   5.75)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE2
  MKT_TYPE: 2
  TRANS_DATE: 4/16/01
  SC_ID: EPMI
$$$ Variance found in table tblLoads.
     Details: (Hour: 14 / Preferred: 137.52 / Final: 137.52)
  TRANS_TYPE: FINAL
  LOAD_ID: SDG1
  MKT_TYPE: 2
  TRANS_DATE: 4/16/01
  SC_ID: EPMI


Baby, I'm going to San Francisco on Aug 14?(Sunday) returning Wednesday.
Wanna go??


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/26/2001
10:41 AM ---------------------------

"Walkup, David C (HOUSTONAS AS 582)" <dwalkup@pclient.ml.com> on 02/26/2001
09:23:15 AM
To: "'Vincent Kaminski'" <vkamins@enron.com>
cc:
Subject: Review meeting

Hello, Vince.

Quick update on the transfers.  They are in process and they will hopefully
start rolling in around Friday, 3/2.

When would you like to get together to discuss some equity investment
opportunities?
David C. Walkup
Sr. Financial Consultant
713-658-1685
800-456-9712
____________________________________________________________

CAUTION: Electronic mail sent through the Internet is not secure and could
be intercepted by a third party.  For your protection, avoid sending
identifying information, such as account, Social Security or card numbers to
us or others.  Further, do not send time-sensitive, action-oriented
messages, such as transaction orders, fund transfer instructions, or check
stop payments, as it is our policy not to accept such items electronicall


Jeff,

Could we set up an inspection for this Friday at 2:00?

Listing for Burnet is in the mail

Phillip


The attached file contains our daily volume requirements for   3/31 thru 4/3
.    There are two worksheets:  The one labelled with today's date contains
the
volumes that we need at each of the delivery points indicated.   The
schedulers
will want to check this sheet to see how much gas is needed at a specific
point.    The AGL volumes are not current and should be ignored.

The sheet labelled 'Daily Change' shows the change (increase +/decrease -) in
the requested daily volume relative to a prior value.  For the current gas
day,
the change is an intra-day change and is calculated using the previous day's
volume request for the current day (e.g., If the current gas day is 3/28, then
the change is computed with respect to the 3/27 request for 3/28).  For
tomorrow's gas day and any subsequent ones shown, the change is computed using
the First-of-the-month volumes requested for those days.  (e.g., If today is
3/28, then the change for 3/29, 3/30, etc. is computed with respect to the
first-of-the-month volumes for those days.)   This sheet should be useful in
determining prices for daily changes in gas volumes that we take or turn back.

Doug Kinney
Ph:  703-561-6339
Fax:  703-561-7317

 - 03-31-00daily volsAM.xls


Dolores, this is the call to Ken that we talked about.   I appreciate Mark
handling this for him.

{Bob Abboud called. He would like to talk to you about a refinery in
California.  &Pat Robertson bought it.  He has the basic capital.  We have
the financing lined up.  We need a $10 million investment by an industry
participant to validate to the Swiss insurance company that is putting up the
financing.8  847-639-0101 }

Thanks.

Rosie


FYI.  These are the items I left Ken a voicemail about.
---------------------- Forwarded by Steven J Kean/HOU/EES on 12/15/99 05:29
PM ---------------------------

Carolyn Cooney@ENRON
12/15/99 12:11 PM

To: Steven J Kean/HOU/EES@EES, Joe Hillings/Corp/Enron@ENRON, Cynthia
Sandherr/Corp/Enron@ENRON
cc: Maureen McVicker/HOU/EES@EES, Elizabeth Linnell/HOU/EES@EES
Subject: Governor Ridge might call Ken Lay today

I just received a call from Bob O'Dell (215-569-5312) following up on the
request from Mayor Edward Rendell regarding the upcoming Millennium
Philadelphia's Light and Laser Show and Philadelphia 2000.  The Mayor has
asked Enron for a $750,000 commitment.  As outlined in my December 6th memo
-- the breakdown of the commitment was for Enron to contribute $500,000 for
the Millennium Philadelphia's Light and Laser Show on December 31, 1999.  The
$250,000 would be credited to Philadelphia 2000 Convention package.  The
Mayor and Mr. Lay have spoken several weeks ago but no commitment was made at
the time.  Will we be sponsoring the event?

Also, Bob gave us the heads up --- that Governor Tom Ridge (R-PA) will be
calling Ken Lay this afternoon to ask Mr. Lay to be the chair/co-chair of the
Republican Governors Association dinner that will be held in Washington, DC
in February 2000.

Please let me know if you need additional information.

Thank you.


Nov 14 workS for me.  Ava please put on my calendar.  Gary I will call you when I get back in the office.  Thanks Lynn
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)

-----Original Message-----
From: Anderson, Gary E. <Gary.Anderson@ENRON.com>
To: Blair, Lynn <Lynn.Blair@ENRON.com>
CC: Stern, Ellis <Ellis.Stern@ENRON.com>; Sims, Peggy <Peggy.Sims@ENRON.com>
Sent: Mon Oct 29 09:29:00 2001
Subject: RE: Gas Logistics Presentation

How about November 14 at say 1:00 if that works for you ?

		 -----Original Message-----
		From: 	Blair, Lynn
		Sent:	Friday, October 26, 2001 12:41 PM
		To:	Anderson, Gary E.
		Cc:	Stern, Ellis; Blair, Lynn
		Subject:	RE: Gas Logistics Presentation

			Gary, would one of the following dates and times work for you and your group?

				November 1 - in the afternoon
				November 13 - in the morning
				November 14 - in the afternoon

			Please give me a call and let me know if any of these work.  I am assuming you planning
			on 1 hour?  Is that right?  Thanks. Lynn

			 -----Original Message-----
			From: 	Anderson, Gary E.
			Sent:	Tuesday, October 23, 2001 1:14 PM
			To:	Blair, Lynn
			Cc:	Stern, Ellis
			Subject:	Gas Logistics Presentation

			Caroline Barnes has indicated that you have a presentation put together that briefly covers the purpose and function of  Gas Logistics, and how this department  interacts with other departments. I was wondering if you would be interested in making the presentation to GMS personnel to better understand how Measurement impacts your department. Please let me know if you have an interest and when you might be available and  I?ll arrange for the conference room to be available.
			Thanks-
			Gary


I have no idea what this means. Please explain.


I didn't get your fax last week.  I was out sick so I didn't call Shirley.
Could you resend it?

Thanks,

Kay


Please see appointment list attached below:

KES Kingsburg L.P. (QF?)
City of Palo Alto (pension holdings?)
Enron Corp & Affiliates
State of Tennessee (pension holdings?)
Dynegy Power Marketing, Inc.
The Davey Tree Co. (vendor)
GWF Power Systems (QF)
U.S. Bank (Trustee on PCB's)
Merrill Lynch (CP holder?)
The Bank of New York (Bond Trustee)
Bank of America (Agent on revolver)

 -----Original Message-----
From:  "Johnson, Stephen" <Stephen.Johnson2@usdoj.gov>@ENRON
[mailto:IMCEANOTES-+22Johnson+2C+20Stephen+22+20+3CStephen+2EJohnson2+40usdoj+
2Egov+3E+40ENRON@ENRON.com]
Sent: Tuesday, April 10, 2001 7:52 PM
To: Johnson, Stephen; 'jmhpower@aol.com';
'grant_kolling@city.palo-alto.ca.us'; Tribolet, Michael;
'tmilne@mail.state.tn.us'; 'john.c.herbert@dynegy.com';
'david.adante@davey.com'; 'pmar@mofo.com'; 'keith.marshall@usbank.com';
'mlurie@exchange.ml.com'; 'gbush@bankofny.com';
'clara.strand@bankofamerica.com'
Subject: RE:

I'm pretty sure the form was left off....

 -----Original Message-----
From:  Johnson, Stephen
Sent: Tuesday, April 10, 2001 5:49 PM
To: 'jmhpower@aol.com'; 'grant_kolling@city.palo-alto.ca.us';
'michael.tribolet@enron.com'; 'tmilne@mail.state.tn.us';
'john.c.herbert@dynegy.com'; 'david.adante@davey.com'; 'pmar@mofo.com';
'keith.marshall@usbank.com'; 'mlurie@exchange.ml.com'; 'gbush@bankofny.com';
'clara.strand@bankofamerica.com'
Subject:

Stephen L. Johnson
Attorney
United States Department of Justice
Office of the U.S. Trustee
250 Montgomery Street, Suite 1000
San Francisco, CA 94104

415-705-3333 tel.
415-705-3379 fax
stephen.johnson2@usdoj.gov

 - Appointment of Committee.pdf