Tana:

No change to profiles for Cinergy or Dyngegy w/r/t US physical power.

NUI Energy Brokers, Inc. is NOT authorized to trade US power - restricted by
credit

Leslie


John,

Sorry about taking so long to get back to you on this.  Re:  sample master
agreements...we recently had a group meeting where we were discouraged to
send out sample masters.  What appears to be happening is that a customer
gets a sample master w/no credit, and then when we finally send them a real
master w/credit, they are somewhat hacked off because the end up being
incredibly longer once credit is added.

If possible, can we not talk to Credit about sending them a real master?  Let
me know your thinking...

	John Malowney
	08/23/2000 10:20 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: RE: Sample ISDA

Tana, would you please e-mail a sample ISDA to Mr. Ray Cunningham of Exxon
and let me know when you've done so.   Thanks again !!    John
---------------------- Forwarded by John Malowney/HOU/ECT on 08/23/2000 10:26
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  <ray.cunningham@exxon.com>                           08/23/2000 06:48
AM

To: John.Malowney@enron.com
cc:
Subject: RE: Staying in touch

Thanks for keeping in touch.  We purchased an indexed product.
Tell me more about your financial offering.  I am interested.

> -----Original Message-----
> From: John Malowney [SMTP:John.Malowney@enron.com]
> Sent: Tuesday, August 22, 2000 6:25 PM
> To: ray.cunningham@exxon.com
> Subject: Staying in touch
>
>
>
> Ray, it's been sometime since we've spoken, I just want to touch bases with
you
> and see if there was anything we might be able to do.  I could not remember
if
> you purchased a fixed price and indexed price product and if so had any
interest
> in financially fixing the price.  If so or if I can be of assistance on
another
> front please do not hesitate to contact me.   Thanks,   John
>


I got this from Stewart today......
----- Forwarded by Mark Taylor/HOU/ECT on 05/08/2001 10:35 AM -----

	Stewart Rosman/ENRON@enronXgate
	05/07/2001 05:47 PM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc:
		 Subject: Legal Question

Mark -

I have a legal question for you.  I was told recently that Carol St Clair was
going to help support the West Trading desk on physical transactions.  Since
she came from the financial legal group I was wondering if she would be able
to help with financial transactions as well.  I feel there are synergies to
having the same Enron lawyer represent us for both the EEI and ISDA.  A
recent example of this could be the SMUD relationship.  Carol recently
completed an amendment to the existing ISDA and now is looking at sending
them a EEI.  The SMUD credit and legal personnel are the same so the process
should be quite smooth.  I was interested in your thoughts on this.  You can
reach me by phone (503-464-3810) or email.  Thanks.

Stewart


Please see Max's e-mail below.

 -----Original Message-----
From: 	Sonnonstine, Max
Sent:	Monday, November 19, 2001 3:34 PM
To:	Heard, Marie
Subject:	Forest and Noble Gas

Marie,
	Since Jay is out this week, I'll be "working" on the master netting for Forest Oil and Noble Affiliates.  When these are ready to go out please send a copy to me so I can advise the counterparties.  Thank you.

Max


---------------------- Forwarded by Chris Germany/HOU/ECT on 12/30/99 10:23
AM ---------------------------

jedwards@columbiaenergygroup.com on 12/30/99 09:17:39 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Stingray Agency

We are agent for Enterprise, Petsec, and Pennzoil (Devon) on Stingray.  Petsec
and Pennzoil (Devon) are filling out the appropriate forms and should send to
you for your signature today.  There in nobody at Enterprise to sign the
form.   I am still working with Stingray regarding the agency between Enron
and
CES.  I thought this was taken care of but maybe not.  I am working with a
backup that is confusing.  I will follow up.  In summary, I think Enron will
have to nominate on CES contracts because I do not feel all this will get done
today.  Especially, Enterprise Oil.

Janet


Sue --

Earlier this week, you received an email from the PEP team which included the
Performance Evaluations of your employees, both Exempt and Non-Exempt.
Please remember that the final Performance Evaluations should be completed
with your employees, forms signed and returned to me at EB1665B no later than
Friday, August 17th.

For your Non-Exempt employees, I have litsed below all eligible employees for
whom you should complete a Performance Evaluation.  However, I need the
rating for each employee so it may be input into the PEP system.  The
descriptions for Non-Exempt ratings are defined as:

1 - Consistently performs above expectations
2 - Meets expectations
3 - Does not meet expectations

Please indicate the ratings for each of your non-exempt employees below and
return to me no later than Wednesday, July 11, 2001.

NAME  TITLE  SUPERVISOR  DEPARTMENT  HIRE DATE MY2001 RATING

Alamo, Joseph Sr. Admin Asst Susan Mara  Government Affairs 5/17/1999
______________

If you have any questions or need any additional information, please do not
hesitate to contact me.

Thanks for your prompt attention to this matter.
Jo Ann Hill
Ext. 3-0363


Please see the attached statement from Public Relations -

Assistants:  Please make sure your direct reports receive a copy of this e:mail.

FYI- we issued the attached release this morning. I know our govt affairs teams will have lots of questions and will probably be asked several questions.  Unfortunately, given the legal nature of this inquiry, we cannot say anything more than this at this time.  We are asking our folks not to engage in conversations or opinion related discussions about this.  Also, Ken Lay will be discussing this at an employee meeting tomorrow morning.  It would be a good idea for everyone to tune in, if possible (or review the playback later in the day.)

I am also attaching a brief INTERNAL Q&A about the SEC request- just to give a little more information.

Thanks-
Meredith Phiipp
Public Relations


Louise,

I would like to chat regarding Netco's risk group and your anticipated role for me on this team.   Let me know when you have a chance to discuss.

Bill


Here is the Dow Jones article...

---------------------- Forwarded by Eric Thode/Corp/Enron on 11/21/2000 02:54
PM ---------------------------

	From:  Ann M Schmidt                           11/21/2000 02:35 PM

To: Mark Palmer/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Meredith
Philipp/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Elizabeth
Linnell/NA/Enron@Enron, Eric Thode/Corp/Enron@ENRON, Laura
Schwartz/Corp/Enron@Enron, Jeannie Mandelker/HOU/ECT@ECT, Mary
Clark/Corp/Enron@ENRON, Damon Harvey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Keith Miceli/Corp/Enron@Enron, Richard Shapiro/NA/Enron@Enron, James D
Steffes/NA/Enron@Enron, Iona Maclean/LON/ECT@ECT, Katy Lomax/LON/ECT@ECT,
Vance Meyer/NA/Enron@ENRON, John Ambler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Peggy Mahoney/HOU/EES@EES
cc:

Subject: DJ Enron, Powerex Investigated For Alberta Price Fixing

=DJ Enron, Powerex Investigated For Alberta Price Fixing
11/21/0 15:31 (New York)

      By Cheryl Devoe Kim
      Of DOW JONES NEWSWIRES

  TORONTO (Dow Jones)--Canada's Competition Bureau raided the offices of Enron
Canada Corp. in Calgary and Powerex Corp. in Vancouver earlier this year as
part of an investigation into suspected electricity price fixing by the two
companies, according to documents obtained by Dow Jones Newswires.
  Bureau investigator David Bloom alleges in an application for a warrant he
used to gain access to the offices that in the summer of 1999, Powerex and
Enron were coordinating bid restatements and inflating the price each received
for electricity as they traded on the Power Pool of Alberta.
  The investigation hasn't yet produced any charges against either of the
companies, according to Enron. The Competition Bureau declined to comment on
the status of the case.
  Both Enron Corp. (ENE), which owns Enron Canada, and Powerex, a unit of
provincially owned British Columbia Hydro & Power Authority (X.BCH), deny
breaking any rules or laws.
  From Powerex's point of view, Albertans are looking for someone to blame for
high power prices, which have become a political issue in the province.
  "They just find it easy to blame us for what are pretty fundamental market
design flaws," Powerex president and chief executive Ken Peterson told Dow
Jones Newswires in an interview.
   Deregulation Spurs Search For Someone To Blame
  The search for someone to blame has repeated itself across every
deregulating
market Enron has participated in, Enron Corp. spokesman Mark Palmer said.
  "Almost every time that either power markets or natural gas markets or even
oil markets or gasoline markets have experienced any kind of price volatility,
there have been investigations done," Palmer said.
  Enron has been scrutinized before as part of wider energy markets
investigations, he said, but never found to be breaking the rules. This is the
first such investigation into Powerex's actions, Peterson said.
  The Competition Bureau, based in Ottawa, won't say whether the investigaion
is ongoing, citing disclosure rules under the Competition Act.
  The companies themselves said they're not sure of the investigation's
status.
Their seized files were returned several months ago, but Powerex hasn't heard
from the Bureau since then. Enron did receive a call from the Bureau last week
with a question, according to Enron Corp. spokesman Eric Thode.
  The investigation began when the Power Pool of Alberta's system controllers
noticed the clearing price for a megawatt of electricity was topping C$100
with
unusual frequency.
  The Pool's price is set by participants submitting bids to buy or sell power
for the following day. Until Oct. 19, 1999, a bidder could restate the amount
of power in a bid or offer an unlimited number of times, until 20 minutes
before the hour of transmission. The price paid for every megawatt of power
needed by the Pool in a given hour is set by the most expensive unit needed to
meet demand.
   Alleged Bid Rigging Methods Detailed
  According to the Competition Bureau search warrant application, Powerex and
Enron were rigging their bids in the following manner:
  Powerex would lower the volume of an existing offer. As little as two
minutes
later, Enron would increase its offer for the same period by the same volume,
but at a "significantly higher price," according to the warrant application.
Sometimes, Enron would increase its offer even before Powerex had dropped its
offer.
  Power Pool market analyst Owen Craig, who once worked in Enron Canada's gas
trading group, found that "as a result of restatements, involving mostly
Powerex and Enron," the Pool price was raised once to C$200/MWh, four times to
between C$354.29 and C$499.93, three times to between C$500 and C$541.63, and
10 times to between C$801.02 and C$998.
  Based on the restatement patterns, Craig, and then the Bureau's Bloom,
concluded that no new energy was being offered to the Pool. They believed the
power was just being transferred from Powerex to Enron and then offered at the
higher price, according to the warrant application. By cutting the volume
offered by Powerex, the more expensive power offered by Enron would likely be
needed, and every participant would get the higher price.
  Powerex's Peterson doesn't take issue with the trade history as detailed by
the Bureau, but denies that the company's traders were doing anything wrong or
that the two companies had some sort of arrangement.
  "And we're adamant about that," Peterson said. "There was no deal with
Enron.
There was no expectation about what their behavior would lead to in terms of a
change in prices or anything like that."
  Powerex traders were merely locking in their price, cutting the company's
risk, which Enron agreed to take on by buying the power at a fixed price,
Peterson said.
  "Whenever Enron's offer of high-priced energy was declined, within moments
of
Enron being advised by the Pool that their energy would not be required,
Powerex would restate an identical volume of energy back into its lower priced
unit," according to the warrant application.
  Peterson's response: "We're operating in a very tight market there and we
felt an obligation to make sure the power got delivered into Alberta."
  Enron also denies it broke any Power Pool rules or Canadian laws.
  "It boils down to we were offered power at a price lower than we thought we
could sell it at," Enron's Thode said. "And that's what Enron and every other
company does that's in the business of trading."
  The May 25 search warrant covers the companies' actions between June 1,
1999,
and Oct. 19, 1999. On Oct. 20, 1999, the Pool changed its restatement rules,
essentially closing the loophole, though it did so without ever making public
its investigation into Powerex and Enron.
  Power Pool spokesman Wayne St. Amour declined to discuss details of the
investigation.
  "Market surveillance is in place to, among other things, protect the
interests and activities of market participants," he said.
  Those convicted under Canadian law for bid-rigging can be fined an amount at
the court's discretion and/or jailed up to five years. A conviction wouldn't
likely affect Powerex's ability to trade in the U.S., Peterson said. In Canada
"there would have to have some follow-on action by the Alberta parties to
inhibit that. And so far, they still like to get our power."
  Companies Concerned About Reputations
  The bigger problem, Peterson said, is what the case will do to the Powerex
reputation.
  "Essentially both companies are concerned about it because we have a lot at
stake from a reputational point of view," Peterson said. "Both companies, I
believe, conduct themselves in the highest possible standard. But these are
difficult times in the business with prices going crazy in Alberta and
California and people looking for somebody to blame. There's always a
possibility of collateral damage when politics gets involved."
  Powerex parent company BC Hydro is also suspected by the Power Pool of
Alberta of unfairly providing access to transmission through British Columbia,
linking Washington with Alberta, as detailed in an Oct. 13 Power Pool market
surveillance report. Again, no charges have been laid.

  Company Web sites: http://www.powerex.com, http://www.enron.com

  -By Cheryl Kim, Dow Jones Newswires; 416-306-2017; cheryl.kim@dowjon


Please see today's "Houston Chronicle" (http://www.chron.com) for the following stories.

Turnaround specialist picked as interim CEO for Enron
<http://www.chron.com/cs/CDA/story.hts/special/enron/1229693>

Bush's State of Union address targets corporate irresponsibility
<http://www.chron.com/cs/CDA/story.hts/special/enron/1229660>

President backs refusal to surrender energy files
<http://www.chron.com/cs/CDA/story.hts/special/enron/1229352>

Andersen chief says firm will survive
<http://www.chron.com/cs/CDA/story.hts/special/enron/1229293>

Wife: Lay did no wrong but couldn't stop crash
<http://www.chron.com/cs/CDA/story.hts/special/enron/1229405>

Energy companies' accounting goes under microscope
<http://www.chron.com/cs/CDA/story.hts/special/enron/1229299>

Fraud laws help shield accountants, lawyers
<http://www.chron.com/cs/CDA/story.hts/special/enron/1229308>

Army official under scrutiny over ties to company
<http://www.chron.com/cs/CDA/story.hts/special/enron/1229387>

Retirement plan focus of lawsuit
<http://www.chron.com/cs/CDA/story.hts/special/enron/1229336>

Jackson meets with Lay about workers' plight
<http://www.chron.com/cs/CDA/story.hts/special/enron/1229381>

Hanover dodging Enron aftermath
<http://www.chron.com/cs/CDA/story.hts/special/enron/1229412>

Enron briefs
<http://www.chron.com/cs/CDA/story.hts/special/enron/1229289>


Support the credit position, but would add that should NOT be open for East
Power.

	From:  Tana Jones @ ECT                           03/16/2001 11:52 AM

To: Marcus Nettelton/NA/Enron@ENRON
cc:

Subject: RE: Bonneville Power Administration

---------------------- Forwarded by Tana Jones/HOU/ECT on 03/16/2001 11:49 AM
---------------------------
From: Tom Moran/ENRON@enronXgate on 03/16/2001 08:39 AM
To: Tana Jones/HOU/ECT@ECT, Walter Guidroz/ENRON@enronXgate
cc:
Subject: RE: Bonneville Power Administration

The only restriction is coming from our cautious, power credit team wanting
to only sell to BPA at this time.

 -----Original Message-----
From:  Jones, Tana
Sent: Thursday, March 15, 2001 6:43 PM
To: Guidroz, Walter; Moran, Tom
Subject: Bonneville Power Administration

Taking a look at BPA from the 3/8/01 list, I noticed that we've got them
opened up for west coast power only on the offer and not the bid.  I have no
notes that they are restricted in that manner.  What's the scoop?  Marcus, do
you see any reason they should be restricted to the offer side?


There will be two presentations tomorrow from UBS commencing at 2:30 p.m. (CST).  These will be held in ECS 06980 and the conference dial-in numbers are listed below.

				2:30 p.m.	Bill Glass & Bill Bradford - Credit
				3:00 p.m.	Alex Fusco - New Business Guidelines

Dial-in #		800.486.2726
Host code	353763 (Louise)
Participant	547763

Many Thanks,

Liz Taylor
Assistant to Greg Whalley
713.853.1935 office
713.853.1838 fax
713.854.3056 mobile


This is basically how it was handled last year, except they are splitting Orig and Trading.  Regarding Assistants - we need to provide them the bonus targets rather than OOC just deciding.  Regarding noncommercial - again, we need to provide the targets (as we discussed earlier this week).

The biggest issue we have is how to use GCS and avoid the manual excel spreadsheet-GCS-excel spreadsheet exercise we went through last year.  We are working with Jeanie Slone and GCS team on this.

VP's have to go through the final Corp-wide PRC, so that is one more step for the VP's and the ENA meeting outcome should be consistent with how all are rated going into the final meeting (ie., 10/80/10, 1-100).

Sheila

 -----Original Message-----
From: 	Oxley, David
Sent:	Tuesday, October 16, 2001 4:36 PM
To:	Knudsen, Sheila A.; Joyce, Mary; Jones, Robert W.- HR Exec
Cc:	Cash, Michelle
Subject:	FW:

What d'ya think?
 -----Original Message-----
From: 	Lavorato, John
Sent:	Tuesday, October 16, 2001 2:40 PM
To:	Oxley, David
Subject:	FW:

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Tuesday, October 16, 2001 2:38 PM
To:	Lavorato, John
Subject:	RE:

Same thing just prettier and with more details.  Suggest we send to HR for them to implement.

 << File: PRCprocess.xls >>

 -----Original Message-----
From: 	Lavorato, John
Sent:	Tuesday, October 16, 2001 1:17 PM
To:	Kitchen, Louise
Subject:

Here is our plan on PRC.

Assistants:

Ranked 1,2,3 by supervisors - pay determined by Me and Louise.  No meetings.

Non Commercial but in North America:

Traditional ranking with the correct people addending the meetings.  Pay grid determined by OOC.

Analysts and Associates

Ranked as per Billy Lemmons %'s and then pay grid determined by OOC
I would like to see 25% - 65% - 10%.  Billy disagrees.  This would provide for a quick meeting rather than trying to split them into 4 groups with the top one excluding some awesome people.

Managers/Directors

Ranked from 1 to 100 in as many clusters as the groups see fit.  We are going to combine managers and directors into one table.  The ranking is based on this years performance is directly related to pay.  We will have two meetingss - one for traders and one for other commercial staff (orig/finance/etc).  We will not have a pay prc but will take the results of the rankings and work with individual leaders after the meetings to ensure the appropriate compensation.

We will also determine promotions during this meeting using different criteria.

VP's

We will rank all our VP's from 1 to 100 with a group of selected people - some VP's and some MD's.
This too will be directly related to pay.

Cheers as you Brits say


---------------------- Forwarded by Kay Mann/Corp/Enron on 05/30/2001 10:03
AM ---------------------------

Rhonda L Denton@ECT
05/24/2001 02:34 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Indeck Pepperell


Happy belated Thanksgiving, everyone.

I am sorry to have taken so long to send you this Stacey report. I was down
in Corpus this past Tuesday and Wednesday and then up to Huntsville for
Thanksgiving with my folks, and just returned home this afternoon (Saturday).

Stacey is OUT of the comma!!!!!!! She emerged from it last Sunday. Needless
to say, Carolyn and John are just beside themselves. While I was with them on
Wed. morning, I was able to watch Stacey in her rehab and got to see her
write her name with her left hand. She also, just before I arrived, said
"Momma".  Guess What? I have really seem firsthand the miracle that we have
all been praying for.

I must admit that I was somewhat teary-eyed watching this precious little
girl do things that no one was sure that she would ever do again.  But, there
is still a long way to go.

Stacey's right arm is just kind of hanging from muscle atrophy. And, it is
giving her a lot of pain. (The good thing is that now she can tell the
doctors where the pain is located!) Also, it is going to take several more
months of rehab before she can go home. So, keep the prayers going.

As I entered the room, there was a man there who was leaving. Last December,
he was in an accident that left him in the same shape as Stacey. But now, he
is fully recovered. He came to the hospital because he had seen an article in
the Corpus Christi newspaper about Stacey. He said that he felt that he just
needed to let the family know that there really is hope and that you really
can fully recover. WOW! Does God have a sense of timing or what?

Carolyn wants everyone to know how much she loves you all and appreciates
your concern and your prayers. The hospital let them use a large room for
Thanksgiving Day dinner. They were even going to let Stacey have some of the
food with them. Talk about a Thanksgiving?

Folks, I must tell you that this has been exciting for me to see this miracle
unfold. I have enjoyed hearing from Carolyn and being able to report these
things to all of you. I wish that all of you could get to go and see these
people that we have all prayed for these past few months. It has been quite
an emotional deal for me to have seen a child that no one was sure would even
live and now see her awake and recognizing people around her and laughing and
crying and writing her name. Thanks for what you have done for her through
your prayers. And thanks for allowing me to send you these updates and to be
your eyes and ears. But, as I said earlier, we don't stop here. It's not over
until Stacey is 100%, and she will be! I will stay in touch with Carolyn and
keep you updated.

We do have much to be thankful for this year.  So, let's thank Him who is the
giver of all the good and perfect gifts, even life itself!

Be Blessed!
Kent


---------------------- Forwarded by Hunter S Shively/HOU/ECT on 08/07/2000
01:35 PM ---------------------------

"Darshan Patel" <dpatel@hearme.com> on 08/05/2000 04:00:50 AM
Please respond to "Darshan Patel" <dpatel@hearme.com>
To: <jmcafee@hearme.com>, <Hunter.S.Shively@enron.com>, <sdeitle@hearme.com>
cc:
Subject: mic volume going down

Brent,
?
There is a way to stop the gain control from  automatically adjusting. The
parameter that needs to be modified in?the  html file is UseAutoGainControl.
It needs to be set to FALSE. This will stop the  volume from going down on
Hunter's and Patrice's clients.
?
Darshan.
?
?
?
----- Original Message -----
From: Corey Gates
To: Darshan Patel ; voice-support@hearme.com
Sent: Friday, August 04, 2000 7:39 PM
Subject: Re: mic volume keeps going down

You might try turning off AGC (set  UseAutoGainControl to FALSE) in the
HTML.? This should stop the mic volume  from changing.? Also check if AGC is
set in the sound card.
?
Corey
?
?
?
?
----- Original Message -----
From: K. Yoshida
To: Darshan Patel
Sent: Friday, August 04, 2000 6:43 PM
Subject: RE: mic volume keeps going down

Darshan,
?
Perhaps:
??? if the client is set such that the  property
???????  UseAutoGainControl=TRUE
??? then the client is attempting to adjust the microphone level
automatically.
??? A guess on my part is that if the sound card is somehow unable  to
automatically adjust the mike level, then an error such as the one described
could occur (?).
?
??? Could this be the case here?
?
-Kyle  Allen Yoshida
Technical Suport Engineer

kyle@hearme.com
x-3794


I would talk to your manager first.  But, still schedule a meeting with Sheila in HR just to get her opinon of your situation.

Dorothy Dalton
Office of the Chairman
Enron Broadband Services
1400 Smith Street, EB4505
Houston, TX  77002
713-853-6724 - direct
713-853-9469 - fax

	Dana Davis/ENRON@enronXgate 03/27/01 07:57 AM 	   To: Dorothy Dalton/Enron Communications@Enron Communications  cc:   Subject: Good Morning

	Quick question.  I need to know what your suggestion is again.  I should talk to my manager 1st and then set up a meeting with an informative type meeting with HR?


Yes.  And she handed out last time's mid-term.  It was take home at that time, though.  It's open book; we have the whole time, but she said it should take about 90 minutes (which means that it will take me the whole time).  You want me to fax it to you?  Check the website first. It may be posted there.

-----Original Message-----
From: Joseph Tambornino [mailto:josephtambornino@yahoo.com]
Sent: Wednesday, October 10, 2001 5:43 PM
To: Dasovich, Jeff
Subject: Yesterday's Class

Hey Jeff,

I had to miss last night's class, as you may have
noticed.  Were there any notes, handouts, sample
questions, etc for next week's exam?

Thanks,

JT

=====
Joseph Tambornino
Vice President
Hall Equities Group
(925) 933-4000

__________________________________________________
Do You Yahoo!?
Make a great connection at Yahoo! Personals.
http://personals.yahoo.com


Do you want me to send these to Joan Quick?

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


Gentlemen:

Attached please find a data request.

-Tom-


-----Original Message-----
From: 	Lebrocq, Wendi
Sent:	Wednesday, October 24, 2001 5:31 PM
To:	Bradford, William S.; Lees, Lisa; Fayett, Juana; Le, Trang; Maley, Paul; O'day, Karen; Rohauer, Tanya; Lombardi, Kelly; Lindsay, Brian; EOL Call Center; Hare, Bill D.; Heffernan, Amy; Lafuze, Molly; Clark, Danny; Panus, Stephanie; Mandola, Teresa; Ebow, Amber; Coleman, Tandra; Campbell, Lesli; Lebrocq, Wendi; Taylor, Mark E (Legal); Lauer, Kara; Banner, Kimberly; Mcquade, Jennifer; George, Fraisy; Guillory, Michael; Rajaram, Aparna; Monterrey, Maribel; Lebeau, Maria; Escamilla, Albert; Lebrocq, Wendi; Global Emerging Businesses; Lambert, Karen; Jones, Tana; Schott, Samuel; Brackett, Debbie R.; Clark, Cynthia; Enron Europe Global CounterParty,; Sever, Stephanie; Moran, Tom; Clark, Claudia; Curry, Ken
Subject:	EOL and Clickpaper Approvals for 10-24-01

Please see attached.

Regards,

Wendi Lebrocq
3-3835


From Jack:

?
?

Houston  Christian Business Group

South  Tower - Pennzoil Place

711  Louisiana Street, Suite 1740

Houston,  Texas?  77002

?August 28, 2000

??

Gentlemen:

Our next meeting will be held on  Thursday, September 7th, at 7:30 a.m. in
the Pool Room at River Oaks Country  Club, our normal meeting room.? How  are
you doing on the resolutions you wrote out in our January meeting?? Summer is
almost over but there is still  time to accomplish what you set out to do.

Please confirm your attendance  (positive responses only) by e-mailing Sharon
(skimmel@iexalt.net) or phoning  713-223-5801.? When you respond,  please let
me know if you want the usual buffet or the &healthy hearty8  meal.? The
$11.00 cost will be  collected at the door.? There is no  charge for
first-time guests.

Take time out of your busy  schedule to recharge your spiritual batteries.?
If you can, come a few minutes early to  visit.

??? ???  ??? ???  ????????????????????????????????????????????????????????
In His name,

???????????????????????????????????????????????????????????????????????  Jack
I.  Tompkins

?

Attention:?????? Need  someone to talk to regarding your plans, ideas,
dilemma?? Contact a Prayer Board member:

?

Barry Flynn

	Bob  Dietz

		David  Smith

			Jack  Tompkins

713-840-7474

	713-965-2112

		713-681-3611

			281.600.4000 ext  405

?

?

Please mark 7:30 a.m. HCBG for the  first Thursday of each month.

??

Behold, I stand at the  door and knock.

If  anyone hears My voice and opens the door,

I  will come in to him and dine with him, and he with  Me.

Revelation  3:20

Sharon


---------------------- Forwarded by Kay Mann/Corp/Enron on 12/19/2000 03:09
PM ---------------------------

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 12/11/2000 12:13:19 PM
To: "'gkutzschbach@fulbright.com'" <gkutzschbach@fulbright.com>,
"'areynaud@coral-energy.com'" <areynaud@coral-energy.com>,
"'dwhaley@coral-energy.com'" <dwhaley@coral-energy.com>,
"'TSeigler@coral-energy.com'" <TSeigler@coral-energy.com>
cc: "Keffer, John" <JKeffer@KSLAW.com>, "'Ben.F.Jacoby@enron.com'"
<Ben.F.Jacoby@enron.com>, "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>

Subject: LLC Agreement for CA Energy Development II LLC

Ladies and Gentlemen:

We have enclosed the initial draft of the LLC Agreement for CA Energy
Development II, LLC, marked to reflect revisions from the LLC Agreement for
CA Energy Development I, LLC circulated earlier today.  The enclosed draft
reflects my understanding that commercial operation of the transformer under
the ABB facility agreement and consent of ABB have no bearing on the timing
for exercise of the put and call provisions in Section 6.2.   The enclosed
draft is being furnished without prior review by ENA and is subject to
further revision based upon such review.   Please review the enclosed at
your earliest convenience and advise of any comments.   Thank you.

Carolyn M. Campbell
King & Spalding
713-276-7303 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>

Enclosure:    129344v1 (redlined from 128540v9)

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

 - 2r6kRED.DOC


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Discount Sportscard Co.
15411 Red Hill Ave.  Suite A
Tustin, CA 92780
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Ship To:
Jason Wolfe
2300 W Alabama Apt. 6

Houston, TX 77098
United States
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-----Original Message-----
From: 	Schmidt, Ann M.
Sent:	Friday, October 26, 2001 4:46 PM
Subject:	Enron Mentions

Enron Troubles Only the Tip of the Iceberg?
TheStreet.com, 10/26/2001

Under the Radar: Enron's Flickering Bulb
TheStreet.com, 10/26/2001

DJ Enron Unit,New England Market Downplay Report Of Default
Dow Jones, 10/26/2001

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN
Bloomberg, 10/26/01

Enron Executives Sent Requests for Details of Affiliate Profits
Bloomberg, 10/26/01

Enron Still Target in California Amid Other Problems (Update1)
Bloomberg, 10/26/01

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)
Bloomberg, 10/26/01

Keller Rohrback L.L.P. Investigates Potential Claims on Behalf of Enron Corp. -- ENE -- Employees and Former Employees
Business Wire, 10/26/01

Enron Troubles Only the Tip of the Iceberg?
By Peter Eavis <mailto:peavis@thestreet.com>
Senior Columnist
TheStreet.com
10/26/2001 05:23 PM EDT
URL: <http://www.thestreet.com/markets/detox/10003083.html>

Dealings with a related party have tarnished Enron's (ENE:NYSE - news - commentary) reputation and crushed its stock, but it looks like that case is far from unique.
The battered energy trader has done business with at least 15 other related entities, according to documents supplied by lawyers for people suing Enron. Moreover, Enron's new CFO, who has been portrayed by bulls as opposing the related-party dealings of his predecessor, serves on 12 of these entities. And Enron board members are listed as having directorships and other roles at a Houston-based related entity called ES Power 3.
The extent of Enron's dealings with these companies, or the value of its holdings in them, couldn't be immediately determined. But the existence of these partnerships could feed investors' fears that Enron has billions of dollars of liabilities that don't show up on its balance sheet. If that's so, the company's financial strength and growth prospects could be much less than has generally been assumed on Wall Street, where the company was long treated with kid gloves.
Enron didn't immediately respond to questions seeking details about ES Power or about the role of the chief financial officer, Jeff McMahon, in the various entities. Enron's board members couldn't immediately be reached for comment.
Ten Long Days
Enron's previous CFO, Andrew Fastow, was replaced by McMahon Wednesday after investors criticized Fastow's role in a partnership called LJM, which had done complex hedging transactions with Enron. As details of this deal and two others emerged, Enron stock cratered.
The turmoil that resulted in Fastow's departure began two weeks ago, when Enron reported third-quarter earnings that met estimates. However, the company failed to disclose in its earnings press release a $1.2 billion charge to equity related to unwinding the LJM transactions. Since then, investors and analysts have been calling with increasing vehemence for the company to divulge full details of its business dealings with other related entities. Enron stock sank 6% Friday, meaning it has lost 56% of its value in just two weeks.
Enron's End Run?
New financial chief's involvement in Enron business partners
Enron-Related Entity	Creation DateMcMahon Involved?

ECT Strategic Value Corp.4/18/1985	Yes
JILP-LP Inc.	9/27/1995	Yes
ECT Investments Inc.	3/1/1996	Yes
Kenobe Inc.	11/8/1996	Yes
Enserco LLC	1/7/1997	Yes
Obi-1 Holdings LLC	1/7/1997	Yes
Oilfield Business Investments1/7/1997	Yes
HGK Enterprises LP Inc.	7/29/1997	Yes
ECT Eocene Enterprises III Inc.2/20/1998Yes
Jedi Capital II LLC	9/4/1998	Yes
E.C.T. Coal Company No. 12/31/1998	Yes
ES Power 3 LLC	1/7/1999	Yes
Enserco Inc.	3/25/1999	No
LJM Management LLC	7/2/1999	No
Blue Heron I LLC	9/17/1999	No
Whitewing Management LLC2/28/2000	No
Jedi Capital II LLC	4/16/2001	No
Source: Detox
However, Enron has yet to break out a full list of related entities. The company has said nothing publicly about McMahon's participation in related entities, nor has it mentioned that its board members were directors or senior officers in ES Power 3. (Nor has it explained the extensive use of Star Wars-related names by the related-party companies.) It's not immediately clear what ES Power 3 is or does. So far, subpoenas issued by lawyers suing Enron have determined the names of senior officers of ES Power 3 and its formation date, January 1999.
Among ES Power 3's senior executives are Enron CEO Ken Lay, listed as a director, and McMahon and Fastow, listed as executive vice presidents. A raft of external directors are named as ES Power 3 directors, including Comdisco CEO Norman Blake and Ronnie Chan, chairman of the Hong Kong-based Hang Lung Group. A Comdisco spokeswoman says Blake isn't commenting on matters concerning Enron and a call to the Hang Lung group wasn't immediately returned.
Demands, Demands
Rating agencies Moody's, Fitch and S&P recently put Enron's credit rating on review for a possible downgrade after an LJM deal that led to the $1.2 billion hit to equity. Enron still has a rating three notches above investment grade. But its bonds trade with a yield generally seen on subinvestment grade, or junk, bonds, suggesting the market believes downgrades are likely.
If Enron's rating drops below investment grade, it must find cash or issue stock to pay off at least $3.4 billion in off-balance sheet obligations. In addition, many of its swap agreements contain provisions that demand immediate cash settlement if its rating goes below investment grade.
Friday, the company drew down $3 billion from credit lines to pay off commercial paper obligations. Raising cash in the CP market could be tough when investors are jittery about Enron's condition.
This week, a number of energy market players reduced exposure to Enron. However, in a Friday press release, CEO Lay said that Enron was the "market-maker of choice in wholesale gas and power markets." He added: "It is evident that our customers view Enron as the major liquidity source of the global energy markets."
McMahon reportedly objected to Fastow's role in LJM, allegedly believing it posed Fastow with a conflict of interests. But he will need to convince investors that the 12 entities he's connected to don't do the same. Enron has said that its board fully approved of the LJM deals that Fastow was involved in. Now, board members will have to comment on their own roles in a related entity.

Under The Radar: Enron's Flickering Bulb
By Christopher Edmonds <mailto:cedmonds@thestreet.com>
Special to TheStreet.com
10/26/2001 05:08 PM EDT
URL: <http://www.thestreet.com/comment/chrisedmonds/10003075.html>

While the bulb at Enron (ENE:NYSE - news - commentary) may not have burnt out, it's clearly flickering. To date, investors aren't sure whether Chairman and CEO Ken Lay is up to the task of re-energizing the company he once built to greatness.
What's happened at the Houston energy giant-turned-dwarf could've been imagined with any number of ne'er-do-well companies during the well-chronicled bubble. But this is Enron. As one longtime Enron bull and shareholder said, "I never had to worry about Enron's ability to survive until this week. I still find it hard to believe."
Peter Eavis has done an exceptional job of chronicling Enron's adventures for some time. If you'd listened to him earlier this year, you'd have profited from his knowledge. His reporting on Enron's partnership shenanigans to the departure of Chief Financial Officer Andrew Fastow has been outstanding.
The rumors -- from a pending bankruptcy to a Justice Department investigation -- are, for now, just that. And, Enron did not single-handedly cause the California power crisis, nor is Royal Dutch/Shell (RD:NYSE - news - commentary) about to make a bid to buy the company. Sources do tell me that head-count reductions are likely through employee buyout offers and the company is set to refocus on its core energy business. And, while former CEO Jeff Skilling shares culpability for the current mess, his departure appears only indirectly related to Enron's current woes.
Now, Enron faces the daunting challenge of rebuilding both its business and, more importantly, its reputation.
The Company's Challenge
But what does Enron do now? It's very simple. Come clean, clean up the mess and refocus on its core business: wholesale energy markets, risk management and retail energy services. They support each other and create a platform that can be plenty profitable without a lot of gimmicks.
"Our gut feel is that Enron can pull it off, and long-term investors should hold firm, as eventually the stock gets valued on earnings, with upside potential to $25 per share over the next 12-18 months," says Jeff Dietert, power analyst at Simmons & Co. and a member of the TSC Energy Roundtable. "We believe new money with high risk tolerance should wait until Enron announces its intentions for communicating a clear path to recovery."
Dietert outlines four challenges for Enron. One, management must regain the Street's confidence and persuade investors that it can resolve balance-sheet strength and generate the expected earnings and cash flow. Two, Enron must maintain its investment-grade credit rating. Three, Enron must successfully execute its divestiture plans. Four, Enron must control the timing of the recognition of the write-down in the value of any assets where market value is less than book.
Straightforward? Yes. Easy to accomplish? No.
Although Enron says additional write-downs are unlikely -- except a $200 million charge early next year as the result of an accounting change -- analysts aren't so sure. They're focused on the company's Global Assets portfolio, sporting $6 billion in book value but generating an EBIT (earnings before interest and taxes) loss of $18 million over the past 12 months.
The divestitures include $390 million in exploration and production assets in India, $250 million in a Puerto Rico power plant and $250 million in a Brazilian power plant in the fourth quarter as well as the pending sale of Portland General, which is set to close in 2002. There will likely be others. However, Enron has to execute here, and given the current state of its affairs, the seller will feel the pressure.
The credit-rating issue is a fine line. The current ratings, BBB+ from Standard & Poor's and Baa1 from Moody's, are three levels above non-investment grade. However, both rating agencies now have Enron on their radar screens for possible downgrades. Dietert estimates that Enron's debt-to-market cap will be about 48% by year-end, and the company has interest coverage (EBITDA/ interest expense) of about 3.5 times. By comparison, the average S&P BBB-rated company has a debt-to-cap of 47.4% and interest coverage of about 6.1 times. The average BB company has debt-to-cap of 61.3% and interest expense of 3.8 times.
Frankly, everything falls on Enron's management team and its ability to reassure investors. "If Enron's management does not step up to calm investor fears, these fears could become a self-fulfilling prophecy," Dietert says. "In the potentially vicious cycle, investor fears could drive stocks down; the lower stock prices force the rating agencies to consider downgrades; potentially lower credit ratings force counter-parties to reduce exposure to Enron, limiting Enron's ability to generate earnings and cash flow."
It's time for Enron to grow up. Despite a lot of uncertainties and risk, I think it will. Investors with risk capital should do their homework on the stock and think about strategy. It's a tough call that requires strict, individual discipline.
There's an irony to this whole story, especially in Enron's lack of candor in reporting its financial results. In a much-lauded advertising campaign, Enron, looking to challenge conventional wisdom, asks the simple question, "Why? Ask why."
Investors are now asking. It's time for Ken Lay to answer.
First Things First
Many readers have asked about my relative quietness this week. Thank you for your concern. My father has fallen ill after fighting the effects of a brain tumor for more than a decade.
The choice was easy. I'm with him and my family.
Enjoy your weekend with family and friends.

DJ Enron Unit,New England Market Downplay Report Of Default
2001-10-26 17:14 (New York)

   By Kristen McNamara
   Of DOW JONES NEWSWIRES

  NEW YORK (Dow Jones)--Enron Corp.'s (ENE) retail sales unit defaulted on its
credit requirement in New England's wholesale power market this month, but the
event was neither unique nor newsworthy, the energy company and the
organization that developed the market's rules said Friday.

  The operator of the region's wholesale power market informed Enron Energy
Services last week that, for the third time in 12 months, it had traded a
greater volume of electricity than allowed by the bond it had posted and was at
risk for expulsion from New England's market.

  But it was administrative mixups, rather than financial problems, that
triggered the warning, which a few other companies have also received in the
past, the market's rulemaker said.

  "I can state with considerable confidence that there have been other
participants" that have defaulted on their credit agreements, "and it's never
been in the news," said David Doot, secretary and general counsel for the New
England Power Pool, which developed the policies governing the region's
electricity market. "My instinct is that this is blown way the hell out of
proportion."

  News of the Enron unit's default appeared in a trade publication and a major
metropolitan newspaper this week, as Enron's dealings with partnerships headed
by its former chief financial officer contributed to a plunge in the company's
stock and bond prices.

  Enron Energy Services never received word that it had defaulted on its
bonding requirement twice before, because both times it corrected the problem
within a day, spokeswoman Peggy Mahoney said.

  The letter sent by ISO New England, which operates the region's power market,
to notify the Enron unit of its third violation was addressed to the wrong
person, delaying the company's response, Mahoney said.

  "Clearly, it was an administrative error that we immediately took care of to
ensure that we would never exceed the volume limit," Mahoney said.

  The company resolved the problem by Oct. 19, Mahoney said. ISO New England
spokeswoman Ellen Foley confirmed Friday that the company had cured its
default.

  It's rare for a company to default three times, but it has happened on
occasion, Foley and Doot said.

  "I won't say it's commonplace, but I won't say it's unusual for a participant
to find itself out of compliance," Doot said. "Those things have in fact
happened from time to time."

  -By Kristen McNamara, Dow Jones Newswires; 201-938-2061;

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN
2001-10-26 16:47 (New York)

Enron Lawsuit Over Microsoft Broadband Agreement May Block MSN

     Houston, Oct. 26 (Bloomberg) -- Enron Corp.'s lawsuit
alleging Microsoft breached a contract for broadband services
could temporarily block the largest software company's high-speed
Internet service in some U.S. regions.

     Microsoft said the dispute temporarily blocks the company
from providing the high-speed service in areas where Enron
provides broadband access, leaving MSN fully operational only in
the 14 states where Qwest Communications International Inc.
operates, said Bob Visse, director of marketing for MSN.

     Enron's lawsuit was filed yesterday. Microsoft had planned to
offer fast Internet access in 45 cities beginning yesterday to
give the largest software company access to potential customers in
29 million homes. Microsoft, the No. 2 U.S. Internet provider, is
making a push to win customers from AOL Time Warner Inc.

     ``We are trying to resolve the issues with Enron as quickly
as possible and at the same time we are evaluating other
providers,'' Visse said.

     Officials at Houston-based Enron, the largest energy trader,
did not immediately return calls for comment.

                         The Agreement

     Enron in June signed an agreement with Microsoft to provide
bandwidth for MSN Internet service. Under the agreement, Enron
isn't required to deliver operational broadband services if
Microsoft hasn't first provided a billing and ordering system, Dow
Jones newswire reported.

     Enron claims in its lawsuit that Microsoft failed to deliver
the ordering and billing system required in the initial phase of
the deal, Dow reported.

     Enron's lawsuit comes after Microsoft said in an Oct. 23
letter that Enron will have breached the contract if it hasn't
provided an operational bandwidth system by Oct. 25, allowing
Microsoft to recover damages.

     Shares of Redmond, Washington-based Microsoft fell 36 cents
to $62.20, while Enron shares fell 95 cents to $15.40.

--Joyzelle Davis in Los Angeles (213) 617-0582, or

Enron Executives Sent Requests for Details of Affiliate Profits
2001-10-26 15:36 (New York)

Enron Executives Sent Requests for Details of Affiliate Profits

     Houston, Oct. 26 (Bloomberg) -- Lawyers for a shareholder
suing Enron Corp. are asking executives of the largest energy
trader to disclose any income they made from their involvement
with affiliated companies that bought and sold Enron assets.

     Lawyers have made the requests to President Greg Whalley,
Vice Chairman Mark Frevert and Chief Financial Officer Jeff
McMahon and 83 other employees arrived at Enron's Houston offices
this week, said Paul Paradis, a partner in the New York law firm
Abbey Gardy. Requests also were sent to 17 Enron partnerships such
as Whitewing Management and Marlin Water.

     Paradis represents Fred Greenberg, an Enron shareholder who
is suing the company's board for allowing former Chief Financial
Officer Andrew Fastow to run partnerships that cost the company at
least $35 million in cash and $1.2 billion in lost shareholder
equity.

     The requests are aimed at determining if Enron executives
benefited financially from roles as officers and directors of
partnerships that bought and sold company assets. Enron formed at
least 18 such affiliated companies, listing executives and
employees as officers and directors of the partnerships, according
to Texas secretary of state records.

     Under Texas law, failure to respond to the document requests
will result in subpoenas being issued. Subpoenas could go out next
week if responses don't arrive by then, Paradis said. Enron
spokeswoman Karen Denne didn't respond to requests for comment
about the document requests.

     The executives earned no income from the partnerships, Enron
spokesman Mark Palmer has said. ``There are no financial interests
in the structures themselves for any Enron employee,'' Palmer
said. He said it's common for a company to name its executives to
the boards of affiliates.

                       Affiliates Have Debts

     Texas records show Chief Executive Officer Kenneth Lay,
Frevert, Whalley, McMahon and dozens of other people who list
their address as Enron's corporate headquarters serving as
officers and directors of limited liability companies and foreign
business corporations.

     The document requests ask Enron executives for information on
any form of compensation or benefit received from any of the
affiliates, including stock grants and options. They also ask the
executives to disclose any equity or partnership interests in the
affiliates.

     Enron formed many of the affiliates to buy company assets
such as power plants and natural-gas pipelines. That allowed Enron
to move debt associated with those projects off its books.

     The affiliates bought the assets with borrowed money. They
plan to repay the debt by eventually selling the assets. Enron
might be liable for any shortfall between the sales proceeds and
the debt. That could amount to at least $3.3 billion if the assets
don't generate any money, a remote possibility, the company has
said.

                            Few Answers

     Investors and analysts pressed Enron Chief Executive Officer
Kenneth Lay for details on the finances of the partnerships in a
conference call Tuesday.

     Today, Enron spokeswoman Karen Denne didn't respond to
questions about one of them, ES Power 3 LLC.

     Texas records list 78 Enron executives and employees as
officers, directors and managers of ES Power 3 LLC. The entire
Enron board is also listed.

     Shares of Enron $1.15 to $15.20 in late trading.

--Russell Hubbard in the Princeton newsroom at 609-750-4651, or at

Enron Still Target in California Amid Other Problems (Update1)
2001-10-26 16:15 (New York)

Enron Still Target in California Amid Other Problems (Update1)

     (Updates with closing share price in last paragraph.)

     Sacramento, California, Oct. 26 (Bloomberg) -- Enron Corp.,
facing an inquiry by federal securities regulators into
partnerships run by the former chief financial officer, remains a
target of investigations and lawsuits in California.

     California lawmakers and regulators have accused power
providers of manipulating the state's energy market to raise
prices. Enron, the biggest energy trader, and other power sellers
have denied the charges repeatedly.

     Next month, a California Senate committee investigating the
power market plans to hold a hearing to determine if Enron and
other generators are complying with subpoenas for trading
documents. Enron has been filing documents in Sacramento,
California.

     ``They are still putting documents in their depository, and I
don't think they've completed that process,'' said Alexandra
Montgomery, a consultant to the committee. It ``remains to be
seen'' whether Enron is complying with its subpoena, she said.

     The suits and inquiries came after wholesale power prices in
California soared, leaving the state's two largest utilities
insolvent. Under California's plan to open its electricity market
to competition, the utilities of PG&E Corp. and Edison
International weren't allowed to pass rising costs to customers.

     ``I know that we're doing our best to comply with what the
committee is asking for,'' Enron spokesman Mark Palmer. ``We are
putting documents in the depository, and we're looking forward to
a speedy resolution.''

     Shares of Houston-based Enron have fallen by more than half
since Oct. 16. The company ousted Andrew Fastow as the chief
financial officer Wednesday amid a U.S. Securities and Exchange
Commission inquiry into a partnership he ran that cost Enron $35
million.

                            Grand Jury

     Enron also is one of the companies being investigated for
civil and criminal violations by California Attorney General Bill
Lockyer, who convened a grand jury in June.

     Lockyer has been criticized by Enron officials for telling
the Wall Street Journal in May that he would like to put Enron
Chairman Kenneth Lay in ``an 8 x 10 cell that he could share with
a tattooed dude who says `Hi my name is Spike, honey.' '' Lockyer
later apologized for the remark.

     The attorney general's investigation is proceeding, Lockyer
spokeswoman Sandra Michioku said. Michioku said she didn't know
when civil or criminal charges against Enron or other power
providers might be filed.

     ``Our investigation is still being pursued,'' she said. ``We
had to go to court to get Enron to turn over documents, so that
slowed things down a bit.''

     Enron's Palmer said he didn't know the status of the attorney
general's investigation.

     ``I think the attorney general demonstrated his willingness
to take a fair and impartial look a long time ago when he made his
vulgar and unfounded remarks about our chairman,'' Palmer said.

                           More Lawsuits

     Enron, along with other major power providers such as Duke
Energy Corp. and Dynegy Inc., face at least five lawsuits alleging
they manipulated California energy prices in violation of
antitrust laws.

     The cases, which include separate complaints filed by the
City of San Francisco, California Lieutenant Governor Cruz
Bustamante and various consumers, currently are in state courts
awaiting a coordination proceeding, said Michael Aguirre, a lawyer
representing Bustamante. The lawsuits should be assigned to a
judge by the end of next month, he said.

     If the complaints succeed, the companies might be ordered to
repay profits from any illegal activities and pay fines, including
triple damages.

     Enron's stock fell 95 cents, or 5.8 percent, to $15.40,
declining for the eighth day in a row. The shares have fallen 80
percent in the past 12 months.

--Daniel Taub in Los Angeles, (323) 801-1261 or

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)
2001-10-26 16:18 (New York)

Enron Bonds Fall as Company Taps $3 Bln Credit Line (Update5)

     (Adds investor comment in fourth paragraph.)

     Houston, Oct. 26 (Bloomberg) -- Enron Corp. bonds and shares
fell after the largest energy trader tapped a $3 billion credit
line because it has been shut out of the leading market for low-
interest, short-term loans.

     The company's stock has fallen 54 percent in the past 14 days
after investors questioned its transactions with affiliates run by
Enron's former chief financial officer. The shares fell 95 cents,
or 5.8 percent, to $15.40 today.

     Chief Executive Officer Kenneth Lay has failed to reassure
investors that the company's credit rating won't be cut, investors
said. Enron can no longer borrow in commercial paper markets,
where short-term loans carry lower rates than banks offer.

     ``Do they have the financial flexibility they once had? No,''
said John Cassady, who helps manage $3 billion in bonds at Fifth
Third Bancorp. ``People are questioning the credibility of
management.''

      The company will use its credit line to pay off $2.2 billion
in commercial paper it has outstanding, Enron spokesman Mark
Palmer said.

                            Bonds Drop

     Enron's 6 3/4 percent bonds, which mature in 2009, declined 1
1/2 points to a bid of 84 cents on the dollar and an offer of 86
cents. At that price, the bonds, which carry a rating of ``BBB+,''
yield 9.53 percent.

     Investors have grown concerned that the company's credit
rating will be cut after $1.01 billion in third-quarter losses
from failed investments. Enron needs good credit to raise cash
daily to keep trading partners from demanding collateral and to
settle transactions.

     Enron's decision to tap its credit line was ``a smart
financial move,'' said Stephen Moore, a vice president at Moody's
Investors Service who follows the company. ``It took away the
hassle and time-consuming nature of rolling commercial paper and
insured access to capital.''

     Though Enron's bonds have investment-grade ratings, their
yield at current prices is higher than those of industrial bonds
that carry junk ratings. According to Bloomberg data, companies
with ``BB'' ratings pay on average 9.16 percent to borrow for
seven years.

     A lower credit rating may also force Enron to buy back
holdings in other partnerships with its stock, diluting the value
of Enron investors' stock.

     Partnerships called Whitewing, Marlin and Yosemite own Enron
assets they bought with borrowed money. Enron sold the assets to
the partnerships to keep related debt off its books. The
partnerships plan to repay the borrowed money by selling the
assets.

                         Other Liabilities

     If Enron loses investment-grade rating, the borrowed money
comes due earlier, leaving less time for the partnerships to find
the best price for the power plants and other assets. Enron would
have to make up any shortfall between what the assets would sell
for and the amount of the debt.

     One way would be issuing common shares to exchange for Enron
preferred convertible shares held by the partnerships. That would
thin out the holdings of every other investor.

     Of the two main bond-rating companies, Moody's and Fitch have
Enron on watch for possible downgrade, and Standard & Poor's
lowered Enron's long-term credit outlook to negative. Egan-Jones
Rating Co. today lowered its rating on Enron's debt to ``BB+,''
one notch below investment grade, from ``BBB-.''

     Enron's liabilities associated with the partnerships amount
to at least $3.3 billion, the company has said.

     Enron ousted Chief Financial Officer Andrew Fastow on
Wednesday amid a Securities and Exchange Commission inquiry into a
partnership he ran that cost the company $35 million in direct
losses. Enron also bought back 62 million shares from the
partnership, reducing shareholder equity by $1.2 billion.

     ``It looks like the guy who was supposed to do everything for
the benefit of shareholders was running partnerships for the
benefit of himself,'' Fifth Third's Cassady said.

     Jeff McMahon, head of Enron's industrial markets group, was
named CFO in a bid to restore investor confidence, Lay said in a
statement.

--Russell Hubbard in the Princeton newsroom at 609-750-4651, or at

Keller Rohrback L.L.P. Investigates Potential Claims on Behalf of Enron Corp. -- ENE -- Employees and Former Employees

10/26/2001
Business Wire
(Copyright (c) 2001, Business Wire)

SEATTLE--(BUSINESS WIRE)--Oct. 26, 2001--Seattle's Keller Rohrback L.L.P. is currently investigating potential ERISA claims on behalf of participants and beneficiaries of Enron's retirement and 401(k) plans.
The investigation period covers January 2000 through October 2001. The investigation focuses on concerns that, under the law interpreting ERISA, Enron and its plan administrators may have breached their fiduciary duties of loyalty and prudence by failing to disclose and inform the Plan participants and beneficiaries with respect to the use of employer stock as a Plan investment. Rather than providing complete and accurate information to the Plans' participants, it may be alleged that Enron and the plan administrators may have withheld and concealed material information, thereby encouraging participants and beneficiaries to continue to make and to maintain substantial investments in company stock and the Plans. This investigation is being conducted in light of recent events.
On Oct. 16, 2001, Enron surprised the market when it announced that the Company was taking "non-recurring charges totaling $1.01 billion after-tax, or ($1.11) loss per diluted share," in the third quarter of 2001. Enron later revealed that a material portion of the charge related to the unwinding of investments with certain limited partnerships, controlled by Enron's CFO, and that the Company would be eliminating more than $1 billion in shareholder equity as a result of its unwinding of the investments. As this news began to be assimilated by the market, the price of Enron common stock dropped significantly. In addition, several recently filed securities suits allege that Enron executives engaged in extensive insider trading, gaining millions of dollars in personal proceeds. Enron retirees have lost a substantial portion of their retirement earnings due to the drop in value of their retirement assets.
If you are a member of an Enron retirement plan, wish to discuss this announcement, or have information relevant to the investigation, you may contact paralegal Liza Catabay, or any member of our team (Britt Tinglum, Liza Catabay, or Lynn Sarko) toll free at 800/776-6044, or via e-mail at investor@kellerrohrback.com.
Seattle's Keller Rohrback L.L.P. has successfully represented shareholders and consumers in class action cases for over a decade. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.

CONTACT: Keller Rohrback L.L.P. Liza Catabay, 800/776-6044 investor@kellerrohrback.com www.SeattleClassAction.com
15:16 EDT OCTOBER 26, 2001
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.


Here is the segmented capacity volumes for May

Zone Master K# Volume  Segmented Contract
6-6 3.4367  40,000  3.4367 (ready to rock)

3-3 .7537  46,800  3.4620 (will execute last segments tomorrow)

3-3 .7537  24,400  3.4620 (will execute last segments tomorrow)

3-3 .7537  100,000  3.4801(backhaul k) (will execute last segments tomorrow)


FYI, Kim.

 -----Original Message-----
From: 	Faucheaux, Eric
Sent:	Thursday, July 19, 2001 4:54 PM
To:	Centilli, James; Watson, Kimberly; Lindberg, Lorraine
Cc:	Rance, Byron; Eisenstein, Arnold L.; Gottsponer, Morgan; Asante, Ben; Schoolcraft, Darrell; Graves, Jerry; Jolly, Rich; Chanley, Earl
Subject:	TW Capacity Affected for Red Rock Tie-ins

The following volumes are capacities west of Station 1 that will result from tie-in construction work slated for the Red Rock expansion.  Tie-in assemblies will be required on both the Mainline and Loopline at stations 1, 2, and 3.  New block and side valve assemblies for new compressor and scrubbers will be installed on the suction side main and loop lines at each station.  The tie-in will entail blocking (isolating) a line segment within the station yard on the suction side (each line done separately) thus creating a dead leg back to the next upstream block valve crossover(s).  Hence, all of the flow will be forced into a single line when making tie-in on the adjacent pipeline line.  The result of forcing all volumes into a single line will produce greater pressure losses in the operating segment to the existing compression and reduce throughput due to lower suction pressure and respective horsepower limitations.  Discharge piping at the station having tie-in work will be unchanged regarding valving configurations.

Tie-in	Schedule/Duration	Capacity	X-over Status
CS 2 ML	Oct '01 / 4 days	960 MMcfd	MLV 3010-open us/ds x-over; open us 30" x-over
CS 2 LL 	Oct '01 / 2 days	960 MMcfd	MLV 3010-open us/ds x-over, open us 30" x-over
CS 1 ML	Mar '02	/ 4 days	990 MMcfd	MLV 2012 & 2011-open us/ds x-over; open us 30" x-over
CS 1 LL	Mar '02	/ 2 days	990 MMcfd	MLV 2012 & 2011-open us/ds x-over; open us 30" x-over
CS 3 ML	Apr '02	/ 4 days	1010 MMcfd	MLV 4012 & 4011-open us/ds x-over; open us 30" x-over
CS 3 LL	Apr '02	/ 2 days	1010 MMcfd	MLV 4012 & 4011-open us/ds x-over; open us 30"x-over

Notes:
1.	Specific schedule dates are forthcoming
2.	Schedules could be impacted by material deliveries and is based upon receipt of construction permits
3.	Durations consider working around the clock until completed


Yeah, but you know I can't resist an opportunity to make a sarcastic remark.

Gabriel Monroy
11/03/2000 02:14 PM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Re: EBS

See now I think you should stay with risk. Yeahh.I think you are better off
there. he he he. You know this means that if you go to EBS our stock can
actually go down. No, what it really means is that I might have to help the
new person if you are really busy. Personally I do not like the idea.

Ok, I'll ask Ibrahim about this friend of his.

As for golf practice, we'll see if the weather turns out to be ok. I'll send
you an email once I know this guy's name, ok?

I was asking what you thought about  the whole EBS thing, not about my
nervousness.

Gabriel


You're done,  Hale is starting on Sat.  LSU doesn't stand a chance!
http://www.ncaabaseball.com/news/bbo/bbc/2000/06/08/960520710439.html


-----Original Message-----
From: 	Germany, Chris
Sent:	Tuesday, April 02, 2002 3:21 PM
To:	Mann, Kay; Gray, Barbara N.
Cc:	Knippa, Mark; Wise, Jack; Denetsosie, Troy; Coffey Jr., Jim
Subject:	FW: BASE CONTRACT FOR SHORT-TERM

El Paso's GISB for Enron Compression.  I will be emailing an addendum shortly.

 -----Original Message-----
From: 	"Gregory, Harry" <Harry.Gregory@ElPaso.com>@ENRON
Sent:	Tuesday, April 02, 2002 2:39 PM
To:	Germany, Chris
Subject:	BASE CONTRACT FOR SHORT-TERM

******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the
sender.
******************************************************************
 - Doc1.doc


The key state democratic legislators are working behind the scenes to develop
a Windfall Profits Tax bill in retaliation for high wholesale prices.  It is
not yet in print.  Here is an analysis of the expected bill by an attorney
for the Independent Energy Producers.

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 04/04/2001 09:40 AM -----

	"Steven Kelly" <steven@iepa.com>
	04/04/2001 08:55 AM

		 To: "'Alex Sugaoka (E-mail)'" <alex.sugaoka@uaecorp.com>, "'Bill Carlson
(E-mail)'" <william_carlson@wastemanagement.com>, "'Bill Woods (E-mail)'"
<billw@calpine.com>, "'Bob Ellery (E-mail)'" <bellery@spi-ind.com>, "'Bob
Escalante (E-mail)'" <rescalante@riobravo-gm.com>, "'Bob Gates (E-mail)'"
<bob.gates@enron.com>, "Bob Szymanski (E-mail)"
<rjszymanski@powerworksinc.com>, "'Carolyn A Baker (E-mail)'"
<cabaker@duke-energy.com>, "'Cody Carter (E-mail)'"
<cody.carter@williams.com>, "'Curt Hatton (E-mail)'"
<Curt.Hatton@gen.pge.com>, "'Curtis Kebler (E-mail)'"
<curtis_l_kebler@reliantenergy.com>, "'David Parquet'"
<david.parquet@enron.com>, "'Dean Gosselin (E-mail)'"
<dean_gosselin@fpl.com>, "'Doug Fernley (E-mail)'"
<fernley.doug@epenergy.com>, "'Douglas Kerner (E-mail)'" <dkk@eslawfirm.com>,
"'Duane Nelsen (E-mail)'" <dnelsen@gwfpower.com>, "'Ed Tomeo (E-mail)'"
<ed.tomeo@uaecorp.com>, "'Eileen Koch (E-mail)'" <eileenk@calpine.com>,
"'Eric Eisenman (E-mail)'" <eric.eisenman@gen.pge.com>, "'Frank DeRosa
(E-mail)'" <frank.derosa@gen.pge.com>, "Frazier Blaylock (E-mail)"
<fblaylock@covantaenergy.com>, "'Greg Blue (E-mail)'" <gtbl@dynegy.com>,
"'Hap Boyd (E-mail)'" <Hap_Boyd@enron.com>, "'Hawks Jack (E-mail)'"
<jack.hawks@gen.pge.com>, "'Jack Pigott (E-mail)'" <jackp@calpine.com>, "'Jim
Willey (E-mail)'" <elliottsa@earthlink.net>, "'Joe Greco (E-mail)'"
<jgreco@caithnessenergy.com>, "'Joe Ronan (E-mail)'" <joer@calpine.com>,
"'John Stout (E-mail)'" <john_h_stout@reliantenergy.com>, "'Jonathan Weisgall
(E-mail)'" <jweisgall@aol.com>, "'Kate Castillo (E-mail)'"
<CCastillo@riobravo-gm.com>, "'Kelly Lloyd (E-mail)'" <kellyl@enxco.com>,
"'Ken Hoffman (E-mail)'" <khoffman@caithnessenergy.com>, "'Kent Fickett
(E-mail)'" <kfickett@usgen.com>, "'Kent Palmerton'"
<kent.palmerton@williams.com>, "'Lynn Lednicky (E-mail)'"
<lynn.a.lednicky@dynegy.com>, "Mark Fillinger (E-mail)"
<mark.fillinger@enron.com>, "Marty McFadden (E-mail)"
<mmcfadden@covantaenergy.com>, "Paula Soos (E-mail)"
<psoos@covantaenergy.com>, "Rachel King (E-mail)" <rachel.king@elpaso.com>,
"'Randy Hickok (E-mail)'" <rjhickok@duke-energy.com>, "Rick S. Koebbe
(E-mail)" <rskoebbe@powerworksinc.com>, "'Roger Pelote (E-mail)'"
<roger.pelote@williams.com>, "'Ross Ain (E-mail)'" <ain@worldnet.att.net>,
"'Stephanie Newell (E-mail)'" <stephanie-newell@reliantenergy.com>, "'Steve
Lliff (E-mail)'" <siliff@riobravo-gm.com>, "'Steve Ponder (E-mail)'"
<steve_ponder@fpl.com>, "'Susan J Mara (E-mail)'" <smara@enron.com>, "'Tony
Wetzel (E-mail)'" <twetzel@thermoecotek.com>, "'William Hall (E-mail)'"
<wfhall2@duke-energy.com>
		 cc: "Julee Malinowski-Ball (E-mail)" <jmball@ns.net>, "Andy Brown (E-mail)"
<andybrwn@earthlink.net>, "'Carol Hudson (E-mail)'" <carol@iepa.com>, "'Jan
Smutny-Jones (E-mail)'" <smutny@iepa.com>, "'Katie Kaplan (E-mail)'"
<kaplan@iepa.com>, "'Steven Kelly (E-mail)'" <steven@iepa.com>
		 Subject: FW: Proposed Windfall Profit Tax

FYI.  Preliminary analysis of State Windfall Profit Tax.  This will be
discussed during the cc scheduled for 9:00 a.m. today, Wed.

 -----Original Message-----
From:    C. Stephen Davis [mailto:csdlaw@pacbell.net]
Sent:   Wednesday, April 04, 2001 8:33 AM
To:   Steven Kelly
Cc:   Douglas K. Kerner
Subject:   Proposed Windfall Profit Tax

Gentlemen:

       I understand that the some of the Democratic leadership of the
California Legislature is contemplating a charge against the
electric-generating industry in retaliation for recent price increases. The
charge is to be styled as a "windfall profit tax" modeled on President
Carter's tax on oil company profits following deregulation of oil prices in
1980 (The Crude Oil Windfall Profit Tax Act of 1980, 26 USC 4986 et seq.).
The Carter Windfall Profit Tax was levied on the difference between the
current wellhead price of the oil and the sum of the adjusted base price set
by Congress, multiplied by the applicable rate. I understand the California
charge will similarly be calculated by reference to a 1999 base price and
current prices, to which difference some sort of tax rate will be applied.
You asked whether this approach to punishing electric wholesalers was infirm
from either a policy or legal perspective. The basic policy problem is that
the tax will discourage sales of electricity in California.  California will
become the market of last resort.  Another problem is that the Tax might be
seen as promoting a "California First" policy at the expense of other
states. This is so because the Tax could well be included in the FERC rate
base as  "taxes other than income taxes," and thereby be shifted to other
customers.

       The Tax may suffer from legal flaws as well. The principal problem is
preemption by The Federal Power Act. The states are prohibited from
regulating wholesale power rates as a direct burden on interstate commerce.
The proposed charge, whether called a "windfall profit tax" or an excise tax
or a sales or use tax or something else, is underground rate making. There
is little or no practical difference between a rate cap and a tax on all
revenues measured with reference to a certain price point from the
perspective of the interstate electric wholesaler. Thus, the burden on
interstate commerce posed by direct rate regulation and taxing revenues
using a price base is comparable.

       The Tax may also constitute an unconstitutiional taking if the price
allowed is less than the cost of production and a reasonable return. The
proposed historical base price will not, for example, reflect recent fuel
price increases.

       Two other potential issues arise as well. First, the tax has many of
the hallmarks of a use tax, i.e., the tax is levied on the purchase of goods
from an out-of-state provider for delivery to and use in California. The
gross receipts form the sale of electricity have been exempt from sales and
use tax for more than 50 years. Rev. & Tax. Code Section 6353. While this
statute could, presumably, be amended, doing so would be a major policy
departure and a big step towards imposing sales tax on utility sales. A
second concern is the possible impairment of existing contracts as a result
of the Legislature's meddling in rate regulation.

       I was unable to identify any instance in which a state imposed a
windfall profit tax on electricity sales.

       The forgoing is the product of my conversations last evening with
Doug Kerner and a few hours of LEXIS research. The issues are complex and
could not be much developed in the time available. This material is best
viewed as informed "issue spotting."   Nevertheless, I feel strongly that
the proposed "Tax" can fairly be characterized as rate making.

Very Truly Yours, C. Stephen Davis


-----Original Message-----
From: 	Mayeux, Gay
Sent:	Tuesday, November 13, 2001 6:40 PM
To:	Kean, Steven J.
Cc:	Koenig, Mark
Subject:	RE: Final Communication Materials
Importance:	High

A couple of clarifications:

The $800 million of proceeds from asset sales does not include Azurix NA ( that cash goes to Azuirx, not Enron).
PGE sale - not $2 billion in PS;  $200 million in PS and $50 million in common stock
The investor call was extended to 8:30 t0 10:00 am and will focus more on the current business and financial stituation at Enron rather than the 8K filed last week.

 -----Original Message-----
From: 	McVicker, Maureen   On Behalf Of Kean, Steven J.
Sent:	Tuesday, November 13, 2001 6:30 PM
To:	Ambler, John; Brown, Bill W.; Caudell, Greg; Denne, Karen; DeSpain, Tim; Faldyn, Rodney; Gentle, Jackie; Koenig, Mark; Mayeux, Gay; McMahon, Jeffrey; Palmer, B. Scott; Palmer, Mark A. (PR); Schuler, Lance (Legal); Siurek, Ryan; Thode, Eric; Tilney, Elizabeth
Cc:	Derrick Jr., James; Lay, Kenneth; Meyer, Vance; Olson, Cindy; Philipp, Meredith; Rogers, Rex; Whalley, Greg
Subject:	FW: Final Communication Materials
Importance:	High

MESSAGE POINTS FROM MEETING
MONDAY, NOV. 13, 2001

Upcoming Events

?	Tues., Nov. 13 - 8K filing re secured financing
?	Tues., Nov. 13 - Customer letters from EES - will go out possibly today
?	Tues., Nov. 13  - Baker Institute - Enron prize to Alan Greenspan - Ken to attend
?	Wed., Nov. 14 - 8K filing (Dynegy and Enron separately filing) with merger agreement (perhaps with summary)
?	Wed., Nov. 14 (8:30 - 9:30 am (CST)) - Investor update conf call re liquidity, 8K on SEC questions, and Whitewing and Marlin
?	Mon., Nov. 19 (time t/b/a) - Bank meeting @ Hyatt in Houston
?	Thurs., Nov. 29 - Possible All employee meeting

Questions of the Day

?	Liquidity and counterparty activity.  Transaction count on EnronOnline (media and investors)

For the past two years, Enron has used 30-day rolling averages for daily transaction counts and notional value for our wholesale trading activities on EnronOnline due to the normal variability in these numbers on a day-to-day basis.  Due to the unusual events of the last few weeks, we provided some daily information.  However, we intend to again use rolling averages in all communications going forward.  While we saw some decrease in volumes on EnronOnline at the end of last week due to the impending merger announcement, volumes have returned to a normal range and are holding steady at a rolling average of 5,800 transactions with a notional value of $2.7 billion.

?	Quantification of litigation (media and investors)
o	no specific comment on litigation
o	shareholder suits likely to be consolidated
o	$3.5 billion "basket" in merger agreement is designed to cover all Enron litigation (i.e. not just shareholder litigation) and the parties believe this will be sufficient

?	Ken Lay's compensation (media and employees)
o	Ken, like many CEOs, has a change in control provision in his contract (and has had one for many years)
o	Ken has elected to waive his right to payment under that provision

Messages of the Day

?	Impact of merger on asset sales transactions (e.g. Dabhol) (media)

Enron will continue with our asset sales program as previously announced.  Those asset sales that have been announced include EcoElectrica, CEG/CEG Rio, EOGIL and Portland General Electric, as well as Azurix North America, which closed on November 7.  These transactions total $800 million plus PGE ($1.55 billion cash, $2 billion in preferred stock and $1.1 billion in debt)

?	Timing of funding from Chevron (banks and rating agencies)
o	Obligation - 3 business days after filing HSR (expected today), expect funding to occur earlier

?	Impact of transaction on specific areas (e.g. Portland, Japan, Florida and other office locations) - case by case

Communications Groups

?	Investor Relations
Mark Koenig
Gay Mayeux

?	Media Relations
John Ambler
Karen Denne
Jackie Gentle
Mark Palmer
Eric Thode

?	Rating Agencies
Tim DeSpain
Greg Caudell
Jeff McMahon

?	Banks
Bill Brown
Jeff McMahon

?	Customers
Beth Tilney

?	Employee communications
Karen Denne
Cindy Olson
Beth Tilney

?	Legal
Lance Schuler

?	Accounting
Rodney Faldyn
Ryan Siurek

  attached is a copy of the customer letter.
 << File: Dynegy merger - final customer letter-QA letterhead.pdf >>

Attached are the final communication materials.
Attachments:
	-- press release, issued by Dynegy and posted on www.enron.com in the Press Room
	-- timeline for communication rollout
	-- key messages for use with internal and external audiences
	-- talking points for use with employees
	-- email to employees w/ link to Q&As
	-- video script (to be viewed by employees on the intranet: UpFront!)
	-- external Q&A for use with the media and external audiences
	-- internal Q&A for background use in meetings with employees
	-- intranet Q&A posted on the web for employees

 << File: Final Release.doc >>

 << File: timeline.doc >>  << File: messages.doc >>  << File: Talking Points.doc >>  << File: announce email.doc >>  << File: mergervideokllscript3.doc >>  << File: External QA.doc >>  << File: Internal QA.doc >>  << File: Intranet QA.doc >>


oo la la is right!

-----Original Message-----
From: colleen silva [mailto:colleenfsilva@yahoo.com]
Sent: Tuesday, November 20, 2001 2:34 PM
To: Dasovich, Jeff
Subject: Fwd: ooo la la

just a little black rock desert july 4th colleenie
porn to help you through this trying merger....
Note: forwarded message attached.

__________________________________________________
Do You Yahoo!?
Yahoo! GeoCities - quick and easy web site hosting, just $8.95/month.
http://geocities.yahoo.com/ps/info1


FYI , this is what Suzanne was talking about.  I didn't know any of this was
going on.  I haven't talked with SN yet.  Do you have any comments before i
do?

m
---------------------- Forwarded by Mike McConnell/HOU/ECT on 04/26/2001
02:09 PM ---------------------------

<Thomas_Seitz@mckinsey.com> on 04/19/2001 08:12:30 AM
To: mike.mcconnell@enron.com
cc: Suzanne_Nimocks@mckinsey.com
Subject: Letter from Suzanne Nimocks and  Thomas Seitz

(See attached file: LetterMcConnell10416lb.doc)
(See attached file: 10402 enx123 exhibits.ppt)(See attached file:
Fundamentals LOP 10123 cab.doc)

+-------------------------------------------------------------+
| This message may contain confidential and/or privileged     |
| information.  If you are not the addressee or authorized to |
| receive this for the addressee, you must not use, copy,     |
| disclose or take any action based on this message or any    |
| information herein.  If you have received this message in   |
| error, please advise the sender immediately by reply e-mail |
| and delete this message.  Thank you for your cooperation.   |
+-------------------------------------------------------------+
 - LetterMcConnell10416lb.doc
 - 10402 enx123 exhibits.ppt
 - Fundamentals LOP 10123 cab.doc


Fax number is (713) 646-3490.

"Tipton, Bill" <BTipton@flowserve.com> on 04/24/2000 01:16:52 PM
To: "'Gerald Nemec'" <Gerald.Nemec@enron.com>
cc: "'Mark Knippa'" <Mark.Knippa@enron.com>
Subject: RE: Confidentiality Agreement

Gerald,
Could you give me your fax number so I can fax this agreement back to you...
Thanks,

Mark - how's your schedule look - mine is filling up fast...

Regards,

Bill Tipton
Manager, Product Management

-----Original Message-----
From: Gerald Nemec [mailto:Gerald.Nemec@enron.com]
Sent: Thursday, April 13, 2000 1:38 PM
To: Tipton, Bill
Cc: 'Mark Knippa'
Subject: Confidentiality Agreement

Attached is the form of confidentiality agreement for the Colonial project.
Per
Mark Knippa's request I am forwarding for your review.

(See attached file: FlowserveCA1.doc)


Attached below please find the following revised documents (each marked to
show the changes that were agreed to at Closing):

1.? Enron-Citibank Swap Confirmation;
2.? Enron-Citibank Credit Support Annex;
3.? Enron-Delta Swap Confirmation; and
4.? Enron-Delta Credit Support Annex.

Best regards,
Ray Richards

 <<Enron-Citi Swap Confirmation.doc>>  <<Enron-Citi CSA.doc>>  <<Enron-Delta
Swap Confirmation.doc>>  <<Enron-Delta CSA.doc>>

This e-mail message may contain legally privileged and/or confidential
information. If you are not the intended recipient(s), or the employee
or agent responsible for delivery of this message to the intended
recipient(s), you are hereby notified that any dissemination,
distribution or copying of this e-mail message is strictly prohibited.
If you have received this message in error, please immediately notify
the sender and delete this e-mail message from your computer.

 - Enron-Citi Swap Confirmation.doc
 - Enron-Citi CSA.doc
 - Enron-Delta Swap Confirmation.doc
 - Enron-Delta CSA.doc


The AGA weekly change for the week ending on 7/7 is at 68.
The model predicted 66 for 6/30, it came out at 69.

The following graph depicts the past performance.

Mike,

Where can I get the temperature data ?  I believe the model can be further
improved by incorporating some
explanatory variables like temperature.


That is some good stuff. I hear you are coming our way soon. Look forward to
drinking a few beers.

Chris


----- Forwarded by Jeff Dasovich/NA/Enron on 01/24/2001 11:29 AM -----

	Scott Govenar <sgovenar@govadv.com>
	01/24/2001 08:17 AM

		 To: Hedy Govenar <hgovenar@govadv.com>, Mike Day <MDay@GMSSR.com>, Bev
Hansen <bhansen@lhom.com>, Jeff Dasovich <jdasovic@enron.com>, Susan J Mara
<smara@enron.com>, Joseph Alamo <JAlamo@enron.com>, Paul Kaufman
<paul.kaufman@enron.com>, David Parquet <David.Parquet@enron.com>, Rick
Johnson <rick.johnson@enron.com>, Marcie Milner <mmilner@enron.com>, Sandra
McCubbin <Sandra.McCubbin@enron.com>, Tim Belden <Tim.Belden@enron.com>, Rick
Shapiro <rshapiro@enron.com>, Jim Steffes <james.d.steffes@enron.com>, Alan
Comnes <acomnes@enron.com>, Chris Calger <ccalger@enron.com>, Mary Hain
<mary.hain@enron.com>, Joe Hartsoe <Joe.Hartsoe@enron.com>, Donna Fulton
<Donna.Fulton@enron.com>, Steven Kean <Steven.J.Kean@enron.com>, Karen Denne
<kdenne@enron.com>
		 cc:
		 Subject: Security

Attached, please find the security assessment legislation SBX1 13.

http://info.sen.ca.gov/pub/bill/sen/sb_0001-0050/sbx1_13_bill_20010123_introdu
ced.pdf


pls print.  df
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 03/08/2001
05:58 PM ---------------------------
From: Rod Hayslett/ENRON@enronXgate on 03/08/2001 05:17 PM
To: Michael P Moran/ENRON@enronXgate
cc: Drew Fossum/ET&S/Enron@ENRON

Subject: FW: TGB

Comments?

 -----Original Message-----
From:  Hawkins, Don
Sent: Thursday, March 08, 2001 4:30 PM
To: Hayslett, Rod
Cc: Lowry, Phil
Subject: TGB

Rod, I have an e mail stating that TBG has found sufficient funds for the
bridge financing associated wither E&C activities of the three compressors
stations and that Pete Weidler has agreed to allow E&C to roll the cost of
equipment (compression) into the EPC price.
The compression is to be ordered by ETS on the behalf of GTB.  My question is
which ETS company will the equipment be ordered through?  GTB has made
reference of EAMR in the LOI signed with Solar but I question that statement.

Son


Looks fine to me.

Maureen - please keep on file

From: Billy Lemmons/ENRON@enronXgate on 06/13/2001 07:08 AM
To: Stanley Horton/ENRON@enronXgate, Steven J Kean/NA/Enron@Enron
cc: Ted C Bland/ENRON@enronXgate, Teresa Bosien/ENRON@enronXgate

Subject: DRAFT - PRC Follow Up Memo

Stan and Steve,

Below is a short email that I suggest we send as a follow up to each PRC
meeting.  Please adjust as you feel appropriate, and I'll ask Terry Bosien to
provide your assistant with a list of attendees after each meeting for
distribution.  I'm traveling today, but will be back in the office Thursday.
If you'd like to discuss my asst Maxine (x33499) knows how to reach me, or
you can contact Ted or Terry.

Regards,
Billy

___________________

Thank you for participating in the [EES] Analyst & Associate PRC meeting
[last Friday].  The Western Hemisphere final PRC meeting for Analysts &
Associates is set for July 18.  The purpose of this meeting will be to review
the collective ranking distributions, and to discuss the performance of
individuals in categories 1 and 5.  A subset of those who participated in
[Friday's] meeting will be selected to participate on July 18.  After the
July 18 meeting, you will receive the ok to provide feedback to those you
represented.  If you are not the direct supervisor of those you represented,
it is critically important that you work with the supervisor to insure
consistent and clear feedback and ownership of the ranking results.

If you have any questions, please feel free to contact Terry Bosien
(x35230).  Thank you again for your contributions to this important process.


Pavel, Many thanks for your note.

I understand that Digitals are not core Enron business but as you know, I'm
trying to explore Digitals to give, for example, a company a guaranteed
income in year one (to mop up expiring tax losses). This  is offset by a
guaranteed expense in year two. See attached hypothetical example. The
digital will reflect an underlying commodity to which a company is exposed to
and would be part of a price risk management strategy, thereby giving it
'commercial purpose'.

I would be interested in hearing from you generally on the subject --  the
rational for using Digitals and  your knowledge of its use in other markets
(electricity or other commoodity or in the banking sector).

It seems to me that setting the srike is key and a 'value judgement' or am I
wrong, and are there curves and models which could help you substantiate
this? In any event, do you have a feel for what an acceptable % of chance or
likelihood that a commodity price hits the strike on a digital before it
becomes non arm's length and does not pass the smell test?

Vince, Jarek suggested that you may be able to assist. Your views would also
be appreciated.

Gillian.

From: Pavel Zadorozhny on 02/11/2000 15:15 CST
To: Gillian Lockwood/LON/ECT@ECT
cc:

Subject: digitals

Digital options are extremely uncommon in the crude oil market. Nobody ever
asked me to show quotes in the OTC market. The only time we encountered them
was when producers, brought by our marketing team, wanted to sell a
knock-outable swap, whereby they would get a higher swap price in exchange
for cancelling the swap if the price settled below a certain level. This
structure had a digital put embedded in it, although the customers didn't
necessarilly know that. The companies were US oil and gas producers: Venoco,
Titan, Magnum Hunter, Patiena Oil & Gas, Belco, Central Resources. It was
about 1 year ago. In the OTC market, at about the same time, I asked for
quotes to hedge these transactions and sold a digital Cal 00 $16 swaption to
Elf and strips of digital puts to somebody else that I cannot recall.

I hope this helps.

Pavel


We are continuing work to ensure our new online trading system, UBSWenergy, is ready for launch on the week of Feb. 11, which is the week following the anticipated Enron/UBS Closing Date of Friday, Feb. 8.

To assist in this process, we are planning an online trading simulation for Thursday, February 7 from  0900 to 1100 (CST). It is planned to include all  traders, originators, mid/back-office staff and IT teams who would normally be involved with electronic trading.

Purpose of the simulation - The simulation will test our "live" trading environment (restricted to internal access only) and will:

Test the integrity and functionality of the system and related processes (including credit, risk, legal, operations, etc.)
Provide an opportunity for traders to verify their products and product setup
Demonstrate how the trading system and processes work to UBS staff visiting next week

Nature of the simulation - The simulation will include testing of all processes related to trading and mid/back-office functions:

Credit, Legal, Risk, Operations, and other groups:
Profile tests for "external" customers (role-played by Originators)
Profile tests for internal users (traders, back-office, etc.)
Data and Process checking as completed transactions flow through Mid/back-Office systems

Traders and Originators:
Traders will be managing their individual books and associated products. Although we may be restricted to certain financial products on launch day, both physical and financial will be available during the simulation. Each trader will be asked to manage their individual position and profitability goals for the simulation.
Originators and others will be asked to play the roles of counterparties. Credit limits, etc. will be tested during the simulation.

Information Technology:
Will assist in preparing data on the system for the simulation.
After the simulation is over, will work with the relevant groups to test the trade-data in various systems and risk books
Will ensure all simulation data is removed from the system after the simulation is complete.

Next steps

Traders and Originators will be contacted prior to simulation day to ensure they have appropriate access to the system.
Originators will be assigned specific roles. You should expect to receive an email and/or handout on or before Wednesday, Feb. 6.
UBSWenergy personnel will be meeting with back office personnel over the next several days to ensure everything is in place for the simulation.

Summary

This simulation is an important step towards re-launching our trading business. We appreciate the participation of everyone involved as we prepare for the public launch of UBS Warburg Energy and the UBSWenergy trading platform.

If you have any questions, comments, suggestions, or ideas regarding this simulation, please feel free to contact Bob Shults (30397) or myself (31861).

Regards,
Dave Forster
713.853.1861
E-Mail:	David.Forster@enron.com


Diomedes, I have been searching high and low for this information for you,
and I think I may have found something.  I have a letter from you to Jeff
dated November 15, 2000, regarding a wire transfer in the amount of
$110,109.00.  It broadly outlines expenses and references an attached report,
which I unfortunately do not have.  Would this letter be of any help to you?
Please let me know, and I'll be happy to send it right to where ever you
designate.  SRS

"Diomedes Christodoulou" <dchristo2@attglobal.net> on 04/04/2001 11:02:29 PM
To: <Jeff.Skilling@enron.com>
cc:

Subject: Re: Hello...

Hi Jeff,

I was trying to get a copy of the expense report of Swanswalk (the company
we set up to buy the house in Rio) and I discovered that unfortunately my
copy is in the boxes I sent to London from Brazil and they still have not
cleared customs in the U.K. If you recall, I sent you a copy of the report a
few months ago and I was wondering if you kept a copy in your files. If you
did can you please fax me a copy in the U.K at 011-44-2078239871?

Thanks and I hope all is well with you.

Diomedes.

----- Original Message -----
From: <Jeff.Skilling@enron.com>
To: <dchristo2@attglobal.net>
Sent: Monday, March 26, 2001 11:52 AM
Subject: Hello...

Hi, Diomedes.  I just tried to reach you on your cell phone (713.539.6731)
for Jeff.  Could you please give him a call at your earliest convenience?
713.853.6894 is his number.  Thanks, SRS


Ed Rosen would like to schedule a conference call to discuss the panel for
the PLI Swaps and Other Derivatives Conference being held on November
12-13.  Please let me know what dates and times of early next week work
best for you.

Thank you.
Maureen

This message is being sent from a law firm and may contain information
which is confidential or privileged.  If you are not the intended
recipient, please advise the sender immediately by reply e-mail and delete
this message and any attachments without retaining a copy.


Please enter your add/drop and I will approve them as soon as they are in

Frank                    Maurice Smith         75
JWillie                   Shawn Alexander     50
Russell Murrell       Jamal White            10
Martin                    Jay Fiedler                1


Attached are summaries of two PG&E advice letters which may be of  interest.
?
Dan
 - 10-26-00 PG&E AL Summary Chart.doc


For some reason your name did not get picked up.
Peggy
---------------------- Forwarded by Peggy Mahoney/HOU/EES on 04/28/2001 05:24
PM ---------------------------

Peggy Mahoney
04/28/2001 05:23 PM
To: Mark Koenig/Corp/Enron@ENRON, Paula Rieker/Enron@EnronXGate, Elizabeth
Ivers/Enron@EnronXGate
cc: Karen Denne/Corp/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON
Subject: RE: University of California/California State University

FYI.  I will forward draft media responses (win or lose) either Sunday night
or Monday
morning.  A win would mean we do not have to continue the process of
returning the
campuses to our service -  as the judge ordered us to do.  A loss would mean
that we
must continue returning the campuses to our service and therefore we would
once again
be responsible for buying the campuses' power on the open market.   In either
case,
we maintain the right to continue the appeal process, and legal will decide
whether or
not it is appropriate to continue that process after the appeals court
decision.

Legal does not expect to hear the ruling until Tuesday morning, but there is
a chance we
could hear something Monday afternoon.

Peggy

t---------------------- Forwarded by Peggy Mahoney/HOU/EES on 04/28/2001
05:07 PM ---------------------------
From: Robert C Williams/ENRON@enronXgate on 04/27/2001 03:12 PM
To: Robert C Williams/ENRON@enronXgate, James Derrick/ENRON@enronXgate, Mark
E Haedicke/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, David W
Delainey/HOU/EES@EES, Dan Leff/HOU/EES@EES, Peggy Mahoney/HOU/EES@EES, Marty
Sunde/HOU/EES@EES, Greg Whalley/HOU/ECT@ECT
cc: Vicki Sharp/HOU/EES@EES
Subject: RE: University of California/California State University

Correction:  the time of the argument is 1:00 CST.

 -----Original Message-----
From:  Williams, Robert C.
Sent: Friday, April 27, 2001 2:56 PM
To: Derrick Jr., James; Haedicke, Mark; Sanders, Richard; Delainey, David;
Leff, Dan; Mahoney, Peggy; Sunde, Marty; Whalley, Greg
Cc: Sharp, Vicki
Subject: University of California/California State University

The Ninth Circuit Court of Appeals has scheduled an oral argument on Monday
12:00 CST on our request for a stay of the district court's order granting
the Universities' motion for a preliminary injunction.  The argument will be
by telephone, and will be heard by a three-judge panel.  Mike Smith, Dennis
Benevides, and I will be with counsel during the argument.  Please contact me
with any questions (ext. 646-6412; cell 281-414-0364).