BUSINESS HIGHLIGHTS

Enron Mexico
Jaime Williams will head up the Monterrey office with responsibility for Risk Management and Trading.  Steve Irvin will take over responsibility for all origination activities in Mexico and will be based in Houston.  Both Jaime and Steve will report directly to the Office of the Chair, Enron Americas.

Weather
The weather desk is rapidly expanding.  With a presence in Houston, London, Sydney, and Tokyo (and possibly in New York), the desk has expanded from about 15 people in January to a current count of over 40 globally.  Mark Tawney recently went to Tokyo to explore joint marketing efforts with significant Japanese corporations and to meet with the newest additions to the Tokyo weather team.  Paul Murray (reporting to Mark) is leading the European effort out of London and has already increased the staffing there from 1 to 5.  If you're in the London office, please take him out to a pub or two - apparently he's had trouble finding them on his own.  If you have interest in joining an exciting new industry, please feel free to call Dave Hill at x34218.

IN THE NEWS

Goldman Sachs Analysts, David Fleischer, David Maccarrone and Eric Mandelblatt on Enron in their latest analyst comment, "A LOT Better Than it Feels; Prospects Never Better:  Raising Estimates":

"Our confidence in the direction of ENE's strategy and our conviction in the continuing strong execution of its business plan continue to be extremely high. "

"... investors have cast doubt about both the company's strategy and management's execution of its wide ranging and ambitious business plans. We have no such doubt."

"We absolutely believe that Enron's very broad capabilities are transferable to a wide variety of products and commodities and also see it as critical to emphasize that the company's wholesale operation is much more than the trading business may view it as being. . ."

WELCOME
New Hires
EGM  - Richard Friedman, Vivek Kumar, Alex McElreath, Fred Radvansky, Jonathan Sarley, Pat Twohy
EIM   - Tim Reed, Sonia Trevino, Greg Worsham
ENA  - Alisha Mahabir, Jennifer Smith, Nancy Turner

NUGGETS & NOTES

Travel tip of the week:
Car rental contracts for year 2001 have been awarded to National Car Rental and Alamo Rent-a-Car.  Please communicate the contract identification number at the time the reservation is made.
	Alamo		  143974
	National		5000838

Insurance is included in Enron's negotiated rates; if asked please decline the Optional Liability Insurance and Collision Damage Waver offered by the gate agent.  Coverage applies only if the appropriate contract identification number has been communicated.  Negotiated discounts represent 20% off customary rates.

Congratulations to Derrick and Paula Harris, manager in Business Analysis and Reporting, on the birth of daughter, Jazmine Kay on June 14, 2001.

Congratulations to Shannon and Greg Whiting, director in BA&R, on the birth of their daughter, Irene Elizabeth, on Friday, June 22, 2001.

EnronOnline Statistics

Below are the latest figures for EnronOnline as of June 29, 2001

	*Total Life to Date Transactions > 1,150,000
	*Life to Date Notional Value of Transactions > $684 billion

NEWS FROM THE GLOBAL FLASH

EES Europe Lands First Outsourcing Deal
Congratulations to EES Europe who recently clinched their first outsourcing transaction with supermarket giant, Sainsbury's.  The deal means EES will provide gas and electricity to all 493 Sainsbury's properties in the UK including stores, offices and depots. EES will also manage a program of energy reduction measures designed to improve energy efficiency at Sainsbury's facilities.

Stuart Rexrode, Vice President of EES Europe, said: "This was a sensational team effort - a fantastic achievement for EES Europe and a truly groundbreaking transaction in the marketplace.  The whole group should all be extremely proud and I am confident that this is the start of many more outsourcing deals to come."

EBS Europe
EBS Europe has just completed its 100th transaction. The transaction involves a 12-month contract for an STM-4 circuit from London to Madrid. This capacity is equivalent to approximately 830 DSL lines or Internet connections into the home.  Commenting on the achievement, Matthew Scrimshaw, President of EBS Europe said, "This is just one of the many milestones that EBS will achieve, as we continue to create a market for bandwidth trading and origination."

Pioneering International Coal Agreements Signed
Enron has signed a five-year agreement with Spanish utility HidroElectrica del Cantabrico for the import of at least 600,000 tonnes of steam coal per annum in Enron's first long-term coal import deal into Spain.  The agreement gives Enron full optionality with regard to sourcing, timing and quantity of coal supply, which will be delivered via the port of Gijon in northern Spain and transported by rail and truck to a number of coal-fired power stations, predominantly in the north of the country.  Gijon itself could become a trading hub for Spain's rapidly expanding coal market. "Spain is experiencing strong demand growth for electricity generation and with an annual production of only 17 million tonnes of expensive, low-quality coal at its disposal, the country has a need for new, flexible sources of supply - so there's lots of opportunity for us to extend the scope of our agreement," says Sam Grossman, Enron's coal group director who led the team which included Katrina Bensadon and Janet Wood with support from the coal and freight teams.

In a separate agreement Enron's first foray into the US coal import market is delivering a cargo of Colombian coal to Dynergy via the Mississippi and two further cargoes of 45,000-60,000 tonnes to northeastern US utilities via Charleston, south Carolina.  With coal supplying the fuel for more than half of the USA's power generation and the domestic coal market showing high prices - the Nymex coal price has doubled over the past year - this is an excellent time for Enron to help meet customer demand.  "This is a classic Enron deal exploiting optionality," says Sam Grossman.  "We were able to redirect one of our coal cargoes bound for Europe and find an alternative source to fulfill the European order."  The import agreement is expected to encourage other counterparties into the US coal import market.  Congratulations to Sam, Peter Bradley, Lenny Hochschild and the Enron freight desk.

LEGAL STUFF
The information contained in this newsletter is confidential and proprietary to Enron Corp. and its subsidiaries.  It is intended for internal use only and should not be disclosed.

<Embedded Paintbrush Picture>


Texas Power Markets: Restructuring / Competition Report

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Visit our Subscription Center to edit your interests or unsubscribe.
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---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/26/2001
10:51 AM ---------------------------

Pamela Vande Krol Castro <castro@rice.edu> on 02/23/2001 04:35:22 PM
To: Vince.J.Kaminski@enron.com
cc:
Subject: rosters (Rice University)

I have enclosed your latest rosters for MGMT 656:  Energy Derivatives.  The
word document is your official rosters.  The excel document is a list of
names with e-mail addresses.  I'll keep you updated as students
add/drop.  As always, let me know if you have any questions.

Pamela Castro
MBA Program Associate
Rice University
713-348-6223
 - 656.xls
 - 656.doc


Vince,
Two candidates for your review. Please call  me.
?
Paul Johnson, CPC
President
(281)  497-8595
?
Please visit our website
? www.austingrp.com
 - Wood, Shelly.doc
 - JPBresume2.doc


Here is the agreement with the changes you requested.


Thanks for forwarding this contact list.  You should add my contact
information to the list as well and redistribute to the team.  Thanks.

Office 713-853-5926
Home 281-370-8568
Cell  713-417-1591

10/11/2000 01:30 PM
Brenda Flores-Cuellar@ENRON
Brenda Flores-Cuellar@ENRON
Brenda Flores-Cuellar@ENRON
10/11/2000 01:30 PM
10/11/2000 01:30 PM
To: Sally Beck/HOU/ECT@ECT
cc: Patti Thompson/HOU/ECT@ECT
Subject: RE: CommodityLogic Team Contact Info

Here you go ladies:

I will forward any updates as they become available.

Thanks,
Brenda


Hi--

Rate will be the same for everyone. Hope this helps.

Come say hi when you get a chance!

Suzanne
-----Original Message-----
From: Transco Tariff [mailto:Transco.Tariff@Williams.com]
Sent: Tuesday, January 08, 2002 12:14 PM
Subject: Transco's Current Tariff Update

Transco's GRI Filing has been approved by FERC.  Please print and file the attached tariff sheets for your current Transco tariff book.  Also attached is a copy of the FERC order and a current tariff listing.

<<tariff.pdf>> <<rp02-89.00a.doc>> <<TGPL Current List.doc>>

Gwen Ellis
Rate & Tariff Implementation
(713) 215-3423


I didn't see your name on the list - do you have direct deposit or was it a
check?

   Kate Symes                01/03/2001 11:10 AM

To: Amy FitzPatrick/PDX/ECT@ECT
cc:
Subject: 12/31 Paycheck

My paycheck doesn't seem to be anywhere around here. Could you let me know if
my name was on the list of missing paychecks for the end of last month? Kathy
Axford said she gave you such a list on 12/30.

Thanks,
Kate


Vince,

Please find attached a small note I had prepared at Wade's request.  The note
is to be used for a private meeting of the ex-Chairman of MSEB with the
governor of Maharashtra.  In the Indian system, the Governor represents the
Federal government in the state.  Hence any information he gathers is for the
Central Govt.

This informal note is to be passed to him.  The focus as you will see is to
see if we can engage the Central govt. through this route.

Krishna is here and sends his regards.

Regards,
Sandeep.
---------------------- Forwarded by Sandeep Kohli/ENRON_DEVELOPMENT on
01/16/2001 08:55 AM ---------------------------

Sandeep Kohli
01/16/2001 08:51 AM
To: Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: To Basak

Wade,

Please find the note attached for Mr. Basak.  The tariff data is all from the
information sheet put out by Mohan, so you should have no conflicts.

I have tried to give it the appropriate spin.

Let me know if there is something you would like to do differently on this.

Regards,
Sandeep.


Attached is the revised PDA term sheet with a few minor edits (really nothing
substantive).

Stuart


Yes you can use this chart.  Does it make sense?


Jean, can you give me an update on Q4 from an earnings point of view ie)
deals and value.

Regards
Delainey


I am faxing you separately three pages from Don Ray George, reflecting
calculations that I asked him to do concerning each individual plaintiff's
damages shown by the Rhodes study.  Specifically, Don Ray, with Marianne's
help:  (i) tried to determine the specific wells in which each individual
plaintiff had an interest; (ii) located, from Rhodes' study, the 2-page
sheets for each of those wells; (iii) added up all the over- and undertake
"values" (dollar amounts) shown for that well in the Rhodes study; and (iv)
applied plaintiffs' percentage interest to that amount.  He then added up the
individual well amounts for each plaintiff, to arrive at that plaintiff's
"actual damages per Rhodes."

The purpose of this exercise was to make a rough cut determination as to
which plaintiffs will be claiming the most damages, and therefore, to help us
decide which method of choosing ten representative plaintiffs would most
benefit us.

In doing so, we gave plaintiffs the benefit of the Rhodes Study's
methodology, with two exceptions:  (1)  for a given plaintiff, Rhodes added
up only the undertaken "values," disregarding entirely and thus failing to
offset overtaken "values;" in the scenarios on p. 1 and p. 2, we credited a
given plaintiff's overtaken values against that plaintiff's undertaken
amount;  (2)  Rhodes also added an "interest" calculation" to his numbers; we
did not use his interest calculations at all, because they are totally wrong
under the law.

But of course, Rhodes' methodology is totally flawed in numerous other
respects as well -- so much so, in our opinion, that it is utterly defective
-- and furthermore, plaintiffs have now indicated they want to rerun numbers
using different (Intratex) data.  This is just our best effort to get our
arms around some numbers at this stage based on plaintiffs' theories, with no
consideration of most of our defenses as to each individual plaintiff and to
all plaintiffs in general.

Page 1 shows the results for each individual plaintiff, crediting overtakes
against undertakes.  DISREGARD the $27 million total; that is the total only
if net overtakes from all of the overtaken plaintiffs combined are credited
against net undertakes from all of the undertaken plaintiffs combined.  At
least as of this stage, since we are not seeking contribution from overtaken
plaintiffs, that number is not valid even under our current theories.  (It
may become valid at some point, but for now, let's disregard it entirely).

Page 2 shows the cumulative total for all plaintiffs with damages, when
offsets are not considered.  The total is: $50,528,850.

Page 3 shows the cumulative total for all plaintiffs, when overtake values
are NOT taken into account.  The total is: $66,402,761.

A few observations about these numbers:

1.  First, many plaintiffs -- approximately half -- have no damages at all
under the Rhodes methodology, when undertaken values are taken into account.

2.  If my hurried calculations are right, of the $50 million shown on page 2,
$45 million represents the damages of only 8 plaintiffs (nos. 1-8).

3.  There are significant individualized defenses with respect to these
plaintiffs.  It appears at this stage that Southwest Royalties is another
Beeson -- i.e., that it acquired its interests in the wells after the 1978-88
time period at issue.  We do not yet know that SW Royalties acquired the
right to sue on the contracts.  With respect to Eclipse (Beeson's company),
we're pretty sure it did not.  American Trading and Production (ATAPCO) had
Panhandle gas, and litigated its "fraud" claim re: Panhandle; thus, all
damages as of the time of the Panhandle agreements (1985) are plainly
barred.  Almost all of Staley's damages would be foreclosed by a settlement
he entered into in 1987 (I think that's the date).  We know Joe O'Neill
deliberately underproduced a lot of the time.  Those are just a few examples
from my memory, all of which underscore that these numbers are inflated.

4.  Of course, at trial -- since the court has not certified, and they are
entitled to prove up individualized types of damages -- plaintiffs could try
for damages over and above those shown by the Rhodes study, such as
"reservoir damages" for certain individual plaintiffs, etc.  So these are not
a ceiling, necessarily.

5.  Again, using the Rhodes study as a basis is very iffy to begin with,
since plaintiffs have indicated they're going to redo their ratability
analysis using Intratex numbers -- which may yield entirely different results
-- and the Rhodes study's methodology is utterly wrong.  But at least it
gives us a rough basis with which to work at this stage of the game.


Please put this on my calendar, thanks

fletch

---------------------- Forwarded by Fletcher J Sturm/HOU/ECT on 03/21/2001
05:05 PM ---------------------------
From: John J Lavorato/ENRON@enronXgate@enronXgate on 03/15/2001 05:41 PM
Sent by: Kimberly Hillis/ENRON@enronXgate
To: Louise Kitchen/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, Phillip K
Allen/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT, Thomas A
Martin/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, Mark Dana Davis/HOU/ECT@ECT,
Fletcher J Sturm/HOU/ECT@ECT, Rogers Herndon/HOU/ECT@ect, Karen
Buckley/ENRON@enronXgate, Chuck Ames/NA/Enron@Enron, Bilal
Bajwa/NA/Enron@Enron, Russell Ballato/NA/Enron@Enron, Steve
Gim/NA/Enron@Enron, Mog Heu/NA/Enron@Enron, Juan Padron/NA/Enron@Enron, Vladi
Pimenov/NA/Enron@Enron, Denver Plachy/NA/Enron@Enron, Paul
Schiavone/ENRON@enronXgate, Elizabeth Shim/Corp/Enron@ENRON, Matt
Smith/NA/Enron@ENRON, Joseph Wagner/NA/Enron@Enron, Jason
Wolfe/NA/Enron@ENRON, Virawan Yawapongsiri/NA/Enron@ENRON
cc: Ted C Bland/ENRON@enronXgate
Subject: Dinner Invitation - April 10, 2001 (For Trading Track)

You are cordially invited to attend cocktails and dinner on April 10, 2001 at
La Colombe d'Or restaurant located at 3410 Montrose Blvd (a map can be found
at www.lacolombedor.com).  Cocktail hour will start at 7:00 pm with dinner to
follow.

Please note:  this dinner is for the Trading Track Program.

Please RSVP to Ted Bland at extension 3-5275 before April 6, 2001.


Guys,

In response to our strategic daily meeting, here is a list of items that we discussed and we need to be prepared to review.  Please think about these and we need to fill in your views.

For EGM:

?	List the top uses of cash by business

?	List of cash generation items in each business

?	List of cash required unwind businesses and/or positions

?	Immediate action steps

?	What items would we get rid of if there weren't any balance sheet issues?

?	Is there $ in our trading books?

?	Is there extra $ in our receivables?

?	What assets or contracts that we could sell and how fast?  Are there fire sale issues and lost value vs. taking more time?

?	What should our businesses look like in a capital constrained or cash flow metric world (look 9 months ahead)?

?	List out key contracts per business unit.

?	List of what stays and what goes in each business

?	Money is stranded in our PRM and we have no access to the markets.  How could we get some of the value for our PRM?

Thanks,
Mike


Thanks, Harry.  I want to re-enforce the switching issue, since EES is likely
to be very focused on moving customers back to the utility on Tuesday.
Switching would certainly reduce EES' going-forward exposure to 1) growing
"credit receivables" that the utilities refuse to pay and 2) the risk that
the Commission will end the rate freeze altogether---and the PX credit with
it--as part of the hearing process that commences with the pre-hearing
conference on Wednesday.  Reducing that exposure is clealry important to EES.

But the utilities' ability to resist taking back customers is likely to be
significant, particularly since 90% of the volumes that we serve are on Enron
meters.  Imagine the road blocks that the utility can/will construct over the
"complex process"  of changing-out the meters.  In addition, when CA border
gas prices spiked several weeks ago, many large gas customers tried to switch
from noncore to core service on SoCalGas' system.  SoCalGas submitted an
emergency motion at the Commission to prevent the switching and the
Commission granted it in the wink of an eye.

It will be important for EES to drill down fairly deeply in its analysis of
all the ways that the utility can frustrate any switching.  Otherwise, we may
find ourselves confronting a lot of negative PR without having reduced any of
EES' exposure.  Customers who have been unwillingly switched back to the
utility have become very vocal about their displeasure and have turned
negative on ESPs as a result.

Best,
Jeff

	Harry Kingerski
	01/07/2001 11:21 AM

		 To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Mark S
Palmer/Enron Communications@Enron Communications
		 cc: Jeff Dasovich/NA/Enron@Enron, James D Steffes/NA/Enron@Enron
		 Subject:

These 3 issues will be discussed at your Tuesday afternoon meeting with EES:

what to do about forcing the utilities to pay delinquent PX credits
Through December, the total arrearage is about $220M total, mostly from
PG&E.  Neither utility is paying.  Vicki Sharpe is lining up bankruptcy
counsel.

should the new 1 cent surcharge be passed on to our customers
Vicki has not said yet whether our contracts allow passthrough, although she
has hinted it would require a very aggressive interpretation of the contract.

should we try to return our customers to utility bundled service
Aside from the modifications to our customer contracts that have to take
place, an even stickier issue is to get the utilities to take them back.
Even if the utilities are required to do so, forms have to be processed and
meters have to be changed out.  (We have our own meters on our accounts.)
This could not happen quickly.  Of course, this action mitigates against the
risk of the rate freeze ending but does nothing for the credit problem, other
than to keep the exposure from getting larger.

On Wednesday, there will be a pre-hearing conference at the CPUC on the next
phase of the end-the-rate-freeze case.  Jeff and I have talked about this and
think we can decide what our involvement will be (witnesses, positions, etc.)
after a schedule is set.  For now, the strategy is to make sure the CPUC on
Wednesday adopts a schedule that deals with all the issues they must deal
with about the rate freeze.

(Rick, I will be in San Francisco through Wednesday meeting with Mike Day and
working with Roger Yang to identify all those issues.)


Rebecca,

I share some of your concerns regarding Mr. Sud. He is retired and he chose
to contact us rather indirectly (or on the spur of the moment).
I understand  that things are done differently in different cultures but I
did not meet him and could not
form my judgment based on personal observations.

However, the information  he gave us seems to be too important not to convey
to you and not to act upon.

Vince Kaminski


You may recall that I flew in from San Francisco to meet with you last
September to interview for an attorney position to work on the
commoditization of broadband.  You were interested in me because I had
traded futures as a broker prior to my career as a lawyer.  I was sorry to
hear through a headhunter that Enron had disbanded the group.  (Robbi, I
hope that you recovered from your house fire.)

To cut to the chase, I have read in the news about the SEC investigating
Enron and its derivatives trading with two of its LP's, which I gather was
extremely profitable.  I wondered if there was an opportunity to finally
work for Enron.

I understand how swaps work, have conducted financial investigations and
have securities litigation experience, albeit all on a smaller scale than
you are operating on.  I have gas swaps experience as a lawyer at
TransCanada Energy Ltd. I  worked for the Alberta Securities Commission
assisting them in an investigation into a market manipulation.  I also used
to sue the major brokerage houses on a contingency basis for outrageous acts
committed by their brokers when I had my own practice.

I have been looking for an opportunity to work with swaps  and specialize in
the law with respect to derivatives.

I am available immediately and would be willing to work on a contract basis.
If you think that I could help, my number is 403-241-7293.

Take care,

Garry Henderson
Calgary, Alberta, CANADA

 - Resume of Garry Henderson.doc


Marcus -

I understand you are the new physical power online lawyer - lucky you!
Here's one that the EOL people are anxious to get covered.  I'd be happy to
sit down and go over exactly what all this means and you'll probably want to
talk to Tana a bit as well.

Mark
----- Forwarded by Mark Taylor/HOU/ECT on 03/15/2001 09:53 AM -----

	Kevin Meredith@ENRON
	03/15/2001 09:30 AM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc:
		 Subject: Re: Power Spread Long Description

Mark,

Please take a look at this and advise me as to how I could move this forward
for a Monday release.

Kevin
---------------------- Forwarded by Kevin Meredith/Corp/Enron on 03/15/2001
09:27 AM ---------------------------

SHARI STACK@ECT
03/13/2001 06:04 PM
To: Kevin Meredith/Corp/Enron@ENRON
cc: Chris Walker/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Robert B
Cass/HOU/ECT@ECT, Savita Puthigai/NA/Enron@Enron, Sean Crandall/PDX/ECT@ECT,
Elizabeth Sager/HOU/ECT@ECT

Subject: Re: Power Spread Long Description

Kevin- I apologize for not getting back with you on this. I don't know if you
know but I have resigned from Enron and have only a few days left. I am
swamped with a lot of other work and I have asked my boss, Elizabeth Sager,
to appoint a new atty to handle EOL matters (until Leslie Hansen returns).

She can be reached on x36349.

Thanks,

Shari Stack
Enron North America, Legal Department
Tel: (713) 853-9477

	Kevin Meredith@ENRON
	03/09/2001 10:52 AM

		 To: Shari Stack/HOU/ECT@ECT
		 cc: Melba Lozano/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT, Chris
Walker/HOU/ECT@ECT, Savita Puthigai/NA/Enron@Enron, Sean Crandall/PDX/ECT@ECT
		 Subject: Power Spread Long Description

Please review the following attachment containing the proposed long
description for the Physical Power Spread requested by Sean Crandall.  Sean
has reviewed and approved the language for use on his product.  I will be
setting this product up for testing once I receive word back from you.

Thank you.
Kevin


Place these dates on your calendar now so you won't miss out on some
wonderful opportunities.


Okay, brief resume of my life to date if you like:

Born, grew up, (in England), am currently studying at Nottingham University
(E. Midlands of England) although that's not strictly true as I'm here in
Texas studying at UT Law School as part of an exchange scheme. I go back in
June or whenever and finish my degree so will finally graduate in June 2002.
(Fingers crossed). Other than that I don't do much else but eat, drink and
be merry. Actually I play the viola (and sing a bit) and that took over my
life back home but here I'm doing more of the drinking part of things - more
wine than beer though it has to be said - also better for you - well,
almost!
So there you go - does that bring back any memories?!
Hope you're having a fun week, happy halloween for yesterday - though I'm
not sure how fanatical people are about it in Houston - they certainly seem
to go all out for making a big deal of it here!
Sophie.
_________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.

Share information about yourself, create your own public profile at
http://profiles.msn.com.


I have confirmed our risk review of Mariner with the CFO, Frank Pici, for
Thursday April 6 beginning at 9 a.m. and extending though the day.  As stated
in my prior Lotus notes on March 16, this review will focus on the finance
and marketing functions of Mariner rather than the upstream operations such
as exploration and production.  Attached is a org chart which was provided by
the company.  Please let me know if you have any comments.


Any GCP adjustments will be highlighted in blue.

Best Rgds.

Samuel x3-9890 (GCP Team)
Enron Net Works _ Global Data Management

From: Walter Guidroz/ENRON@enronXgate on 04/25/2001 04:53 PM
To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/ENRON@enronXgate,
Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli
Campbell/ENRON@enronXgate, Cynthia Clark/ENRON@enronXgate, Enron Europe
Global CounterParty/LON/ECT@ECT, Stephanie Sever/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Claudia Clark/ENRON@enronXgate, William S
Bradford/ENRON@enronXgate, Lisa Lees/ENRON@enronXgate, Juana
Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT,
Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/ENRON@enronXgate, Tanya Rohauer/ENRON@enronXgate, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications, EOL Call Center@ECT, Bill D Hare/HOU/ECT@ect, Amy
Heffernan/Enron Communications@Enron Communications, Molly LaFuze/Enron
Communications@Enron Communications, Danny Clark/Enron Communications@Enron
Communications, Stephanie Panus/NA/Enron@Enron, Teresa
Mandola/ENRON@enronXgate, Bill Kyle/ENRON@enronXgate, Amber Ebow/HOU/ECT@ECT
cc:
Subject: EOL approvals, 04-25-01

Please see attached.


Today we released additional information about our related party and off-balance sheet transactions.  We have made this information available both on our website and in a Form 8-K filing with the Securities and Exchange Commission (SEC).

The information provides further details about:

	-- the $1.2 billion charge to shareholders' equity announced in the third quarter and the transactions related to that charge;
	-- a restatement of prior years' financial statements to reflect this reduction in shareholders' equity, the consolidation of     three entities and prior year proposed audit adjustments and reclassifications;
	-- the Special Committee appointed by the Enron Board of Directors to review transactions between Enron and related parties;
	-- the LJM limited partnerships, including a discussion of transactions between Enron and LJM entities; and
	-- transactions between Enron and other Enron employees.

This information addresses a number of concerns that have been raised by our shareholders and the SEC.  As our Board's new Special Committee continues its review of various matters, we will continue to cooperate fully with the SEC in its investigation, and we will continue to respond to investor requests so that they can evaluate, appreciate and appropriately value the strength of our core businesses.

Restatement of Earnings

Based on information that we have recently obtained, Enron and its auditors determined that certain off-balance sheet entities should have been included in Enron's consolidated financial statements pursuant to generally accepted accounting principles.  As a result, Enron will restate its financial statements from 1997 to 2000 and for the first and second quarters of 2001.  These restatements have no material effect on Enron's current financial position.  Here are some details included in the filing:

Net income for each period will be impacted by the retroactive consolidation of Joint Energy Development Investments (JEDI) and Chewco beginning in November 1997, the consolidation of an LJM1 subsidiary for 1999 and 2000 and prior year proposed audit adjustments.  Enron's current assessment indicates that the restatement will include:

	-- a reduction of approximately $96 million in 1997
	-- a reduction of approximately $113 million in 1998
	-- a reduction of approximately $250 million in 1999
	-- a reduction of approximately $132 million in 2000
	-- an increase of approximately $17 million for the first quarter of 2001
	-- an increase of approximately $5 million for the second quarter of 2001
	-- a reduction of $17 million for the third quarter of 2001.

The consolidation of JEDI and Chewco also will increase Enron's debt by approximately $711 million in 1997, $561 million in 1998, $685 million in 1999 and $628 million in 2000.

The restatement will have no material impact on Enron's reported earnings for the nine-month period ending September 2001.

You can obtain more detailed information on the items described above by accessing the Form 8-K filing at <http://www.enron.com/corp/sec/>.

We will continue to review our strategic, operational and financial position, and we will continue to keep you updated on any developments.


Travis,

My thoughts are.......:

The Terms and Conditions for Use

I would add  the following text at the end of section 4:

For European Union residents: please note that Enron Europe Finance & Trading
Limited is authorized to carry on investment business in the United Kingdom
by the UK Securities and Futures Authority (SFA) and had reviewed and
approved the contents of this website for relevant regulatory purposes. The
services referred to in this website are intended only for commercial
enterprises and not for private customers as defined by the rules of SFA.
Enron will not enter into transactions with persons who would be regarded as
private customers under the rules of SFA.  For Belgian residents: please note
that, pursuant to the Belgian law of 14 July 1991 on Commercial Practices,
this website is to be considered as being advertising (reclame/publicit,).

The Letter

The following text should be added as a footer:

The contents of this letter has been approved by Enron Europe Finance &
Trading Limited, a firm authorized by the UK Securities and Futures Authority
(SFA) to carry on investment business. The services referred to in this
letter are intended only for commercial enterprises and not for private
customers as defined by the rules of SFA.  Enron will not enter into
transactions with persons who would be regarded as private customers under
the rules of SFA.

Justin


Jeff,

Greg is requesting Enron Industrial Markets' 2001 Goals & Objectives (no more
than 3 to 4 each) asap.

Many Thanks,

Liz Taylor


Executive Committee Weekly Meeting
Date:  Monday, May 14th
Time:  11:00 a.m. (CDT)
Location: 50th Floor Boardroom
Video:  Connections will be established with remote locations upon request.
Conf call: AT&T lines have been reserved.  Please contact Sherri Sera
(713/853-5984)
  or Bill Dorsey (713/646-6505) for the weekly dial-in number and passcode.

Please indicate below whether or not you plan to attend this meeting and
through what medium.

 Yes, I will attend in person _______

 By video conference from _______

 By conference call  _______

 No, I will not attend  _______

*  *  *

Please return this e-mail to me with your response by 12:00 p.m., Friday, May
11th.

Thank you,
Bill Dorsey.


Thanks Kay. I'll call you Monday. Have a nice holiday.

Ben

Kay Mann@ENRON
04/12/2001 06:28 PM
To: Ben Jacoby/HOU/ECT@ECT, Chris Booth/NA/Enron@Enron
cc:
Subject: NW

We had our daily phone call with NW.  I don't know that we really have
significant  points of disagreement.  They understand that we are working
some accounting issues, and they have a general idea of what we want to do.
I suggested that we come up with the work arounds with our accountants, and I
will think about it this weekend.  I have a couple of ideas but I really want
to mull it over.

They look forward to receiving the turbine contract.  Chris, could you
forward the draft change orders with it?

One point they raised is that they want the ability (with GE consent) to have
us refund the future payment due to GE (less 7% for time value of money),
retaining the payment obligation.  All of this is post closing.  They are
putting up a full blown parent guaranty to GE for the turbine contract, and
since the payment should only be around $4mm, that would probably be
acceptable to GE.

Keffer et al will issue revised documents tonight.  There are no calls
scheduled tomorrow or this weekend, giving everyone "quiet time" to review
the contract.  Other than the accting issues, this should be about it.

We deferred discussions about an extension until Monday.

Kay


-----Original Message-----
From: 	Fitzpatrick, Amy
Sent:	Friday, December 07, 2001 11:04 AM
To:	Clyatt, Julie
Subject:


----- Forwarded by Richard B Sanders/HOU/ECT on 12/29/2000 08:19 AM -----

	Sara Shackleton
	11/22/2000 03:36 PM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc:
		 Subject: Oct 20 conversation with Bob Lampo of Salerno

Richard:

I don't know if you were copied separately on this message.  Can you send a
letter after Thanksgiving?  The first payment should come due the first week
in December.  Thanks.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 11/22/2000 03:34 PM -----

	Douglas S Friedman
	11/22/2000 01:20 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Oct 20 conversation with Bob Lampo of Salerno

Looks like 2/3 of the way down on pg. 2 he clearly says we have a deal
pending the LC, a requirement which we later waved.

Doug
---------------------- Forwarded by Douglas S Friedman/HOU/ECT on 11/22/2000
01:18 PM ---------------------------

Alan Engberg
11/22/2000 11:44 AM
To: Sara Shackleton/HOU/ECT@ECT
cc: Douglas S Friedman/HOU/ECT@ECT, Jason Williams/HOU/ECT@ECT
Subject: Oct 20 conversation with Bob Lampo of Salerno

Sara, here's the transcript of a conversation with Bob whereby I mistakenly
inform him that he needs to post a $240k LC and he doesn't object.  Please
comment on how useful this will be to our efforts to enforce the deal.  Also,
as mentioned previously, I called Bob a week ago, left him a message and
haven't heard any response.  Should I try again?????  What are our next
steps?   (I'm pulling more tapes to try to find the conversation or message
in which I tell Bob that he's actually got $250k of credit).

Thanks,
Alan


I want to bring interrested parties up to date on the issue of replacing the
fuel mixers with carbuerators at  the Spraberry Plant.  It seems that this
replacement was performed ONLY as a fuel savings activity and that there
would be no increase in emissions or horsepower as a result.  According to
the TNRCC, they will allow this activity provided that the above is true and
that we prove that emissions and horsepower will not increase.  To do this
they have requested that we conduct an emissions test on one of the units
with the mixer on and then with the carbuerator on as a condition of their
approval.  IE before and after testing.  I am going to request that we be
allowed to do the testing with a portable emissions tester, which has been
verified in side by side testing on New Mexico units as opposed to bringing
in a third party referenced testing company.  Contractor testing runs about
$3-5,000.

A condition of all permitting issues is that the carbs are not supposed to be
installed on the units (preconstruction) until approval has been given by the
agency.  In this case, we will be allowed to install a carbuerator on the one
unit to be tested but not on all units.  Should testing show other
exceedances (emissions or Hp) in addition to fuel savings, this will trigger
actions requiring perimtting.  Under the circumstances, I think it would be
in the best interest of NNG to know for certain that we have not violated the
grandfather status of the units and that if our activity requires permitting,
we comply immediately.

I am sending out the letter request to the TNRCC today.  If approved, we
should test ASAP.  Remember, that sampling ports in the exhaust stack of the
unit to be tested will need to be constructed prior to testing.  Let me know
if the Team will need a diagram showing the sampling port locations.


I agree unless we are getting a market or above price on a fast track basis.
--------------------------
Sent By Mark Muller


---------------------- Forwarded by Tana Jones/HOU/ECT on 01/06/2000 09:09 AM
---------------------------

Molly Harris
01/05/2000 04:26 PM
To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT
cc: Bob Shults/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Bernice
Rodriguez/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Debbie
R Brackett/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Brian
Hunter-Lindsay/LON/ECT@ECT, Ian Sloman/LON/ECT@ECT, Coenraad
Basson/LON/ECT@ECT, Bhautik Patel/LON/ECT@ECT, David Hardy/LON/ECT@ECT, David
Weekes/LON/ECT@ECT, Sylvia A Campos/HOU/ECT@ECT, Carrie Southard/HOU/ECT@ECT,
Lisa Gillette/HOU/ECT@ECT
Subject: EOL Credit Responses 1/5

Please find attached Credit's EOL responses for 1/5/00.

Regards
Molly


Yes please - SAS.  I think I just need to renew - I haven't actually used
it on my new machine but I believe it is there.

At 05:20 PM 10/24/2001 -0500, you wrote:
>I need to coordinate our order for SAS and SPSS both renewals and new
>orders.  These are on a university license and each one costs about $80 per
>license.  The charge will be passed on to your research account.
>
>Those of you with existing SAS installations, your version will keep
>working until December.  At that time it will stop working unless renewed.
>
>SPSS is coming out with a version 11 and I have asked Mudd to let me know
>when that is available.
>
>If you 1) need either of these packages now for a fresh installation or 2)
>plan on renewing the software that you currently have installed, please let
>me know.
>------------------
>David Kilgore               Jones Graduate School - Rice University
>kilgore@rice.edu          6100 S. Main - MS 531
>713-348-5378               Houston, TX 77005


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/19/2001
04:42 PM ---------------------------

Shirley Crenshaw
03/19/2001 01:36 PM
To: ludkam@aol.com
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Vince's Itinerary - 3-20-01 to 3-23-01

Hi Ludmilla:

Attached is Vince's itinerary to London the 20th - 23rd.

Shirley


I don't know...when are you getting your haircut?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 2:03 PM
To:	Rybarski, Amanda
Subject:

so i have to go get my haircut, any ideas where we can meet


I know, I know.  It's still weird to me.  While I thought it was great that Lisa was holding back on the physical side of this relationship early on...I'm beginning to wonder if she really likes him, or just likes having someone to talk to who will cater to her.  I mean, I'm all for prudence when it comes to the physical side of relationships, but after a month of constant contact and interaction I would have to question the fact I didn't feel compelled to completely jump the guy.  That's not to say I would, but I'd still have to question the lack of desire to do so.  I just don't get the impression that she is that attracted to him.  Seems more like "good buddy" to me.  I think she misses the Matt's, Alan's, Thatcher's, etc. that she got that from in the past.

On the plus sides, he is a very happy person who loves to smile and is pleasant to be around.  I just get squeamish watching people cuddle so much.  I'm having flashbacks to sharing a room with Jen when Craigers was in the picture.  It's not a pleasant memory, trust me.  I do think it's weird that Lisa never wants me to leave their presence...they both questioned me when I took off to bed last night around 9:30...I just wanted out.

Sue

	Enron Capital & Trade Resources Corp.  From:  "Emily Hillegeist" <ehillegeist@hotmail.com>                           03/27/2001 09:36 AM

To:	Susan.M.Scott@enron.com
cc:
Subject:	Re: UGGGHHHHH

NO!  again, sue- you are giving lisa too much credit- assuming she is
capable of a motivation or thought that is BEYOND our comprehension!  the
truth is, you DO understand, just don't it to be the truth- it's a dark,
scary place to go!  basically, she wants to "show off"  what she HAS, and
yet again, PRAY you will be in full veg mode, looking as pitiful as, say, i
do rt now- on my couch, eating gummy bears- thoroughly enjoying my wasted
existance- so that she can further convince the oh-so-dimple mitch that he
"picked the RIGHT roomie!"  and i honest to god think she DOES think that
way.  or, perhaps, spending quality alone time w/ him would incenuate too
much of a relationship, and when she tries to "capture" the swiss boy's
affection (while cleverly using a visit w/ her good pal em as a
justification) she won't feel as bad- i mean, she and mitch WEREN'T that
close...at least, SHE wasn't.....no harm, no foul.  whoa.  should i be a
therapist, or what.  or be IN therapy- can channel people's "dark sides" so
easily, it MUST be a sign....must use my powers for good, must use my powers
for good....!
e

>From: Susan.M.Scott@enron.com
>To: ehillegeist@hotmail.com
>Subject: UGGGHHHHH
>Date: Tue, 27 Mar 2001 08:19:39 -0600
>
>He was over again last night.  Please explain to me why you would invite
>your "man" over to your apartment when you have a roommate and he lives
>alone.  I simply do not understand.  I took full advantage of the fact Ted
>lived alone...we never hung out at my apartment.  Where's the fun in that?
>I just think it's weird.
>
>Talk to you later,
>Sue
>

_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com


Since you never gave me the $20 for the last time we bet on CU/Texas, I figured I would give you the chance to go double or nothing on the second round.  I think the line is Texas -9.  Let me know.


Dear Mr. Arora:

Once again, thank you for the great opportunity to demonstrate and prove my
credentials, interest and desire to work for Enron this summer during the
second round of on-campus interview at the Owen Graduate School of
Management at Vanderbilt University on January 24th. Although I have not
been selected for the Summer Associate position at Enron, I would like to
assure you that I am still interested in a full-time position at Enron upon
my graduation.

Meanwhile, I would greatly appreciate if you provide me with any feedback on
my performance during the interview. I am especially interested in your
opinion regarding the areas I need to improve.

Again, thank you for your time and consideration.

Sincerely,
Dmitri Villevald
Owen MBA 2002


I am in the process of finalizing the ISDA and need for you to provide me
with a definition of the "Cross Border Lease"  for insertion into Paragraph
12 of the Credit Support Annex.  I will need to refer to the lease in several
places.  Thanks.  Sara


ALJ is allowing CDWR to assert $1.7B in Pacific NW case.
As noted the other day, their claim against Enron is small ($200,000), but this will expand ripple claims in a big way.

Link to Judge Cintron's Order

http://cips.ferc.fed.us/Q/CIPS/ELECTRIC/EL/EL01-10.0AA.TXT


tom brady - bishop was cut a long time ago

 -----Original Message-----
From: 	Mathews, Reagan
Sent:	Wednesday, September 26, 2001 8:51 AM
To:	Bass, Eric
Subject:	RE: trade

Who is his replacement?  Bishop?

 -----Original Message-----
From: 	Bass, Eric
Sent:	Wednesday, September 26, 2001 8:48 AM
To:	Mathews, Reagan
Subject:	RE: trade

they think bledaoe will be back in 2-3 three weeks.  no injuries to internal organs ( that is what they were concerned about)

 -----Original Message-----
From: 	Mathews, Reagan
Sent:	Wednesday, September 26, 2001 8:47 AM
To:	Bass, Eric
Subject:	RE: trade

I like the deal because it give me some instant production, but I'm concerned about Bledsoe's injury.

I'll shoot you an e-mail over lunch.
 -----Original Message-----
From: 	Bass, Eric
Sent:	Wednesday, September 26, 2001 8:00 AM
To:	Mathews, Reagan
Subject:	trade

did you get a chance to look at anything last night?


yes


Suzanne:
Could you please set up a 30 minute meeting Monday morning with Rod to
discuss Reliant Energy Services ISDA issues?
Thanks.
Carol


I am working with Don Miller and will be responsible for receiving and
processing all due diligence requests for Pastoria.

Below are our responses to PG&E's questions:

QUESTION:Is the major maintenance reserve estimate based on a negotiated Long
Term Services Agreement (LTSA)?  If so, will it be in place and transfer with
PEF?

RESPONSE:  We have not negotiated an LTSA with anyone at this time, and we do
not expect to have one in place to transfer with PEF.  The maintenance
reserve is our estimate based on industry data and information from GE.

QUESTION: Are spare parts for the first major overhaul included anywhere in
the capital cost estimate or are they assumed to be purchased through the
maintenance reserve estimate (i.e. the LTSA) charge?

RESPONSE:  The maintenance reserve is intended to include parts and labor for
the overhaul.

QUESTION: What is Enron's intent re: continuing involvement?  PG&E is
concerned about any potential requirements that they might be required to
either purchase fuel from Enron or engage Enron as the power marketer.

RESPONSE: Enron is very flexible re continuing involvement:  scheduling
coordination, fuel supply, power marketing, etc.  We are also flexible re the
time period and the terms of the continuing involvement.  Whatever
arrangement is developed would be mutually beneficial.

QUESTION: What is status of EPC negotiations.  Will they be required to
engage NEPCO as the EPC contractor?  Does the EPC contractor have control
over the turbines?

RESPONSE: o EPC negotiations are complete with NEPCO.  Contract has not been
executed, but has been "put on the shelf" awaiting decision on successful
bidder for the purchase of the Pastoria project from ENA.  Successful bidder
and NEPCO will each have the option of executing the EPC agreement.

  o The successful bidder will be under no obligation to engage NEPCO.

  o Pastoria has control of the turbines.

QUESTION: They also questioned whether there would be any "agricultural
restrictions"?

RESPONSE: The project site is presently under a Williamson Act contract to
maintain agricultural use in exchange for lower taxes.  Last week, the Kern
County Board of Supervisors voted to cancel the Williamson Act contract to
allow for industrial use, which started a 180-day public comment period.
However, the Governor has on his desk a bill for signature that would reduce
the public comment period for the cancellation to the same time frame as the
request for rehearing period for the CEC Final Decision.  (The Governor has
until 9/30 sign the bill and is expected to do so because of the overwhelming
support of the bill in the Assembly and the Senate.)  The cancellation will
be contingent upon a successful CEC decision and a payment of a Williamson
Act cancellation fee.

QUESTION: I received a call from Tom Favinger at PG&E today.  He would like
to get a breakout of the $10.25 million item in the Pastoria capital budget
labeled Pre-Commercial Operations Costs.

RESPONSE: The breakdown (in $MM) is as follows:

Project management during construction  $1.000
Start-up and acceptance    2.900
Insurance and performance bond   1.846
Owner's Engineer     1.500
County Chief Building Officer/Engineer/Consultant 3.000

TOTAL      $10.246

Should you have any questions, please call me at 713.345.8992.


Stuart:
Here is their response to our Draft version.  Let me know what you think.
Thanks
Ben


Attached you will find the summary on the Dec. 2 Task Force meeting,
Sub-Committe Re-Assignments, Meeting Schedule for 2000 and a Member Contact
List from Beth Tilney.


David:
Enclosed for your review is a draft amendment letter for the above
counterparty.  All of the requested chnages are driven by the fact that BPA
is a federal agency.  I look forward to hearing from you.
Carol


---------------------- Forwarded by V Charles Weldon/HOU/ECT on 01/26/2001
09:59 AM ---------------------------

Margaret Jones <mjones@gc.edu> on 01/26/2001 09:48:49 AM
To: v.charles.weldon@enron.com
cc:
Subject: Super Bowl

Charlie, I don't know if you'll have any plans for the superbowl but if
you would like to come to Galveston you are more than welcome.  We will
be at Pop's house - Jimmy's brothers will be there - we are going to
plan the menu this evening but last night Mitchell and I decided some
nice heavy h'or'dourves (sp?) might be nice - and anything Mitchell
cooks is really worth the dive.  Anyway let me know.  Love, Margaret