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October 12, 2001

Mirant Becomes No. 2 Gas Marketer;
New Acquisition Cements Canada as Top Spot for Gas Resources

By Will McNamara
Director, Electric Industry Analysis

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[News item from PR Newswire] Mirant Corp. (NYSE: MIR) announced on Oct. 11 that it intends to acquire the majority of the gas marketing business of Calgary-based TransCanada Pipelines Limited, a move that would make the company the largest natural-gas marketer in Canada, the largest natural-gas exporter to the United States and the number-two gas marketer in North America. Terms of the purchase were not disclosed, although it is expected to close in the fourth quarter of this year, pending approvals from regulators, producers and customers.

Analysis: It's nothing short of amazing the number of natural-gas transactions that have taken place between U.S. integrated energy firms and Canadian gas companies in 2001 alone. As is often the case, what seemed like a trend now appears to be an industry standard, as those U.S. power firms consolidating in the natural-gas sector look northward to Canada for acquisition targets. Canada, which offers seemingly abundant natural-gas resources, has attracted such U.S. energy companies Calpine, Devon and Duke, which have also bought gas outlets in the Great White North this year. This particular acquisition is significant because it positions Mirant, which already had assets in the Western part of Canada, as the largest gas marketer in Canada and right behind Enron elsewhere in North America, especially in the U.S. Midwest and Northeast. Further, the purchase of TransCanada gives Mirant a decided edge on the increasing exports of natural gas from Canada to the United States, adding upon its already-significant portfolio.

As always when discussing a merger or acquisition, I like to first establish the key elements of the deal before addressing the larger strategic gains of the parties involved. Mirant is of course the recently spun off, former subsidiary of Southern Company which over the last year has become one of the most aggressive and visible energy companies operating in the unregulated wholesale sector. The company's business model is founded on building a huge arsenal of generating assets, particularly based in natural gas, which can be marketed and traded in strategic regions. Even before the announcement of this acquisition, Mirant owned an estimated 96 billion cubic feet of proven oil and gas reserves, 82 percent of which are natural gas. According to the company, a substantial portion of its 38 million cubic feet equivalent per day that is in current production is contracted to be sold at an average fixed price of $4/MMBtu through 2002. Further, Mirant has established a solid reputation as a leading gas marketer and trader in North and South America, Europe, and Asia. The purchase of TransCanada's gas marketing business will add 5.1 billion cubic feet per day of gas reserves to Mirant's existing volumes (based on TransCanada's 2000 trading volumes), which as noted significantly elevates Mirant's stature in the gas-marketing space.

The most important thing to note about TransCanada's business model is that the company has established a strong niche in transporting natural gas from Alaska's Prudhoe Bay and Canada's Mackenzie Delta into the growing North American marketplace, supporting two separate pipelines (one from each basin). This has been a slow-growth business for TransCanada, and in fact has lost money over the last year, but is positioned for strong growth in the future given the projected increase in demand for natural gas in North America. TransCanada has been attempting to sell its gas marketing business for some time in an effort to focus more exclusively on its North American gas transmission and electrical power services. Last month, the company sold another chunk of its U.S. natural-gas marketing and trading operations to BP Gas and Power. Some of the motivation for TransCanada to focus exclusively on this business might have arisen from concerns about perceived conflicts between its marketing / shipping business and pipeline systems.

From a broad perspective, this is a good move for Mirant. As noted, the company already has assets in Western Canada, where it has operated since June 2000 through its management of the natural-gas marketing operations of Pan-Alberta Gas Ltd. and CanWest Gas Supply, Inc. The purchase of core businesses of TransCanada extends Mirant's presence into Eastern Canada by gaining control over TransCanada's Quebec and Ontario operations. Specifically, Mirant gains control over TransCanada's natural-gas trading and marketing business and the related transportation and storage contracts, with business contracts in the Midwest and Northeast United States. In addition, TransCanada has agreed to sell its "netback pool," or the part of its operation that has aggregated gas supply from about 550 natural-gas producers. As noted, the aggregated supply should increase Mirant's marketable reserves by 5.1 billion cubic feet per day. Although financial terms were not disclosed, a Mirant executive indicated that the acquisition would enable the company to establish a leading market position through minimal investment.

The acquisition of TransCanada is by no means a surprise as it factors in very well to Mirant's growth strategy. Just this week, Mirant announced that it had acquired an interest in 18 natural-gas and oil producing fields as well as 206,000 acres of mineral rights in South Louisiana from Castex Energy. This purchase followed purchases announced last August in which Mirant agreed to acquire two power plants in Florida and Georgia from El Paso Corporation. The additional generating capacity from the El Paso facilities would bring Mirant closer to its aggressive target of owning or controlling 35,000 MW in North America by 2005. Mirant is acquiring from El Paso a 640-MW natural gas-fired power plant in Thomaston, Ga., and a 480-MW natural gas-fired plant in New Port Richey, Fla., north of Tampa. The agreement is expected to close this month, pending regulatory and third-party approvals.

As noted, Mirant is just the latest in a string of U.S. energy companies that have made purchases of Canadian gas companies. Driven by what appear to be abundant natural-gas reserve fields in Canada, and uncertain resources in more traditional areas such as the Gulf of Mexico, the gas consolidation movement among U.S. energy companies includes acquiring those firms that are involved in both production and transportation of natural gas. Some recent reports I've seen have indicated that, since 1991, natural-gas imports to the United States (mostly coming from Canada) have doubled to about 10 billion cubic feet per day, while domestic production has increased only 4 percent (although it still averages 52 billion cubic feet per day). Further, according to the Department of Energy, U.S. imports of natural gas from Canada have averaged about 15 percent of total U.S. usage (during 2000, the United States consumed 22.8 Tcf and imported about 3.6 Tcf, mostly from Canada). The other factor driving this interest in Canadian natural-gas firms is the relatively lower valuations of Canadian energy stocks.

Worth noting in this movement is Duke Energy, which announced its purchase of Canada's Westcoast Energy for $3.5 billion in late September. Westcoast Energy owns the main pipeline that transports natural gas into the United States, which is a booming market for natural-gas demand given its use in new power plant projects. The acquisition should give Duke control over natural-gas supply in Canada and the pipelines needed to export it. It is important to note that Duke has found its niche in the Canadian natural-gas market by focusing on the transportation of the commodity. Mirant is taking a different approach by focusing on the marketing side of the business. Also worth noting in the Canadian market is Devon Energy, which is buying Anderson Exploration, which reportedly will position it as the largest independent producer of oil and natural gas in North America.

Ironically, this increased interest in Canadian natural-gas firms is taking place at a time when Canadian natural-gas storage levels could be much higher than reported, bringing prices down to (CAN) $1.75 per million cubic feet over the next few weeks. In fact, natural-gas prices in Canada have dropped about 80 percent since the beginning of 2001, with Alberta's benchmark AECO-C Hub prices dropping more than 40 percent in the past two months. In addition to the high storage levels, mild weather, a drop in consumption of natural gas and the struggling North American economy are also considered to be factors in the drop in prices. However, this does appear to be a temporary trend, and companies such as Mirant are betting that prices will once again increase, starting with the imminent winter season.

Moreover, as noted the purchase of TransCanada will reportedly make Mirant the second-largest gas marketer in North America. According to the most current data available, based on 2000 sales, Enron Wholesale Services remains the largest natural-gas marketer in North America, with 28.3 billion cubic feet / day of sales in 2000, representing an 82.6-percent increase over 1999 levels. Duke Energy Trading and Marketing, Dynegy Marketing and Trade, Coral Energy, and Reliant Energy round out the top companies. Interestingly, Mirant was not even listed on the year-2000 sales ranking because it did not fully spin off from parent Southern Company until late in the year. Consequently, the ascendance into the top tier of natural-gas marketers that Mirant should achieve through this single purchase of TransCanada is quite impressive.

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I'm looking for the following demand charges

$93835.00
(12.314.60)

Do you see those anywhere?  They are on deal 554846.


Kay,

Attached are blacklined version of the CA Energy Development breakout
agreements.  They show the changes made from the original form agreement
to the latest version of each agreement, which I sent out to you about
an hour ago.  Thanks, Chris
 <<Comparison of 554888.6 to 83277.2.DOC>>  <<Comparison of 554888.6 to
83242.3.DOC>>
 - Comparison of 554888.6 to 83277.2.DOC
 - Comparison of 554888.6 to 83242.3.DOC


Please send me a copy of the data sheet on the above company.

Thanks,

Kay


Darren-

Currently, we have three ISDA Master Agreements under process.  Our potential
counterparties are Mitsui Marine and Fire Insurance Co., The Industrial Bank
of Japan and Sanwa Bank Ltd.  We have produced these documents based on the
credit worksheets prepared in Houston and in conjunction with Baker &
McKenzie, Tokyo.  Mark Taylor is reviewing the drafts prior to presenting
them to the potential counterparties.

I am not aware of any brokerage arrangements to which Enron Japan Corp. is a
party.  I note that I have copied Jonathan Whitehead on this correspondence,
as he may be able to provide insight regarding plans for entering into such
arrangements.

Best regards,

John

	Darren Delage@ECT
	08/17/2000 12:40 PM

		 To: John Viverito/Corp/Enron@Enron
		 cc: Sara Shackleton/HOU/ECT@ECT
		 Subject: brokerage agreements

Thanks for your response John, I think it provides the clarification that we
need to move forward.
I have one further question for you relating to current ISDA/exchange
agreements that we have in place in Enron Japan.

Below are all exisiting ISDA and brokerage agreements that Financial trading
currently has in place. Does Enron Japan have any ISDA/broker agreements in
place that we can use for the purpose of executing financial trades?
(perhaps with some of the names on the attached list?)If so, do you know what
sort of credit has been extended and/or whether there is netting versus other
commodity books or dedicated activity credit?

If we do not have any agreements in place which would allow us to conduct
trades, do you know who I should contact regarding necessary documentation?

Sincerely,
Darren

---------------------- Forwarded by Darren Delage/HOU/ECT on 08/17/2000 12:12
PM ---------------------------
From: Sara Shackleton on 08/17/2000 11:43 AM
To: Darren Delage/HOU/ECT@ECT
cc: Samantha Boyd/NA/Enron@Enron, Laurel Adams/HOU/ECT@ECT
Subject: brokerage agreements

Darren:  Laurel mentioned that you were interested in existing/pending
brokerage/futures agreements.  Attached are our most recent matrices by Enron
company.  ALL of these agreements are negotiated by legal and must be
executed by the business unit (VP or higher) and Ted Murphy.  Sheila Glover
always sends a request and explanation for new account to legal, compliance
and Ted Murphy.  Legal keeps a comprehensive listing by Enron company in an
effort to avoid confusion.  Legal updates authorized trader lists and trading
resolutions.  Let me know if you have any questions.  Sara


Dan,

Ref. is made to yr e-mail dated 30th re adjusting ETA Lake Charles to the 9th at
latest 0600LT.

Please be advised that the vessel is instructed to arrive Lake Charles June 9th
0400lt accordingly.

Best regards

Kjell
Hoegh LNG


Start Date: 1/24/02; HourAhead hour: 6;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002012406.txt


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fyi -- great job!
---------------------- Forwarded by Karen Denne/Corp/Enron on 08/23/2000
06:10 PM ---------------------------

Vibeke Laroi <Vibeke.Laroi@reuters.com> on 08/23/2000 01:52:48 PM
To: kdenne@enron.com
cc:

Subject: article

Karen,
Here is a copy of the story, which is unfortunately quite a bit shorter.
Thank
you both for your help, and please give a special thanks to Mr. Kean for his
extremely helpful comments and analogies.
Sincerely,
Vibeke Laroi

(See attached file: fair power grid.doc)

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

Any views expressed in this message are those of  the  individual
sender,  except  where  the sender specifically states them to be
the views of Reuters Ltd.
 - fair power grid.doc


The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete.  Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein.  Any
opinions expressed herein are solely those of the author.  As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates.  ? 2001 Carr Futures

The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.

Crude     http://www.carrfut.com/research/Energy1/crude28.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas28.pdf
Distillate     http://www.carrfut.com/research/Energy1/hoil28.pdf
Unleaded     http://www.carrfut.com/research/Energy1/unlded28.pdf

Feb. WTI/Brent Spread
http://www.carrfut.com/research/Energy1/clg-qog.pdf
Feb Heat Crack     http://www.carrfut.com/research/Energy1/heatcrack.pdf
Feb Gas Crack     http://www.carrfut.com/research/Energy1/gascrack.pdf
Feb Gas/Heat Spread     http://www.carrfut.com/research/Energy1/hug-hog.pdf
June Gas/Heat Spread
http://www.carrfut.com/research/Energy1/HUM-HOM.pdf
March Gas/Heat Spread
http://www.carrfut.com/research/Energy1/HUH-HOH.pdf
Feb/May Unlead Spread
http://www.carrfut.com/research/Energy1/HUG-HUK.pdf
Feb/July Crude oil Spread
http://www.carrfut.com/research/Energy1/CLG-CLN.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG28.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG28.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL28.pdf


FYI

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/21/2000
09:41 PM ---------------------------

Ravi Thuraisingham@ENRON COMMUNICATIONS on 02/20/2000 12:48:11 AM
To: Vince Kaminski, Stinson Gibner/HOU/ECT@ECT
cc: Matt Harris/Enron Communications@Enron Communications, April
Hodgson/Enron Communications@Enron Communications
Subject: Re: Summer Intern: Paulo Oliveira

Vince, both Matt and April think that this type of research would be
value-additive to EBS.  I will be out all next week in a meeting with John
Griebling and other on a deal that is being worked out.  I understand that
you are following up with HR on all of our summer intern offers. Please make
sure Palo is given an offer and that he will work with April and Matt (he did
talk to Matt) on the topics that April and I suggested.

Regards,

Ravi.
----- Forwarded by Ravi Thuraisingham/Enron Communications on 02/20/00 12:41
AM -----

	Matt Harris
	02/17/00 08:08 PM

		 To: Ravi Thuraisingham/Enron Communications@Enron Communications
		 cc: April Hodgson/Enron Communications@Enron Communications
		 Subject: Re: Summer Intern: Paulo Oliveira

Looks interesting.

I would guess that there is a TON of research available (from @Home, AOL,
Roadrunner, Real, Microsoft, etc.) on Broadband's impact on the strategic
value of web properties.  Compiling this would be very helpful.

MH

	Ravi Thuraisingham
	02/17/00 12:15 PM

		 To: April Hodgson/Enron Communications@Enron Communications, Matt
Harris/Enron Communications@Enron Communications
		 cc:
		 Subject: Summer Intern: Paulo Oliveira

Hi April & Matt, here is additional information on the summer intern that
I've mentioned.

Matt, I know you know nothing about this! My discussion with April on the
possible research topic let me (& April) to believe that you would provide
great input on what the student can work on while he is here.

Regards,

Ravi.
EBS Research
----- Forwarded by Ravi Thuraisingham/Enron Communications on 02/17/00 02:09
PM -----

	Stinson Gibner@ECT
	02/17/00 11:23 AM

		 To: Vince J Kaminski/HOU/ECT@ECT
		 cc: Ravi Thuraisingham/Enron Communications@Enron Communications, Thomas D
Gros/HOU/ECT@ECT
		 Subject: Summer Intern: Paulo Oliveira

Vince:  Here is the information that I have on Paulo.    He would be slated
to work for the summer with April Hodgeson and Matt Harris on how streaming
media products may add value to advertising or some related area.
Actually, he would also be a good fit for helping to think ways to analyze
our Enron On-line data.    I have asked if he can send a resume.   In the
mean time, most of his relevant information is attached below.

--Stinson

---------------------- Forwarded by Stinson Gibner/HOU/ECT on 02/17/2000
11:14 AM ---------------------------

Paulo Rocha e Oliveira <paulo@MIT.EDU> on 02/10/2000 12:04:56 PM
To: "Stinson Gibner" <Stinson.Gibner@enron.com>
cc:
Subject: Re: Trip to Houston

Stinson,

Thank you for your e-mail.  My phone number is (617) 492-9551.

I graduated from Princeton University in 1996 (mathematics), and came
straight to MIT for a
Ph.D. in Operations Management at the Sloan Schoolof Management.  In my first
three years I took all the required coursework in mathematics,
optimization, stochastic processes, etc., as well as a number of courses in
psychology (at MIT and Harvard).  I am working with Prof. Gabriel Bitran,
and I am interested in the mathematical modeling of service operations.  In
particular, I am interested in the interaction between customers and
companies (hence the interest in psychology).  The (tentative) title of my
PhD thesis is "Pricing Substitute Products on the Internet", and I am
sending you the summary which I sent to Tom Gros a few weeks ago that will
give you an idea of what this research is about.

Thanks again, and I'm looking forward to meeting you and your research
group next week.

Paulo

Pricing Substitute Products on the Internet

Objective:

To develop new tools to decide pricing policies for goods and services sold
on
the internet.

Motivation:

This research is motivated by the fact that traditional choice and
optimization
models are not appropriate for internet-related businesses.  The technological
innovations associated with the internet brought about an overload of
information
which inevitably affects the ways in which consumers make choices.
Furthermore,
companies have a great deal of influence on how much information consumers can
have access to.

The problem of pricing substitute products is an important strategic issue
faced
by internet companies.  Consumers usually search for generic products (e.g.
VCRs
or computers) without knowing exactly what they will buy.  Companies can show
different products and different prices to each consumer.  This type of
flexibility
was not available until the internet came about.

The problem of pricing substitute products is not unique to the internet.  The
methodology developed by this research should be transferable to a number of
other settings, such as pricing services.  Services are unique, and there are
many cases where customers will only buy one of many services offered by a
given company.  Our model will help companies decide which services to offer
to which customers and how much to charge for these services.

Research Strategy:

Our research strategy is to divide the pricing problem into two components
which can be combined to generate optimal pricing strategies.  These
components are choice models and optimization models.

Choice Models:

Choice models describe how customers make choices.  The management literature
draws on two main sources for these models: psychology and economics.  The
common approach in psychology models is to use what are called heuristic
elimination methods.  These methods consist of the elimination of options
based on the sequential elimination of features until only one choice
remains.
These methods tend to be very context-specific and do not lend themselves very
easily to mathematical analysis.  Economists focus on utility-maximing models
that are significantly more mathematically tractable than psychological
models.
The most common economic model of choice is the logit model.  The problem with
these types of models is that they are not very accurate reflections of how
consumer make choices on the internet.  The first step in our research will
be
to develop choice models that capture the interactions going on between
customers
and companies on the internet.

Optimization:

Traditionally, the optimization problem consists of maximizing revenue over a
certain planning horizon.  On the internet, the problem of maximizing revenue
still exists, but there is also a need to learn about customers.  Short term
profit is based on sales, but long term profit is based on how well you know
your customers and are able to retain them.  The optimization problem must
therefore include a short term component (sales) and a long term component
(learning).


Hi Robin,

Voila.


===========================
Kathy Franz
Windows 2000 Desktop Support
Enron Corporate - EB2254E
kathy.franz@enron.com
713-345-4928 (voice)
713-327-4709 (pager)


Pat, remember a few days ago I was trying to track down this Argentina power
deal with Duke.  You might want to get in touch with Federico.

Mark, FYI, also, I don't know if there are any problems with power out of
Argentina.
---------------------- Forwarded by Tana Jones/HOU/ECT on 05/20/99 09:23 AM
---------------------------

Brent Hendry@ENRON_DEVELOPMENT
05/18/99 04:12 PM
To: Tana Jones/HOU/ECT@ECT
cc:
Subject: Re: Duke Energy International

Federico Cerisoli is in discussions with Duke's Argentina office about doing
a power swap.  Why they need a waiver for this I can not guess since the deal
will still be between a Duke entity and ECT(since EI does not have a swap
entity yet).  Is the confidentiality provision so narrow that they cannot
show the master to affiliates?  Do they want to show it to a non-affiliated
entity?  Any questions on the structure of the proposed deal can be forwarded
to Federico.  Let me know if this helps.

To: Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT @ ECT
cc:
Subject: Duke Energy International

Brent,

I am trying to track down the dealmaker on a deal in Argentina with Duke
Energy International.  All I know is that Duke is trying to get a waiver from
us on the confidentiality provision in the master swap agreement so they can
use it on the Argentina deal.  Credit doesn't appear to know anything about
the deal.  I'm don't even know if it is an EI or an ECT deal.  It may be EI
because he mentioned the financing of a generator.  I don't want to waive
anything until I track the business guy down.  Can you ask around and let me
know.  Thanks!


Here is the final version.  I'll bring copies with me tomorrow to Sacramento
and can drop them off at Hedy's office.  I meet with Kari Dohn at 10 AM and
will be attending the AB 1890 Implementation Group meeting at 1:30.  I can
drop off copies before I head out for the Dohn meeting.  If there's anything
else, just let me know.  Thanks.

Best,
Jeff


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Welcome to: DIAMONDS NEWSLETTER         Issue: 2001-08

The diamond, gems and fine jewelry information resource for
clients and friends of Diamond Source of Virginia, Inc.
http://www.DSOURCEVA.com

(unsubscribe instructions at bottom of this newsletter)
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
If you know of someone who will be getting engaged or
celebrating a special event such as an anniversary, birthday,
or baby's birth forward this newsletter to them so they will
know where to save money on a diamond or fine jewelry!
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
THIS ISSUE'S TOPICS
	August Birthstone: Peridot
	The Diamond Marketplace
	Famous Diamond People
	Diamond Copycats
	Ideal Cut
	Fancy Colored Diamonds
	Platinum as a Jewelry Metal
	Online Spending Trends
	Black Diamonds: Hot Trend But Be Careful
	Price Calculator
	Diamond and Jewelry Books
	Internet Marketing
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

AUGUST BIRTHSTONE: PERIDOT
=============================
Today's birthstone for August, peridot was also a favorite of
the ancients.  This lovely transparent yellowish green to deep
chartreuse stone was quite a powerful gem.  It was considered
an aid to friendship and was also believed to free the mind of
envious thoughts.  Because of its yellowish color, it was also
believed to cure or prevent diseases of the liver and dropsy.
And if that's not enough, if worn on the left arm it would
protect the wearer from the evil eye.

Peridot is also popular today, but probably more for its
lovely shade of green than its professed powers.  While not
particularly brilliant, the richness of the is color can be
exceptional.  It comes in shades of yellowish green to darker,
purer green colors.  Unfortunately, because of its rarity
most people never see peridot in the deeper, purer green color
that is so prized.

Some caution should be exercised in wearing peridot.  It is not
a very hard stone and may scratch easily.  Also, some stones-
like green sapphire or green tourmaline-can look like peridot
and be mistaken or misrepresented.

THE DIAMOND MARKETPLACE
============================
In diamond bridal jewelry, the current demand is for:
* G-H color and SI-VS clarity
* Sizes form 1-1.5 carats and over 2 carats
* Round brilliants and princess cuts
* Ideal cuts

FAMOUS DIAMOND PEOPLE: DIAMOND JIM BRADY (1856-1917)
=====================================================
"Them that has 'em wears 'em," said Diamond Jim Brady, a man
who did much to popularize diamonds in the United States.
Born poor, honest, and Irish, James Buchanan Brady was a
salesman of extraordinary abilities.  During the "Gay
Nineties," when American railroads were expanding across
the continent, Brady made a fortune estimated at more than
#10 million selling railroad cars.  During World War I, he
sold 38,000 cars to the French government in one sale.

Brady had a different set of monogrammed jewelry for every
day of the month, including a "Transportation Set" comprised
of a jewelled rail car, tank car, and caboose studded with
2,548 diamonds and other precious stones.  He personally
owned more than 20,000 diamonds, and sometimes wore
$25,000 in jewelry on single day (a fortune in that day).

When he died, Brady's will left a few of his most
elaborate pieces of jewelry to long-time friends.  The rest
of his fortune went to charity.

DIAMOND COPYCATS
=============================================
Cubic zirconia dates to 1937, when two German mineralogists
discovered the cubic form of zirconium oxide. Soviet
scientists learned how to "grow" this mineral in a laboratory
in the 1970s, and Swarovski & Co. began producing it for
mass consumption in the 1980s. As it became more widely
available, CZ quickly became popular with jewelry designers.
New developments have led to a sparkling array of CZ in every
color imaginable.

Though cubic zirconia looks like diamond, there are some
noticeable differences. CZ has slightly less brilliance than
diamond and a hardness of 8.5 on the Mohs scale [diamond is
10]. CZ is 75% heavier and, because it's grown in a
controlled environment, a crystal isn't used if it's not
perfect.

Moissanite was discovered in 1893 when Nobel-prize-winning
scientist Henri Moissan uncovered minute quantities of a
new mineral from a meteorite that crashed thousands of years
before. In the late 1980s, Cree Research, Durham, NC,
developed a way to produce moissanite crystals in a lab. In
1995, a master diamond cutter discovered that when cut
properly, created moissanite crystals could look like diamond.
Moissanite's color is comparable to I-J-K colors of diamond,
is 9.5 on the Mohs scale and has a refractive index of 2.648-
2.691 (diamond is 2.417), dispersion of 0.104 (diamond is
0.044) and specific gravity of 3.21 (diamond is 3.52).

IDEAL CUT
===================
An Ideal Cut round brilliant diamond is one which is cut
to a specific range of proportions (Ideal proportions) and
also has an Ideal (0) grade for both polish and symmetry.
This has been defined by the American Gem Society Labs. as
the top, or zero grade, in their grading system. Diamonds
attaining this grade are sometimes referred to as AGS000
(AGS triple zero's). The proper grade, however, is simply
AGS0 (AGS zero). This cut grade has also come to be called
the "American Ideal Cut" based on its acceptance in this
country.  A true AGS triple zero or triple ideal is a diamond
where the proportion (cut), polish and symmetry are all
at the top (zero) grade.

Unfortunately, the Gemological Institute of America (GIA)
does not provide a cut grade in its grading report. They
provide only the table % and total depth % for the stone.
Therefore, it is not possible to determine the individual
contributions of the crown, girdle and pavilion to the total
depth and no crown or pavilion angles are given. In order
to determine if a GIA-graded diamond meets the AGS Ideal (0)
grade for proportion, it is necessary to measure the stone
for all the missing data. Fortunately, this can be done quite
quickly and easily using an automated proportion analyzer
called a "SARIN" (after the Co. which produces it) whose s
oftware can be programmed to AGS specifications. Thus, since
GIA grades of Excellent for polish and symmetry are considered
equivalent to the AGS Ideal grades, a GIA-graded diamond can,
with a Sarin analysis give as much information as an AGS
grading report. This information is important in making an
informed buying decision.

FANCY COLORED DIAMONDS
==============================================
The GIA grades the saturation of color by 9 different verbal
categories. They are: Faint, Very Light, Light, Fancy Light,
Fancy, Fancy Dark, Fancy Intense, Fancy Deep and Fancy Vivid.
Normally, Faint, Very Light, and Light in sizes under three
carats are not considered exceptional enough to pay premiums
for. To collect or mount in jewelry, these stones will often
trade in the same ranges as nice white diamonds. Often
mounting a stone in these saturation categories will "kill"
the color. Light pink and blue in a larger stone may be
desirable, if, and only if, the stone doesn't turn white when
mounted. Diamond dealers often refer to these color categories
as those you "have to read the certificate to find the color".
Generally avoid these stones unless you are looking at eye
clean 5-15 carat "light" pinks or blues. They will be expensive
stones.

The rarest and most valuable colored diamonds are vibrant reds.
In fact,  one of the highest per-carat prices ever paid for a
diamond was for a purplish red stone weighing just over
0.95 carats.  Sold at auction in 1987,  this fiery beauty
brought an astounding  $926,000 per carat.  More recently,  a
5.11 carat red diamond is rumored to have sold privately for
$8 million.  However,  not all fancy colored diamonds sell for
such colorful prices  (please excuse the pun).

PLATINUM AS A JEWELRY METAL
====================================
Throughout the world, platinum jewelry is made in a purity
of at least 85 per cent platinum, and in Europe and the USA,
95 per cent is the norm. Other platinum group metals -
palladium, ruthenium and iridium - and copper and cobalt are
commonly alloyed with platinum to optimize its working
characteristics and wear properties.

One of the main advantages of platinum for jewelry
fabrication is its strength and resistance to tarnish. It can
be repeatedly heated and cooled without hardening and
oxidation effects, while even the most slender sections of
platinum permanently retain their shape, providing a secure
setting for diamonds and giving jewelry designers a freedom
of invention not always possible with other materials. Perhaps
the best example of platinum's technical virtuosity is the
tension ring, in which a gemstone is held in place by the
tensile strength of the platinum ring shank alone.

Platinum does make certain demands on the jeweler's skills.
It requires high temperature melting and casting equipment
(pure platinum melts at 1769'C) and a scrupulously clean
working environment. Careful attention to polishing technique
is needed to achieve the highly reflective finish which shows
a diamond or other precious stone at its best.

ONLINE SPENDING TRENDS
====================================
Though Internet users are spending more time at retail sites,
online spending is down. Forrester Research reported online
spending fell to $3.2 billion in June from $3.9 billion in
May. Online shoppers spent an average of $245 per person
online in June, a decrease of $20 from May.

Internet usage overall, however, is up. Neilson/NetRatings
reported 58% of U.S. households, nearly 102 million
households, are online. In July, Internet users spent an
average of 10 hours and 19 minutes online, up 7% from a year
earlier. The growth in Internet use, Neilson/NetRatings
reports, is driven by late adopters and more aggressive use
from the enormous Internet population.

While there has been a drop in online jewelry sales the
past several months compared to last year, forecaster
agree that online jewelry sales will outpace the growth of
consumer e-commerce as a whole in the next three years. As
customers gain experience and here more success stores about
online diamond and jewelry buying, their increased
confidence translates into increased sales.

BLACK DIAMONDS: HOT TREND BUT BE CAREFUL
=================================================
Black diamonds are not new.  They have been a curiosity for
centuries, but is a recent new trend for jewelry.  They are
typically opaque, very heavily included, often with surface
reaching inclusions and fractures that mar desirability.
They are also very difficult to cut, so you often find them
in poor makes.  Buyers need to be aware that most of the
black diamonds currently being used in jewelry is treated
and not natural.  There is nothing wrong with using
treated black diamonds as long as you are told they are
treated and you pay the appropriate price, as opposed to
the more expensive natural black diamonds.

Since the natural black diamonds are so hard to cut, melee
sizes used in pave work is almost always treated.  Here are
some simple test for determining natural versus treated.
* Under strong light, treated diamonds have edges that
appear deep brown rather than black
* When the surface is examined with a 10x loupe, treated
diamonds seem spotty or the color is uneven
* When tested with a electronic diamond tester, treated
black diamonds generally are indicated as "not diamond."

While the treated black diamond is in fact a diamond,
the electronic diamond tester indicates it is not because
during the treatment, the material becomes very electrically
conductive.

PRICE CALCULATOR
================
Probably the most popular feature of our web site is the
diamond price calculator where shoppers can input a shape,
color grade, clarity grade, and carat weight to determine
an estimate of our price for that type of diamond.  If you
haven't tried it yet, check it out at:
http://www.dsourceva.com/cost.htm#calc

DIAMOND AND JEWELRY BOOKS
=========================
One of the best ways to be a better shopper for diamonds and
fine jewelry is to read one or more of the great books
listed at the following web page:
http://www.dsourceva.com/books.htm

INTERNET MARKETING
=========================
If you or any of your friends have a web site and want to know
how to get more visitors, check out some of the tools we have
found to help with internet marketing at:
http://www.dsourceva.com/internetmarketing.htm

TOPICS FOR FUTURE NEWSLETTERS
=============================
If you have any topics, questions, or issues you would like to
see addressed in future DIAMOND NEWSLETTERS, please send us
an email. Thank you.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
If you wish to unsubscribe to this newsletter, simply reply to
this email and in the subject line put only the words:
        unsubscribe diamonds
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Denny & Anne Reinke
Denny@DSOURCEVA.com
1-888-477-8385 (toll free)
Diamond Source of Virginia, Inc

http://www.DSOURCEVA.com


It's Leah Moss at the pipeline.  It's Judy Townsend here.  Leah's number is
713-627-5054.

From: Joan Quick on 01/21/2001 05:02 PM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: tetco [east texas] transportation

do you know who's our tetco [east texas] transportation person nowadays?
thanks.


Greetings folks:
Here is the "solutions" piece that went in Ken Lay's briefing packet.  Copies
of the full packet will be distributed ASAP.
Best,
Jeff


Press release attached.

 -----Original Message-----
From: 	"Damon Silvers" <Dsilvers@aflcio.org>@ENRON
Sent:	Friday, November 02, 2001 11:18 AM
To:	Lay, Kenneth
Subject:	AFL-CIO Press Release

Ken,

The attached was inadvertantly omitted from my earlier  email.  My apologies.

Damon A. Silvers
Associate General Counsel
AFL-CIO
815 16th Street, N.W.
Washington, DC 20006
(202) 637-3953
fax (202) 637-5323DSilvers@aflcio.org

 - AFL-CIO Enron press release.doc


Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 03/27/2001 12:46 PM -----

	Tom Doukas@ENRON
	03/27/2001 11:18 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Sheila Glover/HOU/ECT@ECT, David A Wall/Risk Mgmt/LON/ECT@ECT
		 Subject: Re: prime broker account numbers

The accounts at Bear owned by the credit book are:

The old account under ECT name: 102-04919
This account is empty but not yet closed

The current ENA acct is: 102-06181
This is where the positions are now held

These are the accounts that need to go to Enron Credit Inc

Thanks,

Tom

From: Sara Shackleton@ECT on 03/27/2001 10:22 AM
To: Tom Doukas/NA/Enron@ENRON
cc:

Subject: prime broker account numbers

Tom:  Which accounts are being transferred to Bear?  Are these internal
account numbers?  Thanks

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 03/27/2001 10:20 AM -----

	Sheila Glover
	03/08/2001 11:31 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: prime broker account numbers


me thinks you missed a 9

"Eva Pao" <epao@mba2002.hbs.edu> on 05/13/2001 02:58:28 PM
Please respond to <epao@mba2002.hbs.edu>
To: <John.Arnold@enron.com>
cc:
Subject: RE: Extra credit

1.99999999999999999999999999999999999

-----Original Message-----
From: John.Arnold@enron.com [mailto:John.Arnold@enron.com]
Sent: Sunday, May 13, 2001 4:37 PM
To: epao@mba2002.hbs.edu
Subject: Re: Extra credit

rules to a game:
You flip a coin. If you get tails you win 0.  if you get heads, i give you
$1.  Keep flipping until you get a tails, at which point you walk away with
the money.  however, each heads you get after the first you double your
money.  So if you flip heads 3 times and then tails, you get $4.  What's
you bid/offer on playing this game?  (would you pay $.5 to play? $1? $2?
what you charge me play against you?)


Dear Markus,

I currently don't have any info that would help here.  I suggest we address
these issues with Lou/Marcelo when we are in NY this week.

Regards

Shona

Marcus Nettelton
08/14/2000 04:57 PM
To: Edmund Cooper/LON/ECT@ECT, Shona Wilson/NA/Enron@Enron
cc: Robert Bruce/NA/Enron@Enron, Sara Shackleton/HOU/ECT@ECT, Justin
Boyd/LON/ECT@ECT

Subject: MG London, Inc.

Edmund/Shona

I thought either or both of you would be best placed to assist Bob Bruce with
this request.

 Would you be kind enough to see what documents we have which may throw some
light on MG's licensed status.
As to whether any licensing/registration/disclosure requirements may apply
"upward" to any Enron entity, Edmund do you know whether the MG parent
company was so obligated?

Regards,

Marcus

---------------------- Forwarded by Marcus Nettelton/NA/Enron on 08/14/2000
04:33 PM ---------------------------
From: Robert Bruce on 08/14/2000 11:55 AM
Sent by: Robert Bruce
To: Marcus Nettelton/NA/Enron@ENRON
cc:

Subject: MG London, Inc.

Marcus: per our discussion -- any direction would be appreciated -- thanks,
Bob
----- Forwarded by Robert Bruce/NA/Enron on 08/14/2000 11:54 AM -----

	Robert Bruce
	Sent by: Robert Bruce
	08/11/2000 06:02 PM

		 To: justin.boyd@enron.com; jbarrett@mgltd.com
		 cc: Sara Shackleton/HOU/ECT@ECT
		 Subject: MG London, Inc.

Hello, Justin and Jon, this is Bob Bruce with the Enron North America legal
department in Houston.  Sara and I were wondering about a few things; perhaps
David Gilberg or someone else is already addressing these issues --

(1) Given MG London's status as a licensed FCM and CTA, did Enron's
acquisition of MG require any CFTC filing?  If so, Sara and I would like to
get a copy of the filing.

(2) Sara and I were also curious as to whether, or to what extent, CFTC
licensing/registration/disclosure requirements may apply "upward" to any
Enron entities or their officers.

Please let us know if you can shed any light on these areas, or if there is
someone else we should be checking with on these matters.  Thanks -- Bob


-----Original Message-----
From: 	Phillips, Marc
Sent:	Wednesday, September 26, 2001 4:11 PM
To:	Woods, Trevor
Subject:	1/22/01 Memo to Jim Prentice

FYI. If you do meet with Jim Prentice, I thought you would be interested in the memo I sent to him back in January. It was sent via Lotus Notes so I copied the text from that message below.

Mike Terraso forwarded a question from you about the worth of emission credits if the methanol plant is shut down and the credits are sold on the open market. The new Houston non-attainment regulations that apply to the generation of emission credits just appeared in the Texas Register on January 9, 2001 so the value of the credits are very speculative at this time. However I will attempt to make some educated guesses about the value of the credits. Under the new rules, emission credits can be created by the shutdown of the methanol plant for nitrogen oxides (NOx), volatile organic compounds, (VOCs) and carbon monoxide (CO).

Under the new rules there are three types of emission credits that would apply to the methanol plant. They are 1) Emission Reduction Credits (ERCs), 2) Discrete Emission Reduction Credits (DERCs) and 3) "allocations" under the new cap and trade program. As an example, if you shut down an emission source that emitted 100 tons/year of a pollutant you can obtain 100 tons/year of ERCs as long as no new rules are passed that would require further reduction of the emissions. If you shut down the same source, you can obtain 100 tons of DERCs each year until new rules are passed that would require further reductions. ERCs and DERCs for NOx and VOC are not new and were available under the old trading rules. ERCs and DERCs for CO are new under the new rules that just passed. Allocations under the cap and trade rules are new and (for now) only apply to NOx emissions. Allocations are allotted each year to a location and form the basis for their cap. They are based on historic operating hours and the new NOx limits (e.g., 0.5 grams/hp-hr for engines and 0.01 lbs/MMbtu for the reformer) and a company must buy allocations every year if they are over their "cap" and can sell allocations every year if they are under their cap. If a plant is shutdown, you would receive allocations and could sell them to other companies. Since reductions under the cap and trade program start in 2004 it is anticipated allocations would begin to have value in 2004.

After review of the data for the methanol plant, it appears that you would have approximately 500 tons/year of VOC ERCs or DERCs, 150 tons/year of CO ERCs or DERCs, and 85 tons/year of NOx ERCs, DERCs, or allocations, if you shut down the plant. You would have to make the determination whether the ERCs, DERCs or allocations (for NOx only) have the most value if you sell the credits. It is anticipated that ERCs, which are a one-time creation, will generally have a reduced value in future years because they cannot be used in the cap and trade program. Allocations and DERCs can be created every year and will be needed every year by companies for compliance.

The value of VOC ERCs under the old rules typically were about $3,000/ton so the value of 500 tons/year of VOC could be $1,500,000. I would not anticipate a great change in the value of VOC ERCs under the new rules.

CO ERCs and DERCs being new have no history, and I could not find anyone that could even make an educated guess as to their value, but since the CO rules are not anywhere near as stringent as the NOx and VOC rules, I would not anticipate that their value would be that great.

The value of NOx ERCs under the old rules were about $3,500/ton. Under the new rules, the expense of putting on new controls such as selective catalytic reduction (SCR) is anticipated to be very great which should drive up the price of NOx credits. Remember that companies will have to make the decision to either purchase credits or put on controls, whichever is most cost effective. TNRCC has estimated that allocations could be worth as much as $50,000/ton (which would place the value of the 85 tons of NOx credits at over $4,000,000) under the new rules, but most in industry do not believe they will be worth that much. A value of $3,000-25,000/ton of NOx is conceivable which would value the NOx allocations available from a shutdown at $255,000 to $2,125,000. Keep in mind that the value of credits will be driven by market forces such as supply and demand and the cost of controls. Also remember that allocations are needed every year so this would be an annual revenue stream for Enron.

Since the cap and trade program is so new and the way the rules will be implemented is still being sorted out by TNRCC, I would suggest that this information should be updated at a later date.

If you have any questions, give me a call at 713-646-7646.

Marc N. Phillips
Director, Regulatory Technical Analysis
713-646-7646 (cell 713-594-6919)
marc.phillips@enron.com


I asked El Paso's investment bankers (Credit Suisse First Boston) to permit
us to disclose to our minority Partners, Williams and TransCanada,  that we
have an offer outstanding to purchase Midwestern pipeline.   We would prefer
to mention this offer to Williams first, to obtain their buy in on the
strategy of acquiring it through NBPL rather than at the MLP level.   We sent
the bankers revised Confidentiality Agreements for their review.  However,
the only feedback from the bankers is that the two primary contacts are "out
of the country".   Therefore, I may not  be able to mention this at
tomorrow's meeting.


I can be deleted also.

-----Original Message-----
From: Dalia, Keith A - TOS-DITT1 [mailto:kadalia@bpa.gov]
Sent: Tuesday, May 15, 2001 4:40 PM
To: RRGA-L@LIST.RTOWEST.ORG
Subject:

You have been added to the RRGA-L mailing list (RTO West Congestion Model
Content Group) by Keith Dalia <kadalia@BPA.GOV>.

Please save this message for future  reference, especially if this is the
first time you subscribe to an  electronic mailing list. If you ever need
to  leave the  list,  you  will find  the  necessary instructions  below.
Perhaps  more importantly,  saving a  copy of  this message  (and of  all
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To send  a message to  all the people  currently subscribed to  the list,
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call  someone's  voice  line,  the  person receiving  the  call  will  be
inconvenienced, especially if your FAX then re-dials every 5 minutes. The
fact that  most people  will eventually  connect the  FAX machine  to the
voice line to  allow the FAX to  go through and make the  calls stop does
not mean  that you  should continue  to send FAXes  to the  voice number.
People would just get mad at you.  It works pretty much the same way with
mailing  lists, with  the difference  that  you are  calling hundreds  or
thousands of people  at the same time, and consequently  you can expect a
lot of people to get upset if  you consistently send commands to the list
address.

You may leave the list at any  time by sending a "SIGNOFF RRGA-L" command
to LISTSERV@LIST.RTOWEST.ORG. You can also tell LISTSERV how you
want it to confirm  the receipt of messages you send to  the list. If you
do not trust  the system, send a "SET RRGA-L  REPRO" command and LISTSERV
will send you a  copy of your own messages, so that you  can see that the
message was distributed and did not get damaged on the way. After a while
you  may find  that this  is getting  annoying, especially  if your  mail
program does not  tell you that the  message is from you  when it informs
you that new mail has arrived from  RRGA-L. If you send a "SET RRGA-L ACK
NOREPRO" command, LISTSERV will mail you a short acknowledgement instead,
which  will look  different in  your  mailbox directory.  With most  mail
programs you  will know immediately  that this is an  acknowledgement you
can read  later. Finally,  you can  turn off  acknowledgements completely
with "SET RRGA-L NOACK NOREPRO".

Following  instructions from  the list  owner, your  subscription options
have been set to "NOFILES REPRO" rather than the usual LISTSERV defaults.
For more  information about subscription  options, send a  "QUERY RRGA-L"
command to LISTSERV@LIST.RTOWEST.ORG.

Contributions sent to this list are automatically archived. You can get a
list of the available archive files  by sending an "INDEX RRGA-L" command
to  LISTSERV@LIST.RTOWEST.ORG. You  can then  order these  files
with a "GET RRGA-L LOGxxxx"  command, or using LISTSERV's database search
facilities. Send an  "INFO DATABASE" command for more  information on the
latter.

This  list is  available  in digest  form.  If you  wish  to receive  the
digested version of the postings, just issue a SET RRGA-L DIGEST command.

Please note that  it is presently possible for other  people to determine
that  you are  signed up  to the  list through  the use  of the  "REVIEW"
command,  which  returns   the  e-mail  address  and  name   of  all  the
subscribers. If  you do not  want your name to  be visible, just  issue a
"SET RRGA-L CONCEAL" command.

More  information on  LISTSERV  commands  can be  found  in the  LISTSERV
reference  card, which  you can  retrieve  by sending  an "INFO  REFCARD"
command to LISTSERV@LIST.RTOWEST.ORG.


-----Original Message-----
From: Tennariello, Vincent G. [mailto:Vincent.Tennariello@pseg.com]
Sent: Wednesday, November 15, 2000 8:59 AM
To: Michael Fortugno (E-mail)
Subject: FW: New Palm Beach Ballot

-----Original Message-----
From: Meerdink, Eric P.
Sent: Wednesday, November 15, 2000 8:52 AM
To: Chamberlin, Thomas C.; Tennariello, Vincent G.; Buccisano, Vincent
D.; Tyurin, Eugene N.; Krupitsky, Alexander E.; Dietterle, Mary E.;
Janaitis, Mario A.; Burton, Pierson M.
Subject: FW: New Palm Beach Ballot

 - BallotWPBF11.11.00.doc
 - NoName


who were you trying to bet on??

John J Lavorato@ENRON
11/26/2000 08:55 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: Re:

That's cheap


The new function will be available to externals tomorrow.  Lavo has asked us to not suspend our products once they have been activated.   The market submits orders and the orders can't be seen on the screen unless your product is active.  Stack manager now has the option to leave a product active while clearing all bids and offers.  Please try not to use this new function unless you have to.

YOU MUST GO INTO EACH OF YOUR PRODUCTS AND SET THE BUSINESS HOURS.  I WOULD USE 730 TO 1600 FOR MOST PRODUCTS AND 730 TO 1030 FOR CASH.

Thanks,
Mike


----- Forwarded by Tana Jones/HOU/ECT on 02/21/2001 05:14 PM -----

	Walter Guidroz@ENRON
	02/21/2001 05:09 PM

		 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Debbie
R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli Campbell/HOU/ECT@ECT,
Cynthia Clark/Corp/Enron@ENRON, Enron Europe Global Contracts and Facilities,
Enron Europe Global CounterParty/LON/ECT@ECT, Stephanie Sever/HOU/ECT@ECT,
Tom Moran/HOU/ECT@ECT, Claudia Clark/HOU/ECT@ECT, William S
Bradford/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT, 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, Lee Munden/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/NA/Enron@Enron, Tanya Rohauer/HOU/ECT@ECT, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications, EOL Call Center, Bernice Rodriguez/HOU/ECT@ECT, Bill D
Hare/HOU/ECT@ect
		 cc:
		 Subject: EOL approvals, 2-21-01

Please see attached.


Randy,
 Sorry for the delay.  The redline is from ENA legal.  The blueline is at my
suggestion.

Thanks,
Perry


Kay,

I still have not received the revised, signed LLC opinion.  Please let me know when you plan on sending it.

Thanks.

Maurice Blanco


made some changes to the transaction summary, am i on the right track? please hold my hand, stuart scares me and i dont want to mess up again, he is not nice


Doesn't this constitute a change in Edison's position, i.e., I thought they'd indicated that everyone would be paid by end of Q1'03.  Now it appears they're saying that suppliers will get paid by year-end '03.  Am I missing something?  Thanks for the info.

Best,
Jeff

-----Original Message-----
From: Tribolet, Michael
Sent: Monday, October 15, 2001 11:27 AM
To: Schneider, Chip; Mellencamp, Lisa; Curry, Wanda; Dasovich, Jeff;
Bradford, William S.
Subject: FW: ML Power Group-EIX-Update Following Meeting With Management

-----Original Message-----
From: Hunter Horgan [mailto:HHorgan@Amaranthllc.com]
Sent: Monday, October 15, 2001 11:25 AM
To: Tribolet, Michael
Subject: FW: ML Power Group-EIX-Update Following Meeting With Management

-----Original Message-----
From: ML Power Group [mailto:Maria_Melone@ml.com]
Sent: Monday, October 15, 2001 12:24 PM
To: hhorgan@paloma.com
Subject: ML Power Group-EIX-Update Following Meeting With Management

* We met with Edison management on Friday (10/12) to discuss the recently
announced settlement agreement between the company and the CPUC.  The
agreement, which was approved by Judge Lew on 10/5, provides a framework for
Edison to repay creditors on a Q1 2002 time frame and, ultimately, to resume
power procurement responsibilities.
* Edison?s current estimate is that past power procurement debts will be
recovered by year-end 2003.  Discussions are ongoing with banks regarding a
bridge loan, which is key in terms of getting creditors paid on time.
* Negotiations with the renewable QF generators continue with both sides
apparently seeking a fixed-price contract.  The main issue is likely to be
timing of the switch to a new pricing formula, particularly as there will
likely be a substantial increase over current payments indexed to gas
prices.
* Regarding other generator creditors, Edison will be pursuing a negotiated
settlement.  One key date in this process is March 31, 2002, after which
Edison is committed to join the state and the CPUC in pursuing legal action
to recover alleged generator overcharges.
* One option is a so-called ?grand agreement? under which Edison would agree
on the starting amount owed to each generator.  This would potentially
release Edison to negotiate with the individual generators directly, as
opposed to through the PX/ISO.
* Edison expects to provide more detail of its earnings outlook within a few
weeks ? but probably not in time for the Q3 results release though.
* Several key accounting issues need to be resolved first, notably whether
or not the PROACT (Procurement Related Obligations Account) will be set up
as a regulatory asset.  Another key issue outstanding is the utility
retained generation (URG) rate proceeding currently under way at the CPUC.
* Given the above uncertainties, it is still difficult to be precise about
the earnings impact of the Edison settlement.  For the time being we are
sticking with our 2002E of $1.60, comprising $1.40 from the utility and
$0.20 for the non-regulated businesses and parent.  There is potential
upside to our numbers, particularly if previous tax sharing arrangements are
restored under the terms of the settlement agreement.
* Edison is trading at 9.6x our 2002E, only modestly below the group average
multiple.  We see only modest upside from here at this stage, although
clarity on the non-regulated outlook is a potential positive catalyst.


Rosalie,

Please see attached letter to Mr. Ken Lay for Mr. Kase Lawal.

Thank you

Tommie


We had talked about doing a preliminary tile discussion on the weekend of
the 28th.  I need to know if Karen is still up for this.  Chris and Cristina
both want to go to the dome that weekend (can't go any other time and can't
go for memorial day because of her grandfathers big birthday).  I know Karen
doesn't like a big group and it might be bigger than she likes so you should
talk to her and find out.  Do you guys want to come to the dome that weekend
also?  I know Chris would like to dive with you, but I told him I didn't
know your plans...

Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
cameron@perfect.com
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)

-----Original Message-----
From:  Colleen Silva [mailto:Csilva@redsky.com]
Sent: Wednesday, April 04, 2001 3:30 PM
To: 'Cameron Sellers'; 'Sean Maloney'; 'Scott Laughlin'; Colleen Silva;
psellers@pacbell.net; Jeff_Dasovich@enron.com; Prentice_W_Sellers@lecg.com
Subject: RE: COED SOFTBALL IS BACK!

hey can anyone give me karen's home and work #? i've some info to pass on to
her.... thanks!
-----Original Message-----
From: Cameron Sellers [mailto:cameron@perfect.com]
Sent: Wednesday, April 04, 2001 12:12 PM
To: 'Sean Maloney'; 'Scott Laughlin'; Csilva@redsky.com;
psellers@pacbell.net; Jeff_Dasovich@enron.com;
Prentice_W_Sellers@lecg.com
Subject: RE: COED SOFTBALL IS BACK!

The Sheas can't play.  Chris hates softball and Cristina is PREGNANT!!

Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
cameron@perfect.com
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)

-----Original Message-----
From: Sean Maloney [mailto:skmaloney@yahoo.com]
Sent: Wednesday, April 04, 2001 11:17 AM
To: 'Scott Laughlin'; Csilva@redsky.com; psellers@pacbell.net;
cameron@perfect.com; Jeff_Dasovich@enron.com; Prentice_W_Sellers@lecg.com
Cc: 'Anderluh, Brian'; 'leezim@stanfordalumni.org';
'presidiosoftball@yahoo.com'
Subject: RE: COED SOFTBALL IS BACK!

Hey guys,

Glad to see you are interested.
Contact Lee or Brian to sign up a team.
They are copied on this e-mail and there numbers are below.

> >Lee Zimmerman (415 902 7194) and Brian Anderluh (415 609 4973)

See you soon.
Sean
-----Original Message-----
From: Scott Laughlin [SMTP:scottwl@hotmail.com]
Sent: Wednesday, April 04, 2001 11:01 AM
To: Csilva@redsky.com; psellers@pacbell.net; cameron@perfect.com;
Jeff_Dasovich@enron.com; Prentice_W_Sellers@lecg.com
Cc: skmaloney@yahoo.com
Subject: RE: COED SOFTBALL IS BACK!

Yeah, where are you Sean??

>From: Colleen Silva <Csilva@redsky.com>
>To: 'Prentice Sellers' <psellers@pacbell.net>, Cameron Sellers
><cameron@perfect.com>, 'Scott Laughlin' <scottwl@hotmail.com>, Colleen
>Silva <Csilva@redsky.com>, Jeff_Dasovich@enron.com,
>Prentice_W_Sellers@lecg.com
>CC: skmaloney@yahoo.com
>Subject: RE: COED SOFTBALL IS BACK!
>Date: Wed, 4 Apr 2001 10:31:38 -0700
>
>we need to respond today cuz all the spots are nearly already taken, is
>that
>right sean?
>
>-----Original Message-----
>From: Prentice Sellers [mailto:psellers@pacbell.net]
>Sent: Tuesday, April 03, 2001 10:59 PM
>To: Cameron Sellers; 'Scott Laughlin'; Csilva@redsky.com;
>Jeff_Dasovich@enron.com; Prentice_W_Sellers@lecg.com
>Cc: skmaloney@yahoo.com
>Subject: RE: COED SOFTBALL IS BACK!
>
>
>I think you mean right field.  And catcher.  We'll need more than 9 people
>cause I'm sure there'll be times when people can't make it.  Don't want to
>have to forfiet just cause we don't have enough people.  What about the
>Sheas?
>
>-----Original Message-----
>From: Cameron Sellers [mailto:cameron@perfect.com]
>Sent: Tuesday, April 03, 2001 3:58 PM
>To: 'Scott Laughlin'; Csilva@redsky.com; Jeff_Dasovich@enron.com;
>Prentice_W_Sellers@lecg.com; psellers@pacbell.net
>Cc: skmaloney@yahoo.com
>Subject: RE: COED SOFTBALL IS BACK!
>
>
>I'm game, but I'm not good.  I can share left field with Colleen.
>
>
>Cameron Sellers
>Vice President, Business Development
>PERFECT
>1860 Embarcadero Road - Suite 210
>Palo Alto, CA 94303
>cameron@perfect.com
>650.798.3366 (direct dial)
>650.269.3366 (cell)
>650.858.1095 (fax)
>
>  -----Original Message-----
>From: Scott Laughlin [mailto:scottwl@hotmail.com]
>Sent: Tuesday, April 03, 2001 3:49 PM
>To: Csilva@redsky.com; Jeff_Dasovich@enron.com;
>Prentice_W_Sellers@lecg.com; psellers@pacbell.net; cameron@perfect.com
>Cc: skmaloney@yahoo.com
>Subject: RE: COED SOFTBALL IS BACK!
>
>This is really weird. While you guys were here exchanging e-mails about a
>possible softball team, we were in Mexico, where Eldon kept asking me, over
>tequilla masquerading as margaritas, if I thought Colleen needed any help
>with her swing...
>
>I'd be game for this. Can we get 9 people?
>
>
> >From: Colleen Silva <Csilva@redsky.com>
> >To: Colleen Silva <Csilva@redsky.com>, 'Jeff Dasovich'
> ><Jeff_Dasovich@enron.com>, "'Jeff_Dasovich@enron.com'"
> ><Jeff_Dasovich@enron.com>, "'Prentice_W_Sellers@lecg.com'"
> ><Prentice_W_Sellers@lecg.com>, 'Prentice Sellers' <psellers@pacbell.net>,
> >'Scott Laughlin' <scottwl@hotmail.com>, 'Cameron Sellers'
> ><cameron@perfect.com>
> >CC: 'Sean Maloney' <skmaloney@yahoo.com>
> >Subject: RE: COED SOFTBALL IS BACK!
> >Date: Fri, 30 Mar 2001 13:19:16 -0800
> >
> >can we please make a softball team and i promise to play back up left
>field
> >and not hold a majorly important position...... and i think we can even
> >talk
> >sean into cheating for us and calling things good for our team.... anyone
> >interested?
> >
> >and sean, willyou please send this to molly? (i don't have her email...)
> >
> >-----Original Message-----
> >From: Sean Maloney [mailto:skmaloney@yahoo.com]
> >Sent: Wednesday, March 28, 2001 8:40 AM
> >To: 'amorrison@eaminvest.com'; 'amy_e_parsons@hotmail.com'; 'Black,
> >Kirk'; 'boyden, mike'; 'Brad Zampa'; 'cameron@iwanto.com';
> >'bzampa@michaeloconnor.com'; 'Campbell, Laura Jean,M.D.'; 'Chad
> >Laurendeau'; 'Chanda Keefe'; 'Chuck Muller (E-mail)'; 'CKO'; 'Clahan,
> >Gena'; 'Clahan, Kevin'; 'Colleen Silva'; 'Costabile, Marina'; 'Dean
> >Holter (E-mail)'; 'deirdre polson'; 'Eddie Zalayet'; 'eisler, staci';
> >'Erik Sogge'; 'Evans, Ingrid'; 'Eugenia Clahan'; 'Francine Hunt'; Gia
> >Lawson; 'Glancy, Kerry'; 'Gurvey, Jennifer'; 'H_Newsom@plumpjack.com';
> >'Hawkins, Chris'; 'Heather Stein'; 'Hollenbeck, Chris'; 'Holter, Dean';
> >'Hyde, Amy'; 'Jason Fuchs'; 'Jeff Dasovich'; 'Jeff Sciaroni';
> >'Jeff_Dasovich@enron.com'; 'Jenckes, Lenlee'; 'John Horton';
> >'JRGoincmpg@aol.com'; 'Kate Ryan'; 'kerr, home'; 'Kramer, kirise';
> >'Laura Smith'; 'Leutwyler'; 'Louis on the road'; 'marlene burt';
> >'mattreis'; 'mboyden@portal.com'; 'Myers, Scott'; 'Nino-Murcia, Elisa';
> >'Pete Scott'; 'Pete Woodring'; 'Peter_Woodring@ustrust.com';
> >'PMAYCOCK@us.oracle.com'; 'Prentice_W_Sellers@lecg.com'; 'Prentice
> >Sellers'; 'Purdy, Tom'; 'Reis, Kimberlie'; 'Rochios, Matt'; 'sarmiento,
> >angela'; 'Scott Greenberg'; 'Scott Laughlin'; 'Sesos@aol.com'; 'Smith,
> >Derek'; 'Sogge, Eric'; 'St. Cin, Steve'; 'Sonsini, Pete'; 'Tovi,
> >Abello'; 'Tracy_Brown'; Trong Le; 'Trong Le'; 'Weisman, Will'; 'Weisman
> >work'
> >Cc: 'leezim@stanfordalumni.org'
> >Subject: FW: COED SOFTBALL IS BACK!
> >
> >
> >Hey Everyone,
> >
> >My two roommates are starting up a softball league.  The games will be at
> >Fort Scott (right by GG Bridge on SF side).  It should be a lot of fun.
> >  Details are below.  Please pass this on to anyone you know who might be
> >interested.
> >
> >Sean
> >
> >-----Original Message-----
> >From: Lee Zimmerman [SMTP:leezim@stanfordalumni.org]
> >Sent: Tuesday, March 27, 2001 5:58 PM
> >To: leezim@stanfordalumni.org
> >Subject: COED SOFTBALL IS BACK!
> >
> >Hi everyone,
> >
> >We are excited to announce that we are officially re-starting coed
>softball
> >at the Presidio Fort Scott Fields!  We have enjoyed
> >playing in the Fort Scott leagues for the past 4 years and are psyched to
> >get everyone back in action.
> >
> >We will have both spring and summer leagues.  In spring, leagues will be
> >played on Sunday nights (weeknights are booked with
> >school and rugby/lacrosse leagues).  In summer, leagues will be played on
> >weeknights (Monday through Thursday).  Priority for
> >summer leagues will be given to teams who play in the spring.
> >
> >We plan to start the spring leagues on April 15 so we need to move fast
>to
> >get teams signed up.
> >
> >Here are the details for this spring:
> >
> >- Games are Sunday nights from 6 -10 pm starting on April 15 and ending
>on
> >June 24 (with no games on May 6 or June 3)
> >- Each team will have 1 one-hour game per night
> >- Season includes 7 weeks of regular season games, plus single
>elimination
> >playoffs (meaning 1-3 more games)
> >- 10 people play in the field at a time (typically 6 men, 4 women)
> >- There will be two league levels - "recreational" and "competitive"
> >- Each league will have 8 teams (16 teams total)
> >- Cost is $550 per team (covers cost of fields, umps, insurance,
>equipment,
> >t-shirts, etc.)
> >
> >Please note we are accepting teams on a first-come, first-served basis,
>so
> >you should sign your team up ASAP.
> >
> >To secure a spot for your team, we ask you to do the following:
> >
> >(1) E-mail or call us expressing your interest (including league level
> >preference - recreational or competitive)
> >(2) Send us your payment via check
> >     - Make payments to Sandstorm Ventures, 10 UN Plaza,  Suite 630, San
> >Francisco, CA  94102
> >     - Please include your contact information with your payment
> >
> >After we receive your payment, we will call and confirm that you are in,
> >provide additional league details, get team name and
> >member info, etc...
> >
> >While we intend to keep things simple and un-bureaucratic, we will run
> >these leagues professionally, using experienced umps,
> >maximizing actual time of play, and making sure that everyone has a great
> >time.
> >
> >ALSO, WE ASK FOR YOUR HELP IN FORWARDING THIS E-MAIL TO OTHERS WHO MIGHT
>BE
> >INTERESTED IN PLAYING (including anyone who played in
> >the past) -- please copy us as well so we can get these folks on our
> >contact list.
> >
> >Feel free to call or e-mail us with any questions.
> >
> >We hope you are as excited as we are!
> >
> >Sincerely,
> >
> >Lee Zimmerman (415 902 7194) and Brian Anderluh (415 609 4973)
> >
> >
>
>_________________________________________________________________
>Get your FREE download of MSN Explorer at http://explorer.msn.com

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


(See attached file: hpl0711.xls)

 - hpl0711.xls


Thanks Mark--we'll take a look at this information and be ready to discuss
with you guys.  I'll take the lead on getting a new meeting set up.  DF

Mark Knippa@ECT
02/05/2001 05:28 PM
To: Drew Fossum/ET&S/Enron@ENRON
cc: Susan Scott/ET&S/Enron@ENRON, Gerald Nemec/HOU/ECT@ECT, James
Centilli/ET&S/Enron@ENRON, Kevin Hyatt/ET&S/Enron@Enron

Subject: Gallup Station - Demand Rebate

Hey Drew,

Sorry that we did not get to meet last week when you were in town.  I have
pulled up some information on the project performance and wanted to share
with the group.  I was very concerned by the comment that the project was on
a rate to cost TW an additional $1.0 million for the year because the demand
avoidance program was not in place.  I do want to confirm that Arnold
Eisenstein at ET&S working on the development of the programming to support
TW's efforts to minimize demand expenses.  It was my understanding during the
development of this project, that TW was targeting a 75% avoidance for an
annual basis.   I offer the following details regarding the actual operation
of the station in 2000.

Peak load for 12,000 hp = 9,621 kw x 3 = 28,864.0 kw per Quarter

Actual Utilization
   3rd Quarter 2000      % of Max  4th Quarter 2000  % of Max
 kw - generation   22,684.8      78.6   17,779       61.6
 kw - transmission 25,421.0      88.1   22,992       79.6

 Target $'s @ 75% 99,142      75.0            73,480      75.0
 Net Actual Rebate  $'s 75,935        78.6                105,181        61.59
  difference            ($23,206)                  $31,702

Overall net for 2000 under Rate 21 appears to reflect that TW has saved
$8,496 above their target rebate of $170,622 (75% avoidance) for the 3rd and
4th quarters.  In addition, ECS has made payment to TW under Rate 19 that
resulted in an additional $118,441 paid to TW.   Note that ECS has proposed
to included the transmission demand in the Rebate process which is not
specifically addressed the Compression Service Agreement.

Currently TW has access to the web site that graphically displays the current
Tri-State generation load as well as several years of month by month
history.  This access was conveyed to TW as soon as the confidentiality
agreement between TW, ECS and Tri-State was executed and delivered to ECS.
At this point, EE&CC (now under ET&S) was notified that the system access was
available to package the load monitoring programming.  As I mentioned above,
that effort is underway.

I will be glad to meet and/or discuss these issues when you are available.  I
will be travelling most of the next (2) weeks but you can reach me via email
or my
cell phone (713) 851-7703.   Based on the information that I was able to pull
together, I just don't see the magnitude of dollars that seems to have TW
concerned.
I would like to discuss at your earliest convenience.

Thanks,
mk


On October 29, 2001, the NEPOOL Participants Committee submitted a filing
requesting the approval of proposed changes to Section 5.3.2(d) of Market Rule
& Procedure 5 that amend the formula used to calculate whether a Generator is
operating at its Desired Dispatch Point.

Please contact me if you need further information on this filing.

Susan Lindberg
713.853.0596


How did this happen?
----- Forwarded by Steven J Kean/NA/Enron on 10/16/2000 09:14 PM -----

	Ann M Schmidt
	10/16/2000 04:24 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, Mary Clark/Corp/Enron@ENRON, Laura
Schwartz/Corp/Enron@Enron
		 cc:
		 Subject: Enron Brazil To Invest $455 Million In Gas Distribution '01-'04

Enron Brazil To Invest $455 Million In Gas Distribution '01-'04

10/16/2000
Dow Jones International News
(Copyright (c) 2000, Dow Jones & Company, Inc.)

RIO DE JANEIRO -(Dow Jones)- Enron Corp. (ENE) said Monday it will invest
$455 million in its gas distribution business in Brazil from 2001 to 2004.
Robert Gross, vice president of Enron's Brazilian unit, also said the company
plans to spend $970 million on thermoelectric projects, but he didn't specify
any timetables for the projects.
Gross said Enron will spend $142 million on gas distribution projects next
year in Brazil.
Currently, Brazil's energy regulator Aneel is in the process of licensing
companies to build and operate a total of 44 new thermoelectric plants.
U.S.-based Enron primarily operates in Brazil as a gas and energy
distributor.
-By Adriana Brasileiro, Dow Jones Newswires; 5521-580-9394;
adriana.brasileiro@dowjones.com

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.


This is a reminder of your ongoing obligation to report to the Securities
and Exchange Commission ("SEC") transactions in Lilly stock.  In light of
the complexity of the reporting rules and the potential for severe
penalties for noncompliance, please contact me in advance of any
transaction.  As a reminder, the SEC rules cover all transactions,
including:

-   purchases
-   sales
-   gifts
-   trust or partnership transactions
-   transactions in the Dividend Reinvestment Plan
-   exchange fund transactions

We request advance notification of Lilly stock transactions for two
reasons:

   There are certain times when you should not engage in market
   transactions in Lilly stock.  Routinely, these "black-outs" occur around
   the end of each quarter through the time quarterly/annual earnings are
   announced.  In addition, occasionally, we are aware of "inside
   information" that may be considered material and we therefore advise our
   reporting persons to avoid open market transactions in Lilly stock.
   While you may not know of the event, the knowledge may be imputed to
   you.  Advance communication allows you to avoid situations that may have
   legal consequences, or if not, at least may cause embarassment.

2.   We prepare for you the required reports of the transaction to the SEC.

If you had any Lilly stock transactions in October, please advise me as
soon as possible.  We will prepare the required reports for your signature
and file them with the SEC and the New York Stock Exchange ("NYSE").  The
reports must be received by the SEC and the NYSE no later than the 10th day
of the month following the month in which the transaction occurs.  If I am
not available, please contact Jim Lootens (317-276-5835) regarding any
proposed transaction.

If you have any questions regarding these matters, please do not hesitate
to call me.  Thank you for your cooperation.

Alecia A. DeCoudreaux


Gwyn,

There are several Kaminskis at Enron right now.

Vince

 -----Original Message-----
From: 	Kaminski, Amanda
Sent:	Thursday, June 28, 2001 10:59 PM
To:	Kaminski, Vince J
Subject:	FW: Brazil Real and IGPM forecast, dated 6/26/01

Vince,

This e-mail was sent to me by mistake.  I just wanted to make sure that you got the information that you needed.  Have a good evening.

Amanda Kaminski

 -----Original Message-----
From: 	Koepke, Gwyn
Sent:	Thursday, June 28, 2001 4:53 PM
To:	Hudler, Cindy; Sassatani, Ricardo; Shahi, Pushkar; Stuart III, William; Raymond, Maureen; Kaminski, Amanda; Kaminski, Vince J
Subject:	Brazil Real and IGPM forecast, dated 6/26/01

Cindy and Ricardo,

Please find attached the updated forecast for the Brazilian Real and for the general price index, IGPM.

Gwyn Koepke and
Maureen Raymond-Castaneda


Sara:

Just to clarify:

EI can't enter into the swap with TBS per Ted Murphy
Don Black needs to discuss the inflation position and crude position with the
appropriate people before we can execute a Master ISDA between TBS and ECT.
Ted is not sure that the appropriate people in ECT have seen this deal.  Don
Black will need to show this deal to ECT since ECT is entering into the swap.

I have left a message for Don Black to call concerning these issues and am
waiting for him to return my call.

Regards,

Pat

Sara Shackleton
06/11/99 08:57 AM
To: Patricia Cini/HOU/ECT@ECT
cc:
Subject: TBS swap

Since the Master is drafted for ECT/TBS, what does your message mean in terms
of moving the ISDA, guaranty and side letter along?  As I mentioned to Ted,
what EI or an EI project company does outside of the ECT swap is not
something that I can track.  Thanks.  SS


Stephanie,

Thanks for remembering about me.
Yes, I want to renew.

Vince

From: Stephanie E Taylor on 11/29/2000 01:18 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Subscription Renewal

Dear Vince,

This is to inform you that your subscription to Risk is up for renewal.  The
regular subscription cost through December, 2001, is $599.00.  The cost after
the corporate discount is $509.15.

Please let me know if you would like to renew this publication.  We will be
happy to take care of this for you.  If you have any questions, please do not
hesitate to call me.

Sincerely,
Stephanie E. Taylor


Dave and Andre: Attached is a final version of the CEG/CEG-Rio DASH for
circulation and approval.  The Purchase and Sale Agreement is anticipated to
be signed on Sunday morning, April 29th.  Given the short time period and in
order to expedite, please circulate a separate copy to each approving party.

Mark:  Since you have asked me to sign the DASH, I wanted to make sure you
had a copy for review in connection with your legal risk memo.  As you will
see, the DASH goes into a little more detail than the bullet-point format of
the legal risk memo would allow.

Thank you,
Randy

Randel R Young
Vice President & Assistant General Counsel
Enron Wholesale Services
1400 Smith Street, #3870A
Houston, TX 77002
-OR-
PO Box 1198
Houston, TX 77251-1188

Phone:  713-345-2460
Assistant: 713-345-2459
Fax: 713-646-6058
Cell: 281-541-3885
E-mail:  randy.young@enron.com

******************************************************************************
This message may contain confidential and/or privileged information and is
only intended for the persons and entities to which it is addressed.  If any
party receiving this message is not the intended recipient or an authorized
representative thereof, the receiving party is hereby notified that the
review, dissemination or copying of this message, any attachment thereto, or
information contained therein, is prohibited.  If this message is received in
error, please notify the sender immediately by return email and delete this
email and all attachments from your system.
******************************************************************************


Teresa:

I'll be helping you on the swap piece.  Let me know what you need.  Thanks.
Sara


David:
Plrease send me a hard copy of this.  I had trouble printing it out.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com

	David P Dupre
	07/10/2000 10:59 AM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc:
		 Subject: CP exposures as of 7/7/00

This is one report of many to select from 'credit aggregation'.
Let's talk about this when you have an opportunity.

Thanks
David 3-3528
---------------------- Forwarded by David P Dupre/HOU/ECT on 07/10/2000 10:55
AM ---------------------------
To: Carol St Clair/HOU/ECT@ECT, David P Dupre/HOU/ECT@ECT
cc:
Subject: CP exposures as of 7/7/00


---------------------- Forwarded by V Charles Weldon/HOU/ECT on 01/30/2001
10:18 AM ---------------------------

	Enron North America Corp.

	From:  Corporate Payroll @ ENRON                           01/29/2001 10:45 PM

Sent by: Enron Announcements@ENRON
To: All Eligible Enron Employees United States
cc:
Subject: New Employee Service ) Turbo Tax

As tax season rapidly approaches, we are pleased to announce a new W-2
employee service.  If you plan to file your personal income taxes through
TurboTax 2000 (Intuit's personal tax filing software) you will be able to
automatically download your W-2 information into the appropriate TurboTax
forms directly over the Internet for free.

Enron has chosen to provide this service to help speed the processing time
and accuracy of your return while supporting paperless processing.

More information regarding this service is listed below or visit
www.probusinesstaxes.com to find out more about the TurboTax software and
Web-based filing service.

Employee Fact Sheet: ProBusiness/Intuit W-2 service

Q.  What is the Automated Tax Return (ATR) service?
A. Intuit Inc., makers of the popular Quicken TurboTax tax preparation and
filing software, have launched a new Automated Tax Return (ATR) service to
simplify tax preparation for TurboTax users. ATR allows users of TurboTax tax
preparation and filing software to import tax information from multiple
sources such as employers, brokerage houses, and mutual fund companies
directly into the correct TurboTax forms over the Internet.  Since our
payroll tax provider, ProBusiness, has partnered with Intuit to provide this
service, you will be able to electronically download your individual W-2 data
from ProBusiness directly into TurboTax through the Internet for free. Also,
as part of this program, you can receive a  5% discount on all TurboTax and
Quicken products including shipping and handling (go to
www.probusinesstaxes.com for more information).

Q. So how does it work?
A. Embedded in each version of TurboTax 2000 (both the software and web
application) is a series of screens that will ask whether your employer
allows you to automatically download your data into TurboTax.  To use the
free service, simply answer "yes" then select our payroll tax provider,
ProBusiness, from a drop-down list of providers which includes ProBusiness,
PeopleSoft, Ceridian, and seemyw2.com.  Validate your request by entering
your social security number and W-2 box one data and your W-2 data will
automatically transfer via the Internet into the appropriate locations in the
TurboTax form.

Q. Is this a secure transaction?
A.  Intuit,s TurboTax ATR service combines Open Financial Exchange (OFX), the
standard technology used in e-finance, with 128-bit military-grade encryption
to create an advanced security protocol that ensures the highest level of
security and confidentiality when obtaining financial data to populate your
TurboTax form over the Internet.

Q. How do I participate in this program?
A.  Only employees using Intuit,s TurboTax 2000 tax preparation and filing
software can take advantage of this Web-based ATR service.  TurboTax software
and the ATR Web-based filing service can be accessed at
www.probusinesstaxes.com.

Q. What if I already own TurboTax 2000(does this still work?
A. Yes, all copies of TurboTax 2000 contain the Automated Tax Return service
option.

Q. Overall what are the Benefits to me?
A.  Using the ATR service provided by Intuit and ProBusiness, you can:
? Increase your probability of accurate filing.
? Eliminate the need to manually enter your W-2 information and other
financial data.
? Increase the overall speed of tax filing.


Attached is a list of Notaries in ENA Legal.

Janette Elbertson
Enron North America Corp.
Legal Department - EB3326
Telephone:  (713) 853-7906
Fax:  (713) 646-2600
janette.elbertson@enron.com


----- Forwarded by Sue Nord/NA/Enron on 11/03/2000 08:25 AM -----

	Chris Lamb <chrisl@technologylaw.com>
	11/02/2000 01:38 PM
	Please respond to chrisl

		 To: snord@enron.com, snord@enron.net
		 cc:
		 Subject: Advanced Services ISP Order

Sue:

Per our phone conference with Steve Bowen last Friday, the 27th, please
find attached the Advanced Services FCC Order you requested.  This
established ISP traffic as interstate in nature and under the FCC's
jurisdiction.  The Order is at 13 FCC Rcd. 22, 466, In the Matter of GTE
Telephone Operating Cos, CC Docket No. 98-79, FCC 98-292, released
October 30, 1998.

This is probably more germane to current EBS issues than the Collo Order
sent Oct. 29, 2000 to you, and together should provide you with a sense
of current Federal issues.  Please let me know if you need additional
assistance.

We are also preparing the MSA language regarding the 10% interstate
traffic Rule and will send it this week.

Jeremy Meier
Blumenfeld & Cohen
 - FCC 98-97 MO&O


FYI
---------------------- Forwarded by Janet R Dietrich/HOU/EES on 03/26/2001 10:18 AM ---------------------------

Don Black
03/26/2001 09:52 AM
To:	Kevin M Presto/HOU/ECT@ECT
cc:	 (bcc: Janet R Dietrich/HOU/EES)
Subject:	EOL 3/26/01

What is the going forward plan to better populate these less liquid markets?  Do you have interest in seeing this report on a regular basis?
---------------------- Forwarded by Don Black/HOU/EES on 03/26/2001 09:41 AM ---------------------------

Erika Breen
03/26/2001 09:37 AM
To:	Don Black/HOU/EES@EES
cc:	Charles Decker/HOU/EES@EES
Subject:	EOL 3/26/01

These products are not online today:

		Peak		Offpeak
CIN				02-10
Comed				02-10
ERCOT		02-10		02-10
NYA		02-10		02-10
NYG		02-10		02-10
NYJ		02-03		02-03
Nepool		03-10		02-10
PJM		08-10		03-10


______________________________________________________________
 T   I   C   K   E   T   M   A   S   T   E   R   .   C   O   M
______________________________________________________________
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______________________________________________________________
Hello, Errol:

Thanks for purchasing your tickets with ticketmaster.com.
We have received your order for 2 tickets to:

QUEENS OF COMEDY
HOUSTON ARENA THEATRE
Saturday, Apr 28 2001  7:00PM

Seat Location (SECTION 7, ROW    Q, SEATS    1 TO    2)
Total Charge  $97.27

Your confirmation number for this purchase is 3-43664/DAL.
You might want to print or save this email for future reference.

To check the status of your order, please go to:
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This email confirms the above ticket information. We make every effort to
be accurate. However, we cannot be responsible for changes, cancellations
or postponements announced after this email goes out. You will receive an
email from us when your tickets are printed and about to be shipped.


---------------------- Forwarded by Peter F Keavey/HOU/ECT on 06/22/2000
04:10 PM ---------------------------

Tom Keavey <Thomas.Keavey@vistacomp.com> on 06/16/2000 04:44:04 PM
To: "'mark keavey'" <mkeavey@lutzandcarr.com>, "'niall.keavey'"
<niall.keavey@emea.gateway.com>, Peter F Keavey/HOU/ECT@ECT, "'Cathleen
Keavey'" <c.keavey@mindspring.com>, "'John Keavey'" <jkeavey@epresence.com>,
"'Jane K'" <roaming_jane@hotmail.com>, "'Rafe'" <raef12@hotmail.com>,
"'Russell Gon'" <russell.gon@wiley.com>, "'Edwards'" <Cme@eamc.com>, "'Bill
Russell'" <ny344@aol.com>, "'Faughnan, M'" <Mary.Faughnan@HARPERCOLLINS.com>,
"'FOD'" <fodonnell@kingworld.com>, "'Mer Dixon'" <meredith_dixon@s5a.com>
cc:
Subject:

This is a true work of art:

www.welcome.to/mytrailerparkpage <http://www.welcome.to/mytrailerparkpage>