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 Player Updates?NFL Reports?
 Latest NFL Player News

 Corey Bradford , WR GB - Free Agent Updated 11/30/00
 After missing most of the season because of a broken leg, Bradford is now
recovering from torn cartilage in his right knee.  He still hopes to return
for a December 10 game against the Lions.  Right now he is having trouble
pushing off on his knee.  Stay away from Bradford in your Fantasy league
until next season.

 Elvis Grbac , QB KC - Eric Bass Updated 11/30/00
 Grbac returned to practice on Wednesday and will likely return for Monday
night's game against New England.  Although he is still listed as
questionable on the injury report, Head Coach Gunther Cunningham is
optimistic. "Right now, I'd say he'll play," said Cunningham, "but we'll see
what (today) brings." Since Grbac isn't a definite starter this week, it
would be wise to use another quarterback if your roster allows it -
especially with the Fantasy playoffs beginning.

 Lamar Smith , RB MIA - Fear Updated 11/30/00
 Smith's injured right hamstring has made significant progress since he
missed last week's game against the Colts, and the Dolphins are cautiously
optimistic that he  could return for this week's game against Buffalo.
Despite experiencing a slight "tweak" in the hamstring after Wednesday's
practice, Smith still believes he will be ready to go. "I feel fine," Smith
said, "I have no pain in my leg. I'm running and cutting without any pain."
Those Fantasy owners with a deep running back rotation, however,  would be
wise to steer clear of Smith this week. Playing in the cold at Buffalo could
hinder Smith's performance, which is a chance you won't want to take at this
point of the season.

 Jay Fiedler , QB MIA - McKay Neal Updated 11/30/00
 Contrary to earlier reports, the Dolphins are now "optimistic" that Fiedler
will be their starting quarterback for this week's game against Buffalo. He
took 75 percent of the snaps with the first team during Wednesday's practice
and reported that he felt fine. It would be a remarkable recovery for
Fielder, who couldn't even raise his right arm on Sunday. "If he's OK
(today), he's starting," said Head Coach Dave Wannstedt. Even if he does
start, Fielder isn't a very strong option for Fantasy owners who have
advanced to their league's playoffs.

 Curtis Enis , RB CHI - FIBSABs Updated 11/30/00
 Enis has vowed to be lighter and mightier next season.  Where have we heard
this before? During the offseason Enis bulked up to 250 pounds and promised
to run over the opposition.  He looked slow carrying the ball this season and
was replaced at HB by James Allen.  With HB Marlon Barnes and Allen in tow,
Enis may have to take his leaner physique elsewhere.  He is down to 242
pounds already and would like to reach 235.  Even if he does reach this goal
don't count on him being too productive.  Wait and see if he re-emerges as a
star before you gamble and put him on your Fantasy team next year.

 Cade McNown , QB CHI - Top Dogs Updated 11/30/00
 McNown is listed as questionable but will be the emergency QB for sunday's
game against the Bears, behind Shane Matthews and backup Mark Hartsell.  It
appears that McNown is done for the Fantasy season.  His seperated shoulder
rendered him helpless for the latter part of 2000,  but even when he was
healthy he didn't produce too much.

 Shaun King , QB TB - Tori Kuykendall Updated 11/30/00
 King practiced Wednesday and will start Sunday against Dallas.  He sat out a
workout Monday because of a lower back strain, but said he felt fine after
taking most of the snaps as the Bucs began preparations for the Cowboys.
King hasn't been too productive in recent weeks and don't expect that to
change against Dallas this week.  The Cowboys have only allowed 185.5
passing yards per game this season.  But King is still one of the better QBs
in the league.  He may not have a stellar game this Sunday but will be good
enough to help your Fantasy team in the playoffs.

 Wane McGarity , WR DAL - Free Agent Updated 11/30/00
 McGarity injured his left ankle in practice on Wednesday, leaving him
questionable for Sunday's game at Tampa Bay.  The Cowboys, who have been
devastated by injuries all season long, can ill-afford to lose McGarity, who
has become one of their more consistent receivers in recent weeks. Fantasy
owners should avoid starting any of Dallas' receivers other than James
McKnight for the duration of the season.

 Chris Greisen , QB ARI - Free Agent Updated 11/30/00
 With the shoulder injury to backup Dave Brown, Greisen will likely be
Arizona's number two quarterback this week against the Bengals. He has only
thrown nine passes in three career appearances, but could see some playing
time this week if starter Jake Plummer re-aggravates the rib injury that kept
him out of last week's game against the Giants. Fantasy owners should avoid
Arizona quarterbacks this week at all costs, especially with the playoffs
beginning for most leagues.

 Ricky Williams , RB NO - Free Agent Updated 11/30/00
 Williams could be back in time for the final regular season game on December
24.  "There's a chance he can come back," coach Jim Haslett said. "We're kind
of shooting for the last game, but hopefully the playoffs."  Most Fantasy
leagues will be over by Week 17.  But if your team is still playing having
Williams will definitely help.

 Terrell Owens , WR SF - Martin Cuilla Updated 11/30/00
 Owens will play this week against the Chargers but at this point he is not
healthy enough to take a gamble on.  "I'll definitely play this week," said
Owens.  "It's all a matter of how much pain I can tolerate."   Owens' toe is
purple and swollen, and he can't run at top speed.  Don't expect him to put
up good numbers this week.  Use another receiver instead of Owens if
possible.

 Joe Jurevicius , WR NYG - Free Agent Updated 11/29/00
 Jurevicius did a good job replacing Ike Hilliard last week, catching six
passes for 70 yards in New York's 31-7 win. He will start in place of his
injured teammate once again, but don't expect the same type of numbers
against the Redskins. It would be wise to use other receivers on your roster
this week if possible, especially considering that Jurevicius will probably
find himself lined up across from Deion Sanders for most of the day.

 Amani Toomer , WR NYG - McKay Neal Updated 11/29/00
 Toomer accounted for 89 yards of total offense and a touchdown in last
Sunday night's 31-7 win over Arizona. He will face off against a talented
Redskins' secondary this week that held him to only three catches and 31
yards in the team's first meeting. If your other wideouts have more favorable
matchups this week, it might be wise to bench Toomer.

 Ike Hilliard , WR NYG - Tori Kuykendall Updated 11/29/00
 Hilliard will miss his second straight game this week against Washington.
He is still suffering from a punishing hit from Lions' safety Kurt Shultz two
weeks ago that resulted in a bruised sternum.  Joe Jurevicius will replace
Hilliard once again.

 Tiki Barber , RB NYG - The Klap Updated 11/29/00
 Barber is having a surprisingly solid Fantasy season.  He accounted for 82
yards from scrimmage and a touchdown in last week's win over the Cardinals.
The Giants will no doubt continue to use Barber as one of their main
offensive threats, so he will always have a chance at being productive.
Unless you have a stacked backfield, you could do a lot worse than putting
Barber in your starting lineup.

 Ron Dayne , RB NYG - Martin Cuilla Updated 11/29/00
 Dayne ran the ball 24 times for 85 yards and a touchdown in last Sunday's
win over Arizona.  Don't expect those types of numbers this week, however, as
the G-Men face off against a Washington squad that will be hungry for a win.
In Week Four, the 'Skins held Dayne to only 23 yards rushing, and this week
shouldn't be much different. Keep Dayne on your bench if your roster allows
it.

 Kerry Collins , QB NYG - Matt Lenhart Updated 11/29/00
 Collins completed 20-of-30 passes for 232 yards and one touchdown in last
week's win over Arizona.  He has been playing well in recent weeks, throwing
eleven touchdown passes in his last five games. He will face off against a
tougher opponent this week, namely the Washington Redskins and their fifth
ranked pass defense. Collins was unimpressive in the team's first meeting, so
you may want to consider benching him this week if your roster allows it.

 Mike Vanderjagt , K IND - Top Dogs Updated 11/29/00
 Vanderjagt missed his only field goal attempt against the Dolphins, a
59-yarder at the end of regulation that would have sent the game into
overtime. The miss was his first since Week Two against Oakland. Vanderjagt
remains one of Fantasy's best kickers, so continue to start him as you enter
your league's playoffs.

 Marvin Harrison , WR IND - Eric Bass Updated 11/29/00
 Harrison only caught four passes last week against Miami - lucky for Fantasy
owners that two of them were for touchdowns.  He will go up against a Jets'
secondary this week that held him to only four catches and 34 yards in Week
Ten. It's now time for the playoffs, however, so Harrison should be in your
lineup every week until your season ends, one way or another.

 Edgerrin James , RB IND - Martin Cuilla Updated 11/29/00
 "The Edge" just keeps on producing, rushing for 118 yards and catching five
passes for 37 yards in last week's loss to Miami. He faces the Jets this
week, a team he lit up for 131 yards rushing and a touchdown in Week Ten.
Indianapolis needs this game to stay in the playoff hunt, and James, as
always, will be the Colts' main man on offense.

 Peyton Manning , QB IND - Tori Kuykendall Updated 11/29/00
 Manning completed 16-of-34 passes for 209 yards and two touchdowns in last
Sunday's loss to Miami. He will face the Jets this week in New York, which
may not be a good sign for Fantasy owners. The Colts haven't faired well in
the cold this season, losing on the road to both Chicago and Green Bay. Start
Manning this week as always, and hope that he can break away from his team's
cold weather misfortunes.

 Chris Chandler , QB ATL - Hunter Shively Updated 11/29/00
 Chandler will be replaced at QB by rookie Doug Johnson for the final three
games.  The team stated that this move is aimed at allowing Chris Chandler
some time to heal his wounds.  It will also give them a chance to evaluate
Johnson.  Considering Atlanta's passing performances it would be wise to
avoid picking up Johnson, especially as your team enters the postseason.
Keep an eye on him though.  If he plays well he may be worth drafting next
year.

 Carl Pickens , WR TEN - The Klap Updated 11/29/00
 Pickens tested his hamstring before Sunday's game against Jacksonville, but
the team decided not to let him play just before gametime. He is close to
being ready for a return, but likely needs to get more involved in practice
first. "Carl practiced last week, but we felt and he felt if he had gone out
and pushed it a little bit he had that risk factor of reinjuring it," said
Coach Jeff Fisher. "I would assume he'd be close to play [Sunday against
Philadelphia]." Don't expect solid Fantasy numbers out of him, however, as he
hasn't had a reception since October 1.

 Troy Edwards , WR PIT - FIBSABs Updated 11/29/00
 Edwards impressed Coach Bill Cowher with a 27-yard reception against
Cincinnati last Sunday, but he hasn't yet put himself back in the Steelers'
receiving picture. As long as Hines Ward continues to play well at flanker,
don't expect anything from Edwards over the season's final weeks. Check back
with him next season.

 Doug Johnson , QB ATL - Free Agent Updated 11/29/00
 Johnson will start the team's final three games of the season in place of
the battered Chris Chandler.  Don't expect Johnson to do too much better.  He
should have a good game against the Seahawks this week, but overall the
Falcons receivers don't get open enough.

 Jerome Bettis , RB PIT - Fear Updated 11/29/00
 The Steelers have listed Bettis as questionable with a calf injury on their
injury report for Sunday's game against Oakland. He has routinely been listed
as probable for games this season, yet has played every game. More surprising
is that Bettis has performed well in recent weeks despite the absence of
center Dermontti Dawson. Dawson has missed three games with a hamstring
injury, and is listed as questionable this week, but don't allow his absence
to affect your decision on whether to start Bettis.

 Courtney Hawkins , WR PIT - Free Agent Updated 11/29/00
 Hawkins will be listed as questionable on the Steelers' injury report for
Sunday's game against Oakland. He is expected to play, though, as he was also
listed as questionable last Sunday but made the start anyway. If he can't go,
then Plaxico Burress, the man Hawkins replaced in the lineup, would probably
get the call.

 Chris Fuamatu-Ma'afala , RB PIT - Free Agent Updated 11/29/00
 Fuamatu-Ma'afala will miss his sixth straight game on Sunday against Oakland
with a broken foot. He is expected to run this week for the first time since
he suffered the injury, so he should be able to return by the following week.
Don't expect anything out of Fuamatu-Ma'afala over the final weeks, though,
as Jerome Bettis has a firm grip on the starting job.

 Aaron Stecker , RB TB - Free Agent Updated 11/29/00
 Stecker is still recovering from a bruised knee and is not expected to play
against the Cowboys Sunday.  He rarely fields kicks anymore and is used
primarily as a blocker on the return team.

 Az-Zahir Hakim , WR STL - FIBSABs Updated 11/29/00
 Hakim injured his wrist in last Sunday's game against the Saints and is
questionable for this week's matchup against the Panthers.  If he is unable
to play, look for Ricky Proehl to receive extended action as the third
receiver.  Given Proehl's performance last week in which he caught a TD he
might be worth picking up to replace Hakim if you play in a Fantasy league
that allows more than two receivers.

More Updates

 Player News?Teams?
 Eric Bass Player News

 Lions , Active DT Updated 11/29/00
The Lions' defense will have to pick their poison Thursday when they face the
Vikings. Will they double-team Randy Moss or Cris Carter? Or both? What will
they do about QB Daunte Culpepper and RB Robert Smith? It may not matter too
much if they double-team Moss. He has been known to make catches in double
coverage but Carter is a different story. They focused their energies on
stopping Carter in the first game and held him to three catches for 30 yards,
but Moss had 168 receiving yards and three TDs. Thursday's game could be a
long one for the Lions' defense. If you have them hope that they can find a
way to contain Minnesota and score some points for your Fantasy team.

 Elvis Grbac , Active QB Updated 11/30/00
Grbac returned to practice on Wednesday and will likely return for Monday
night's game against New England. Although he is still listed as questionable
on the injury report, Head Coach Gunther Cunningham is optimistic. "Right
now, I'd say he'll play," said Cunningham, "but we'll see what (today)
brings." Since Grbac isn't a definite starter this week, it would be wise to
use another quarterback if your roster allows it - especially with the
Fantasy playoffs beginning.

 Terrell Davis , Reserve RB Updated 11/29/00
An MRI performed on Davis' leg Tuesday showed a "stress reaction on the
mid-lower leg," which is a precursor of a stress fracture. He will have his
leg placed in a boot for about three weeks to prevent a stress fracture,
meaning he will essentially miss the remainder of the regular season. If you
have Davis on your Fantasy team and you're not in a keeper league, it's not
worth holding onto him at this point.

 Kimble Anders , Reserve RB Updated 11/29/00
The Kansas City Star says the Chiefs intend to stick with veterans down the
stretch. That means Anders will continue to start at halfback over Mike
Cloud. Frank Moreau, however, might see tiem at fullback in place of Donnell
Bennett and Warren Moon will continue to be the No. 2 QB over Todd Collins.

 Robert Smith , Active RB Updated 11/27/00
Smith carried 21 times for 148 yards and a touchdown in Thursday's game
against the Cowboys. With Marshall Faulk recovering from injury and Edgerrin
James struggling, Smith is without a doubt the best Fantasy RB right now.
Look for him to have another solid outing against the shaky Lions' run
defense this Thursday.

 Marvin Harrison , Active WR Updated 11/29/00
Harrison only caught four passes last week against Miami - lucky for Fantasy
owners that two of them were for touchdowns. He will go up against a Jets'
secondary this week that held him to only four catches and 34 yards in Week
Ten. It's now time for the playoffs, however, so Harrison should be in your
lineup every week until your season ends, one way or another.

 Donald Hayes , Active WR Updated 11/28/00
Hayes was deactivated for Monday's game against Green Bay with a groin
injury. Isaac Byrd, his replacement, had no catches in the game. As long as
Hayes remains out, Muhsin Muhammad should be expected to be the focus of the
Panthers' passing game, much like he was Monday night.

 Donovan McNabb , Reserve QB Updated 11/27/00
McNabb was McNasty against Washington, accounting for 262 yards of total
offense and two touchdowns in the Eagles' 23-20 win at FedEx Field. He put
the offensive unit on his shoulders and single-handedly kept Philadelphia in
first place in the NFC East. Up next, McNabb will face a tough Tennessee
squad who will no doubt be fired up after losing to the Jaguars. Don't expect
huge numbers from McNabb this week, but do expect him to be the focal point
of Philadelphia's offense once again.

 Joe Nedney , Active K Updated 11/09/00
Nedney has made 16-of-17 field goals this season but told the Charlotte
Observer that he will play elsewhere next season rather than try to compete
with incumbent kicker John Kasay next year. Nedney will be an unrestricted
free agent in March and has been filling in for Kasay who tore the ACL in his
kicking leg during the preseason. "It's not that I'm not enjoying my time
here," said Nedney. "It's a great scenario to be doing this well, but I was
brought in as somebody's replacement - and when that person gets better,
he'll be the guy."

 Joe Horn , Active WR Updated 11/27/00
Horn was productive once again Sunday catching seven passes for 77 yards. He
is still the primary receiver but his numbers could suffer in upcoming weeks.
New starter Aaron Brooks spreads the ball around and scrambles more than Jeff
Blake.

 Marcus Robinson , Reserve WR Updated 11/29/00
Not having QB Cade McNown throw to him has really hurt Robinson's numbers.
While playing with McNown in his first six games this season, Robinson had 32
receptions for 506 yards (15.8 average) and four touchdowns. In his last five
contests, Robinson has just 23 catches for 232 yards (10.1 yards), with one
touchdown. Except for one quarter against the Eagles, Jim Miller and Shane
Matthews were the quarterbacks in those ballgames. McNown is still another
week or so away from playing so look for Robinson to continue to struggle.

 James Allen , Active RB Updated 11/29/00
Despite his three fumbles on Sunday, Allen remains in the Bears plans for
2001, and why wouldn't he. He is the Bears' starting halfback and leading
rusher, gaining 840 yards this season. Allen will be a restricted free agent
after this season but Personnel VP Mark Hatley has stated that he would like
to bring him back next season. If Allen remains confident he will be a good
Fantasy backup next season. Look for him to have a big game this week against
a Packers defense that allowed Carolina rookie RB Brad Hoover to run all over
them Monday.

 Sylvester Morris , Reserve WR Updated 11/17/00
Morris is starting to fade after some first-half heroics. He has been very
inconsistent and don't be hesitant to bench him at this important point of
the season.

 Ravens , Reserve DT Updated 11/27/00
Although Cleveland scored a touchdown on its opening drive Sunday, becoming
the first team to achieve the feat this season, the Ravens' defense posted
yet another dominating performance. Foiled in its quest to post its
record-tying fifth shutout of the season, Baltimore held the Browns to just
seven points and a staggering 112 net yards. The Ravens also had six sacks,
an interception and two fumble recoveries in the game. It's probably safe to
say that owners of this defense are already playoff-bound. Although Baltimore
has its bye week next, Fantasy owners have to be happy to sport this defense
during their playoff run, as the team faces weaker offenses San Diego and
Arizona coming off the bye.

Copyright 2000 Commissioner.COM Inc and SportsLine.com Inc.
Your site is always at http://football.commissioner.com/ene

FB10SP


Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 07/11/2000 07:26 PM -----

	Susan Bailey
	07/11/2000 07:25 PM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc:
		 Subject: Susan Flynn Active Files

Carol,

I neglected to note that Enertek, S.A. de C.V. has also been assigned to
Samantha.

Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3806A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
E:mail:  Susan.Bailey@enron.com
----- Forwarded by Susan Bailey/HOU/ECT on 07/11/2000 07:23 PM -----

	Susan Bailey
	07/11/2000 07:10 PM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc:
		 Subject: Susan Flynn Active Files

Carol,

Per your request, attached is a list of the active Susan Flynn files (active
according to our recent Legal/Credit), for which have now
been assigned to either Samantha or me.

Susan S. Bailey
Enron North America Corp.
1400 Smith Street, Suite 3806A
Houston, Texas 77002
Phone: (713) 853-4737
Fax: (713) 646-3490
E:mail:  Susan.Bailey@enron.com


Mary,

As Brent Price is out of the country until July & I am travelling out of the
country more frequently, I would like to temporarily designate Susan Harrison
as a signer.  Susan is the Director of our off-system Settlements & Volume
Management groups.  This temporary designation will ensure that we maintain
appropriate signing coverage while Brent & I are unavailable.

Thanks,
Sally


ISDA PRESS REPORT - MAY 15, 2001

* Japan Must Speed Up Power Sector Deregulation to Lower Rates - Dow
Jones
* Single-Stock Futures Offer, The Promise of Fat Profits - Wall Street
Journal
* Goldman Sachs Names Japan Co-Presidents - Asian Wall Street Journal
* Gary Schieneman Named to FASB - BNA

Japan Must Speed Up Power Sector Deregulation to Lower Rates
Dow Jones Newswires - May 15, 2001
By Maki Aoto

TOKYO -- Japan should accelerate the ongoing electric power sector
deregulation to fully liberalize the retail market, in order to bring down
the country's high power rates while ensuring stable power supply, experts
said at an industry seminar Tuesday. The pressure is mounting for Japan's 10
power utilities, which have long enjoyed regional monopolies until a year
ago, to become cost- effective and performance-conscious after the
government partially liberalized the retail power market in March 2000.

However, the current scheme has so far failed to lure a large number of
potential entrants because of the high transmission fees they must pay to
conventional power companies.
"What happened in overseas (power industries) suggest that the
liberalization in Japan wouldn't only lower power rates but would also
contribute to stable power supply significantly," said Tatsuo Hatta,
professor of economics at the University of Tokyo.

Compared with the U.S., Japanese electricity charges are typically twice as
much for households and three times higher for industrial users.  "There is
a large discrepancy (in rates), and that is why we should hurriedly
implement the liberalization," Hatta said.

He said Japan's steep seasonal peak-load curve - one of the reasons the
power companies cite as the cause of high power rates in Japan - can be
altered once the prices are liberalized. "If power rates are set higher
during those peak hours following the liberalization, users would refrain
from using electricity."

Steven Kean, executive vice president of the U.S. energy major, Enron Corp.
(ENE), told the same seminar that Japan's power costs remain on the upward
trend despite cost reductions in Europe and the U.S.

He said Japan could achieve a cost-saving of Y4 trillion a year if its power
prices fall to levels in Organization for Economic Cooperation and
Development countries following the liberalization.
Hatta and Kean were speaking at the seminar called "Reassessing Power
Deregulation," which was co-sponsored by the Houston-based Enron.

Hatta of the University of Tokyo said "it's very wise" that Japan has begun
the deregulation with the "bilateral supply, or trade" system under which
suppliers and users clinch deals directly.
Under the current reforms, the sector for high-volume, large-lot industrial
and commercial users - which represents only 30% of the Y15 trillion market
- is opened to free competition. The government is to review the partial
deregulation by 2003 for further deregulation.

Japan should then introduce spot electricity trading such as futures and
derivatives to alleviate risks of complicated price volatility for power
providers, Hatta said.  Hatta and other experts attending the seminar said
further deregulation should destroy the systems that have supported the
country's high power rates - regional monopolies and the fair rate return
method, under which all costs are levied on prices.

"There is absolutely no need to set the same (power) prices" nationwide,
Hatta said. Power companies should make the opaque transmission fees
transparent and set them accordingly with regional demand, he said.

Yoshinori Omuro, vice president of Takashimaya Co.'s (J.TKA or 8233)
management department, acknowledged the slow progress of the deregulation.
Takashimaya, a major department store operator, has shifted to Diamond Power
Corp., a wholly-owned subsidiary of Mitsubishi Corp. (J.MIB or 8058) as its
power supplier at two of its 18 stores, with "strong back-up" from the
Ministry of Economy, Trade and Industry. "Despite the deregulation, the
situation isn't where we can negotiate with power utilities to reduce
(electricity costs). We have no choice but select independent power
providers," Omuro said.

Single-Stock Futures Offer - The Promise of Fat Profits
The Wall Street Journal  - May 15, 2001
By Peter A. Mckay and Kopin Tan

The concept of single-stock futures, which most U.S. financial exchanges
hope will be a cash cow, already has done the near-impossible: It got the
major Chicago exchanges to agree on something.

Monday, Chicago's three major futures and options exchanges said they will
jointly form a market for single-stock futures, a type of contract already
available in Europe that was recently approved by U.S. regulators. These
hybrid investing vehicles resemble stock options but allow investors to do
more, including having more freedom in betting against a stock.

The venture announced Monday represents a rare instance of cooperation among
usually heated local rivals -- the Chicago Board Options Exchange, Chicago
Mercantile Exchange and Chicago Board of Trade. The CBOE and CME each will
have a 45% stake in the new online exchange, while the Board of Trade will
have a 10% share, market executives said.

The Chicago exchange chiefs said their joint venture will be running by
August, when federal regulators are due to hammer out their final rules for
firms to trade single-stock futures. Individual investors will get access to
them by December under a separate set of standards.
The competition among exchanges is expected to be fierce, since the new
futures have unique crossover appeal among options, stock and futures
markets that rarely compete for the same products. Indeed, Monday's
announcement was considered just another in a string of several to come as
markets try to tap into one another's expertise to beat other competitors.

"From talking to our customers, they told us they wanted to use single-stock
futures to hedge their options positions," said Chicago Mercantile Exchange
Chairman Scott Gordon. "Once we heard that, it was pretty clear we should
talk to CBOE."

The Nasdaq Stock Market and the London International Financial Futures &
Options Exchange previously announced a similar deal.
Single-stock futures will be contracts pegged to a company's shares, settled
at a predetermined delivery date either by cash or delivery of shares. That
makes them different from options, which have been used since the 1970s and
convey the right, but not the obligation, to buy or sell stock.
In the Chicago deal, the Board of Trade was brought in toward the end of the
other two partners' initial talks. Officials from all sides acknowledged the
first two exchanges had the most natural alliance because of the CBOE's
expertise listing options pegged to individual stocks and the CME's success
in offering stock-index futures, particularly those pegged to Standard &
Poor's indexes.

The as-yet-unnamed joint venture will be a for-profit company with its own
management and board and will be structured separately as a regulated
exchange. Its single-stock futures will be traded electronically, with
orders entered through both CBOEDirect, a screen-based trading platform the
CBOE is preparing to launch later this year, and the CME's Globex2
electronic-trading system.

Dave Vitale, chief executive officer of the Board of Trade, said his
exchange also will try to persuade Eurex, a giant German-Swiss derivatives
market with which CBOT has an online alliance, to list the single-stock
futures on that platform. A CBOT spokesman said the exchange recently
contacted Eurex about the new joint venture, but hadn't received a response.

It also remains to be seen whether the new exchange's futures will be
"fungible," a securities-industry term referring to the common settlement of
securities, or the ability for investors to open positions at one market and
close them at another. Fungibility usually isn't a factor in the futures
business, and any decision to launch a nonfungible product will be an
intriguing litmus test as other exchanges prepare to trade single-stock
futures.

William Brodsky, chairman of the CBOE, said the exchanges are still ironing
out details of the proposed product, including fungibility.  While the law
doesn't require single-stock futures to be fungible, and the Securities and
Exchange Commission has indicated it won't force fungibility on exchanges,
other hurdles remain. Among them, whether Options Clearing Corp., which
clears options contracts and is owned jointly by the five major U.S. option
exchanges, will honor nonfungible contracts exclusive to one of the
exchanges.  If the new exchange opts to make the futures nonfungible, the
ability to trade easily will be a concern among investors and customers,
said partners at several option-trading firms.

Goldman Sachs Names Japan Co-Presidents
The Asian Wall Street Journal - May 15, 2001

Goldman Sachs Group Inc. promoted its head of Japanese investment banking
and its Asian fixed-income chief to be co-presidents of the firm's Tokyo
operations. Masanori Mochida, 46 years old, who runs the investment banking
division in Japan, and Thomas Montag, 44 years old, who heads the Asian
fixed income, currency and commodities businesses for Goldman, will replace
Mark Schwartz at the helm of the firm's Japanese operations. The move makes
Goldman one of the only foreign firms in Tokyo with a Japanese executive
running the day-to-day operations.

Mr. Schwartz was also chairman of Goldman's businesses across Asia, a
position that will disappear after he leaves the firm at the end of June.
Instead, the region will be split in two. Richard Gnodde, who is president
of the Asian businesses outside Japan, will retain that post.
Amid the reshuffle, Goldman's Asian operation is losing its representation
on the firm's global management committee. Mr. Schwartz, who is retiring
after 22 years at Goldman, was a member of the investment bank's 15-member
policy-making body. None of his successors are as senior in the firm.

Gary Schieneman Named to FASB Replacing Cope in Security Analyst Seat
BNA - May 15, 2001
By Steve Burkholder

NORWALK, Conn. --Gary Schieneman, a veteran analyst overseeing Merrill Lynch
& Co.'s international stock studies, was named to a two-year term as a
member of the Financial Accounting Standards Board, the board's parent group
said May 14.

The Financial Accounting Foundation said Schieneman plans to join the board
July 1 and will serve out the remainder of the term of Anthony Cope, who
left the board in late March to join the newly restructured International
Accounting Standards Board.

Schieneman, director of comparative global equity analysis at Merrill Lynch,
will occupy a seat on FASB that has been set aside for a security analyst.
After his two-year term is completed, he would be expected to be eligible
for a full five-year term at the accounting board.

Because FASB members can serve a maximum of 10 years--normally two five-year
terms--on the panel, Schieneman then would be eligible for a second term of
three years, a spokeswoman told BNA.

Period of Transition for FASB

This summer will be a period of significant transition for the seven-member
FASB. Along with Schieneman, two other new members join the panel: in July,
John Wulff, formerly chief financial officer at Union Carbide; and in
September, Katherine Schipper, a professor of accounting at Duke University
who also has taught at the University of Chicago.

Wulff will replace Gaylen Larson, taking a seat that has been occupied by a
person who has worked as a corporate financial executive. Schipper, who
replaces Gary Mueller, is to assume the chair informally reserved for an
accounting academic.

Major decisions of FASB require at least five members to vote together as a
supermajority. As the board currently is operating with only six members, it
plans to wrap up significant decision-making in its high-priority business
combinations project by June 30, when Larson and Mueller leave the panel.

Schieneman Brings International Experience

Since 1995, Schieneman has directed Merrill Lynch's work in global
accounting, financial reporting, and related issues that affect
international investments, according to a news release issued by the FAF.
From 1990 to 1995, he was a vice president at Smith New Court, where he
headed Latin American research and strategy. Previously, he worked at
Prudential-Bache Securities as a vice president for international equity
research, according to the FAF release.
Schieneman began his accounting career as an auditor for what is now known
as PricewaterhouseCoopers, for which he worked in Paris for a year, FAF said
in the release. He also served as an assistant controller for the European
operations of Mobil Corp., working in London.

**End of ISDA Press Report for May 15, 2001. **

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


Please fix.

 -----Original Message-----
From: 	Saunders, James
Sent:	Monday, October 29, 2001 7:37 AM
To:	Hayslett, Rod
Subject:	FW: EGS Acctg/Finance issues mtg

i did NOT receive invite

 -----Original Message-----
From: 	Saunders, James
Sent:	Monday, October 29, 2001 7:36 AM
To:	Hayslett, Rod
Subject:	RE: EGS Acctg/Finance issues mtg

thanks

 -----Original Message-----
From: 	Hayslett, Rod
Sent:	Monday, October 29, 2001 7:32 AM
To:	Saunders, James
Subject:	RE: EGS Acctg/Finance issues mtg

I think Kathy has a new one out for the 7th.

 -----Original Message-----
From: 	Saunders, James
Sent:	Monday, October 29, 2001 7:26 AM
To:	Hayslett, Rod
Subject:	FW: EGS Acctg/Finance issues mtg

Rod, I put this on my calendar a week or so ago -at your/Kathy's request, but noticed you do NOT have same...
no mtg??

 << Message: EGS Acctg/Finance issues mtg >>


The homework assignment of the fourth grade
was to have each child get their parents to tell
them a story with a moral at the end of it.

The next day the kids came back and one by
one began to tell their stories.

Kathy said, "My father's a farmer and we have
a lot of egg-laying hens. One time we were
taking our eggs to market in a basket on the
front seat of the pickup when we hit a bump in
the road and all the eggs went flying and broke
and made a mess."

"And what's the moral of the story?"
Asked the teacher.

"Don't put all your eggs in one basket!"

"Very good," said the teacher. "Now, Lucy?"

"Our family are farmers too. But we raise
chickens for the meat market. We had a
dozen eggs one time, but when they hatched
we only got ten live chicks. And the moral
to this story is, don't count your chickens
until they're hatched."

"That was a fine story, Lucy. Johnny, do
you have a story to share?"

"Yes, ma'am, my daddy told me this story
about my Aunt Karen. Aunt Karen was a
flight engineer in Desert Storm and her plane
got hit. She had to bail out over enemy
territory and all she had was a bottle of
whiskey, a machine gun and a machete. She
drank the whiskey on the way down so it
wouldn't break and then she landed right in
the middle of 100 enemy troops. She killed
seventy of them with the machine gun until
she ran out of bullets, then she killed twenty
more with the machete till the blade broke
and then she killed the last ten with her
bare hands."

"Good heavens," said the horrified teacher,
"what kind of moral did your daddy tell you
from that horrible story?"

"Don't fuck with Aunt Karen when
she's been drinking."


----- Forwarded by Steven J Kean/NA/Enron on 02/28/2001 02:09 PM -----

	James D Steffes
	02/27/2001 08:30 AM

		 To: Alan Comnes/PDX/ECT@ECT, bhansen@lhom.com, Harry
Kingerski/NA/Enron@Enron, hgovenar@govadv.com, Janel
Guerrero/Corp/Enron@Enron, JBennett@GMSSR.com, Jeff Dasovich/NA/Enron@Enron,
jkradin@marathon-com.com, Joe Hartsoe/Corp/Enron@ENRON, John
Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Karen Denne/Corp/Enron@ENRON,
Linda Robertson/NA/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON, Mary
Hain/HOU/ECT@ECT, mday@gmssr.com, Paul Kaufman/PDX/ECT@ECT,
rcarroll@bracepatt.com, rlichtenstein@marathon-com.com, Richard
Shapiro/NA/Enron@Enron, Sandra McCubbin/NA/Enron@Enron,
syamane@marathon-com.com, SGovenar@govadv.com, Steven J Kean/NA/Enron@Enron,
Susan J Mara/NA/Enron
		 cc:
		 Subject: Letters to Senators

FYI.  Here are letters Enron (Steve Kean) sent to US Senators about real
solutions for California.  The Feinstein / Murkowski letters are very good
overviews of our recommendations on what to do and what not to do.

Jim

----- Forwarded by James D Steffes/NA/Enron on 02/27/2001 07:57 AM -----

	Maureen McVicker
	02/26/2001 05:27 PM

		 To: Linda Robertson/NA/Enron@ENRON, Tom Briggs/NA/Enron@Enron, Scott
Bolton/Enron Communications@Enron Communications, Paul Kaufman/PDX/ECT@ECT,
Susan J Mara/NA/Enron@ENRON, Joe Hartsoe/Corp/Enron@ENRON, Sandra
McCubbin/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Alan Comnes/PDX/ECT@ECT, Vance Meyer/NA/Enron@ENRON,
Karen Denne/Corp/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON
		 cc: Lora Sullivan/Corp/Enron@ENRON
		 Subject: Letters to Senators

Attached are the letters sent to Senators Wyden, Feinstein & Murkowski.


FYR

-----Original Message-----
From: Astramowicz, Jarek
Sent: Tuesday, November 27, 2001 3:46 AM
To: Cattigan, Ed; Overfield, Adam; Forycki, Krzysztof; Edgley, Anne;
Wantschek, Lloyd; Derrick Jr., James
Cc: Glowacki, Jacek; Martin, Sophie; Hackett, Christian; Willott, Carys;
Muscroft, Brian; Parrish, Paul E.
Subject: RE: ENS - Draft Form of Acceptance

I agree with your proposal - this is probably the best we could do anyway.

I think you have done a piece of good but frustrating work there.

Jarek

-----Original Message-----
From: Cattigan, Ed
Sent: 26 November 2001 15:30
To: Astramowicz, Jarek; Overfield, Adam; Forycki, Krzysztof; Edgley,
Anne; Wantschek, Lloyd; Derrick Jr., James
Cc: Glowacki, Jacek; Martin, Sophie; Hackett, Christian; Willott, Carys;
Muscroft, Brian; Parrish, Paul E.
Subject: FW: ENS - Draft Form of Acceptance

Good Afternoon

Attached are 2 documents in relation to final Settlement of the outstanding Delay in Start up (relating to the replacement of the previously damaged rotor) claim. One is a detailed history of the claim and the other a final acceptance notice proposed by the brokers.

I have been negotiating the outstanding portion of the claim now for nearly 9 months and believe that due to the circumstance surrounding the late delivery of the rotor and the advice of external council this settlement is acceptable to ENS. Will you please advise wether you agree with accepting this sum as full and final settlement.

In way of context this settlement is $750k of a possible $901k an 83% success on a claim we had been advised would not have been worth taking to arbitration if the insurers had become difficult.

regards

Ed

Sophie. Could you please confirm that you are happy with the wording of the acceptance notice.
NOTE I would really like to complete this by Wednesday this week as this is my last week.

-----Original Message-----
From: BODIMEADE, Alfred [mailto:ABodimeade@heathlambert.com]
Sent: 26 November 2001 10:34
To: 'Ed Cattigan'
Subject: FW: ENS - Draft Form of Acceptance

Ed
Let me know a.s.a.p. if you have any problem.
I think the figures are correct.
Alf


Please plan to attend a  reception and dinner for those Analysts and
Associates due to rotate in the near future who have made significant
contributions to  Enron North America.  The function will be hosted  by the
Office of the Chairman at Morton's Steak House located at 5000 Westheimer on
July 27, 2000.  The reception will start at 7:00pm with dinner to follow at
7:45pm.  Please RSVP to Ted Bland at ext. 3-5275 no later than close of
business Monday, July 24.  This will be an informal gathering to discuss the
progress of ENA and an open forum to interact with the management team on a
one on one basis.  See you on Thursday.

 Mark, Dave and John


me, me, me....you girls are all the same

 -----Original Message-----
From: 	Slone, Jeanie
Sent:	Tuesday, October 16, 2001 4:58 PM
To:	Arnold, John
Subject:

hey stupid-it is almost yr-end.  please do your mid-year reviews or i'm never going to squeeze limes for you again.

  i can't believe i've been reduced to pathetic begging and empty threats.  you're killing me.


FYI

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/12/2001
03:15 PM ---------------------------

evan@syncrasy.com on 04/12/2001 01:31:37 PM
To: vkamins@ect.enron.com
cc:
Subject: Syncrasy prepares you for the summer

[IMAGE]

[IMAGE][IMAGE][IMAGE][IMAGE][IMAGE][IMAGE][IMAGE][IMAGE]

Syncrasy, LLCv

713.228.8470 Off
713.228.4147 Fax

909 Texas Avenue
Suite 1314
Houston, TX 77002

www.syncrasy.com

Sales:
713.228.4407

Development Offices:
970.247.4139 Off
970.247.7951 Fax

835 Main Avenue
Suite 221
Durango, CO 81301

	Is your Company financially susceptible  to weather fluctuations?

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	?
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	?
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	 [IMAGE]
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	[IMAGE]

	 909 Texas Ave., Suite 1314
	  713.228.8470  Main
	   www.syncrasy.com
	  835 Main Ave., Suite 221
	   970.247.4139 Main
	 Houston, TX  77002
	 713.228.4147  Fax

	Durango, CO  81301
	  970.247.7951 Fax

	 713.228.4407  Sales


Sorry it's taken so long, Lisa Mellencamp (legal) and I will be.    See you
Monday afternoon/evening at your offices at 101 California, Suite 1950.
Steffes is joining us.

 -----Original Message-----
From:  Dasovich, Jeff
Sent: Wednesday, April 11, 2001 10:25 AM
To: Tribolet, Michael
Subject: Re: Composition of unsecured creditors committee

Michael:
Do we know who from Enron will actually be on the committee?
Best,
Jeff

	Karen Denne 04/11/2001 09:29 AM 	   To: Jeff Dasovich/NA/Enron@Enron, Susan J
Mara/NA/Enron@ENRON, Sandra McCubbin/NA/Enron@Enron, Paul
Kaufman/PDX/ECT@ECT, Mark Palmer/Corp/Enron@ENRON  cc:   Subject: Composition
of unsecured creditors committee

fyi...
---------------------- Forwarded by Karen Denne/Corp/Enron on 04/11/2001
09:29 AM ---------------------------
From: Michael Tribolet/ENRON@enronXgate on 04/11/2001 07:11 AM
To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Rick
Buy/ENRON@enronXgate, William S Bradford/ENRON@enronXgate, Richard
Shapiro/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Karen
Denne/Corp/Enron@ENRON, Lisa Mellencamp/HOU/ECT@ECT, Vicki Sharp/HOU/EES@EES,
Travis McCullough/HOU/ECT@ECT
cc: jklauber@llgm.com@SMTP@enronXgate, ceklund@llgm.com@SMTP@enronXgate,
byoung@llgm.com@SMTP@enronXgate, jlhuemoe@llgm.com@SMTP@enronXgate

Subject: Composition of unsecured creditors committee

Please see appointment list attached below:

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

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

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

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

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

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

 - Appointment of Committee.pdf << File: Appointment of Committee.pdf >>


We need to update the advice we received from Mexican counsel to address the
online trading issue.  I spoke to Nony and while we're at it I'm also going
to ask whether there are any other updates since they rendered their original
advice.  Are there are other issue you would like to add to our request for
advice?


Here is the revised amendment.

 -----Original Message-----
From: 	Osire, Ann
Sent:	Thursday, August 02, 2001 10:35 AM
To:	Perlingiere, Debra
Cc:	Dickson, Stacy E.; Wallumrod, Ellen; Osire, Ann
Subject:	GISB Amendment (96023476)- Coast Energy Group, a division of Conerstone Propane, L.P.

Debra,

I spoke with Darlene Volker of Coast Energy.  She said she received the amendment but we left out "Propane" in the name.  She wants us to send her another amendment with the corrected name (See above for the full name).    You can forward me the corrected amendment and I will get it out to her.  Or if you prefer to do it, then her e-mail address is darlene-volker@coastenergy.com.

Thanks,
Ann


Ralph:

Thanks.  Really looking forward to discussing further.  The proposal is very
promising.  As you can imagine, Enron's going to have two concerns:  1)
ensuring that eligibility for participating in the competition is as broad as
possible (paragraph #1), and 2) ensuring that the "terms specified by the
Commission that will ptrotect the regulated service and its other customers
from financial harm" don't unintentionally (or otherwise) have the effect of
killing direct access (like AB 1890 did).

Appreciate you sharing this.  You can count on Enron's support.  (Though I
understand that Enron's support these days is not the most sought after
commodity---I leave that up to your judgment.  We'll be prepared to help in
away way you see fit.)

Have a nice weekend.

Jeff


> here's a reminder:
>
>
> it's this thursday (may 3)
> it starts at 7 (sort of)
> it might be fun (sort of)
> people with little kids can come over at 6 (sabrina, janet, maria, joe)
> it's take-out pot-luck, so please bring 1 item of take-out (any type is a
> good type)
> sabrina will supply the cake (dexter is baking it)
> i will supply beer, gin and champagne (yum)
> my address is 466 14th street #11 (tween guerrero and dolores)
> my phone is 415-437-9534 (so there)
> my shoe size is 7 (sometimes 7 and a half)
> the evening's game choice will be---------> "operation" (so practice up)
>
> thanks for celebrating my birthday with me!
>
> xo
> cs
>
> -------------------------------------------------------------++
>
>       colleen silva
>       producer
>       RED SKY       >san francisco
>       v 415-633-2023
>       c 415-336-2219
>       <http://www.redsky.com>
>


- 12-13-2001.xls


ditto
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/30/2000 03:33
PM ---------------------------

"Thompson, Peter J." <peterthompson@akllp.com> on 11/30/2000 02:39:53 PM
To: "Kay Mann (E-mail)" <kay.mann@enron.com>
cc: "Pipitone, Paul" <paulpipitone@akllp.com>, "Cobb, Chris"
<chriscobb@akllp.com>

Subject: Exhibits to Gas Turbine Purchase Agreement

 <<Exhibits To Enron South America Turbine blk.doc>>  <<Exhibits to Gas
Turbine Purchase Agreement - without notations.DOC>>

Attached please find both a clean and blackline of the Exhibits to the
Enron South America Turbine Agreement.

Please be aware of the following:

1. Exhibits B-1 and H-2 need to be added.

2. Does Exhibit F need to be updated and revised before signing?

3. In Section 3.1 of Exhibit K, the terms "Specific Date" and
"Recovery Schedule" are not defined.

4. For Exhibit T, please confirm that Enron has received all
documents that it should have received by now.

 - Exhibits To Enron South America Turbine blk.doc
 - Exhibits to Gas Turbine Purchase Agreement - without notations.DOC


Jeff:
Has there been any discussion on our side with who the Calculation Agent
would be?  Normally, it is one of the swap counterparties.  Is this a role
that Enron Corp. can and should perform?  With respect to the Agreement, I am
looking at a June 2nd draft and was wondering if anyone has focused on the
language in Section 2, and in particular, Section 2(c)  and Section 7.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)


These look ok to me but I think somebody who knows what they're talking about
should look at them too.
---------------------- Forwarded by Mark Taylor/HOU/ECT on 01/28/2000 05:08
PM ---------------------------

Awais Omar
01/27/2000 05:53 PM
To: Mark Taylor/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT
cc: Marcello Romano/LON/ECT@ECT, Louise Kitchen/LON/ECT@ECT, David
Forster/LON/ECT@ECT
Subject: Tokemised Periods - US Nat Gas

Mark,

Below are the Tokenised Day Ahead and Balance of Month US Nat Gas
descriptions we agreed and a complete example product for each.

Please give us the final A OK for these.

US Nat Gas Day Ahead

The transaction is for delivery from and including the next day following the
trade day to and including the next Delivery Day following the trade date;
where Delivery Day is any day which is both: a) a Monday, Tuesday, Wednesday,
Thursday or Friday AND b) a Nymex trading day.

E.G.
US Gas PHY       ANR LA/GATH     Day Ahd     USD/MM

A US Gas Transaction with Houston Pipeline Company, under which Seller shall
sell and Buyer shall purchase a quantity of natural gas equal to the Daily
Contract Quantity at the Contract Price on a firm basis. The Contract Price
shall be as submitted by Counterparty via the website.  The Period of
Delivery shall be from the Effective Date through the Termination Date.
The transaction is for delivery from and including the next day following the
trade day to and including the next Delivery Day following the trade date;
where Delivery Day is any day which is both: a) a Monday, Tuesday, Wednesday,
Thursday or Friday AND b) a Nymex trading day.
The transaction is for ANR Louisiana, gathered.
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the price is quoted shall be millions of
British thermal units and the quantity shown shall be in millions of BTUs per
day.

US Nat Gas Balance Of Month

The transaction is for delivery from and including the next calendar day
following the trade day to and including the last calendar day of such
calendar month.

E.G.
US Gas PHY       ANR LA/GATH     BoM         USD/MM

A US Gas Transaction with Houston Pipeline Company, under which Seller shall
sell and Buyer shall purchase a quantity of natural gas equal to the Daily
Contract Quantity at the Contract Price on a firm basis. The Contract Price
shall be as submitted by Counterparty via the website.  The Period of
Delivery shall be from the Effective Date through the Termination Date.
The transaction is for delivery from and including the next calendar day
following the trade day to and including the last calendar day of such
calendar month.
The transaction is for ANR Louisiana, gathered.
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the price is quoted shall be millions of
British thermal units and the quantity shown shall be in millions of BTUs per
day.

Regards

Awais
Ext 31859


Attached is the draft letter to TJ Sattler regarding Waha/Henry Hub Spread
Trade.  Please review and provide me with any comments.

Thanks.


Attendees: Norman Packard, Jim Nusbaum & William Finnoff of the Prediction Co. Enron:  Lavorato, Kaminski & Steve Leppard


Thanks.  Bought Travelocity.com.  I had some extra cash sitting around in my
401K.

DG


was it any good


Charles Schwab & Co., Inc.

Internet Daily for Tuesday, July 24, 2001
by Frank Barnako CBS MarketWatch.com

-----------------------------------------------------------------
Napster taps Bertelsmann exec as CEO

Konrad Hilbers, former executive at Bertelsmann AG's music
division, has been named chief executive of Napster Inc.,
replacing interim CEO Hank Barry. "Konrad's extensive experience
in the technology sector and the music business, in both the
United States and Europe, makes him uniquely qualified to lead
Napster into the future,'' said Barry, who held the CEO slot for
13 months. In a statement, Hilbers said he looks forward to
challenges at Napster. "The next step is to complete the task of
transforming this phenomenon into a business that respects
copyrights and rewards creators," he said.

-----------------------------------------------------------------
Disney seeks control of online promos

Access to movie trailers online will be less available if the
Walt Disney Co. has its way. The promos are used by many Web
sites to promote video sales and rentals. Disney's Buena Vista
Home Entertainment division is seeking an injunction against
Video Pipeline for making the trailers available on the
Internet. Disney is asking for damages of $111 million. Disney
and Video Pipeline have worked together for years distributing
trailers to video retail stores. The promotion service claims it
has rights under the fair use provision of copyright law, but
Disney disagrees. "They (Disney) want to have total control
because they want to compete with retail," Video Pipeline
President Jed Horovitz said. Buena Vista said, "Video Pipeline
is before the court because it knowingly took our copyrighted
materials and infringed on them by making unauthorized movie
trailers."

-----------------------------------------------------------------
AOL to begin IM tests this summer

AOL Time Warner is finalizing the technology it needs to test
extending access to its Instant Messaging features from other
online services. In a report to the Federal Communications
Commission, AOL said it's negotiating with a potential partner
over performance, cost sharing, privacy and security policies,
Reuters reported. "Upon successful completion of these tasks,
AOL then plans to finalize its gateway, install updated code on
its production servers and begin developing a finished client
that supports interoperability,'' the report said.

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Thanks Doc - sounds like fun - see you Saturday!


[IMAGE]

The California Electricity Crisis has resulted in an avalanche of
opportunity  for the Center for the Advancement of Energy Markets (CAEM) to
provide its views  on energy restructuring. Below you will find links to some
of our recent  documents.

In May, CAEM issued an update to the RED Index 2001 that?now includes the 13
provinces and territories of  Canada. The RED Index is a scorecard on the
progress states are making in  electricity restructuring. RED  Index Update
for Canada.?USA Today did a full page spread using CAEM,s  RED Index to give
a summary of activity in the top 25 states. USA  Today Article. The Governor
of Pennsylvania included the RED Index Rank of  Pennsylvania in his
State-of-the-State Address. Pennsylvania  Governor The NY PSC issued a Press
Release on the RED Index. NY  Commission

CAEM is pleased to announce the formation of a public-private sector project
called the Distributed Energy Task Force. At the request of important members
of  Congress, CAEM will be assessing opportunities for promotion of
distributed  energy technologies and matching those opportunities with policy
instruments,  i.e., tax incentives, funds for R&D etc. For a copy of the
project  description and participation information, email a request to
jwimberly@caem.org.

In February, CAEM sponsored a meeting of the newly formed Leadership Council
on Energy Restructuring, an umbrella group of industry executives and public
sector officials who support the development of a coherent strategy on
energy  restructuring. Leadership Council  Document

In April, CAEM filed comments with the FTC on the proceeding that
was?initiatedat the request of House  Energy and Commerce Committee Chairman
Billy Tauzin on the impact of?States  restructuring. CAEM FTC  Comments

In March, CAEM held its first meeting of the DISCO of the Future Forum. We
have posted several documents from that Forum. DISCO Forum Documents

Last Sunday, the Philadelphia Inquirer published the views of CAEM on
President Bush,s Energy Plan. Philadelphia  Inquirer Article

In January, CAEM appeared on CNN to  discuss the California Crisis. CNN  Link

Feel free  to forward this email to colleagues who may be interested in the
Center's  activities.? For other information and  documents, please visit our
website at http://www.caem.org

Please let us know if we can be of assistance to you in your efforts on
energy restructuring.

If you do not wish to receive updates on CAEM,s Activity, please reply with
the word "remove" in the subject line. Thank you.
?

Ken Malloy
President
Center for the Advancement of Energy  Markets
5765-F Burke Center Parkway (PMB333)
Burke, VA 22015-2233
o  703-250-1580
f? 248-928-5040
e kmalloy@caem.org
w http://www.caem.org

?
 - new logo16.bmp


Let's make the new one HSC, I think that is what I intended.
---------------------- Forwarded by Janet H Wallis/HOU/ECT on 03/28/2001
09:10 PM ---------------------------

Janet H Wallis
03/28/2001 09:08 AM
To: Dan J Hyvl/HOU/ECT@ECT
cc:
Subject: Panther Pipeline, LTD

Re; 0:/Legal?DHYVL/DJH/2001/Ltr/2001-005crfm.doc
I just did a deal with Panther and I would use the same contract with this
additional language.

Period of Delivery: April 01, 2001 - March 31, 2002

add that either party can terminate with 30 days written notice
add evergreen language so the deal will roll after the one year term.

Thanks,
J

Is the commodity price at Katy tail gate or HSC?  It looks like the contract
says both?


----- Forwarded by Mark Taylor/HOU/ECT on 02/23/2001 11:52 AM -----

	Mark Taylor
	02/20/2001 06:59 PM

		 To: John Viverito/Corp/Enron@ENRON
		 cc: Adam Gross/HOU/ECT@ECT, Alan Engberg/HOU/ECT@ECT, Michael A
Robison/HOU/ECT@ECT
		 Subject: RE: ISDA TDCC(Dow)/Enron

Gentlemen:

Several points regarding the below:

We worked for the first half of 1999 to try and negotiate a master agreement
with TDCC but failed due to an inability to agree on credit terms (i.e. TDCC
wouldn't sign a master with ANY credit terms in it at all).  Rod Nelson was
the Credit Dept. person responsible for this counterparty at that time.
If we want to start down this road again, the first step is to contact
someone in Credit and have them generate the necessary credit terms for  a
master agreement.  Unless the commercial folks have already, I'll ask someone
in my group to get that process started.
The e-mail from Dow indicates:
 "TDCC has never accepted and cannot accept the Terms and Conditions included
in the
confirmations sent by Enron."
All credit concerns aside, if Dow is not signing and returning our
confirmations, then based on this statement our derivatives trading with them
should stop immediately on legal grounds.
The e-mail as forwarded to me did not contain the attachment.  Does someone
here have it?

Let's hope it works out better this time.

Mark

	John Viverito@ENRON
	02/20/2001 01:55 PM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc: Michael A Robison/HOU/ECT@ECT, Adam Gross/HOU/ECT@ECT, Alan
Engberg/HOU/ECT@ECT
		 Subject: RE: ISDA TDCC(Dow)/Enron

Mark-

Please see the correspondence below regarding Dow Chemical' s desire to enter
into an ISDA with us.

Let us know who will be leading the charge from legal.

Thanks,

John

John Viverito
Phone (713) 345-7814
Fax       (713) 646-3490
e-mail John.Viverito@enron.com
----- Forwarded by John Viverito/Corp/Enron on 02/20/2001 01:50 PM -----

	Alan Engberg@ECT
	02/20/2001 12:41 PM

		 To: John Viverito/Corp/Enron@Enron
		 cc: Michael A Robison/HOU/ECT@ECT, Adam Gross/HOU/ECT@ECT
		 Subject: RE: ISDA TDCC(Dow)/Enron

John/Mike, can someone contact Luis Antuna (name and number below) to discuss
putting together an ISDA between Dow Chemical Co. and EGM.

Thanks,
Alan
---------------------- Forwarded by Alan Engberg/HOU/ECT on 02/20/2001 12:36
PM ---------------------------

	From:  Adam Gross                           02/14/2001 03:21 PM

To: Alan Engberg/HOU/ECT@ECT
cc:
Subject: RE: ISDA TDCC/Enron

---------------------- Forwarded by Adam Gross/HOU/ECT on 02/14/2001 03:20 PM
---------------------------

"Billings, Mike (ME)" <mbillings@dow.com> on 02/09/2001 11:28:11 AM
To: "Antuna, Luis (L)" <LAntuna@dow.com>, "'agross@enron.com'"
<agross@enron.com>
cc: "Corbett, Cheryl (CE)" <CECORBETT@dow.com>
Subject: RE: ISDA TDCC/Enron

Thanks Luis,

I really appreciate your initiative to document that we have never accepted
and cannot accept their Terms and Conditions.  We are reversing the flow and
will leverage an ISDA Agreement that works for us and for them.

Thanks,
Mike

>  -----Original Message-----
> From:  Antuna, Luis (L)
> Sent: Friday, February 09, 2001 11:59 AM
> To: 'agross@enron.com'
> Cc: Billings, Mike (ME); Corbett, Cheryl (CE)
> Subject: ISDA TDCC/Enron
>
> Mike Billings has given us your name as the first contact person in Enron
> to negotiate an ISDA agreement with The Dow Chemical Company (TDCC).  Our
> files show an ISDA between Enron Capital & Trade Resources and two Dow
> entities (Dow Hydrocarbons & Resources, and Dow Chemical Canada). In
> addition to this, my understanding is that TDCC (my predecessor in this
> position) and Enron ( presumably a lawyer) had some discussions about an
> ISDA, but for some reason they were not successful. Despite this, the
> level of trading between the two companies have increased and TDCC has
> never accepted and cannot accept the Terms and Conditions included in the
> confirmations sent by Enron. For these reasons, we think we should agree
> on an ISDA where conditions acceptable to both parties can apply to the
> intense trading between the two companies.
>
> In order to speed up the process, I have enclosed to this message Dow's
> template for the ISDA Schedule. We would appreciate if Enron could review
> the attached draft and come back with any comments or issues for
> discussion. Please forward this message to the responsible person asking
> him to contact me for any discussion. Thanks.
>
> Regards
>
>  << File: Enron North America Corp.(draft) 2-9-01.doc >>
>
>
> Luis Antuna
> Attorney - Financial Law
> The Dow Chemical Company
> 2030 Dow Center
> Midland, MI  48674
> Tel: (517) 638-6789
> Fax: (517) 636-0861
> lantuna@dow.com
>


Gerald,

If you are ok with this, would you please put together executable copies for us to sign and get to Ormat.  If not, let me know.

Thanks,
Chris Hilgert
Enron Compression Services
Work: 713-853-7350
Cell:   713-857-2479
www.enron.com/compression

-----Original Message-----
From: Hank Leibowitz [mailto:hleibowitz@ormat.com]
Sent: Tuesday, July 17, 2001 1:25 PM
To: Hilgert, Chris
Subject: RE: Confidentiality Agreement

Chris,
The CA looks okay.  I made one change in para 4 that requires Enron to identify and mark the confidential information sent to Ormat.  I presume that not ALL correspondence between us will have to do with structured horsepower transactions.

See attached.

Hank

-----Original Message-----
From: Hilgert, Chris [mailto:Chris.Hilgert@ENRON.com]
Sent: Friday, July 13, 2001 2:24 PM
To: hleibowitz@ormat.com
Cc: Bennett, Peter
Subject: Confidentiality Agreement

Hank,

You will find attached a confidentiality agreement as discussed for your
review.  We will call you early next week to discuss the potential
Transwestern deal further.  Have a good weekend.

 <<Confid--Ormat11.DOC>>

Thanks,
Chris Hilgert
Director
Enron Compression Services
Work: 713-853-7350
Cell:   713-857-2479
www.enron.com/compression


CONGRATULATIONS!!!
PAT JOHNSON is the winner for +The Name This Newsletter Contest,.  It was a
close call. After receiving over 50 great ideas, the PR Dept had a tough time
narrowing the list to the top ten for Mark Frevert,s final decision.  We,d
like to thank everyone who submitted suggestions and a special thanks to Pat
Johnson for sending in the winning name EnTouch.

BUSINESS HIGHLIGHTS

EGM Coal & Emissions
The November and December NYMEX market remains very tight.  Offers in the OTC
market have climbed to the low $40s.  The highest reported trade for December
was reported at $38.50.   The tightness should continue through the first
half of the year  with the Martin County mine still shut down.  The rest of
the year remains strong piggy backing off of the current spot market.

Finally--Life beyond the 150 to 155 range--vintage year 2000 SO2 allowances
broke out of this trading range this week.  The low trade was around $119.50
and the last trade was around $120.50.  The sharp drop in prices was caused
in large part by the news of Dominion Virginia Power settling the New Source
Review lawsuit brought against it by the state of NY and the EPA Continuing
rumors of further NSR related settlements will likely create continued
volatility.  It is as yet unclear what the new price floor will be.

NOx has settled down a bit with last trade 2001 vintage of $675.

Principal Investments
Solo Energy Corporation, an Alameda, California based developer of Wireless
Energy microturbine products to supply superior on-site energy service to
U.S. commercial and light industrial customers, announced that Enron North
America has completed an equity investment in Solo Energy as well as entered
into an alliance agreement.

In exchange for warrants to purchase the Company,s preferred stock, Enron
will assist in obtaining fuel contracts to support the Company,s distributed
generation contracts, including the provision of gas and backup electricity,
and will work with the Company to support its market and gas technology
research.

NEWS FROM THE GLOBALFLASH

EnronCredit.com
On Halloween, Enron Credit.com hit the City of London last Tuesday. As an
original PR stunt, the EnronCredit.com team organized a Grim Reaper with two
female vampires to distribute candy carrying the message, "Corporate
bankruptcies are on the increase and could be your worst nightmare. You can
protect your company and sleep well at night". Locations for the distribution
of 5,000 packs of candy were Bank, Broadgate and Canary Wharf. The general
feedback and reaction of people was positive. Photos of the event will be
available on the EnronCredit.com site.

Enron Japan Corp.
Enron is powering ahead in Japan following the official launch of Enron Japan
Corp. in Tokyo last week.  In keeping with Japanese tradition, Ken Lay, Joe
Hirl, Ken Rice and Mike McConnell donned "happi coats" - a sort of short
kimono - and used ceremonial hammers to break the lid of a wooden cask of
sake in front of an audience of 350 drawn from major companies and
government.  Enron has made an immediate impact already by offering eligible
consumers 3-5 year contracts with immediate savings of up to 10 percent in
the first year.   View the Japan website at www.enron.co.jp  [No worries,
it's in Japanese and English ...Ed]

There are 35 Enron employees in the Tokyo office including an Enron Metals
team.  EBS will be staffing up there over the coming months.

Nordic energy agreement with UPM-Kymmene
Enron Nordic Energy and UPM-Kymmene Corp. have signed a two-year portfolio
management agreement covering UPM Kymmene's Nordic power portfolio. The
Mid-Market desk in the Oslo office will assist UPM in optimising its
portfolio of approximately 14 TWh. energydesk.com will provide UPM with the
risk management system used in the process. In addition, the agreement opens
the door for Enron Energy Services to explore a variety of opportunities
within the company. The Nordic agreement is the first step towards a broader
scope of co-operation with UPM on a European and Global basis. The total
contract value is estimated to be $375 million.

UPM-Kymmene's nominal electricity resources total about 3000 MW, of which
2500 MW in Finland and about 500 MW in other countries. The group's power
procurement totals approximately 18 TWh per year, of which about 14 TWh in
Finland. Around 15 TWh/a is consumed by the group's own mills and the rest is
sold to the market.

http://www.upm-kymmene.com
http://www.upm-kymmene.com/upm/energy/energybuild.html

The deal was led by Sami Tenngren - Nordic Mid-Market, and was supported by
Magnus Groth - EES, Jukka Hormaluoma - energydesk.com, and Martin Rosell -
Legal.

Congratulations on a job well done to all those who worked so hard to put
this transaction into place........Thor Lien.

Australia
Despite heavy flooding in NSW, the weather is looking up for Enron
Australia.  Last week, the Sydney Office launched online Hong Kong weather
derivatives  and the Sydney weather node traded on EnronOnline in the US time
zone.  With this precedent, we hope to support the takeoff of global weather
on EnronOnline.

The Coal Group in Sydney has suddenly become very popular. There is no doubt
that a recent sale to AES for the plant at Barbers Point, Hawaii is the real
reason.  Coal purchases during year 2000 have been concluded with most major
producers in Indonesia and Australia.  We will soon be loading our first
shipment from China. Deliveries to Nippon Steel in Japan are underway. Also,
a shipment to a large power utility in Japan will take place in early 2001.

Off-shore wind plans
Enron has entered into agreement to purchase the development assets of a 30
MW offshore wind project in the UK.  The Harwich project, situated in
Gunfleet Sands approximately eight kilometres offshore in the North Thames
Estuary is believed to represent one of the first serious investments in the
development of offshore wind energy in the UK.

ENRONONLINE STATISTICS

Below are the latest figures for EnronOnline as of November 27, 2000.

* Total Life to Date Transactions> 464,000
* Life to Date Notional Value of Transactions > $263 billion

NUGGETS & NOTES

"How does your earnings target look for the quarter?" ) Brent Price,
VP/Operations & Chief Accounting Officer for EGM

"Always price the illiquidity risk premium appropriately!" ) Doug Friedman,
Director of Financial Petrochemicals and Plastics

What people say to Julie Gomez,VP/Upstream Services-ENA - "I heard your laugh
clear across the floor!!!"

IN THE NEWS

"The uncertainty [of the presidential election] does not influence business.
It is a relatively short-term distraction. Our business model has not changed
and will not change as a result of the election because we've worked very
well with both the Clinton/Gore administration in Washington and the Bush
administration in Texas."
-- Mark Palmer, vice president of Enron Corporate Communications, Associated
Press

"The name of Enron may be unfamiliar in Japan, but it should not stay that
way for long.........Joseph Hirl, president of Enron Japan, says: "We don't
go in and try to destroy markets - we go in and create them."  Some of the
company's potential customers and business partners may still need to be
persuaded of that, but Enron has a large stock of experience to reassure
them".---Financial Times

WELCOME
New Hires ENA/EIM/EGM
ENA ) Lydia Atwood-Minter, Kenneth Thibodeaux, Lacye Trevino-Brymer
EGM )Humaira Badat, Daiquiri Lucas

Transfers to ENA/EIM/EGM
ENA ) Trinh Abrell, Terri Austin, Guillermo Balmaceda, Eric Booth, Robert
Chmielewski, Joyce Dorsey, Sharon Gonzales, Laura Gutierrez, Scott Healy,
Dawn Kenne, Robert Kraszewski, Sandra Morris, David Porter, Daniel Quezada,
Henry Quigley, Steven Rose, Felecia Russell, Mary Symes, Dan Williams,
Rosalinda Zermeno
EGM ) Braedi Craig, Scott Baukney, Samantha Davidson, David Loosley, John
Massey, Diana Monaghan, Adam Siegel, Ioannis Tzamouranis

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