I agree with Susan that for non-EOL trades concluded by our traders in NYC and Houston that the ENA ISDA should be used.  Ms. Zivic had called me yesterday asking similar questions and that is the answer I gave her (subject to approval by the tax people).

 -----Original Message-----
From: 	Sayre, Frank
Sent:	Tuesday, October 23, 2001 2:04 PM
To:	Taylor, Mark E (Legal)
Subject:	FW: Trades as ENA
Importance:	High

Mark - Here is more to help you with the UK gas, UK electricity, Brent and metals question I asked you yesterday by email.

 -----Original Message-----
From: 	Musch, Susan
Sent:	Tuesday, October 23, 2001 1:39 PM
To:	Sayre, Frank
Subject:	FW: Trades as ENA
Importance:	High

Frank,

FYI, attached is an e-mail from Janine Juggins who works in the Enron Europe Tax Dept.  I sent her an e-mail this morning trying to set up a call after the All Employee Meeting because I guessed that she had been looking at our issue from the London side.  She is going to call me at 4 p.m. Houston time this afternoon to discuss what she has found out to date.  Also, one of the attached e-mails suggests that all the London financially settled contracts will be entered into through EFET LLC (rather than ECTRIC) beginning 1 November.  I will confirm that with Janine when I talk with her this afternoon.

After reading the attached e-mail string, I still think it makes the most sense to have ENA enter into the transactions with the hedge funds (and thus have the transactions be entered into under the ENA ISDA).  This assumes, of course, that (1) the counterparties are US or Bermuda based hedge funds as we discussed yesterday, and (2) the New York or Houston office (rather than the London office) is executing and confirming these transactions.  We should confirm these assumptions with Robyn.  Do you see any reason why this approach would not work for non-EnronOnline transactions?  Also, based on the attached e-mail string, it looks like we're trying to set this up for both EnronOnline and  OTC contracts.  Were you aware of this?

I will give you a call shortly to discuss.

Best regards,
Susan

 -----Original Message-----
From: 	Juggins, Janine
Sent:	Tuesday, October 23, 2001 10:35 AM
To:	Musch, Susan
Cc:	Douglas, Stephen H.
Subject:	FW: Trades as ENA

I was lucky enough to still have the last mail !

 -----Original Message-----
From: 	Juggins, Janine
Sent:	28 September 2001 16:06
To:	White, Bill; Boyd, Justin; Dyk, Russell; Shackleton, Sara; Shankman, Jeffrey A.
Cc:	Abramo, Caroline; Zivic, Robyn; Diamond, Daniel; Radous, Paul; Lebrocq, Wendi; Sharma, Shifali; Nelson, Roderick
Subject:	RE: Trades as ENA

Are multiparty ISDAs a real option ? This seems like the simplest solution.

If not, I think we are back to the alternatives mentioned below.

With respect to the spread products I believe there are no spread books as such, each risk is laid off to the respective books. In this case, a good rule of thumb would be to have the spread product offered by ENA (thus it is ENA who contracts with the hedge fund) and then ENA lays off the relevant risk (in the WTI/Brent example ENA lays off Brent to ECTRIC). The only issue I see with this is offering the product when ENA is closed, as traders in London cannot act on behalf of ENA (or alternatively traders in Houston could work extended hours ?).

Russell, do the hedge funds operate only out of New York, or would they operate out of London or other European offices also ? I am just wondering how much of an issue the trading hours would be.

To clarify, using ENA as the contracting party for all global liquids products would risk exposing ENA to a UK tax presence (assuming that traders continue to be based in London). Since a significant proportion of Enron's total income is earned by ENA this would be an unacceptable risk (any UK tax paid cannot offset the US tax liability because of certain limitations that apply to Enron - thus most of the UK tax paid represents an additional cost).

Regards
Janine

 -----Original Message-----
From: 	White, Bill
Sent:	28 September 2001 13:22
To:	Boyd, Justin; Dyk, Russell; Shackleton, Sara; Shankman, Jeffrey A.
Cc:	Abramo, Caroline; Zivic, Robyn; Diamond, Daniel; Radous, Paul; Lebrocq, Wendi; Sharma, Shifali; Juggins, Janine; Nelson, Roderick
Subject:	RE: Trades as ENA

Justin,

Your solution appears to respond specifically to EOL related legal/credit issues.  However, isn't this only the tip of the iceberg?  What about non-EOL OTC trades conducted by ECTRIC traders with counterparties that want ENA as their counterparty.  From my time in London, it was always impressed upon me that there was a quagmire of additional tax and potential regulatory (SFA) issues.

Please comment.

Also, as a commercially efficient course of action, It has always seemed to me that we should attempt to "train" our couterparties to accept that ECTRIC is also a Enron Corp guaranteed sub (at least it was in the past, at their request) and somehow initially set up our contracts/ISDA to be inclusive of this vehicle.  Is this possible?  Otherwise, the permutations of various legal/credit/tax/regulatory hurdles for all manner of OTC trades becomes onerous.

Bill--

 -----Original Message-----
From: 	Boyd, Justin
Sent:	28 September 2001 05:43
To:	Dyk, Russell; Shackleton, Sara; White, Bill; Shankman, Jeffrey A.
Cc:	Abramo, Caroline; Zivic, Robyn; Diamond, Daniel; Radous, Paul; Lebrocq, Wendi; Sharma, Shifali; Juggins, Janine; Nelson, Roderick
Subject:	RE: Trades as ENA

Russell

My view would be to follow the novation route, i.e.

1.	C/P trades via EOL with ECTRIC
2.	Each trade is novated from ECTRIC to ENA, and treated as concluded under ENA ISDA Master
3.	ENA enters into back-to-back trade with ECTRIC

This does mean that the C/P must initially accept the European EOL GTCs, though if we set up a mechanism whereby EOL trades are automatically novated to ENA and treated as concluded under the ENA ISDA Master, this effectively cancels out the EOL GTCs.

Justin

 -----Original Message-----
From: 	Dyk, Russell
Sent:	27 September 2001 23:38
To:	Shackleton, Sara; Boyd, Justin; White, Bill; Shankman, Jeffrey A.
Cc:	Abramo, Caroline; Zivic, Robyn; Diamond, Daniel; Radous, Paul; Lebrocq, Wendi; Sharma, Shifali
Subject:	FW: Trades as ENA

Everyone -

Our hedge fund group needs clarification on the issue of doing Brent and other European product deals w/ our hedge fund counterparties and booking them back to ENA, the entity with which all the funds have ISDAs. We just did two WTI/Brent crude oil spreads today, one w/ very large volume, and expect to be doing more such deals.

This is more than just a legal issue; it's going to impact credit and our strategy to get the funds trading on EOL as well.

As we understand it, the main legal issue is that all the funds have an ISDA only w/ ENA and not w/ ECTRIC, so they (and I assume we) want all deals and legal exposure to be w/ ENA. To satisfy both parties' desires, all European product deals must be booked from ECTRIC to ENA. Sara, from speaking to you and from Justin's response below, it seems to me that the only legal hurdle we, the funds, and our traders might face is if no trader w/ ENA in Houston okays w/ the counterparty on ENA's behalf. However, there seem to be 2 other solutions (a netting agreement and novating) that get around this. As Sara knows, dealing on legal agreements w/ the funds can be onerous and time-consuming; negotiating more paperwork is not a viable option.

From the credit side, as we understand it, the issue w/ not back-to-backing the trades w/ ENA is that the credit exposure will not be aggregated to the funds' net position in Houston and, therefore, not monitored. In other words, any exposure not sitting w/ ENA will be invisible to credit. so daily margining, etc. will  be incorrect.

From the EnronOnline side, as we see it there are a couple of issues. EOL wants the funds to trade online; an increasing number of funds also want to trade online. However, they do not want to be restricted to trading products that are only US based. Also, they would like to see more arb spread products like a WTI/Brent crude oil spread online. If neither desire can be easily met b/c we need a separate ISDA w/ ECTRIC (which potentially means, as above, more onerous and time-consuming negotiation), then it will certainly be detrimental for volume and also foresake a certain momentum that we are gaining now.

The point has been raised that the funds could trade European products if credit in London cleared them and if they were willing then to accept the general terms and conditions that pop up on EOL. We can assure you that they will not accept this.

These are the issues as we see them from the origination side. There may be other issues that we're missing from the sides that I've mentioned as well as the trading/back office side.
Regards,
Russ

 -----Original Message-----
From: 	White, Bill
Sent:	Thursday, September 27, 2001 3:32 PM
To:	Dyk, Russell
Subject:	FW: Trades as ENA

 -----Original Message-----
From: 	Sharma, Shifali
Sent:	26 July 2001 08:21
To:	White, Bill
Subject:	FW: Trades as ENA

This is what we have heard from Legal and Tax so far.  We're trying to get a list of couterparties that currently will not trade with ECTRIC and only with ENA.

 -----Original Message-----
From: 	Boyd, Justin
Sent:	Thursday, July 26, 2001 2:10 AM
To:	Juggins, Janine; Beyhum, Maya
Cc:	Sharma, Shifali; Klar, Guenther; Sexton, Camille; Watt, Julie; Marsh, Jonathan
Subject:	RE: Trades as ENA

i agree - assuming you follow janine's approach, then no adverse UK regulatory issues will ensue

justin
 -----Original Message-----
From: 	Juggins, Janine
Sent:	25 July 2001 19:29
To:	Beyhum, Maya; Boyd, Justin
Cc:	Sharma, Shifali; Klar, Guenther; Sexton, Camille; Watt, Julie
Subject:	RE: Trades as ENA

I assume that these are financial transactions. The current approach is the right one in the circumstances - i.e trade between ECTRIC and ENA, trade between ENA and third party (eg Bank of America). It is important that the trader agreeing to the deal with the third party in the name of ENA is located in Houston (they cannot agree deals in the name of ENA when located in London).  The pricing should be such that ENA is compensated for taking the credit risk with respect to the third party but otherwise all the economics should be with ECTRIC.

To avoid booking the back to back trades, a possibility would be an agreement on netting to be entered into by ECTRIC, ENA and Bank of America if all parties can get comfortable with the legal position.

Another alternative sometimes put forward is that ECTRIC does the deal with Bank of America, the contract is then novated from ECTRIC to ENA, and ENA enters into a back to back swap on the same financial terms with ECTRIC.

Note that we are currently working on a project to enter into financials through EFET LLC (arranged by EEFT) instead of ECTRIC (effective 1 November).

Regards
Janine

 -----Original Message-----
From: 	Beyhum, Maya
Sent:	25 July 2001 14:13
To:	Juggins, Janine; Boyd, Justin
Cc:	Sharma, Shifali
Subject:	Trades as ENA

Hi

I am currently working in the London Risk group for Global Markets.

At the moment we have a number of counterparties who do not want to transact with ECTRIC but would like to do deals only with ENA (e.g. Bank of America). As a result, if a London trader wants to carry out a trade with Bank of America, he will do an internal trade with a trader in Houston and then book a trade between the Houston trader (who trades under ENA) and Bank Of America. The trades are then confirmed from the Houston office.

We were wondering about a couple of things:

Are there any tax/legal implications we should be aware of as a result of booking the trades as we do
Is there a way to approach these counterparties to get them to trade with ECTRIC (as this currently creates a lot of paperwork and administration)?

Thanks for your help
Maya


PROCESSING

26819	Reliant	Eff 2/02		10,000/d	Swap RP Vol		Processing

27496	Reliant	Ext to 2/28/02	30,000/d	San Juan to Blmfld	Processing

TENDERED

24198	Richardson	Eff 1/23/02		35,714/d	Add Blk #16		Tendered 1/22

25374	Oneok		Ext to 2/28/02	12,500/d	Panhdle to Beaver	EXECUTED

26758	Duke		Eff 1/30/02		40,000/d	Swap RP Vol		EXECUTED

27352	Sempra		Eff 2/02		21,500/d	Swap RP Vol		Re-Tendered 1/30

27377	Agave		Ext to 3/31/02	10,000/d	Pecos to W. Ward	Tendered 1/24

27420	WTG		Eff 2/02 Only		2,700/d	Panhdle to Winkler	EXECUTED

27723	Wasatch	Eff 3/02		1,200/d	Increase MDQ		Tendered 1/30

27803	BP		1/1/03-12/31/04	25,000/d	Blmfld to Needles	Tendered 1/28

27813	Sempra		2/1/02-2/28/02	15,000/d	Blmfld to Topock	EXECUTED

27819	PG&E		2/1/02-10/31/02	20,000/d	Blmfld to Calif	EXECUTED

27821	Cinergy	2/1-2/28/02		5,000/d	Cen Pool to Topock	Tendered 1/29


Kate I believe you can help us on all of these if you note any that I need to
get with someone else on please let me know right away.   Tomorrow is the 3rd
workday and we need to make our journal entries booking inter-co at the end
of the day.

Thanks for all your help.

Brooklyn, please look this file over and let me know right away if there is
anything I missed or need to add.


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Charlie Garner <http://football222.fantasy.sportsline.com/mp/elink?script=players&league=bige01&owner=14696.2&random=4994&key=1149&>, RB OAK - Russell Updated 11/08/01
Garner rushed for only 36 yards on seven carries in his first meeting with Seattle this year. Expect much better numbers this time against a shaky Seattle run defense.

Jerry Rice <http://football222.fantasy.sportsline.com/mp/elink?script=players&league=bige01&owner=14696.2&random=4994&key=1291&>, WR OAK - Neal/McKay Updated 11/08/01
Rice caught five passes for 91 yards and two TDs against the Seahawks earlier this year. Seattle may focus more closely on him this time, but he should still be good for at least one TD catch.!
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Brown caught three passes for 47 yards against the Seahawks in the teams' first meeting this year. He should perfom better if Seattle pays more attention to Jerry Rice (two TDs in first meeting) in this week's matchup.

Rich Gannon <http://football222.fantasy.sportsline.com/mp/elink?script=players&league=bige01&owner=14696.2&random=4994&key=1034&>, QB OAK - Martin Updated 11/08/01
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Staley has been a major disappointment this season, rushing for only 111 yards and one touchdown. He's losing carries to rookie Correll Buckhalter as well, and has become a very risky Fantasy player.

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Lewis had four receptions for 57 yards last weekend against Arizona, breaking a streak of three subpar games. He remains one of the nest Fantasy tight ends in the league, and is worth starting this week against Minnesota.

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Galloway had a big game against the N.Y. Giants last weekend, and he's worth starting this week against Atlanta. The Falcons have the worst defense in the league against the pass, so Galloway has a chance to put up some solid numbers.

Desmond Clark <http://football222.fantasy.sportsline.com/mp/elink?script=players&league=bige01&owner=14696.2&random=4994&key=133250&>, TE DEN - Free Agent Updated 11/08/01
Clark has been a respectable Fantasy TE this year, because Brian Griese has made good use of two tight end sets. He is definitely worth starting in an important AFC West game against the Chargers.

Jackie Harris <http://football222.fantasy.sportsline.com/mp/elink?script=players&league=bige01&owner=14696.2&random=4994&key=1368&>, TE DAL - Free Agent Updated 11/08/01
Harris had 49 yards receiving against the N.Y. Giants last weekend, but he's done nothing for Fantasy owners for the most part. Unless Dallas begins to incorporate him into the offense more, Harris isn't worth holding onto.

Raghib Ismail <http://football222.fantasy.sportsline.com/mp/elink?script=players&league=bige01&owner=14696.2&random=4994&key=1201&>, WR DAL - Free Agent Updated 11/08/01
Ismail has been inconsistent this season, but he may actually be worth starting this week. He'll face an Atlanta secondary ranked last in the league against the pass, so taking a gamble on him in deeper leagues is advisable.

Dwayne Carswell <http://football222.fantasy.sportsline.com/mp/elink?script=players&league=bige01&owner=14696.2&random=4994&key=1328&>, TE DEN - Free Agent Updated 11/08/01
Carswell has been a regular target for Brian Griese this year. he will definitely get some important looks in a divisional matchup with the Chargers.

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11/09
New England Patriots <http://football222.fantasy.sportsline.com/mp/elink?script=pro-summary&league=bige01&owner=14696.2&random=4994&pro_team=17&>
Claimed cornerback Ben Kelly off waivers from the Miami Dolphins <http://football222.fantasy.sportsline.com/mp/players?league=bige01&owner=14696.2&key=15>; placed offensive tackle Adrian Klemm on injured reserve with a leg injury.

Carolina Cobras (Arena Football)
Acquired fullback-linebacker Voncellies Allen from the Detroit Fury for future considerations.

11/08
Carolina Panthers <http://football222.fantasy.sportsline.com/mp/elink?script=pro-summary&league=bige01&owner=14696.2&random=4994&pro_team=5&>
Placed defensive end Jason Peter on injured reserve.

Minnesota Vikings <http://football222.fantasy.sportsline.com/mp/elink?script=pro-summary&league=bige01&owner=14696.2&random=4994&pro_team=16&>
Agreed to terms with cornerback Dale Carter.

11/07
NFL
Fined New York Jets <http://football222.fantasy.sportsline.com/mp/players?league=bige01&owner=14696.2&key=20> safety Damien Robinson $20,000 for his hit on New Orleans Saints <http://football222.fantasy.sportsline.com/mp/players?league=bige01&owner=14696.2&key=18> quarterback Aaron Brooks <http://football222.fantasy.sportsline.com/mp/players?league=bige01&owner=14696.2&key=133233> on November 4.

Arizona Cardinals <http://football222.fantasy.sportsline.com/mp/elink?script=pro-summary&league=bige01&owner=14696.2&random=4994&pro_team=1&>
Re-signed offensive tackle Jarvis Borum and defensive end Andy Bowers to the practice squad.

Buffalo Bills <http://football222.fantasy.sportsline.com/mp/elink?script=pro-summary&league=bige01&owner=14696.2&random=4994&pro_team=4&>
Placed safety Tony Driver on injured reserve with a knee injury; signed safety Pierson Prioleau.

Miami Dolphins <http://football222.fantasy.sportsline.com/mp/elink?script=pro-summary&league=bige01&owner=14696.2&random=4994&pro_team=15&>
Signed cornerback Zebbie Lethridge.

11/06
Carolina Panthers <http://football222.fantasy.sportsline.com/mp/elink?script=pro-summary&league=bige01&owner=14696.2&random=4994&pro_team=5&>
Placed defensive end Jason Peter and quarterback Dameyune Craig <http://football222.fantasy.sportsline.com/mp/players?league=bige01&owner=14696.2&key=12302> on injured reserve; waived offensive lineman Dwayne Ledford.

New Orleans Saints <http://football222.fantasy.sportsline.com/mp/elink?script=pro-summary&league=bige01&owner=14696.2&random=4994&pro_team=18&>
Fined offensive tackle Kyle Turley $25,000 for conduct detrimental to the team.

New York Jets <http://football222.fantasy.sportsline.com/mp/elink?script=pro-summary&league=bige01&owner=14696.2&random=4994&pro_team=20&>
Released defensive tackle Tom Barndt.

Iowa Barnstormers (Arena2)
Announced that director of ticketing and sales Michelle Mickelson has left the team to take a similar position with the Chicago Rush.

11/05
Montreal Alouettes (CFL)
Announced marketing vice president Claude Rochon will leave the organization after the Grey Cup.

View Transactions
  <http://ad.doubleclick.net/ad/N1549.sportsline.com/B44933.5;sz=1x1;ord=1?>
  <http://images.commissioner.com/images/eye_device_tiny.gif> Make Selection 	  <http://football222.fantasy.sportsline.com/mp/elink?script=home&league=bige01&owner=14696.2&random=4994&>

		  <http://images.commissioner.com/images/wizard/i.gif>	There are no League Transactions which meet the selected criteria.

To see all league transactions select "All", "All", "All Teams" from the Transactions, View page.

Breakdown Schedule
  <http://ad.doubleclick.net/ad/N1549.sportsline.com/B44933.5;sz=1x1;ord=1?>
Frank
Player	Pos	Points
Favre, Brett <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1028&week=08&>	QB	10.0
Hearst, Garrison <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1164&week=08&>	RB	9.0
Smith, Maurice <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=188183&week=08&>	RB	8.0
Schroeder, Bill <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1593&week=08&>	WR	0.0
Smith, Jimmy <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1236&week=08&>	WR	12.0
Thrash, James <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1859&week=08&>	WR	22.0
Akers, David <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1666&week=08&>	K	3.0
Titans <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=29&week=08&>	DT	8.0
  <http://images.commissioner.com/images/dot_clear.gif>
TOTAL	 	72.0
  <http://images.commissioner.com/images/dot_clear.gif>
Plummer, Jake <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1003&week=08&>	QB	16.0
Levens, Dorsey <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1107&week=08&>	RB	0.0
Bruce, Isaac <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1294&week=08&>	WR	0.0
Dillon, Corey <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1681&week=08&>	RB	0.0
Gary, Olandis <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=133291&week=08&>	RB	0.0
Mathis, Terance <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1189&week=08&>	WR	0.0

  <http://images.commissioner.com/images/dot_clear.gif>	at Russell
Player	Pos	Points
McNabb, Donovan <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=133361&week=08&>	QB	19.0
Garner, Charlie <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1149&week=08&>	RB	8.0
Holmes, Priest <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1645&week=08&>	RB	24.0
Harrison, Marvin <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1231&week=08&>	WR	3.0
Taylor, Travis <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=187399&week=08&>	WR	2.0
Gonzalez, Tony <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=12400&week=08&>	TE	6.0
Mare, Olindo <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1751&week=08&>	K	12.0
Ravens <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=3&week=08&>	DT	7.0
  <http://images.commissioner.com/images/dot_clear.gif>
TOTAL	 	81.0
  <http://images.commissioner.com/images/dot_clear.gif>
Flutie, Doug <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=12375&week=08&>	QB	1.0
Moss, Randy <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=12576&week=08&>	WR	0.0
Collins, Kerry <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1013&week=08&>	QB	23.0
Hilliard, Ike <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1785&week=08&>	WR	12.0
Huntley, Richard <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=1456&week=08&>	RB	5.0
White, Jamel <http://football222.fantasy.sportsline.com/mp/elink?script=/mp/players&league=bige01&owner=14696.2&random=4994&key=192822&week=08&>	RB	1.0

  <http://football222.fantasy.sportsline.com/mp/open_gif?splnid=30e6a654ca37f8af&league=bige01&owner=14696.2&email=9eb4d4d2e1a3f856124cc184ab07d1f73a5c23d37e8f491a&sport=football&vend=CBS%20SportsLine.com&product=mgmt&time=20011109&type=ereport&random=4994>
  _____

Copyright 2001 Commissioner.COM Inc and SportsLine.com Inc.
Your site can be reached from <http://fantasy.sportsline.com>

FB10SP


Unfortunately, I will miss your farewell at Slick Willie's on January 3rd.  I
am sorry that I won't be able to drink a beer with you as a send off, but
perhaps we can have one in London later in January as your welcome to
London.  I will be in Miami on January 3rd, hopefully celebrating an Oklahoma
win in the Orange Bowl earlier that day.  David found us tickets to the
game.  Not great seats, but they are in the stadium.  Hey, it's not UT, but
it should still be fun to go.

I will miss you and your wit and constructive cynisism in Houston.  But I
know that I can count on you to be just as vocal from London!  I plan to be
there at least quarterly in 2001, and will definitely welcome your first hand
observations on operational areas that may need attention.  Hopefully between
e:mail and voice mail we can definitely keep in touch.

Tell Ann that I hope that this will be a great adventure for her and the
whole family.  I think that it is a wonderful time in your children's lives
to give them this experience.    Have fun -- and set them straight!!


Chris--Attached is our requested volumes for 3/9 (intraday) and 3/10.

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

 - 03-09-00 Daily volsAM.xls


Confirmed for 10:30am on Wed Dec 13.  Your place our ours?

Thanks Sherri.

-----Original Message-----
From: Jeff.Skilling@enron.com [mailto:Jeff.Skilling@enron.com]
Sent: Thursday, December 07, 2000 3:30 PM
To: Neil Kelley
Subject: RE: Genesis Park

Dear Neil,

Sorry you two missed each other last night.  How would 10:30 a.m. on
Wednesday, December 13 work for you and Paul?  I have pencilled it on
Jeff's calendar at that time.  I'll hold it until I hear otherwise.  Thank
you.

Regards,
Sherri Sera
Assistant to Jeff Skilling
713.853.5984
713.646.8381 (fax)
sherri.sera@enron.com

Neil Kelley <NKelley@TQCap.com> on 12/07/2000 01:35:45 PM

To:   "'Jeff.Skilling@enron.com'" <Jeff.Skilling@enron.com>
cc:

Subject:  RE: Genesis Park

Thanks for the reply Sherri.  I missed Jeff last night at Paul's so we
didn't get a chance to talk.  Paul and I would appreciate the opportunity
to
set up a meeting before the holidays.  I know it's going to be tough given
everyone's tight schedules, but please find below some dates that work for
Paul and me:

Dec 11 afternoon; Dec 12 afternoon; Dec 13 10:30-2:00; Dec 15 afternoon;
Dec
18/19/21 all day

Please let me know if any of these dates work so we can set a firm time.
If
Jeff wants to combine with lunch, that would be great too.  Thanks/Neil.

-----Original Message-----
From: Jeff.Skilling@enron.com [mailto:Jeff.Skilling@enron.com]
Sent: Wednesday, December 06, 2000 10:50 AM
To: Neil Kelley
Subject: Re: Genesis Park

Dear Neil,

Jeff asked me to let you know that he will be at Paul Hobby's open house
this evening and hopes to see you there to discuss Genesis Park and Vitol.
In the event you two do not cross paths there, please let me know and we'll
see what we can do to schedule a meeting before the end of the year.

Regards,
Sherri Sera
Assistant to Jeff Skilling
713.853.5984
713.646.8381 (fax)
sherri.sera@enron.com

Neil Kelley <NKelley@TQCap.com> on 12/01/2000 02:51:21 PM

To:   "Jeff Skilling (E-mail)" <jeff.skilling@enron.com>
cc:

Subject:  Genesis Park

Jeff, I've been meaning to corner you at one of the YPO functions to spend
a
minute discussing a couple of topics.  First and foremost, I wanted to
introduce Genesis Park which is a "new economy" investment company that's
been recently founded here in Houston by Paul Hobby, Fred Lummis, Steve
Gibson, Peter Shaper, Bruce Herzog and myself.  Paul and I were hoping to
have an opportunity to spend 30 minutes with you in the next few weeks to
describe in person what we're all about.  And to be clear, we're not
looking
for Enron money, we are raising money from private individuals.  We've
already met with Jay Fitzgerald and Steve Horn to establish the
Enron/Genesis business relationship.

I also wanted to get your views on Enron's approach to oil trading and
whether the Vitol Group presented an opportunity.  Frankly, I think Vitol
is
an excellent acquisition target although the success they've enjoyed in the
last year or two will make it a bit more difficult.  They have an
unbelievable franchise, but they also have some fundamental weaknesses
which
could be exploited to Enron's benefit.  I'm shooting in the dark here but
hopefully it's worth some discussion.

If you can free some time during this busy holiday period to meet, it would
be greatly appreciated.  Paul and I could come to your office, or possibly
you could come to our "offices" over on Hermann Park.  We're buying 17
acres
on Hermann Park adjacent to the Park Lane Towers which we plan to develop
into a technology park.  For the time being, we are officing in a high tech
shed on the property!

Please let me know.  Thanks/Neil.


Start Date: 10/14/01; HourAhead hour: 15;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001101415.txt

Error retrieving HourAhead price data - process continuing...
---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/14/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_SRP2
  ENGY_TYPE: FIRM


---------------------- Forwarded by Eric Bass/HOU/ECT on 09/27/2000 09:54 AM
---------------------------

	Enron North America Corp.

	From:  Gary W Lamphier                           09/27/2000 09:52 AM

To: Eric Bass/HOU/ECT@ECT, Eric Groves/HOU/ECT@ECT, glamp32@aol.com
cc:
Subject: FW: montana fire

---------------------- Forwarded by Gary W Lamphier/HOU/ECT on 09/27/2000
09:51 AM ---------------------------

"Jason Tidwell" <jdwtidwell@net-llc.com> on 09/27/2000 09:32:04 AM
Please respond to <jdwtidwell@net-llc.com>
To: "Tracy Grinnell" <tracyg@Petplace.com>, "toni tatosian"
<bayrun@bayrunner.com>, "Stephen Jackson" <cfos200@ghg.net>, "stephen
grinnell" <comply@asiel-llc.com>, "Sergio Valenzuela" <svalenzu@usa.net>,
"scott wachsler" <wax@ghg.net>, "Phillip Love" <plove570@cs.com>, "Nate
Swerdlin" <natefsw@yahoo.com>, "John lecker" <jclecker@ghg.net>, "John Holt"
<TINKERHOLT@aol.com>, "greg tatosian" <greg.tatosian@merisol.com>, "Gary
Lamphier" <Gary.W.Lamphier@enron.com>, "David Jenness"
<djenness_2000@yahoo.com>
cc:
Subject: FW: montana fire

-----Original Message-----
From: Joe Gutierrez [mailto:jmgutierrez@net-llc.com]
Sent: Wednesday, September 27, 2000 8:08 AM
To: Jason Tidwell; Ware Schiefer; Pete Reynolds; Larry Watson; Joyce
Quinten; Joel Hall; Fernando Roca; Ed Chin; Dennis Novosad; Dave Craig;
Chris Sumrow; Ben Dazzio; Al Byington
Subject: FW: montana fire

-----Original Message-----
From: Michael Bettin [mailto:mbettin@uswest.net]
Sent: Tuesday, September 26, 2000 9:33 PM
To: Abbe and Don Ritchie; Ann & Tom Borer; Becky L Vandongen; Betty
Smithgall; Bronwyn Weygandt; Charlie Maffei; Jeff Hutton; Joe Gutierrez;
Kellie Buller; Kris Murphy; Linda Leaver; Maurine Jones; Monica
Rotermund; Pattie Buller; Richard Cwik; Steve Kitterer; Teri West; Vicki
Harder
Subject: montana fire

I received this email and wanted to share the photo.

Beautiful but sad.

This awsome picture was taken in the Bitterroot National Forest here in
Montana on August 6, 2000 by a fire behavior analyst from Fairbanks,
Alaska  by the name of John McColgan with a Digital camera.  Since he
was working  while he took the picture, he cannot sell or profit from it
so he  should  at  least be recognized as the photographer of this once
in a lifetime shot.

 - MontanaFire.jpg


Both of us are out of town right now.  I'm in Chicago and Kristi is in
Roundtop (outside of Brenham).  I'll let you know.  We may be spending the
night at the lake.  But I'm not sure.

DG

From:  Sheri Thomas
  01/16/2001 09:35 AM

To: kristi.giron@cfisd.net, Darron C Giron/HOU/ECT@ECT
cc:
Subject:

Hey!  Do you guys want to play bunko Sat night?   Let me know....

Sheri


Marty:  I'll call you after lunch.  Thanks.  Sara

	Marty_Oelmann@cargill.com
	05/26/2000 11:39 AM

		 To: sara.shackleton@enron.com
		 cc:
		 Subject: ISDA Between Enron and Cargill, Inc.

     Sara,
     I've been calling both your number and Kay Ellis' number and have not
     gotten answers or voicemail recordings.  I would like to speak to you
     to resolve the outstanding Set-off issue as soon as possible.  I will
     be in the office for the rest of the day today but will be out next
     Tuesday and Wednesday, returning Thursday, June 1st.  I hope we can
     get together today.

     I look forward to hearing from you and I will keep trying as well.
     Regards,
     Marty Oelmann


Can you print this for me?  Thanks.
---------------------- Forwarded by Sally Beck/HOU/ECT on 04/03/2001 09:51 AM
---------------------------

	Enron North America Corp.

	From:  General Announcement @ ENRON                           04/02/2001
11:53 PM

Sent by: General Announcement@ENRON
To: All Enron Worldwide
cc:
Subject: Enron's 2001 Goals

Our vision to become The World's Leading Company positions our company for
great success this year and beyond.  Our success is dependent on execution.
With that in mind, we are making Enron's 2001 corporate and business unit
goals available to employees.

Please take a few minutes to review our 2001 goals on Enron's intranet at
http://172.28.92.190/bowne/    We believe they will help you gain a better
understanding of our vision for the company and will inspire you to identify
innovative ways to help your organization and Enron achieve our objectives.
We have a lot to accomplish this year, and with your hard work and
dedication, we can realize another year of stellar performance.


Jeanie,

In light of the layoffs that are coming on Monday, if HR is looking for people to layoff, is it  possible to volunteer for the severence package.

Please call if you have any questions.

Tom Donohoe
3-7151


Diana is having Prebon look into this. It's not the kind of trade their desk
would be doing right now, so they're skeptical; should just be a couple
minutes.

Kate

Evelyn Metoyer@ENRON
12/01/2000 08:11 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: Missing Trade for 11-30-00

Any word yet on this trade?

   Kate Symes @ ECT                11/30/2000 05:57 PM

To: Evelyn Metoyer/Corp/Enron@ENRON
cc:

Subject: Re: Missing Trade for 11-30-00

Sean and Diana do not recognize this deal. They tried to check with the
brokers, but couldn't get a hold of anyone. I'll let you know first thing in
the morning whether or not this is good and what the deal number is.

Kate

Evelyn Metoyer@ENRON
11/30/2000 03:08 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Missing Trade for 11-30-00

Prebon sent over a confirmation for the following trade for Sean Crandall
Enron buys from Aquila January  Mid-C 25 mw at $300.00


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-----Original Message-----
From: Frank, Carole
Sent: Fri 9/21/2001 1:38 PM
To: Lagrasta, Fred; Grigsby, Mike; Ermis, Frank; Giron, Darron C.
Cc: Bike, Anne
Subject: FW: Carole Frank's Letter of Recommendation

Also, the letter should be addressed to Jeff Davis in HR for the Analyst Program.

Carole

 -----Original Message-----
From:   Frank, Carole
Sent:   Friday, September 21, 2001 1:32 PM
To:     Ermis, Frank; Lagrasta, Fred; Grigsby, Mike; Giron, Darron C.
Cc:     Bike, Anne
Subject:        Carole Frank's Letter of Recommendation

Thank you for agreeing to write a letter of recommending me for the Analyst Program.  I appreciate your time and opinion.  I have included a one page outline to help give you an idea of my accomplishments, job performance, and job development.  This outline is a guideline to help you.

Please let me know if you have any questions.  Thank you again.

Sincerely,

Carole Frank

<<Outline for Carole.doc>>


I took 1 hour for Dr.'s appt. on July 7th.   All other time is same.

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


Are you attending? This is a change- why?
---------------------- Forwarded by Richard Shapiro/NA/Enron on 06/27/2001
07:08 AM ---------------------------
From: Andrea Yowman/ENRON@enronXgate on 06/27/2001 02:22 AM
To: Cindy Olson/ENRON@enronXgate, Dan Leff/HOU/EES@EES, Fernley
Dyson/Enron@EUEnronXGate, Richard Causey/ENRON@enronXgate, Rod
Hayslett/ENRON@enronXgate, Sally Beck/ENRON@enronXgate, Steven J
Kean/NA/Enron@Enron, Paula Rieker/ENRON@enronXgate, Richard
Shapiro/NA/Enron@Enron
cc: Wes Colwell/ENRON@enronXgate

Subject: VP Commercial Support PRC Sub-Committee

MESSAGE SENT ON BEHALF OF WES COLWELL:

You have been selected to participate on the VP Commercial Support PRC
Sub-Committee to cross calibrate and rate the Commercial Support Vice
Presidents.  This PRC will be held on July 20, 2001 in EB 49C1.  You will be
responsible for representing Vice Presidents in your functional area and/or
business unit.  The attached file details specifically, the employees we are
requesting that you represent.

Two weeks prior to the meeting, you will receive the following information to
facilitate your preparation.

1. Employee Profile
2. Consolidated Feedback
3. List of Accomplishments
4. Functional vs Business Unit Ranking Differences

You should discuss the performance of these Vice Presidents with their
manager and resolve any issues based on feedback received prior to attending
this meeting.  The results of this committee will be reviewed and approved by
the VP PRC Committee on July 23, 2001.

If you have any questions or concerns, please don't hesitate to contact me at
ext. 37249.

Wes Colwell


I still have a job.....they are working on a deal to sell the Power & Gas Trading desk to a big financial company.  We will see, we should know in a few days.   Are you coming in this weekend for Scotty's Christmas party?

Hope to see you soon.

Late
DB

 -----Original Message-----
From: 	Joe Ebert <jebert@eadslink.com>@ENRON
Sent:	Tuesday, November 27, 2001 8:11 AM
To:	Baughman Jr., Don
Subject:	Hello

Don,

Just wanted to see how the deer hunting went and how Turkey day was for you.

How are things at Enron - are you secure or walking on egg shells?

Talk to you later!

Joe


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 03/13/2000
05:33 PM ---------------------------

	From:  William Kelly                           03/13/2000 01:43 PM

To: Phillip K Allen/HOU/ECT@ECT, Steve Jackson/HOU/ECT@ECT
cc:
Subject:

We have room EB3014 from 3 - 4 pm on Wednesday.

WK


We need these locations set up to trade financial products for now.  We will
be trading physical at Carthage but firmness is not a problem there.  Agua
Dulce firmness may be a problem for physical, but as of now we are only going
to trade it financially.

Dale Neuner   05/01/2000 09:43 AM

To: Eric Bass/HOU/ECT@ECT
cc: Melba Lozano/HOU/ECT@ECT
Subject: Re: New Product

Since the Product Type description is "US Gas Basis", it is implied that the
swap is against last day NYMEX and some othe MONTHYL CONTRACT PRICE, which is
why we specify GD/D, so the viewer knows its a NYMEX last day vs. Gas Daily
Average price. Take a look at the Indexes used in the other Basis swaps that
are out there and you'll see what I mean.
I'm a little concerned about the request for Agua Dulce and Carthage. If
memory serves me, Elsa tried to push these through earlier and it was
determined that gas at these delivery points was interruptable. Interruptable
gas is NOT offered on EOL. PLease check with Elsa on this.

	Enron Capital & Trade Resources Corp.

	From:  Eric Bass                           05/01/2000 09:02 AM

To: Dale Neuner/HOU/ECT@ECT
cc: Melba Lozano/HOU/ECT@ECT, Todd Richardson/Corp/Enron@Enron
Subject: New Product

Dale,

On the new Gas Daily product that you are setting up, I think it would be a
good idea to have a Nymex reference in the short description.  Something
like, US Gas Daily NX GD/D HSC.

In addtion, we need two new index locations set up, Carthage hub and Agua
Dulce hub.  Please contact Todd Richardson for further details on these.

Thanks for your help.


I think we're talking about a Senior Legal Specialist position.  Do you have
the posting that we used last year (when we hired Susan Flynn)?  I think it
would have gone out in July or August.

To: Mark - ECT Legal Taylor/HOU/ECT@ECT
cc:
Subject: Position Description

Please review and make any changes.


OK,

Hopefully this got your attention.  I just wanted to confirm my vacation days
with you.  I have April 13, 14 and 17 , May 5 and August 10.  Please let me
know if these are the same as on your calendar.  Thanks.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/09/2000
09:58 PM ---------------------------

Lenos Trigeorgis <lenos@ucy.ac.cy> on 02/09/2000 03:29:59 PM
To: lenos@rogroup.com
cc: amicaliz@sda.uni-bocconi.it
Subject: NY March Real Options Conference

Please find attached the final program for an exciting conference on "REAL
OPTIONS VALUATION IN THE NEW ECONOMY: Internet/E-commerce,
R&D/Pharmaceuticals, Energy." The conference, organised in New York City
March 13-15 by the Real Options Group and co-sponsored by Ernst & Young
LLP, is addressed to a corporate audience.

The chairman of the conference is Prof. Michael J. Brennan of UCLA who will
deliver the opening address, and the keynote speaker is Prof. Stewart C.
Myers of MIT.  Many of the world/s thought leaders in real options
analysis, along with prominent experts from many leading corporations will
also share their ideas and experiences.

Please note that the deadline for hotel registration is February 21 (see
the attached brochure for hotel details) and conference fees increase by
20% for those registering after March 1. The (full) conference brochure and
on-line conference registration are available at our website www.rogroup.com

We hope that you will be able to participate and would appreciate it if you
could also communicate this announcement among other interested colleagues.

In fact, it would be most helpful to us and would be greatly appreciated, if
you could send me (also cc. to amicaliz@sda.uni-bocconi.it) a list of 5-10
colleagues to whom we can send the electronic version of the brochure.

Best wishes,

Lenos Trigeorgis
President, Real Options Group

 - ROGNYConference.pdf

Lenos Trigeorgis
Professor of Finance
University of Cyprus
Dept of Business
75 Kallipoleos, PO Box 20537
CY 1678 Nicosia CYPRUS

Tel: +357 2 892261
Fax:        339063


Sara,
It was nice talking to you and thank you for your  order.
The cost will be 287.95-10%=259.16+35.50 shipping  cmes to a grand total of
294.66. I will follow shortly with a list of dazzling  pinots. Let me know if
there is a favorite out there that your trying to  find.
Thank you Michael Rapp (707) 433-  3200??


Mark Ashbrook left me a message.  I am sure that he is seeking feedback on
his interview.  Do you want me to talk to him.  If not, his phone number is
773 935 5101.

Thanks
Hunter


----- Forwarded by Jeff Dasovich/NA/Enron on 01/03/2001 11:18 AM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	01/03/2001 11:13 AM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc: Alan Comnes/PDX/ECT@ECT, Angela Schwarz/HOU/EES@EES, Beverly
Aden/HOU/EES@EES, Bill Votaw/HOU/EES@EES, Brenda Barreda/HOU/EES@EES, Carol
Moffett/HOU/EES@EES, Cathy Corbin/HOU/EES@EES, Chris H Foster/HOU/ECT@ECT,
Christina Liscano/HOU/EES@EES, Christopher F Calger/PDX/ECT@ECT, Craig H
Sutter/HOU/EES@EES, Dan Leff/HOU/EES@EES, Debora Whitehead/HOU/EES@EES,
Dennis Benevides/HOU/EES@EES, Don Black/HOU/EES@EES, Dorothy
Youngblood/HOU/ECT@ECT, Douglas Huth/HOU/EES@EES, Edward
Sacks/Corp/Enron@ENRON, Eric Melvin/HOU/EES@EES, Erika Dupre/HOU/EES@EES,
Evan Hughes/HOU/EES@EES, Fran Deltoro/HOU/EES@EES, Frank W
Vickers/HOU/ECT@ECT, Gayle W Muench/HOU/EES@EES, Ginger
Dernehl/NA/Enron@ENRON, Gordon Savage/HOU/EES@EES, Harold G
Buchanan/HOU/EES@EES, Harry Kingerski/NA/Enron@ENRON, Iris Waser/HOU/EES@EES,
James D Steffes/NA/Enron@ENRON, James W Lewis/HOU/EES@EES, James
Wright/Western Region/The Bentley Company@Exchange, Jeff Messina/HOU/EES@EES,
Jeremy Blachman/HOU/EES@EES, Jess Hewitt/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Kathy
Bass/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Ken Gustafson/HOU/EES@EES, Kevin
Hughes/HOU/EES@EES, Leasa Lopez/HOU/EES@EES, Leticia Botello/HOU/EES@EES,
Mark S Muller/HOU/EES@EES, Marsha Suggs/HOU/EES@EES, Marty Sunde/HOU/EES@EES,
Meredith M Eggleston/HOU/EES@EES, Michael Etringer/HOU/ECT@ECT, Michael
Mann/HOU/EES@EES, Michelle D Cisneros/HOU/ECT@ECT, Mike M Smith/HOU/EES@EES,
mpalmer@enron.com, Neil Bresnan/HOU/EES@EES, Neil Hong/HOU/EES@EES, Paul
Kaufman/PDX/ECT@ECT, Paula Warren/HOU/EES@EES, Richard L
Zdunkewicz/HOU/EES@EES, Richard Leibert/HOU/EES@EES, Richard
Shapiro/NA/Enron@ENRON, Rita Hennessy/NA/Enron@ENRON, Robert
Badeer/HOU/ECT@ECT, Roger Yang/SFO/EES@EES, Rosalinda Tijerina/HOU/EES@EES,
Sandra McCubbin/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Scott
Gahn/HOU/EES@EES, Scott Stoness/HOU/EES@EES, Sharon Dick/HOU/EES@EES,
skean@enron.com, Susan J Mara/NA/Enron@ENRON, Tanya Leslie/HOU/EES@EES, Tasha
Lair/HOU/EES@EES, Ted Murphy/HOU/ECT@ECT, Terri Greenlee/NA/Enron@ENRON, Tim
Belden/HOU/ECT@ECT, Tony Spruiell/HOU/EES@EES, Vicki Sharp/HOU/EES@EES,
Vladimir Gorny/HOU/ECT@ECT, Wanda Curry/HOU/EES@EES, William S
Bradford/HOU/ECT@ECT
		 Subject: Update--Day  of California PUC Hearings

The Commission closed the hearings last night at 7 PM.
The Commission refused all attempts by the utilities'--and there were
several--to get information on "ending the rate freeze" into the hearing
record.
The Commission is attempting to get a draft decision out at 10 AM today (PST).
If it gets out, there will be oral argument at 12:30 today (PST), with final
decision issued tomorrow at the Commission's regularly scheduled business
meeting.
If it does not get out, there will be no oral argument, and the Commission
will issue its final decision tomorrow at its regularly scheduled business
meeting.
Anything could happen but it appears at this point that the decision will
only address the need for a rate increase (rumors flyling furiously regarding
how high the increase will be), with "rate freeze" issues put off for another
day in the near future.
Yesterday, the Governor of California joined Edison's suit against FERC
calling for region-wide, hard price caps.


<http://www.pmaconference.com/imagesemail/id000007/dice001.gif>	  <http://www.pmaconference.com/imagesemail/id000007/001-008.jpg>
  <http://www.pmaconference.com/imagesemail/id000007/001-0010.jpg>
Managing the Risks of Retail Operations
February 20-22, 2002 - San Diego, CA
Click Here to Download a Complete Conference Brochure <http://www.pmaconference.com/mr3_pma.pdf>
  <http://www.pmaconference.com/imagesemail/id000007/001-001.jpg>
The Portfolio of Risks
Al Fortunato, Partner, ANDERSEN

Establishing a Risk-Resistant Organization and Culture
James Eicher, Senior Manager, ANDERSEN

Reducing Campaign Management Risks
Lou Jahn, Director Business Planning,
FIRSTENERGY SERVICES

Managing Supply Risk
Mark Cory, Senior Manager, ANDERSEN

Modeling and Managing Market Behavior Risk
J.C. Whorton, Senior Manager, and
Grant Ferris, Manager, ANDERSEN

Dealing with Revenue Cycle Risks
Sandeep Bhatia, Senior Manager, ANDERSEN

Understanding and Mitigating Settlement Risk
Tom Petersen, Principal, and
Craig Lobdell, Manager, ANDERSEN

Coping with Technology Risk
Robert Brnilovich, Partner, and
Donny Joe, Manager, ANDERSEN

Integration of Retail Risk Management with Corporate Risk Management
David Johnson, Partner, ANDERSEN Infocast's Managing the Risks of Retail Operations is a comprehensive program designed to provide you with the in-depth knowledge and understanding you'll need to successfully identify and manage the full range of risks encountered in energy commodity retailing. The goal is to give you a step-by-step approach to formulating a risk management policy and management framework, and to provide practical insights into the implementation of the processes, technology and culture needed to manage the business. With individual, panel, and case study presentations, the course systematically examines what it takes to identify, assess and manage the risks of the retail energy business.

  <http://www.pmaconference.com/imagesemail/id000007/001-002.jpg>

Includes the workshop:

Theory and Techniques of Portfolio Risk Management

Your Workshop Instructors:
J.C. Whorton, Senior Manager, and
Grant Farris, Manager, ANDERSEN

  <http://www.pmaconference.com/imagesemail/id000007/001-003.gif>
Click Here to Download a Complete Conference Brochure <http://www.pmaconference.com/mr3_pma.pdf>
Visit our Subscription Center to edit <http://ccprod.roving.com/roving/d.jsp?p=oo&m=1000838503237&ea=shelley.corman@enron.com> your interests or unsubscribe <http://ccprod.roving.com/roving/d.jsp?p=oo&m=1000838503237&ea=shelley.corman@enron.com>.
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<<RED.Escrow Agreement Enron Salmon LLC.DOC>>  <<ENA Salmon Escrow
Disbursement Instrns.DOC>>

Ladies and Gentlemen:

We have enclosed drafts of the following documents:

1.  Escrow Agreement marked to reflect changes from the draft previously
circulated; and
2.  Escrow Disbursement Instruction Letter.

Please review and advise of any comments.  Note that Citibank has not seen
or approved the enclosed forms, although the Escrow Agreement is identical
to one previously acceptable to them.  I have contacted Citibank about the
escrow, and they are to get back to me with a contact and fee information.

Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>

Enclosures: 137032vR3/2
  139328v1

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

 - RED.Escrow Agreement Enron Salmon LLC.DOC
 - ENA Salmon Escrow Disbursement Instrns.DOC


Ina:  could you please get me access to ECT Trading on the O drive?  Let me
know if you need anything.  Thanks.


piazzet@wharton.upenn.edu


Let me know how your Drs appt goes.  I'll have to let you know later about Fri.  -- got some scheduling things up in the air.

-----Original Message-----
From: Jewell, Cyndi M [mailto:cjewell@bcm.tmc.edu]
Sent: Wednesday, March 20, 2002 10:55 AM
To: Corman, Shelley
Subject: Re: Can you go to lunch today?

I'd love to go but an at the doctor's office now and then have a March of
Dimes lunch for our Baylor team captains. How about Friday?
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Do you have a place to stay on the 1st?  And how do the rest of us  get back
to the airport if you're not coming back until a day later?  Maybe there's a
limo or bus that goes from Beverly Hills to Burbank.  Also, how and when are
you arriving on the 24th?  I remember that it's just a few minutes from the
time we arrive.  Scott told me some time ago, but I can't find any notes on
that that I wrote down at the time.

-----Original Message-----
From: Cameron Sellers [mailto:cameron@perfect.com]
Sent: Friday, December 22, 2000 12:22 PM
To: 'eldon@interx.net'
Cc: 'Mom'; 'Prentice (Berkeley)'; 'Jeff.Dasovich@enron.com'
Subject: RE: Reservation Confirmation

I want the hotel for the night of the 31st.  Thank you.  Scott and I have
flights leaving on the 30th and returning on the 2nd.  Yipeeee!!!

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:  Eldon Sellers [mailto:eldon@interx.net]
Sent: Thursday, December 21, 2000 3:10 PM
To: Cameron Sellers (E-mail); Cameron Sellers; Eldon (E-mail); Eldon
Sellers (E-mail); Nancy Sellers (E-mail); Jeffrey Dasovich (E-mail);
Prentice Sellers (E-mail); Prentice Sellers (E-mail 2); Scott Laughlin
(E-mail)
Subject: FW: Reservation Confirmation

<< File:  Reservation Confirmation.txt >> This is what I received from the
Westwood Marquis which has undergone a
renovation.  (I replied and told them to correct the address.)  Let me know
if this is OK.  I don't know if  we can find a cheaper place, but if you
think this rate is too high I can try.  Also, I made reservations to go to
Burbank on Dec. 31 using Southwest Airlines and leaving from Oakland at
10:40 am, arriving at 11:40.  Returning on Jan. 1 at 8:15 pm and arriving at
9:20.  However, I learned from Cameron that all but your mother and I will
be going on Dec. 30 so I  will cancel that part of the reservation.  I don't
know  what your plans are for returning so I will not be making any  other
reservations unless I hear from you.  I originally made the returning
reservation at the time I did so that if we came back to the house on Monday
to watch football games and  play games we would have some time to do that.
If we don't do that we could possibly get an earlier flight back.  Your
mother doesn't want to come  back too late, so your mother and I couldn't
possibly watch a movie if Hef has one planned for later, but you might
consider that possibility.  Our check-in time at the W is 3:00 pm,  possibly
earlier.  I assume you got my message left on the answering  machine that
everyone  has been invited to the party.

-----Original Message-----
From:  whotels@whotels.com [mailto:whotels@whotels.com]
Sent: Wednesday, December 20, 2000 6:08 PM
To: ELDON@interx.net
Subject: Reservation Confirmation


Dan-

At  your convenience, please review the attached docs with changes proposed
by Yates; at least one item requires further discussion between us.

Thanks!

Dan


OK.

	Lola Willis@ENRON
	10/31/2000 01:32 PM

		 To: Mark Taylor/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Sheri
Thomas/HOU/ECT@ECT, Frank L Davis/HOU/ECT@ECT
		 cc: Taffy Milligan/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT
		 Subject: Profiles Manager Meeting

Your presence is requested at a meeting RE: Profiles Manager

Date                                                        November 2,2000

Time                                                         3:30 PM

Location                                                  EB38c2

Thanks
Lola
3-6890


Hi Gerald.

Here it is.............

Cathy

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Subject: Fw: china
Date: Wed, 28 Mar 2001 16:49:45 -0600
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We own them. Here's the info Baby!!!
?
Lovin you......
?
Missin you......
?
Jeff
----- Original Message -----
From: Donna Jacobsen
To: jgillaspieci3@netzero.net
Sent: Wednesday, March 28, 2001 5:24 PM
Subject: china

?

?JEFF  GILLASPIE????????????????????????  GILLASPIE/JEFFREY
A????????????????
?P.O. BOX  7134?????????????????????????  CLARKE/CATHLEEN
M??????????????????
?HOUSTON TX?  77007????????????????????????????????????????????????????????

?MAR 28 2001???  ITIN????????? AGENT  CODE:1KN7DJ???? CUSTOMER CODE:ILLAS-JEF

?06 JUN  01 - WEDNESDAY
? NORTHWST AIR FLIGHT:  6007???????????????  CLASS: Q???? CONFIRMED
? LV:?  HOUSTON/INTCON??????????????????????  1200N??????????????  NONSTOP???
? ARR:  TOKYO/NARITA?????????????????????????  335P??????????????  MILES: 6642
? AIRCRAFT: BOEING 777  JET????????????????????????????????  FLT. TIME: 13:35
?  LUNCH-DINNER???????????????????????????????????????????????????

?07 JUN 01 - THURSDAY
? NORTHWST AIR FLIGHT:??  11???????????????  CLASS: Q???? CONFIRMED
? LV:?  TOKYO/NARITA?????????????????????????  635P??????????????  NONSTOP???
? ARR:  SHANGHAI/PUDON???????????????????????  835P??????????????  MILES: 1119
? AIRCRAFT: BOEING 747  JET????????????????????????????????  FLT. TIME:? 3:00
?  DINNER?????????????????????????????????????????????????????????

?16 JUN 01 - SATURDAY
? NORTHWST AIR FLIGHT:  5985???????????????  CLASS: Q???? CONFIRMED
? LV:?  SHANGHAI/PUDON???????????????????????  550P??????????????  NONSTOP???
? ARR: SAN  FRANCISCO????????????????????????  105P??????????????  MILES: 6151
? AIRCRAFT: BOEING 747  JET????????????????????????????????  FLT. TIME: 10:15
?  DINNER-BREAKFAST???????????????????????????????????????????????

? NORTHWST AIR FLIGHT:  6442???????????????  CLASS: Q???? CONFIRMED
? LV:? SAN  FRANCISCO????????????????????????  300P??????????????  NONSTOP???
? ARR:  HOUSTON/INTCON???????????????????????  831P??????????????  MILES: 1635
? AIRCRAFT: BOEING 757  JET????????????????????????????????  FLT. TIME:? 3:31
?  SNACK??????????????????????????  SEAT-14D14E????????????????????

?**RATES SUBJECT TO CHANGE UNTIL BOOKED AND  TICKETED**????????????????
?FARE QUOTED $812.60? PER PERSON. RATE INCLUDES ALL TAXES AND  FEES????
?THANK YOU FOR CALLING TRAVEL  INC.????????????????????????????????????
?A GOVERNMENT ISSUED PHOTO ID IS REQUIRED TO BOARD ALL  FLIGHTS.???????


I was hoping to find out the team colors before odering practice shirts.  Do we know what they are?

LawyerCLR@aol.com on 02/13/2001 03:48:45 PM
To:	hale@equuscap.com, killelea@pogoproducing.com, tracy.geaccone@enron.com, debharp@earthlink.net, barbiehorowitz@hotmail.com, jprzybyl@fkp.com, quallsjd@prodigy.net, rbhale@msn.com, killelea@minutemaid.com
cc:

Subject:	GO TIGERS!

What a great group of kids! All 11 kids showed and gave a great effort.

3 items to address:

      1. Practice each Saturday has now been changed to 9am not 9:30. Same
Location. Please show this Saturday at 9 so that we can start on time.

      2. Please fill out and bring your child's medical release this
Saturday if you haven't already.

      3. Please contact Tracy (Team Mom) about ordering a practice jersey if
she doesn't contact you first.

P.S. I know Tracy is planning a fun team get together for the parents and
kids soon so if anyone has suggestions, now is the time!

       Thanks everyone, Cliff Lee Roberts


We parked 25,000 dt/day on the 25th-27th (deal 225515) on CNG and we will be
taking it out during April (deal 225534).  ENA will pay CNG $.02 x 75,000 dt
= $1,500.00 in April.

Please let me know if you have questions.


Here is the schedule

Thursday 7th Dec.

10:30  Tracee Bersani
12:30  Gautam Gupta
1:30  Nathan Will
2:30  Eric Bass
3:30  Steve Jacobellis
4:30  Virawan Yawapongsiri
5:30  Kenneth Shulklapper

Friday 8th Dec.

9:00  Ying Lin
10:00  John Howton

Monday 11th Dec.

8:00  Seth Hurwitz

Need response from IIan Caplan and Jennifer Newbrough as to availability.  I
will contact Ricardo to schedule a phone interview.

Remember to send me the following as soon as possible, but definately before
we meet;

Education
Brief job history (non-ene)
Rotations at Enron and to whom you reported
Current job description (projects underway, etc.)
Accomplishments this year (include 1st half)
Name of supervisor that can comment best on your year

Thanks


Today, Enron hosted a conference call to give investors a current overview of the company. Here's an update of what we discussed during the call.

We told investors that we're doing everything we can to protect their interests and to regain their confidence. Our focus remains on our credit quality, balance sheet and liquidity, which are essential for our continued success and expansion of our wholesale businesses.

It took more than a few weeks to get where we are today. Here's a snapshot of significant events that led to our current situation:

-- In hindsight, we definitely made some very bad investments in our non-core businesses over the past several years. Those include investments in Azurix, India and Brazil. They have performed far worse that we could have ever imagined when we made these investments;

-- Because of these bad investments, we've become over-leveraged as a company. The negative impact of those investments was exacerbated through the extensive use of debt capital both on and off our balance sheet;

-- We also entered into related party transactions that led to a loss of investor confidence, which has been very damaging;

-- We've been criticized for our lack of transparency and our hard-to-understand financial and operating disclosures; and

-- On top of it all, we discovered errors in our financial statements, as discussed in our 8-K filing last week, that required a restatement of previously reported earnings.

We've taken a new look at our businesses and have separated them into three areas: core businesses, non-core businesses, and businesses under review.

Core Businesses

Our core businesses remain strong and consistent sources of significant earnings and cash flows for the company. They're our competitive advantage. These include:

-- Natural gas pipeline businesses;

-- Gas and power businesses in North America and Europe;

-- Retail businesses in North America and Europe; and

-- Coal businesses in North America and Europe.

The events of the past few weeks have had a temporary negative impact on our projected fourth quarter profitability. It's too early to tell at this time what impact this might have on our operating results. We are considering these actions now so that we can quickly return to normal business in 2002.

I also remain optimistic that the actions we've taken over the past couple of weeks have addressed our customer and counterparty credit and liquidity concerns. According to our business unit leaders, we have definitely seen improvement in our counterparty relationships.

Non-Core Businesses

Our non-core businesses include our global assets group and our broadband division. We have invested more than $8 billion in these businesses, and the return from them has been dismal.

We have an aggressive program in place to exit these businesses and expect that the sale of these businesses will generate billions of dollars in cash that we can use to repay debt and reinvest in our core businesses. We already have more than $800 million in assets contracted for sale this year. They include CEG Rio, a gas LDC in Brazil; EcoElectrica, a power plant and LNG receiving terminal in Puerto Rico; and asset sales of offshore oil and gas properties in India. The approximately $2.9 billion Portland General sale is also on target to close in late 2002 pending regulatory approvals.

Businesses Under Review

These businesses are comprised of those operations outside our power and gas wholesale businesses and include global and industrial markets. While several of these businesses have very strong future prospects, we need to determine if their capital requirements and near-term growth prospects are sufficient enough in terms of earnings and cash generation.

Reviewing our businesses this way will help determine where we need to make reductions to our work force. More information will follow as soon as it becomes available.

Credit Rating/10-Q Filing

We continue to meet regularly with credit rating agencies and believe that our liquidity enhancements and scheduled asset sales will strengthen our balance sheet and maintain our investment grade credit rating. Our current credit ratings by the three major rating agencies are as follows:

-- Moody's at Baa3       "Under Review for Further Downgrade"

-- Fitch at BBB-             "Evolving Status"

-- S&P at BBB-              "CreditWatch Negative"

We also discussed our existing financial vehicles, including Osprey, Marlin and Yosemite, in further detail. We told investors that we will file our 10-Q five days late due to our current activities. It will be filed on Nov. 19.

We will continue to have updates with investors over the coming weeks as well as our frequent updates with you. The full transcript of our conference call will be filed with the Securities and Exchange Commission in the next few days. It will also be posted on our web site at www.enron.com/corp/investors under "SEC Filings."

In connection with the proposed transactions, Dynegy and Enron will file a joint proxy statement/prospectus with the Securities and Exchange Commission. Investors and security holders are urged to carefully read the joint proxy statement/prospectus regarding the proposed transactions when it becomes available, because it will contain important information. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus (when it is available) and other documents containing information about Dynegy and Enron, without charge, at the SEC's web site at www.sec.gov. Copies of the joint proxy statement/prospectus and the SEC filings that will be incorporated by reference in the joint proxy statement/prospectus may also be obtained for free by directing a request to either: Investor Relations, Dynegy Inc., 1000 Louisiana, Suite 5800, Houston, TX 77002, Phone: (713) 507-6466, Fax: (713) 767-6652; or Investor Relations, Enron Corp., Enron Building, 1400 Smith Street, Houston, TX 77002, Phone: (713) 853-3956, Fax: (713) 646-3302.

In addition, the identity of the persons who, under SEC rules, may be considered "participants in the solicitation" of Dynegy and Enron shareholders in connection with the proposed transactions, and any description of their direct or indirect interests, by security holdings or otherwise, are available in an SEC filing under Schedule 14A made by each of Dynegy and Enron.


---------------------- Forwarded by Mary Hain/HOU/ECT on 11/10/2000 09:20 AM
---------------------------
________________________

To: Christian Yoder/HOU/ECT@ECT, steve.c.hall@enron.com, Richard Sanders,
Susan J Mara/SFO/EES@EES, Mona L Petrochko/NA/Enron@Enron,
jdasovic@ees.enron.com, Paul Kaufman/PDX/ECT@ECT, James D
Steffes/NA/Enron@Enron, Joe Hartsoe@Enron, Sarah Novosel/Corp/Enron@ENRON,
James E Keller/HOU/EES@EES, Mike D Smith/HOU/EES@EES, Harry
Kingerski/HOU/EES@EES, Dennis Benevides, Tim Belden/HOU/ECT@ECT, Robert
Badeer/HOU/ECT@ECT, Jeff Richter/HOU/ECT@ECT, Alan Comnes/PDX/ECT@ECT, Steve
Kean, Richard Shapiro, Tim Heizenrader/PDX/ECT@ECT
cc: carrrn@bracepatt.com, dwatkiss@bracepatt.com
From: Mary Hain/HOU/ECT
Date: 11/09/2000 05:19:03 PM
Subject: Comments on FERC November 1 order

For purposes of our discussions, Alan and I have put together an outline of
issues raised in the FERC meeting today that we might consider putting in our
comments to FERC.  Our written comments would also include the issues we have
already raised in our white paper and our oral comments at FERC.  Of course
to the extent we have discussed things in our white paper we could simply
cite the paper.  Given the potentially long list of issues to be addressed, I
haved left a voice mail asking Seabron if he is available to help Alan.


Hi Kristi

Hope things are going well. I got your email address from Andrea, who also told me you'd moved to Pittsburgh.  Enron implosion is in full progress and I think this week, we will be left with 30% of our original size.  On the gas power and trading, there are numerous groups who are trying to work out other opportunities, but we will have to wait and see.

Keep me posted on what you are upto.

Harry


We'd love for ya'll to come visit!  My family vacation is in July, so we are
planning on comig to Houston around the 4th of July and leaving July 18, so
either the first part of our trip or the last we have to hook up.  Armin's
dying for Cafe Adobe!!! And a relaxing vacation.  The rest of the year we
are here, until Christmas...I want to spend that back in the states
(hopefully).

I have to tell you what Angus is doing..he cracks me up!  He loves to
sunbathe, back when we were at the apartment and the sun would come out, he
would ask to go outside and sit in a chair on the front porch (of course he
would wait until I put a cushion in it).  Well here at the office the sun
comes in the south window most all day, he loves it.  But he has a problem
in the morning when it is only shining on the west wall.  so each day he
goes over to the wall and starts tapping on it with his foot!  Like he can
bring the sunshine down on the floor to him!!! Then he stares at me to fix
it!!!  He's so entertaining!

So who were you partying with on Tues?  What's Greg McClendon up to these
days?  Does he ever do anything with you or Julie anymore?  I never hear
about him.

Well, back to work for a while!
Later..connie


As I promised this morning at the executive committee meeting, below are some
talking points for your use.

Overall message:  the market is working, regulation is not.

In California, peak demand rose by 10% over the last 4 years while new
capacity grew by only 2%.  But, as you would expect, the market responded by
proposing 8,000MW of new generation - - more than enough to offset the peak
demand growth.  The regulatory process, at both the state and local level,
has failed to site this new generation.  The problem is regulation, not
deregulation.

When San Diego customers began experiencing the effects of higher prices,
Enron responded with a fixed price which would have shielded San Diego
customers from price volatility and provided prices below their current
summer levels (Enron's price was about $55/MWH).  After publication of
Enron's offer, nine other companies made offers.  Again, the market responded
where regulation failed.  San Diego has not accepted any of these offers
because of regulatory/legislative restrictions on its ability to buy outside
of the PX (i.e. the spot market).

In markets where siting is easier, suppliers have moved to build additional
generation.  Enron built 3 plants in response to the 1998 price spikes.
Those plants were planned, sited and built in less that 12 months - - in time
for the summer of 1999.  Where regulatory hurdles are lower, the market
responds.

The solution to current pricing and reliability issues is more competition
not reregulation.  Policy makers should:

Open the transmission grid so that power can get from where it is to where it
is needed.

Expedite interconnection of new generation.

Expedite siting of new facilities.

Give customers a choice, so that they have better access to demand side
solutions.

Also attached is a more detailed discussion of California, prepared by Jeff
Dasovich of our San Francisco office.


We are doing a gag gift exchange.  Usually it is pretty good, so try and bring something.

 -----Original Message-----
From: 	Tycholiz, Barry
Sent:	Tuesday, November 13, 2001 3:55 PM
To:	Whitt, Mark
Subject:	RE: Christmas Party

what date is this planned for. BT

 -----Original Message-----
From: 	Whitt, Mark
Sent:	Tuesday, November 13, 2001 2:32 PM
To:	Tycholiz, Barry
Subject:	RE: Christmas Party

We would love to have you and Kim.  Might even be some snow by then.  Just let me know if you can make it so they can get a good head count.

 -----Original Message-----
From: 	Tycholiz, Barry
Sent:	Tuesday, November 13, 2001 12:51 PM
To:	Whitt, Mark
Subject:	RE: Christmas Party

I think we should still do this, and I may join you guys.

BT

Dates please.

 -----Original Message-----
From: 	Whitt, Mark
Sent:	Tuesday, November 13, 2001 1:41 PM
To:	Tycholiz, Barry
Subject:	Christmas Party

FYI

We are planning on joining Crestone for a combined Denver Christmas party.  The cost for our share will be approximately $1,000.  I know it is not cheap, but I think it is an important signal and morale booster which is critical at this time.  We have a long way to go in this deal.


As many of you are aware, over the last few weeks the Kiodex transaction has
changed such that it no longer includes the sale of EnergyDesk.   The new
transaction structure is limited to the Kiodex/EOL Strategic Relationship and
performance warrants.  Attached is the final version of the non-binding
Kiodex LOI which was signed November 21, 2000.  Our goal is to finalize the
documents and close by year end.  If anyone has any questions or comments
please feel free to give me a call at the numbers listed below.  Thank you.

Drew Ries
Manager, e-Commerce Ventures
Enron Net Works
1400 Smith Street, EB2735a
Houston, TX  77002

(713) 345-6075 (work)
(713) 569-6131 (mobile)


Jennifer,

Please let me know if you want/are able to attend.

Universal-EMS Conference Call
Date/Time:  Wednesday, December 13 9:30 AM CST, Call-in number to be forwarded
Purpose: Introduce EMS and Universal

Attendees
Enron:
Mike Horning, Director, Origination, EMS
Colleen Koenig, Analyst, Global Strategic Sourcing

Universal:
Daphne Harvey, Sr. Director, Strategic Sourcing (Media and Post Production)


Darren,
Just let me know when you have time and we will set it up.
B

 -----Original Message-----
From: 	Cavanaugh, Darren
Sent:	Wednesday, September 19, 2001 2:34 PM
To:	Williams III, Bill
Subject:	Sit in

Hey Bill,

      Been thinking that I understand the aspects of Real Time trading on a more general scale but I am interested in leaning more of the specifics.  I would like to sit in with some of the people at your desk to pick some of that stuff up.  If you don't mind I should have some time to do this in the next few weeks.  Let me know.

Thanks,
Darren


This is to remind you that various anonymous reporting facilities are
available for you to report violations of Company policy and suspected
criminal conduct by any officer, employee, or agent of Enron relating to the
performance of his or her duties.  These reporting facilities are also
available for your questions, messages, comments, and suggestions.

 Any policy violation or criminal conduct may be reported by letter, e-mail,
or voice mail, as set forth below, describing the suspected violation or
criminal conduct with as much detail as possible to allow Enron to conduct an
investigation of the reported matter.

1. Letters should be sent to the Confidential Post Office Box:

Enron Compliance Officer
Confidential - Conduct of Business Affairs
P. O. Box 1188
Houston, Texas  77251-1188

2. E-mails should be sent to the Office of the Chairman,s e-mail box:
Employees with Enron e-mail can access this box by sending an e-mail to the
Office of the Chairman.  Simply type &Office of the Chairman8 in the address
box, type your message, and send.  Your message will be completely
anonymous.  If, however, you copy your message and e-mail it to someone else,
the copy will not be anonymous.

3. Voice mail messages should be left with the Office of the Chairman voice
mail box.  You can access the Office of the Chairman voice mail box at (713)
853-7294.  If you call from your extension or an outside line, your message
will be completely anonymous.  If, however, you access the voice mail box
while you are in the Enron voice mail system, your message will not be
anonymous.

 You may, but are not required to, identify yourself.  If you would like to
identify yourself, please submit your name and phone number with your letter
or message.  All anonymously reported matters will be investigated and acted
upon in the same manner as those that contain signatures.

 We take great pride in ensuring that Enron is a great place to work.  We
encourage each employee to continue to conduct Enron's business affairs in
accordance with all applicable laws and in a moral and honest manner.


plz call when u have a minute.  thx, jeff  415.505.6633


The gloves are off and the courtship begins - what's your work address?
Valentine goodies are on the way.  I'm officially in love... with you!

To: Chris Germany/HOU/ECT@ECT
cc: Matthew B Fleming/HOU/EES@EES
Subject: Re: Flight Info

Well Chris, you know what the problem is?  You never bought me that $25,000
diamond ring you kept promising me.  You're all talk.

To: Matthew B Fleming/HOU/EES@EES
cc: Heidi Griffith/DUB/EES@EES
Subject: Re: Flight Info

She doesn't know that I exist,  now that I'm single again and all.  I should
be able to lose 30 or 40 pounds by then.

Matthew B Fleming@EES
01/31/2001 02:13 PM
To: Chris Germany/HOU/ECT@ECT
cc: Heidi Griffith/DUB/EES@EES
Subject: Flight Info

Could you please pick her up and entertain her that weekend, I will be too
busy.  Sorry for the inconvenience, I owe you one.
---------------------- Forwarded by Matthew B Fleming/HOU/EES on 01/31/2001
02:11 PM ---------------------------

	Enron Energy Services

	From:  Heidi Griffith                           01/31/2001 02:08 PM
	Phone No: (614)718-6340

To: Matthew B Fleming/HOU/EES@EES
cc:
Subject: Flight Info

Well the tickets have been purchased.  We arrive at the Hobby, TX airport at
10:45 am on Friday, Mar. 16 flight # 1451.  We will be departing on Monday,
March 19 at 10:55 am.  You have to promise me that we can eat at Lupe's
Friday night!!


-----Original Message-----
From: John Riggins [mailto:jriggins@hill-wilkinson.com]
Sent: Friday, January 19, 2001 10:46 AM
To: Ryan Smith; Rusty Glover; Plemons Mike; Mike Plemons; Mike Eggleton;
Justin Biggs; Greg Barberee; Eric Fischer; Brady Jones; Archer Brent;
jlriggin@aol.com; Becky Riggins; gdfarley1@aol.com;
cwright3400@yahoo.com
Subject: FW: Heavy LOAD

John Riggins
Project Engineer
Hill & Wilkinson, Ltd.
800 Klein Road
Plano, TX 75074
214.507.1947

-----Original Message-----
From: Swanson Terry [mailto:tswanson@hill-wilkinson.com]
Sent: Friday, January 19, 2001 9:30 AM
To: Everyone
Subject: FW:Heavy LOAD

This is why our superintendents do not drive cars >>>>>>>>>>> one of
them might try this.

?

?
 - HOMEDEPOT1.DOC


-----Original Message-----
From: 	Slone, Jeanie
Sent:	Tuesday, December 11, 2001 8:36 AM
To:	Lavorato, John
Subject:	FW:

 -----Original Message-----
From: 	Slone, Jeanie
Sent:	Monday, November 26, 2001 11:03 AM
To:	Butler, Pam
Cc:	Oxley, David
Subject:


This article from NYTimes.com
has been sent to you by eric.benson@enron.com.

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Signs of Abuse Seen by Judge in Gas Case

By RICHARD A. OPPEL Jr.

Internal documents submitted as evidence that the El Paso
Corporation artificially inflated natural gas prices in California
suggest that the company did indeed intend to manipulate prices.

http://www.nytimes.com/2001/05/16/business/16PASO.html?ex=991029385&ei=1&en=0e
ff9dd844146986

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help@nytimes.com.

Copyright 2001 The New York Times Company


To confirm our conversation, can you add "Credit Derivatives" as a new
products to my database.  We will need the same drop downs as the other
produsts (gas trading, financial trading, etc.).

Thanks!


Joe, do you have a copy of the proposed RTO bylaws or what ever is
available.  I appreciate the summary but would like to see what could be done
to get a Board that is appointed independently also.

	Joe Connor@ENRON
	10/13/2000 12:56 PM

		 To: James D Steffes/NA/Enron@Enron
		 cc: Christi L Nicolay/HOU/ECT@ECT, Dan Staines/HOU/ECT@ECT, Daniel
Allegretti/HOU/EES@EES, Donna Fulton/Corp/Enron@ENRON, Janine
Migden/DUB/EES@EES, Jeff Brown/NA/Enron@ENRON, Jeff Dasovich/NA/Enron@ENRON,
Joe Hartsoe/Corp/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON, Mary
Hain/HOU/ECT@ECT, Paul Kaufman/PDX/ECT@ECT, Richard Ingersoll/HOU/ECT@ECT,
Richard Shapiro/NA/Enron@ENRON, Robin Kittel/HOU/EES@EES, Ron
McNamara/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Steve
Montovano/DUB/EES@EES, Steve Walton/HOU/ECT@ECT, Steven J
Kean/NA/Enron@ENRON, Susan J Mara/SFO/EES@EES, Thane
Twiggs/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tom Chapman/HOU/ECT@ECT, Tom
Delaney/Corp/Enron@ENRON, Tom Hoatson/HOU/EES@EES
		 Subject: Re: Enron Response to October 15 RTO Filings/Southeastern RTO

Attached are the FERC talking points for the Southeastern RTO filing.  If you
have any questions, please call me (205-567-5433)


Sounds fine to me.

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Wednesday, June 27, 2001 4:58 PM
To:	Presto, Kevin M.; Miller, Don; Zisman, Stuart
Subject:	DRAFT PRESS RELEASE: Duke Acquires New Albany Peaker

FYI - in case you didn't see this already.

It seems harmless.
---------------------- Forwarded by Louise Kitchen/HOU/ECT on 06/27/2001 04:56 PM ---------------------------
From:	Eric Thode/ENRON@enronXgate on 06/27/2001 03:27 PM
To:	Mark Frevert/ENRON@enronXgate, Greg Whalley/ENRON@enronXgate, John J Lavorato/ENRON@enronXgate, Louise Kitchen/HOU/ECT@ECT, Mark Palmer/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, David Leboe/ENRON@enronXgate
cc:

Subject:	DRAFT PRESS RELEASE:  Duke Acquires New Albany Peaker

Attached is a draft press release regarding Duke's purchase of our New Albany facility.  Duke expects to release late in the day on Thursday, June 28.  They will be meeting with the employees on Friday.

It is not much different than Cinergy's or AES's releases when they purchased peakers.  Please forward all comments to me at your earliest convenience.  While I am out of the office, I am accessing e-mail and voice mail or you can page me at 877-576-8750.  Thanks.

Eric

 - release na draft 1.doc << File: release na draft 1.doc >>