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Please include this information with Scott's


CORRECTION TO SUPER SATURDAY DATES

Two dates in our prior Save the Dates memo were incorrect.  The dates to save
for the first Super Saturday weekend are Friday, October 27th and Saturday,
October 28th.  The correct dates for the last Super Saturday weekend are
Friday, December 8th and Saturday, December 9th.

We apologize for any inconvenience.


Hi Warren,

I'm going to forward a couple of emails relating to the Delta transaction.
Please print and set up like you did the Northwestern stuff.

Thanks,

Kay

PS  I'm on a long conference call, but feel free to walk in.

---------------------- Forwarded by Kay Mann/Corp/Enron on 04/19/2001 11:31
AM ---------------------------

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 04/19/2001 11:07:41 AM
To: "'kay.mann@enron.com'" <kay.mann@enron.com>
cc: "Keffer, John" <JKeffer@KSLAW.com>

Subject: FW: Salmon Security Agreement and Inter-Company Note

Kay:

Attached are copies of the Salmon promissory note to PPL and the Security
Agreement.  Greg says a Financing Statement is coming from Freshfields.
Greg asked for an ENA letter similar to the GE letter to be signed at escrow
funding agreeing to the execution of these forms at closing.  I will
duplicate the GE letter.  I'm still waiting on his and Isabel's response to
our proposal re the escrow.  Greg advises that the additional language on
the Turbine Contract should be coming shortly.

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

-----Original Message-----
From: Lang, Gregory F. [mailto:gregorylang@paulhastings.com]
Sent: Thursday, April 19, 2001 11:03 AM
To: 'ccampbell@kslaw.com'
Cc: 'iparker@freshfields.com'; 'lisa.obrien@freshfields.com'
Subject: Salmon Security Agreement and Inter-Company Note

"paulhastings.com" made the following annotations on 04/19/01 12:03:14
----------------------------------------------------------------------------
--
NEW E-MAIL ADDRESSES AT PAUL, HASTINGS, JANOFSKY & WALKER LLP

We have changed our e-mail address.  Our new domain name is
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two examples: janesmith@paulhastings.com and danjones@paulhastings.com.
If you have any questions, please contact us at noc@paulhastings.com.

============================================================================
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received this in error, please contact the sender and delete the
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 - ATT537097.txt
 - ATT537098.htm
 - Salmon Security Agreement.doc
 - Salmon Intercompany Note.DOC


judy.townsend@enron.com, To unsubscribe send a blank mailto:leave-enerfaxtext-14816594U@relay.netatlantic.com

Enerfax Daily
NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE
              Tuesday, January 15 2002 No. 905
Visit: http://www.enerfax.com/ or for Oil Prices & News
http://www.enerfaxgold.com/
PHYSICAL NATURAL GAS PRICES
Gulf/Eastern Region
| Agua Dulce               | 2.15  |
| ANR SE                   | 2.25  |
| Carthage TG              | 2.20  |
| Chicago Citygate         | 2.25  |
| Columbia Gulf Onshore    | 2.30  |
| Dominion South Point     | 2.40  |
| Henry Hub                | 2.32  |
| Houston Ship Channel     | 2.28  |
| Katy Hub                 | 2.22  |
| NGPL LA Pool             | 2.21  |
| NGPL - Midcontinent      | 2.18  |
| NGPL STX                 | 2.16  |
| NGPL TX/OK               | 2.18  |
| NNG Demarc.              | 2.19  |
| Niagara                  | 2.47  |
| Sonat Tier 1             | 2.25  |
| TCO IPP Pool             | 2.39  |
| Tetco ELa                | 2.30  |
| Tetco M-3                | 2.70  |
| Tetco STX                | 2.17  |
| TGP Zone 0               | 2.18  |
| TGP Zone 1 (500 Leg)     | 2.25  |
| TGT Zone SL              | 2.31  |
| New York Citygate        | 2.71  |
| Transco Station 65       | 2.40  |
| Transco Zone 6 (NY)      | 2.72  |
| Trunk ELa                | 2.24  |
| Western Region
| California Border        | 2.16  |
| El Paso Keystone         | 2.05  |
| El Paso San Juan-Blanco  | 2.05  |
| Waha Hub                 | 2.12  |
| Canadian/Rockies Region
| Nova/Aeco (C$/gig)       | 2.86  |
| Dawn Hub/Union           | 2.32  |
| Northwest Stanfield      | 2.04  |
| Wyoming Pool             | 1.97  |
| Opal/Kern River          | 1.97  |
| PGT-Malin                | 2.12  |
| Sumas                    | 2.04  |
           Flow Date 1/15
-------------------------------------------------------------

NATURAL GAS FUTURES
Henry Hub
12 Month Strip  2.5345 +0.0247
18 Month Strip  2.6547 +0.0205
| Month | High  |  Low  | Close | Change |
| FEB   | 2.325 | 2.200 | 2.250 | +0.046 |
| MAR   | 2.300 | 2.190 | 2.240 | +0.037 |
| APR   | 2.330 | 2.230 | 2.277 | +0.027 |
| MAY   | 2.390 | 2.290 | 2.348 | +0.026 |
| JUN   | 2.450 | 2.380 | 2.413 | +0.023 |
| JUL   | 2.525 | 2.460 | 2.483 | +0.023 |
| AUG   | 2.570 | 2.510 | 2.528 | +0.023 |
| SEP   | 2.570 | 2.510 | 2.532 | +0.022 |
| OCT   | 2.585 | 2.525 | 2.557 | +0.022 |
| NOV   | 2.785 | 2.735 | 2.762 | +0.017 |
| DEC   | 3.000 | 2.925 | 2.967 | +0.017 |
| JAN   | 3.080 | 3.020 | 3.057 | +0.013 |
-------------------------------------------------------------
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-------------------------------------------------------------
Natural Gas Futures End Up on Short-Covering

    Natural gas futures for February delivery on the NYMEX  settled up
$0.046 yesterday at $2.25 per MMBtu on funds short covering. The March
contract gained $0.037 to $2.24 per MMBtu. Funds held an all-time high
number of net short positions, 47,104 on January 8th, according to the
CFTC report. Mild weather and huge levels of natural gas in storage
battled with short-covering rallies to keep the market trading in a $0.15
range over the past week, a trend likely to continue until fundamentals
change. Support has been constant at $2.14 per MMBtu, a level that has
been tested in October, the end of November and last week. Expect
resistance to be tested tosday at $2.38 and maybe $2.48 with technical
support at $2.23, $2.14 and then $1.88. In the longer term, declining rig
counts point to natural gas production levels dropping and supply
tightening as the storage excess is worked off this summer. Last week, the
total rig count was 856 compared with 1,121 a year ago. A 25% reduction in
exploration and development programs is expected this
year as companies cut back capital budgets in response to the lower
prices. Natural gas for next day delivery across the US and Canada was
generally flat to up $0.05 Friday. Natural gas for next day delivery at
the Henry hub gained $0.02 to $2.32 per MMBtu.
-------------------------------------------------------------
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-------------------------------------------------------------
Today's Power Bulletins
 * Judge Says PG&E Not Provided Enough Information About Environmental
Impact of Transferring Hydroelectric System Assets to Parent Corporation
 * Enron Attorney Bennett Decries Washington Scandal Mindset
 * Arch Coal Prep Plant Recognized for Safety Excellence
 * Acumentrics and NiSource Reach Agreement for Stock Investment,
Exclusive Distribution and Purchase of Fuel Cells
 * Allegheny Energy Announces Exchange Offer for 7.8% Notes Due 2011
 * MidAmerican Energy Achieves 3 Billion kWh  in Illinois Retail Sales
 * S&P Says Record $115.4 Billion in Corporate Defaults in 2001
 * Former Enron Senior Executives Launch New Company, Celeren Corporation
 * West Spot Power Prices Rise on Weather and Generation Curtailments
-------------------------------------------------------------
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-------------------------------------------------------------
 Lawmaker Accuses Enron Executives of Insider Trading

    Rep John Dingell of Michigan, the top Democrat on the House Energy and
Commerce Committee, claims to have pretty strong evidence of insider
trading as well as false accounting in the collapse of Enron. He also says
that there is clear evidence of failure to file honest and correct annual
reports required by the SEC. Dingell says that false accounting appears to
be a very major problem, and it appears that both Enron and Andersen were
involved. Andersen, Enron's accounting firm, has admitted that it
destroyed a number of documents. Some Enron shareholders have filed a
lawsuit accusing Enron executives and directors of unlawful insider
trading and misleading the investing public. The Justice Department is
also investigating. Dingell is one of 188 House of Representative members
who received campaign contributions from Enron.
-------------------------------------------------------------
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-------------------------------------------------------------
Natural Gas NYMEX Volume
02FEB   25,267
02MAR   14,388
02APR   12,274
02MAY    4,922
02JUN    1,828
02JLY    2,212
02AUG      810
02SEP    1,533
02OCT    2,759
02NOV    1,151
02DEC      721
03JAN    2,188
03FEB      751
03MAR    1,148
03APR      574
03MAY      267
03JUN      579
03JLY      322
03AUG      293
03SEP      242
03OCT      468
03NOV      151
03DEC      151
04JAN       61
-------------------------------------------------------------
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--------------------------------------------------------------
Aquila and NiSource Form Alliance

    Aquila and NiSource have formed alliance to capitalize on market
opportunities and deliver comprehensive energy solutions by leveraging
their combined capabilities and knowledge. NiSource says the alliance will
allow both companies to focus on their individual core businesses and
combine their complementary expertise to leverage the value of NiSource's
asset base and Aquila's merchant capabilities to create greater value,
with less associated risk, than either company could achieve on its own.
NiSource's operations are focused in the high-demand energy corridor that
stretches from the Gulf of Mexico to New England. This region represents
30% of the nation's population and accounts for 40% of the its energy
consumption. NiSource is the 3rd-largest natural gas distributor in North
America, the 2nd-largest holder of natural gas storage and the largest
nataural gas producer in the Appalachian basin. The company also owns and
operates 16,500 of interstate pipeline and electric generation assets in
northern Indiana.
-------------------------------------------------------------
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FINANCIAL ENGINEERING ASSOCIATES Inc.
http://www.fea.com/?cId=17
main phone number:  1 510-548-6200
email address: info@fea.com
-------------------------------------------------------------
PHYSICAL POWER PRICES
|            | High  |  Low  | Average |
|            | $/MWh | $/MWh |  $/MWh  |
| Cinergy    | 18.50 | 16.50 |  17.10  |
| ECAR       | 22.00 | 16.50 |  18.45  |
| ERCOT      | 17.50 | 17.25 |  17.30  |
| Entergy    | 19.00 | 18.05 |  18.35  |
| TVA        | 23.75 | 21.70 |  22.30  |
| ComEd      | 19.60 | 18.00 |  18.50  |
| Nepool     | 30.50 | 29.75 |  30.05  |
| PJM West   | 23.50 | 22.00 |  23.25  |
| Main       | 19.60 | 18.05 |  18.35  |
| MAPP       | 20.50 | 18.00 |  19.10  |
| Palo Verde | 26.00 | 22.00 |  23.90  |
| Mid C      | 21.25 | 18.75 |  20.00  |
| COB        | 22.50 | 22.00 |  22.25  |
| 4 Corners  | 23.00 | 22.50 |  22.75  |
| Mead       | 25.75 | 22.75 |  23.70  |
| NP 15      | 25.75 | 22.50 |  23.95  |
| SP 15      | 26.25 | 23.00 |  24.50  |
            Power Delivered 1/15
-------------------------------------------------------------
Employees Letter Warns of Enron's Collapse

    An unidentified employee sent a letter to Enron Chairman Kenneth Lay
last summer that alleged the company would implode in a wave of accounting
scandals unless the it changed its accounting practices. The employee also
met with Lay to provide proof. Two congressmen have demanded all records
relating to a review of the employee's allegations, made by outside
attorneys. The employee said that a veil of secrecy surrounded Enron's
partnerships, which moved large amounts of debt off the company's balance
sheets. According to the letter, several senior Enron employees
consistently questioned the company's accounting practices to senior Enron
officials, including CEO Skilling. Enron has hired an outside law firm to
review the charges, but allegedly told the attorneys not to second-guess
accounting advice and not to analyze the questioned transactions in
detail. The law firms review concluded that the questions raised by the
employee did not merit further investigation by independent counsel and
auditors, according to the congressmen. But the review noted that there
was a serious risk of adverse publicity and litigation from the
partnership transactions.
-------------------------------------------------------------
Allegheny Energy Supply Company, Salt River Project (SRP) and Sempra
Energy
Resources announce Open Season for proposed Desert Crossing Gas Storage
and
Transportation System. Open Season for customers interested in capacity
begins Jan. 10, 2002 and extends through Feb. 8, 2002.  For information,
visit www.desert-crossing.com
-------------------------------------------------------------
Todays Gas Bulletins
 * Enron Has Retained About 800 Trading and Marketing Staff, Including
Paying 75 Traders $50 Million to Stay on Board
 * Proponents of Multibillion Dollar Natural Gas Pipeline to Alberta, from
Alaska's Prudhoe Bay via Beaufort Sea, to File Plan for Project this Week
 * KPMG Censored by SEC for Auditing Conflict
 * Anadarko Says 4th Quarter Earnings to Fall Short of Wall Street
Estimates
 * Senator Joseph Lieberman Says Andersen Could Face Criminal Indictment
 * Royce Ramsay Named Vice President of Williams' Western Natural Gas
Pipelines
 * OGE Energy 4th Quarter 2001 Earnings Release Conference Call Scheduled
for
January 29th at 8 AM CST
 * Strategic Research Institute to Host 3rd Annual Coalbed and Coal Mine
Methane
Conference March 25th & 26th at Marriott Denver Southeast
------------------------------------------------------------
 Ziff Energy Group presents
Gas Storage 2002
Redefining the Fundamentals:
Is Gas Still in the Storage Game?
Power Drives Storage
Will the recession affect plant and storage development?
Will record high volumes in storage further depress gas prices?
Is it possible to mitigate storage risk while dealing with year-round
price
volatility?
Plus
Two Important Workshops
Calpine Corporation
Hear what the Power Generator wants from the storage industry
Bruce Bernard
Learn from the expert how to mitigate storage price risk in the 2002 gas
marketplace
February 6 & 7
Houston
Four Season Hotel
1300 Lamar Street
Register Today for this Important Conference
Call 1-800-853-6252

Email: gasconference@ziffenergy.com

Visit: www.ziffenergyconferences.com

-------------------------------------------------------------
Oil Majors Seeking Foothold in Power and Natural Gas Sector

    Oil majors like ExxonMobil and ChevronTexaco are looking to expand
their power assets in developing countries and create a stronger presence
in the deregulated North American power market. But, antitrust regulations
could present a road block to more consolidation. Shell and BP have
already entered the growing natural gas and power markets, as backers of
Intercontinental Exchange. Among the majors, Shell has made the most
inroads into the power market with its 68% share of Intergen, a joint
venture with Bechtel. However, Shell has the smallest presence in the
natural gas market of any of the big integrated oil companies. Shell says
it is interested in strengthening its exploration and extraction
activities, and especially its natural gas business, which could also
include acquisitions. In the past 3 years, Shell has only made $6 billion
worth of acquisitions, far less than some competitors. Concerns over
antitrust regulations in the US has led big oil companies to increase
their power assets in developing countries, where demand growth will be
the strongest. ExxonMobil has 6000 MW of power generation capabilities in
China, and is considering other projects in Europe, Asia, Africa and
Central America. An expected switch from oil to cleaner burning fuels has
also provided an incentive for big oil to invest in wind and solar power.
BP is the biggest solar power producer in the world and Shell is actively
involved in the sector. BP Solar has manufacturing plants in the US,
Spain, Australia and India and a 20% market share worldwide. Shell
launched its first commercial US wind power station last year and has
committed to spend up to $1 billion by 2006 on renewables.
-------------------------------------------------------------
 R. W. Beck is an engineering and management consulting firm serving
utilities, developers, financiers and governments worldwide.  Founded in
1942, we help our clients face energy market challenges by providing:
Portfolio Analysis to improve diversification and risk-adjusted
performance
of energy assets.
Risk Control services to help reduce the probability of losses.
Systems and Facilities services to identify, design and implement
effective
risk management systems.
Training to improve your ability to identify and manage tactical and
strategic risks.
Please visit our web site at http://www.rwbeck.com
-------------------------------------------------------------
POWER FUTURES
| Month |   COB   | Change  |   PV    | Change |
| FEB   |  22.00  |  +0.00  |  23.00  | +0.50  |
| MAR   |  20.50  |  -0.50  |  23.00  | +1.00  |
| APR   |  20.90  |  -0.10  |  24.25  | +0.25  |
| MAY   |  19.00  |  -1.00  |  25.25  | +0.25  |
| JUN   |  20.50  |  -0.50  |  30.00  | +0.00  |
| JUL   |  30.50  |  +1.50  |  40.00  | +0.00  |
| AUG   |  10.50  |  +1.00  |  44.25  | +0.00  |
| SEP   |  35.00  |  +0.00  |  35.00  | +0.00  |
| OCT   |  27.00  |  +1.00  |  27.50  | +1.25  |
| NOV   |  26.50  |  +1.50  |  27.00  | +0.75  |
| DEC   |  27.50  |  +0.50  |  27.50  | +1.25  |
| JAN   |  27.00  |  +0.00  |  27.00  | +1.00  |
| Month | Entergy | Change  | Cinergy | Change |
| FEB   |  19.50  |  +0.00  |  21.30  | +0.00  |
| MAR   |  20.30  |  +0.00  |  22.15  | +0.00  |
| APR   |  20.30  |  +0.00  |  22.15  | +0.00  |
| MAY   |  23.50  |  +0.00  |  25.50  | +0.00  |
| JUN   |  29.50  |  +0.00  |  32.25  | +0.00  |
| JUL   |  38.25  |  +0.00  |  42.50  | +0.00  |
| AUG   |  38.25  |  +0.00  |  42.50  | +0.00  |
| SEP   |  21.75  |  +0.00  |  23.00  | +0.00  |
| OCT   |  22.40  |  +0.65  |  23.20  | +0.00  |
| NOV   |  22.40  |  +0.00  |  23.20  | +0.00  |
| DEC   |  22.40  |  +0.00  |  23.20  | +0.00  |
| JAN   |  24.50  |  +0.00  |  26.00  | +0.00  |
-------------------------------------------------------------
Power Futures
| Month |  PJM  | Change |
| FEB   | 25.40 | +0.00  |
| MAR   | 24.85 | +0.00  |
| APR   | 24.85 | +0.00  |
| MAY   | 28.40 | +0.00  |
| JUN   | 36.00 | +0.00  |
| JUL   | 49.50 | +0.00  |
| AUG   | 49.50 | +0.00  |
| SEP   | 25.50 | +0.00  |
| OCT   | 25.20 | +0.00  |
| NOV   | 25.20 | +0.00  |
| DEC   | 25.20 | +0.00  |
| JAN   | 28.75 | +0.00  |
-------------------------------------------------------------
Brownell Says FERC Should End El Paso Case

   The FERC should expeditiously wrap up its investigation into whether El
Paso manipulated the California natural gas market last winter to inflate
prices by billions of dollars, according to FERC Commissioner Brownell.
The California PUC, PG&E, and Southern California Edison claim El Paso
withheld capacity on pipelines into the state from November 2000 through
March 2001. El Paso has maintained it is innocent of any wrongdoing.
Brownell says that if there are violations of rules, the rule breakers
should be punished. But, barring such violations, those firms should be
exonerated, she said in a filing with the ALJ overseeing the El Paso case.
The ALJ ruled last October that El Paso did not drive up natural gas
prices on its pipeline into California at a time when the state was
struggling with an energy crisis. But FERC reopened the El Paso
investigation in December, saying the issue needed to be reexamined to
ensure consumers were protected.
-------------------------------------------------------------
Energy Seminars, Inc. Announces Key Seminar Offerings for January:

Energy Seminars will be going to Florida and Calgary in 2002!

Click to www.energyseminars.com to see our 2002 schedule.

Register on-line at http://www.energyseminars.com or call Registrar Gina
Patrick

Phone: 281-362-7979
FAX: 281-296-9922
--------------------------------------------------------------------------------------------------------------------------

Memo Directs Anderson Employees to Destroy Enron Documents

    A memo directing Andersen employees to destroy everything except basic
work papers related to its Enron audits, just 4 days before Enron revealed
a $618 million loss, has caused many to question whether an obstruction of
justice occurred. Thousands of e-mails and other files that might have
shed some light on the events leading up to Enron's bankruptcy were lost,
according to reports. Andersen said that some employees destroyed the
Enron files before the SEC began its investigation. A Senate panel has
issued subpoenas for documents from Enron, Andersen and 49 current and
former officers and directors. Andersen is the subject of a Congressional
investigation, a federal criminal inquiry and lawsuits from shareholders
that may cost it billions of dollars. There has been speculation that
Andersen is considering a merger with another member of the Big 5
accounting firms to prevent its collapse. According to reports, Andersen
supervisors repeatedly reminded employees of the memo prior to the
issuance of subpoenas by the SEC. Enron paid Andersen $25 million last
year for its audit and $27 million for consulting fees and other matters.
In addition, Enron's chief accounting officer and its CFO previously
worked for Andersen. Last year Andersen settled a lawsuit over its
accounting work, which was brought by shareholders of Sunbeam, for $110
million. It also agreed to a $20 million settlement in a class-action
lawsuit stemming from its audit of trash company Waste Management.
-------------------------------------------------------------
                Progas Storage Services, Inc

Was recently organized to offer specialized natural gas storage services
to marketers and end users servicing the upper Midwest and Northeast
market regions along the major transmission systems in Indiana, Illinois,
Kentucky, and Michigan. PGSMI has 10 bcf of potential working capacity
which will offer service along TXG, ANR, Midwestern, and is currently
evaluating for purchase another 21 bcf of potential working capacity which
can be serviced by these and other systems in the region. PGSMI also
explores for natural gas in the Gulf Coast region through a wholly owned
subsidiary. Progas intends to go public through a route of private
industry offerings, and an IPO or registration. For more information on
services or the company mail to: gastorage@aol.com or for AOL mail to
gastorage@aol.com;
The company's executive and administrative office is located in Abilene,
Texas with storage operations in Owensboro, KY and exploration operations
in Corpus Christi, TX.
Vist our website http://www.progas.net/wip
Progas Storage Services, Inc
8610 S. Hwy 277
Abilene, TX 79606

Ph 915 698 3699
Fx 915 698 2859
-------------------------------------------------------------
Enron Plummets Off PFC 50 Ranking as Russian Majors Move Up

    Other than the September 11th disaster, Enron's collapse is the
biggest story in the capital markets in 2001 and within the PFC 50. Enron,
once ranked as high as 5th among global energy companies, left the natural
gas and power landscape dramatically changed. However, in the midst of the
turmoil in US energy markets, the Russian energy majors clearly emerged as
winners in 2001, surpassing all of the PFC 50 companies in market returns.
Among the Russian companies in the PFC 50, Yukos entered the rankings at
number 38. Gazprom moved up 6 spots to 35. Lukoil and Surgutneftegaz were
at spots 44 and 33 respectively. Conoco and Phillips were the 2 of the
most active players in M&A in the PFC 50 in 2001. Their recent plans to
merge, coupled with the acquisitions of Tosco and Gulf Canada in 2001,
signals the continuing importance of consolidation in the energy sector.
Also, the swap agreement between E.On and BP reinforces the trend of
convergence within industry consolidation. Pending regulatory approval, E
On will increase its share in Ruhrgas to over 32%, and BP will acquire a
51% stake in Veba Oel. From a convergence standpoint, the swap will give E
On added strength in its efforts to expand its natural gas business in
Europe. As a result of Enron's fallout, credit quality for Enron's peers
has been re-assessed and downgraded in some cases. In response to credit
reassessments and poor market performance, companies such as El Paso,
Dynegy, Williams and have initiated capital restructuring programs to
reassure investors, creditors, and rating agencies. Given the credit
watches and budget cutbacks, the PFC 50 report examines which of the
merchant energy companies and utilities are best suited to capture some of
Enron's lost market share. The PFC 50 serves as a reference guide for
international energy companies competing in a changing and converging
landscape. The PFC 50 report is updated quarterly and covers top
performers, M&A, strategies, and business models. Visit www.pfcenergy.com
for full details.
-------------------------------------------------------------
FINANCIAL SUMMARY
The TSE 300 dipped 78.65 points to 7623.28
The CRB Index slid 1.89 points to 192.50
The US Dollar decreased 0.16 points to 116.48
The Dow declined 96.11 points to 9891.42
The S&P 500 dropped 7.19 points to 1138.41
The Nasdaq was down 31.72 points to 1990.74
February NYMEX Crude Oil fell 0.79 to 18.89
Canadian-US Exchange lost 0.0001 to 1.5971
-------------------------------------------------------------
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enerfax-subscribe@egroups.com

Outlook Email Readers-subscribe to webmail by writing to:
mailto:join-EnerfaxDaily@relay.netatlantic.com
-------------------------------------------------------------
Washington DC
January 24, 2002
Spencer Abraham U.S. Secretary of Energy to address energy community on
potential security and commerce threats. Also to speak will be key
directors
from the CIA, SPR, IEA, SPR and more. See complete
detail and register today at
http://www.wesc.org
-------------------------------------------------------------
Please welcome our advertisers by visiting these websites.
http://www.e-acumen.com
http://www.kwi.com/
http://www.fea.com/
http://www.caminus.com/
http://www.progas.net/wip
http://www.ziffenergyconferences.com/
http://www.energyseminars.com
http://www.desert-crossing.com
http://www.epis.com
http://www.rwbeck.com
http://www.NewEnergyAssoc.com

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Hi Mike, just wanted to show you what I sent Keith last week.
I'm working on getting more info and also working on cut codes
with Chris Hyde and Matt pena (UNIFY/IT).

Thank you.

-Liz
 -----Original Message-----
From: 	Shim, Elizabeth
Sent:	Tuesday, November 13, 2001 6:58 PM
To:	Holst, Keith
Subject:	Storage Sample

Keith,

I changed the report information as you requested.
Please let me know if there are additional changes
you need. On some of the storage points
the current balance information is not available.
I will work towards getting these, in the meantime
let me know what else would be needed.

ES


We are making a number of significant organizational changes.  These changes
are intended to accomplish four key objectives:

First, we need to realign all our wholesale businesses around the successful
business model developed over the last decade in North America and Europe.
This model relies on extensive physical and transactional networks built
around a relatively small strategic asset position.

Second, we need to significantly streamline corporate reporting
relationships.  Particularly with Joe Sutton,s departure, the ability to
directly manage the day-to-day activities of 15 independent business units
has become increasingly difficult.

Third, we need to accomplish these changes without, in any way, compromising
the ongoing profitability of all our businesses and without delaying or
hindering our effort to monetize a significant portion of our lower-yielding
asset positions.

And fourth, as always, we need to take advantage of the reorganization to
redeploy our talent into our highest value opportunities.

ENRON WHOLESALE SERVICES

Today, we are forming Enron Wholesale Services (EWS) which will consolidate
our global wholesale businesses.  The closer alignment of our wholesale
businesses will accomplish the following: (1) enhanced communication and
coordination across business units, (2) more rapid deployment of people to
higher valued opportunities, (3) more effective prioritization of
opportunities across the wholesale business, and (4) more rapid extension of
Enron,s wholesale business model and capabilities into new industries and
markets.

Enron Wholesale Services will include our current North American, European
(including Japan and Australia), Global Markets, and Industrial Markets
operations, and will be expanded to include Enron,s Net Works business unit
as well as a new unit ) Enron Global Assets.  In addition, Enron,s merchant
businesses outside of North America and Europe will be integrated into this
new structure as described below.

Mark Frevert, currently Chairman of each of our wholesale units, will assume
the role of Chairman and CEO of Enron Wholesale Services.  Greg Whalley,
currently Chairman and CEO of Enron Net Works, will join Mark in the Office
of the Chairman as President and Chief Operating Officer.

Providing further impetus for these organizational changes, several of our
international business unit leaders have elected to move into new leadership
positions:

Rebecca McDonald, currently CEO of Enron APACHI, will join EWS as President
and CEO of Enron Global Assets. Enron Global Assets will have responsibility
for managing all of Enron,s existing energy asset portfolio outside of North
America and Europe.  Joining Rebecca in the Office of the Chairman as COO
will be Jim Hughes, currently COO of Enron APACHI.  Rebecca and Jim will
report to the EWS Office of the Chairman.

Sanjay Bhatnagar, currently CEO of Enron India, has joined EBS as CEO for the
Middle East and Asia region.  Sanjay will be responsible for building our
broadband business in this region and the current EBS team in this region
will report to Sanjay.  In this role, Sanjay will report to the EBS office of
the Chairman.  In addition, Sanjay will continue to remain responsible for
Enron,s wholesale energy business in India and will transition this business
into Enron Global Assets in the near future.

Diomedes Christodoulou, currently Co-CEO of Enron South America, has joined
EBS as Chief Commercial Officer.  Diomedes will be located in London and will
focus his origination activities on global opportunities, with near term
attention to the wholesale and enterprise sectors.  Diomedes will report to
the EBS Office of the Chairman.

Jim Bannantine, currently Co-CEO of Enron South America, will be joining EES
to lead EES, commercial efforts outside North America and Europe.  In order
to ensure a smooth transition for our South American businesses and to
facilitate our asset sales activities, Jim will remain in South America for
at least the next several months and continue to serve as CEO of Enron South
America.  Throughout the transition, Jim will report to Cliff Baxter and to
the Office of the Chairman of Enron Wholesale Services.  Following the
transition, Jim will join EES.

In addition to these changes in our international asset operations
activities, we are making the following changes in our merchant wholesale
businesses and the commercial support functions:

Enron Net Works
Louise Kitchen will assume Greg,s previous responsibilities as President and
CEO of Enron Net Works, reporting into Mark and Greg.

Enron Americas
Concurrent with the transfer to Enron Global Assets of responsibility for
operating Enron,s South and Central America asset base, all trading,
marketing, and new asset development activities in these regions will report
into a new entity, Enron Americas.  Enron Americas will have responsibility
for all wholesale merchant businesses across North, Central and South
America.  Dave Delainey, President and CEO, and John Lavorato, Chief
Operating Officer will comprise the Office of the Chairman for Enron
Americas.

Enron Europe
The Enron Europe organization, which includes Enron,s businesses in Australia
and Japan, and Enron Metals, remains unchanged under the leadership of John
Sherriff, President and CEO, and Michael Brown, Chief Operating Officer.

Enron Global Markets
Enron Global Markets, under the leadership of Mike McConnell, President and
CEO, and Jeff Shankman, Chief Operating Officer, will continue to have
responsibility for Enron,s Middle East and LNG operations.  With the
exception of Ecoelectrica in Puerto Rico, all operating power plants and
associated personnel in the Caribbean and Central America will transfer to
Enron Global Assets.  Enron Global Markets will also continue to manage the
commodity businesses in crude and products, coal, weather, insurance,
equities, interest rates, foreign exchange, and agricultural products.

Enron Industrial Markets
Enron Industrial Markets, organization, under the leadership of Jeff McMahon,
President & CEO, and Ray Bowen, Chief Operating Officer, remains unchanged.

Commercial Support for EWS
The commercial support functions for EWS will remain with, and be managed by,
the individual business units.  We are creating no incremental overhead in
the creation of EWS, and in fact hope to reduce our operating costs by more
efficient utilization and sharing of resources across EWS.

To this end we have asked several people to take on an expanded role across
EWS in addition to their ongoing roles within their business units.  These
newly defined roles are as follows:

Mid and Back Office Operations ) Sally Beck will lead Mid and Back Office
Operations across EWS.  These services will become part of Enron Net Works,
with Sally reporting to Louise Kitchen and Rick Causey, Executive Vice
President and Chief Accounting Officer.  This alignment creates a coordinated
services organization with IT and e-commerce platforms to support the
wholesale businesses and to maximize opportunities to commercialize these
services.  Mid and Back Office services for all commercial activities will
continue to be organized with dedicated operations controllers responsible
for specific commodities and/or geographic locations.
Legal ) Mark Haedicke will serve in the role of General Counsel for EWS.
Regulatory and Government Affairs ) This function will remain organized on a
regional basis.  Rick Shapiro will support all EWS businesses operating in
the Americas, and Mark Schroeder, who is based in London, will support all
European and Eastern Hemisphere operations.  Rick and Mark will also continue
to support all other Enron businesses operating in their respective regions
and will continue to report to Steve Kean, Executive Vice President and Chief
of Staff.
Public Relations ) This function is also organized primarily on a regional
basis.  Eric Thode will have responsibility for North American activity,
Enron Net Works, and Enron Industrial Markets.  Jackie Gentle will continue
in her role for Enron Europe (including Japan and Australia) and John Ambler
will have responsibility for activity outside North America and Europe as
well as providing support for Enron Global Markets and Enron Global Assets.
These individuals will also continue to have a split reporting relationship
to Mark Palmer, Vice President of Communications.
Business Analysis and Reporting ) Wes Colwell will expand his role to cover
EWS reporting in addition to his current role in North America.

Attached for your review is an organization chart for Enron Wholesale
Services which summarizes the changes described here.  As this organization
continues to evolve we will keep you informed of any additional changes.

ENRON GLOBAL EXPLORATION AND PRODUCTION
AND ENRON WIND

 As part of our company-wide initiative to examine our assets and investments
around the world, we are considering a variety of options with respect to
EGEP and EWC.  As a consequence, we are putting these businesses under Cliff
Baxter,s direction.  Jeff Sherrick, CEO of EGEP, and Jim Noles, CEO of Enron
Wind, will report to Cliff.

CORPORATE STAFF

 We are consolidating the corporate staff functions: Human Resources,
Government Affairs, Public Relations/Communications and Administration.  In
that regard, Cindy Olson, Executive Vice President of Human Resources and
Community Relations, will report to Steve Kean, Executive Vice President and
Chief of Staff.

COMMITTEE STRUCTURE

 In light of the increased leadership opportunities created by Enron,s
growth, the Executive Committee will be expanded to include more of our
business unit leaders.  The primary role of this committee will continue to
be the communication of relevant information across Enron,s businesses and
the coordination of activities across those businesses.  We will also be
drawing on this group to lead company-wide initiatives such as the
performance review process and evaluation and creation of new businesses.
The Executive Committee membership is shown on the attached list.

 We are also forming a new committee ) the Enron Corporate Policy Committee.
This group will be responsible for overall corporate policy, personnel
management policy and corporate strategy.  The Enron Corporate Policy
Committee membership is also shown on the attached list.

 We are confident that these changes will align our talent and our capital to
our highest return opportunities.  Please join us in congratulating and
supporting all of these individuals in their new roles.


A spoon is a good start.  I think it's good as a cake frosting, as a filling between a couple of cookies, maybe spread on toast or even dissolved in coffee?  In Buenos Aires I remember it coming in a tiny little jar at breakfast along with the marmalade and honey -- goodness knows what they put it on.

 -----Original Message-----
From: 	"Linda Hayman" <LHAYMAN@skadden.com>@ENRON [mailto:IMCEANOTES-+22Linda+20Hayman+22+20+3CLHAYMAN+40skadden+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Monday, July 30, 2001 12:47 PM
To:	Taylor, Mark E (Legal)
Subject:	Re: Thank You!

So tell me....Exactly how do I eat the dulce de lece?  With a spoon?  Do I put it on other things?  Mix it in anything?  I don't want to waste any of it experimenting............

Linda Hayman
Skadden, Arps,Slate, Meagher & Flom, LLP
4 Times Square, 42nd Floor
New York, NY  10036
T:  212-735-2637
F:  917-777-2637

>>> "Taylor, Mark E (Legal)" <Mark.Taylor@ENRON.com> 07/30/01 01:23PM >>>
Had a great weekend and looking forward to next time.  Hope you made it
back to town ok.  I had no problems but I think you should just assume
that from the Newark airport it's at least 2.5 hours, probably a bit
more.  The Avis lady didn't bat an eye; of course I stood towards the
back of the car so she wasn't really looking at the front and there was
a big line forming behind me so she was in a hurry.  Did the kids get
away even close to on time?

Thanks again!

Mark Taylor
Vice President and General Counsel
Enron Wholesale Services
(713)853-7459

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you.
**********************************************************************

 - Linda Hayman.vcf << File: Linda Hayman.vcf >>


Jeff:
My name is Tom Mashington and I'm a Construction Project Manager for EES in their Philadelphia office. A few weeks ago, I received in the mail a Enron newsletter which contained a feature of you and your interests. While reading the article, I noticed that you're into "Anything Africa." Two years ago, I was working in Ghana, West Africa on a cogen plant with Stone & Webster. Most US. citizens have no idea what the conditions are like in these 3rd world countries.
I was curious as to how many trips you've made to the sub-Saharan section of the continent and to which countries you have visited.
Earlier, I was discussing my African experience with Marty Sunde. I sent him a few ebony wood carvings purchased from the local villagers. These pieces were hand carved by artisans in the area.  If you have a moment, you should stop by his office on the 8th floor where he has them on display.
I have also attached the files containing a few digital photo's from the area where I lived and worked. These are primarily photos from the local villages near the plant.
While you're viewing the photos, you should be able to recognize me. I'm the only American looking individual in the tribe.
Enjoy

Tom Mashington


Jeff Porter is the CES person responsible for looking at their transport.
Last week, he said he was working on their transport numbers.  Also,
yesterday I informed Jeff about some transport CGAS had listed on the EBB.


http://www.consultrci.com

************************************************************************

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and Losers" at:
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************************************************************************

===============================================================
SCIENTECH IssueAlert, October 17, 2000
Dynegy Launches B2B Portal and Trading Site
By: Will McNamara, Director, Electric Industry Analysis
===============================================================

Dynegy, Inc. announced the launch of Dynegydirect, an Internet-based,
commission-free
B2B portal and trading site for energy and communications commodities.
Dynegydirect will be introduced to Dynegy customers in a phased-in rollout
that started on Oct. 16, with online trading commencing over the next several
weeks. Through the portal, Dynegy customers will have self-service access
to Dynegy's bid and offer prices across U.S. power, natural gas and
natural-gas
liquids products. U.K power and natural gas, as well as coal, emission
allowances, weather derivatives, international natural-gas liquids, and
bandwidth will be offered in the coming months.

ANALYSIS: This is a major undertaking for Dynegy, but perhaps not very
surprising as the company is following many of its competitors into the
big-league online trading market. Dynegy is following a trail blazed by
the likes of EnronOnline, Entergy, AEP, etc., in establishing a portal
to "enhance liquidity, improve customer control and create greater trading
efficiency." Of the various online trading sites that have been announced,
Dynegydirect appears most similar to EnronOnline*clearly the leader in
the field*because it is principal-based. In other words, Dynegy will be
a participant in all of the transactions, either as a buyer or a seller.
Unlike EnronOnline, which is completely online, Dynegydirect will allow
customers to conduct their transactions with Dynegy over the telephone
during and following the launch of the site.

Over the last year, Dynegy has identified its strategy as wanting to become
a leader in the converging energy and communications business. In addition,
according to Dynegy's CEO Chuck Watson, the company's goal is to gain a
10-percent share (or 70,000 MW) of the U.S. electric market over the next
five years by acquiring plants, building them or negotiating the right
to sell power produced by others. Along with a strident strategy of building
merchant plants in areas where demand is growing significantly, Dynegy
presumably plans to now use its trading portal to market the power it has
either generated itself or bought on the wholesale market.

I spoke late yesterday afternoon with Blake Young, Dynegy's chief information
officer and president of Dynegy Global Technologies, about the new site
and how it will compete against such stiff competition. First, Young said
that Dynegydirect is a "component of a broader strategy" to support Dynegy's
comprehensive electronic business efforts. What this means is that
Dynegydirect
ultimately will be much larger than just a trading portal, including such
other electronic businesses as e-procurement and energy supply chain
management.
The portal will be particularly customer-driven, in that it should provide
many windows of opportunity for Dynegy customers to maximize their management
capabilities.

Dynegy has been planning a trading operation for some time; its growth
as a power generator and marketer has been an indication that Dynegy
recognized
new trends in the energy industry. You may recall that a few months back
Dynegy teamed with Williams in investing $25 million each for minority
equity stakes in eSpeed, Inc. As noted in SCIENTECH's IssueAlert from Sept.
25, eSpeed is investing $2 million in TradeSpark, which plans to create
electronic marketplaces for natural gas, electricity, coal, weather
derivatives,
nitrogen oxide, and sulfur dioxide emission credits. TradeSpark is using
the infrastructure and capabilities of eSpeed. In other words, eSpeed is
TradeSpark's "enabler." As an investor in eSpeed, Dynegy stands to profit
from TradeSpark's pre-launch market valuation of $40 million. At this point,
it is not clear if Dynegy intends for Dynegydirect to be a competitor to
TradeSpark as Dynegy stands to profit from both trading operations.

How does this all relate to Dynegydirect? According to Young, Dynegy is
pursuing commodity trading along two venues. The first is a proprietary,
one-to-many format in which Dynegy will participate in all transactions
as either a buyer or a seller. This operation will be conducted on the
Dynegydirect portal. The second venue is an anonymous, many-to-many format
in which Dynegy will participate along with multiple buyers and sellers.
This operation will take place on TradeSpark, which became operational
in early October. Dynegy is a participating member in TradeSpark along
with Coral Energy, Dominion, Koch Energy Trading, TXU Energy Trading, Williams
Energy Marketing and Trading, and Cantor Fitzgerald. Entergy also plans
to come on board as a member and investor once its venture with Koch closes
later this year.

Other key attributes to Dynegydirect, as identified in the announcement
of the site, are that its "highly configurable floors will enable customers
to group products in a customized fashion for convenient access." In addition,
customers can trade on multiple floors simultaneously, and the site's
real-time
price updates will allow them to see prices on all of their floors, enabling
them to make immediate decisions on prices and volumes.

Young said that Dynegy is extremely confident that the portal's technology
will be "well accepted" as it is JAVA-based (meaning, among other things,
that it is flexible enough to operate between MACs and IBMs) and
object-oriented.
While these are important from an IT perspective, as would be important
to CIO Young, perhaps more importantly is that the site offers an opportunity
for Dynegy to support the growth of its businesses and offers a
cost-efficiency
tool for customers.

In August, Dynegy announced that it is acquiring Extant, a privately held,
Colorado-based communications solutions and e-commerce company. Extant's
primary line of business is in providing connectivity solutions and broadband
capacity to communications businesses and information providers, enabling
them to exchange information and provide voice, data and video services
to their customers. The acquisition will mark Dynegy's first significant
penetration into the telecommunications sector. While not directly related
to this new portal, the acquisition of Extant is relevant because Dynegy
intends to eventually trade broadband capacity on the site. Extant's broadband
capacity will help to support Dynegy's trading of this commodity.

While the move to online trading is a smart, and almost inevitable, decision
for Dynegy and other energy companies wanting to remain competitive, the
competition and risk associated with this venture are formidable. Clearly,
Dynegy has found a market edge with its eSpeed /TradeSpark affiliation.
TradeSpark is already up and running, as compared to many announced trading
sites that have launch dates next year. In addition, TradeSpark is creating
a large liquidity pool by bringing together several mediums, including
the Internet, voice brokering and eSpeed's 300 millisecond private global
network. The many-to-many format which Dynegy is pursuing through TradeSpark
is an obvious route for the company to follow, and one with considerably
less risks associated with it. On the other hand, building its own
Dynegydirect,
in which Dynegy is the principal player, sounds like a Herculean task.
For perspective, Enron was the first company that came out of the gate
with an online energy trading portal. EnronOnline has a 12-month lead*along
with transactions in excess of $100 billion*ahead of Dynegy, or any company
that is just now developing a trading portal. It appears that Dynegy plans
to build Dynegydirect from the ground up, unlike its involvement in
TradeSpark,
which is already up and running. This could become a lengthy and costly
endeavor.

As I finished writing this analysis, Dynegy reported third-quarter earnings
of $.55 per share. In particular, Dynegy reported that recurring net income
from Dynegy Marketing and Trading increased to $141.0 million, representing
80 percent of Dynegy's consolidated net income (compared to $26.8 million
in the third quarter of 1999). Obviously, Dynegy's commodities marketing
and trading operation is on a very significant growth mode. The launch
of Dynegydirect*along with ongoing participation in TradeSpark*is a key
element of this growth.
===============================================================
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to complex problems, our experts and consultants will get results. Learn
more about our six service areas at:
http://www.consultrci.com/web/rciweb.nsf/Web+Pages/About_RCI.html
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===============================================================
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TRADE DATE	TRADE CNT
11/12/2001	4249
11/11/2001	23
11/10/2001	23
11/9/2001	3404
11/8/2001	3845
11/7/2001	5056
11/6/2001	5529
11/5/2001	5681
11/4/2001	14
11/3/2001	33
11/2/2001	5265
11/1/2001	5685
10/31/2001	5700
10/30/2001	4932
10/29/2001	5603
10/28/2001	2
10/27/2001	10
10/26/2001	5874
10/25/2001	7414
10/24/2001	5813
10/23/2001	7421
10/22/2001	6635
10/21/2001	31
10/20/2001	3
10/19/2001	7196
10/18/2001	6586
10/17/2001	6246
10/16/2001	6170
10/15/2001	4829
10/14/2001	12
10/13/2001	15
10/12/2001	5565
10/11/2001	5137
10/10/2001	4872
10/9/2001	4573
10/8/2001	4512
10/7/2001	21
10/6/2001	14
10/5/2001	5281
10/4/2001	5313
10/3/2001	5069
10/2/2001	4754
10/1/2001	4586

Trading pace by counterparty is in the enclosed spreadsheet.


Pete--

Congratulations on your new baby girl. Girls are a lot of TROUBLE so prepare!!! I hope that your wife is doing well. I'll make sure to come by your desk to see pictures!

Purvi


Information Security World E-NEWS
http://www.informationsecurityworld.com

Tuesday 30th October 2001

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Eva Iles, Editor Online Communications
mailto:eva.iles@terrapinn.com

***SPOTLIGHT***
XP 'SECURE' REGISTRATION PROCESS ALREADY THWARTED
Crackers have already thwarted Microsoft XP's registration process for Windows XP according to British security company Bit Arts Labs.
http://www.informationsecurityworld.com/Tmpl/article.asp?CID=16&AID=9506&TCode=NW

***INDUSTRY NEWS***
WORM WARNING: DO NOT RUN ANTS 3.0 E-MAIL
A new worm is arriving by e-mail disguised as a helpful trojan clean-up tool.
http://www.informationsecurityworld.com/Tmpl/article.asp?CID=16&AID=9505&TCode=NW

POORLY CONFIGURED ROUTERS MEAN SURGE IN D-DOS
Carnegie Mellon University has released a report, which says the widespread use of poorly configured routers has opened the door to an 'imminent' spate of attacks that could slow Internet traffic.
http://www.informationsecurityworld.com/Tmpl/article.asp?CID=16&AID=9423&TCode=NW

TERRORISM LAWS TIGHTEN AT THE EXPENSE OF PRIVACY
The US senate has approved legislation expanding the authority of federal investigators to monitor the Internet and phone activities of suspected terrorists, and President Bush intends to sign.
http://www.informationsecurityworld.com/Tmpl/article.asp?CID=16&AID=9427&TCode=NW

XP DATA SCRUBBER CAUSES SECURITY AND PRIVACY CONCERN
Computer forensics experts are embroiled in a debate with security experts about whether default security features in Windows XP - designed to completely remove data from a computer - are a threat.
http://www.informationsecurityworld.com/Tmpl/article.asp?CID=16&AID=9393&TCode=NW

BIN LADEN 'TOAL' MASS-MAILING WORM WARNING
A new mass-mailing worm uses peoples' interest in Osama bin Laden to encourage people to open a malicious attachment, which will propagate to other systems and create a 'back door' on infected systems.
http://www.informationsecurityworld.com/Tmpl/article.asp?CID=16&AID=9408&TCode=NW

COMPAQ PERFORMANCE RESULTS REFLECT TOUGH TIMES
Compaq has reported a huge loss in the third quarter and predicts a difficult fourth quarter ahead.
http://www.informationsecurityworld.com/Tmpl/article.asp?CID=16&AID=9371&TCode=NW

VISA TEAMS WITH CYBERSOURCE FOR FRAUD DATABASE
Visa USA and CyberSource Corporation have announced the CyberSource Advanced Screen Enhanced by Visa, which they claim is the industry's most comprehensive fraud-detection service for dot coms.
http://www.informationsecurityworld.com/Tmpl/article.asp?CID=16&AID=9316&TCode=NW

***VIRUS ALERTS***
W.32Nimda.E@mm
http://www.informationsecurityworld.com/Tmpl/article.asp?CID=16&AID=9514&TCode=NW

W32.Klez.A@mm
http://www.informationsecurityworld.com/Tmpl/article.asp?CID=16&AID=9516&TCode=NW

W32.ElKern.3326
http://www.informationsecurityworld.com/Tmpl/article.asp?CID=16&AID=9517&TCode=NW

W32.Anset.Worm
http://www.informationsecurityworld.com/Tmpl/article.asp?CID=16&AID=9518&TCode=NW

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thanks for all of your help, it looks like we have found someone internal to
the group to fill the need.  I will keep talking with Monica in Portland for
July rotation.  Thanks again.
PL


Note: you click on the link:

Senate Committee Room 3191

for the "location" of the hearing...and that should start the audio download!

Joseph
---------------------- Forwarded by Joseph Alamo/NA/Enron on 07/11/2001 09:46 AM ---------------------------
Joseph Alamo   07/11/2001 09:45 AM

To:	Jeff Dasovich/NA/Enron
cc:

Subject:	Dunn hearing link?

well, while waiting for Scott to call me back...(he went across the street to the Cap)
this is where I found it on the Senate website --

http://www.sen.ca.gov/ftp/sen/committee/NEW_3191.htm

...then you click "audio" and it should load!


Greg:  Attached is a spreadsheet that summarizes the economics on the POPS deal.  The capitalized costs of POPS that is on the books was gathered by working with Allison Millan from Kerry's group.  Two costs that have not been included are Barbara Gray's time to draft the license agreement and my time to negotiate with AEP.  Please let me know if you need additional information or if there is a formalized process that should be followed here.  Thanks!

Tommy Yanowski

 -----Original Message-----
From: 	Piper, Greg
Sent:	Monday, October 15, 2001 5:14 PM
To:	Yanowski, Tommy J.
Cc:	Pickering, Mark; Roper, Kerry; Beck, Sally
Subject:	RE: Status of sale of POPS to AEP

Can I see the proforma economics on this deal?

GP

 -----Original Message-----
From: 	Yanowski, Tommy J.
Sent:	Monday, October 15, 2001 4:20 PM
To:	Piper, Greg; Pickering, Mark; Beck, Sally; Perlman, Beth; Rao, Ramesh; Warner, John
Subject:	Status of sale of POPS to AEP

It looks like we are close to nailing down the license agreement for POPS with AEP.  There are no major issues with the license agreement.  They want us commit to assigning a resource for about two man months of work to help them bring up the application.  We would bill them $150/hour for this service in addition to the $1,750,000 for the license and source code.  If we can work out a schedule for half days at Enron and the other half at HPL then I think we have a deal.  -  Tommy


FYI.

How do you think we ought to handle Japan on this topic?

Please call to discuss.

Alan
---------------------- Forwarded by Alan Aronowitz/HOU/ECT on 03/28/2000
03:13 PM ---------------------------

David Minns@ENRON_DEVELOPMENT
03/27/2000 06:29 PM
To: Alan Aronowitz@ECT
cc: Heidi Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sue
Frusco/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Signing of Confirmations

Alan further to our discussion last Friday (your Thursday). The current
practice remains whereby confirmations are sent Sue (to be replaced Scott)
for signature. However, in recent times due to Sue's unavailability Heidi has
been called upon to sign confirmations using her backup authority (on approx.
3 occasions).

The report  arising from the recent "Project Doorstop" audit of the Sydney
office included recommendations on development of a back office function in
Sydney. This is under active discussion.


I am organizing a bachelor party and am interested in information on group
rates and facility availability.

Our group will require 5-7 tee times, dinner and cocktails. I am hoping to
book for one of the following Saturdays:

June 24, 2000
July 8, 2000
July 15, 2000
July 22, 2000

Information on transportation to Red Deer would also be appreciated.

Thank you!

Chris Dorland

403-974-6910 Work
403-283-9232 Home
403-850-1883 Cell.
Chris.Dorland@enron.com


Julie,

Sorry for the delay. I was traveling a lot the last few days.
I shall send back my comments by Saturday morning my time.

Vince

"Julie" <julie@lacima.co.uk> on 10/13/2000 04:34:17 AM
To: "VinceJKaminski" <Vince.J.Kaminski@enron.com>
cc: "LC" <les@lacimagroup.com>, "chris" <chris@lacimagroup.com>
Subject: EPRM

Vince,
?
Could you please provide me with an indication on whether you  will be able
to review the latest EPRM article in the next day or so??
?
Look forward to hearing from you shortly.
?
Julie


I know you must be buried with everything happening in CA - If not you, who
can we work with re: CA gas issues.

In addition to the request outlined below, we need an update of the status of
Socal and PG&E restructuring rules (GIR/Gas Accord).

Please advise ASAP!!!

Stephanie
---------------------- Forwarded by Stephanie Miller/Corp/Enron on 01/31/2001
06:57 AM ---------------------------

	Tyrell Harrison @ ECT

	01/30/2001

Sent by: Tyrell Harrison@ECT
To: Stephanie Miller/Corp/Enron@ENRON
cc: Mark Whitt/NA/Enron@Enron

Subject: SoCal Storage Rules

Stephanie,

Mark indicated that you might be able to answer or redirect some questions
that we have regarding the CPUC's rules for SoCalGas storage.  I have
attached some notes, along with related questions, from my review of various
CPUC decisions and filings.  I appreciate any help you are able to give.

Thanks,
Tyrell


FYI.  Push to get real-time pricing continues.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 07/05/2001 11:15 AM -----

	"Carla Reddick" <creddick@svmg.org>
	07/05/2001 10:24 AM
	Please respond to creddick

		 To:
		 cc: <lgoldseth@svmg.org>
		 Subject: RESPONSE OF SVMG to PETITION OF THE CALIFORNIA ENERGY COMMISSION
FOR MODIFICATION OF DECISION 01-05-064 BY PROPOSING A REAL-TIME PRICING
TARIFF, Dockets No. R.00-10-002 and A.00-11-038/A.00-11-056

 - PUC cover letter1.doc
 - RTP support letter.doc
 - certification of service1.doc


As evidenced by an exceptionally strong performance in the second quarter,
Enron,s wholesale energy businesses in North America and Europe continue to
experience tremendous growth.  The opportunities to continue to grow our
natural gas and power businesses have never been better and it is critical to
Enron,s future success that we remain focused on expanding these businesses
and maintaining the strong momentum we have in these markets.

It is equally important that we continue to develop new businesses outside of
gas and electricity, which can make significant contributions to our earnings
growth.  We have made significant progress in developing these businesses in
North America, Europe, and most recently in our new Net Works business unit.
Included in these global businesses are our efforts in crude and products,
coal, emissions, insurance, currency, equity trading, interest rates, credit
trading, paper and pulp, and metals.

While significant progress has been made in these efforts we need to
accelerate the growth of these new businesses while continuing to
aggressively expand our core gas and electricity businesses in North America
and Europe.  In order to accomplish these two objectives and to capitalize on
the increasingly global opportunities in these new businesses we are today
announcing the formation of a new business unit ) Enron Global Markets.  This
new business unit will focus on markets and commodities which are global in
scope, but outside our traditional gas and power markets.  This new core
business unit will operate in parallel with and in close coordination with
the North American and European businesses.

Enron Global Markets will be headed by Mike McConnell, President and Chief
Executive Officer, and Jeff Shankman, Chief Operating Officer.  They will
report to Mark Frevert who will be Chairman of Enron Global Markets.  Mark,
Mike and Jeff will comprise the Office of the Chairman for Enron Global
Markets.

Included in this new business unit and reporting to the Office of the
Chairman will be the following businesses and their leaders:
- Global Crude and Products:     John Nowlan
- Coal:         George McClellan
- Currency, equities, interest rate and agricultural trading:  Gary Hickerson
- Insurance and weather:      Jere Overdyke

Enron,s metals business and Enron Credit.com will remain the responsibility
of Enron Europe. The Paper and Pulp business will continue to reside in North
America.

With the departure of Mike McConnell from Enron Net Works, we are pleased to
announce the following appointments in that business unit:
- Jeff McMahon: President and Chief Operating Officer
- Louise Kitchen: Chief Commercial Officer
- Philippe Bibi:  Chief Technology Officer

Jeff, Louise and Philippe, along with Greg Whalley,  will comprise the Office
of the Chairman for Enron Net Works.

With Jeff Shankman,s departure from Enron North America,s natural gas
operation, all of Jeff,s direct reports will report to John Lavorato.

We are also pleased to announce the following changes to the Enron North
America Office of the Chairman.  John Lavorato will join the ENA Office of
the Chairman as Chief Operating Officer.  Dave Delainey will assume the role
of President and Chief Executive Officer.  Mark Frevert will retain his role
as Chairman of Enron North America in addition to his role as Chairman of
both Enron Global Markets and Enron Europe.

Please join us in congratulating everyone in their new assignments and in
supporting the new Enron Global Markets organisation.


thanks, tom

 -----Original Message-----
From: 	Martin, Thomas A.
Sent:	Wednesday, January 30, 2002 10:51 AM
To:	Neal, Scott
Cc:	Curry, Mike; Bryan, Gary; Larubbio, Morris
Subject:	Texas Seating Plan

 << File: 6th floorplan 01.30a.xls >>


Ehud

FYI

Vince
 -----Original Message-----
From: 	Causey, Richard
Sent:	Wednesday, August 01, 2001 2:38 PM
To:	Williamson, Joannie
Cc:	Kaminski, Vince J
Subject:	RE: Spring 2001 Energy Finance Conference Participation by Jeffrey  K. Skilling

Would you please look for Vince and me whether this would work for Jeff?  Please let us know what we need to do to present this to him.  thanks
 -----Original Message-----
From: 	Kaminski, Vince J
Sent:	Wednesday, August 01, 2001 2:01 PM
To:	Causey, Richard
Subject:	FW: Spring 2001 Energy Finance Conference Participation by Jeffrey  K. Skilling

Rick,

Would you look us to make a joint appeal to Jeff to speak
at this conference? Our friends at UT were very disappointed last
time that Jeff had other commitments and I suggested they should
try to get on his schedule early for the 2002 event.

Vince
 -----Original Message-----
From: 	"Ehud I. Ronn" <eronn@mail.utexas.edu>@ENRON [mailto:IMCEANOTES-+22Ehud+20I+2E+20Ronn+22+20+3Ceronn+40mail+2Eutexas+2Eedu+3E+40ENRON@ENRON.com]
Sent:	Tuesday, July 31, 2001 5:39 PM
To:	Causey, Richard; Kaminski, Vince J
Cc:	George Gau; titman@mail.utexas.edu
Subject:	Spring 2001 Energy Finance Conference Participation by Jeffrey  K. Skilling

Rick / Vince:

Greetings.  I trust this e-mail finds you both well.

Further to my discussions with Vince two weeks ago, I write you at this
time in my capacity as Director of the Center for Energy Finance Education
and Research (CEFER).  As we did in Feb. '01, my colleagues and I are
planning a practitioner-industry Conference in Spring 2002, tentatively
scheduled for 2/21 - 2/22/02.  The Conference will kick off with a
dinner/keynote address Thur. evening, then continue all day Fri.

I would like to extend an invitation to Enron Corp. President Jeff Skilling
to be the keynote speaker at the Thur. evening dinner or the Fri. lunch
(whichever he prefers).  I appreciate your kind offer to relay this
invitation to Mr. Skilling's office for his consideration.  If at this
stage he has timing constraints in the late Feb. - early March 2002 period,
we would be happy to work around them in the scheduling of the Conference.

Although the format for 2002's conference may differ from that used in Feb.
2001, for completeness I enclose herewith a copy of the 2001 Conference
Program.

With thanks for your intercession on our behalf,
Ehud Ronn

 - 2001 Conference schedule1.doc << File: 2001 Conference schedule1.doc >>

==============================================
     Ehud I. Ronn
     Professor of Finance and Jack S. Josey Professor in Energy Studies
     Director, Center for Energy Finance Education and Research
     McCombs School of Business
     University of Texas at Austin
     Austin, TX. 78712-1179
     Voice:  (512) 471-5853
      FAX:   (512) 471-5073
      Internet:  eronn@mail.utexas.edu
=================================================


Hey,

My week is actually going very well so far (my trader left around noon so
today should be a piece of cake).  I know you
guys have been working really hard the last couple of days, but I hope it
paid off and the presentation went well
yesterday.  However, given your comment about y'alls idea getting the axe in
the short term, I'm not sure that was
necessarily the case.  Anyway, I'm sure at least your steak dinner was a hit
(so were you able to resist the red wine
this time, you lush?).

In keeping with my very serious nature (yes, you heard me serious), I've
attached little story for you...I got a pretty
good chuckle out of this one.

PS. - Thanks again for carting me around and feeding me Saturday...I, as
usual, had a great time.  Oh, and by the way, kudos to both of us for
actually making it through a home movie

Subject: FW: FW: Southwest Airlines

>
> > >  A mother and her son were flying Southwest Airlines
> > > from Oakland to
> > > Kansas City. The son, who had been looking out the
> > > window, turned to
> > > his mother and said, "If big dogs have baby dogs and
> > > big cats have baby
> > > cats, why don't big planes have baby planes? The
> > > mother, who couldn't think
> > > of an answer, told her son to ask the flight
> > > attendent. So, the little boy
> > > asked the flight attendent, "If big dogs have baby
> > > dogs and big cats have
> > > baby cats, why don't big planes have baby planes?"
> > > The flight attendent asked, "Did your mother tell
> > > you to ask me that?"
> > > He said that she had. With a clever grin, she said,
> > > "Tell your mother it's
> > > because Southwest Airlines always pulls out on
> > > time."
>

Ted Noble
08/15/2000 10:31 AM
To: Susan M Scott/HOU/ECT@ECT
cc:
Subject:

Shorty,

What's going on young lady.  Hopefully, your week is starting off well.
Things were busy Sunday night through yesterday and don't appear to let up
very much (although our idea most likely will get the axe in the short
term).  Well, have to run (Darren is calling) but I'll give you a call later
today.

Ted


Okay

John Arnold
03/06/2001 12:05 PM
To: Greg Whalley/HOU/ECT@ECT
cc:
Subject: Re: Greg's Bill

i dont know   sounds good to me

Greg Whalley
02/28/2001 05:32 PM
Sent by: Liz M Taylor
To: John Arnold/HOU/ECT@ECT
cc:
Subject: Greg's Bill

Johnny,

What does Greg owe you for the champagne?  Is it $896.00?

Liz


I am not aware of the nuances of copper trading!  However, I left a message
earlier this morning to find out from the MG lawyer.  I haven't heard back.
The deal ticket should provide for the premium payment date and, if not, I
would use our standard language.  Sara

	Souad Mahmassani
	08/14/2000 09:38 AM

		 To: Sara Shackleton/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT
		 cc:
		 Subject: Copper Trades

Sara / Susan,

On copper option trades, do you know when the premium is usually due?  Does
the standard 2 days rule still applies to this commodity?
Thanks,


Dr. kaminski,

I enjoyed the presentation you gave at the SIAM conference this friday and
would appreciate the a copy of the slides that you were using.
Thank you.

Sincerely,

John Ryan


Herewith a few ideas for the October meeting in London, some of them
after checking with Paul Portney and with Pankaj. I offer these very, very
preliminary thoughts just to start you thinking - do you want your UK
colleagues on the program; do we want some ancillary events? After getting
your views on questions such as these, I can make more definite suggestions.
I certainly think that we should convene a few hours before the opening
dinner so that the advisors can have a tour of the building and the
facilities. Also, I am hoping that Steve will leave some time on this trip
for a tour of the new BA headquarters - very innovative.
We should consider doing something on the global warming question from the
viewpoint of the Europeans. Start with three recommendations on the political
side that Paul received from David Victor of the Council on Foreign Relations
(characterized as "a VERY smart guy on climate"):
Tony Brenton (Deputy chief of mission, UK embassy in DC.  Has been on UK
climate delegations for a decade; smart and lively; pragmatic; insightful).
Bo Kjellen (Swedish head of delegation; knows European politics inside out;
big figure in Europe).
Tubiana, Laurence (Conseil d'Analyse Economique, France; knows the issue and
can speak to French position, but may not have the gravitas of Kjellen or
Brenton).
Among other ideas (I have winnowed out several) is a guy named Liam
Salter at Climate Network Europe. Brussels based, but relatively junior. Paul
also recommends a woman by the name of Laurence Tubiana, an economist in the
French government's equivalent of the CEA; she has a reputation as a good
presenter and a good economist.
WOULD YOU PLEASE CHECK THESE FOLKS OUT WITH YOUR LONDON PEOPLE, AND GET
ADDITIONAL NAMES FROM THEM. THE GOAL IS TO GIVE ALL OF US A PERSPECTIVE ON
THE EUROPEAN VIEW ON ENVIRONMENTAL ISSUES - UNLESS YOU THINK THAT NOT A
USEFUL TOPIC.
I turn now to Pankaj's suggestion, which I transmit verbatim: "I remember
promising to scout around and see if there were a European whom it would be
interesting to invite to talk to the Enron International Advisory Council
about the (non) convergence of governance structures in Europe, particularly
on the Continent, to the U.S. model.  I got the following names from Jay
Lorsch (apparently all members of the committee steering a multifaculty
Harvard business School project on governance in comparative perspective) as
possibilities.  Jay suggested that Sihler would be best (former CEO of
Henkel, very senior),  Peter's second best (apparently, chairman of Amsterdam
Stock Exchange now) and Smith - formerly Managing partner at Price Waterhouse
Coopers - would be the most junior of the three.  I don't personally know any
of the three."
Now some ideas of my own, again acting on the assumption that we want a
two-way educational dialogue - to give your folks in London and Europe a
run-down on the situation in the US, and the US contingent a better
understanding of how European policymakers view the issues we all face.
1.Bill Kristol on the US political scene, in which there is great
interest here, and great misunderstanding of the Bush administration. We
might also consider inviting Larry Lindsey or some other Bush person if
allowed to do so.
2. Someone on the European view on global warming (see suggestions above).
3. Energy regulation in the UK. Callum McCarthy.
4. Economic outlook. Gavyn Davies (usual talk).
5. What went wrong in California (great interest in that over here) and
how to fix it. Steve could do this, or you could invite Bill Hogan (just
joking) or the chairman of FERC if we are allowed to pay his way.
6. Motivating people in a multinational, multicultural organization. If
this is of interest, I can get recommendations for speakers.
7. I would be inclined to add a high-level speaker on the state of
US-UK-European relations, perhaps as a dinner speaker. Between Gavyn and me,
we might be able to get Chancellor Gordon Brown, a very interesting guy, and
the inventor of the "climate change levy" that is driving industry in this
country nuts.
Please look this over. Steve and I have to get together, preferably with
Ken, which leads me to suggest Aspen during the Institute's energy forum,
which I understand Ken will be attending. But if that is not feasible, Steve
and I can work out a date for a preliminary meeting, followed up by one with
Ken at his convenience.
END


BUSINESS HIGHLIGHTS

Enron Industrial Markets
Metal Bulletin - Iron and Steel Awards for 2000
Pushiest Entrant: Enron, the US commodity trading company, which promised it
would revolutionize the steel business by offering futures in hot rolled coil
via its online market place.

The EIM Fundamentals Analysis group is excited to announce that Dave Allan
has joined as a Director, responsible for all Forest Products lines.  He
comes to EIM with 20 years of experience in the Forest Products industry, of
which 14 were spent at Abitibi and 6 with Pulp and Paper Week.  Please join
us in welcoming Dave.

The Siebel Team (&The Force8) continues to work towards program
implementation of its customer management system in early May, with training
to begin at the end of April.  Stay tuned for updates.

Enron Global LNG
Enron Global LNG is positioning itself to be a creator and leader of a global
wholesale LNG market.  The rising prices of natural gas in the United States
and concerns over future energy supplies have created a bullish outlook for
LNG in the U.S. and around the globe.   LNG has played a major role in
serving energy needs in many parts of the world, but its place in the U.S.
energy picture has been limited. An LNG market that spans the globe can
supply vast amounts of otherwise stranded gas to the world,s growing appetite
for cleaner burning fuels.   Enron Global LNG sees great opportunity for
Enron,s wholesale energy business model to help shape yet another energy
market.

IN THE NEWS

Enron Corp. Says First-Quarter Profit Rose 20 Percent
Houston, April 17 (Bloomberg) -- Enron Corp., the largest energy trader, said
first-quarter profit rose 20 percent as sales almost quadrupled. Profit from
operations rose to $406 million, or 47 cents, from $338 million, or 40 cents,
in the year-earlier period.  Enron raised its 2001 profit forecast to $1.75
to $1.80 a share, from its January projection of $1.70 to $1.75.

First-quarter revenue surged to $50.1 billion from $13.1 billion as Enron
boosted the volume of power sold in North America by 90 percent. Enron had a
first-quarter gain of $19 million, or 2 cents a share, for an accounting
change, making net income $425 million, or 49 cents a share. There were no
charges or gains in the year-earlier period.

WELCOME
New Hires
EGM - Janelle Russell,
EIM   - David Allan, Sylvia Carter
ENA  - Sasha Divelbiss, Amy Quirsfeld, Judy Zhang, Annette Thompson, Kelly
Donlevy-Lee, Grant Patterson

Transfers (to or within)
ENA ) William Abler, Magdalena Cruz, Barbara Taylor, James Reyes, Marvin
Carter, Angel Tamariz, Jesse Bryson
EIM ) Cassandra Dutton, Christine Sullivan, Camille Gerard, Sherri Kathol,
Jennifer Watson
EGM ) Steven Batchelder

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.


this is the kid from opelika correct?  I heard when he committed last week,
all the publications took him from a 5 star to four star.  SOunds like a
little biased alabama propaganda.

I talked with the guy at the vet school today about donations in PaPa's
name.  He was telling me to call him anytime I am down there and he will get
us a tour of the eagle's new digs and the entire raptor center.  Sounds like
a lot of fun.  Let me know if you are interested during football season.
PL


Dean, to whom did you send the package last week?

"Dean Crawford" <dcrawford@davis.ca> on 12/12/2000 10:09:11 AM
To: <Michelle.Cash@enron.com>
cc: "Brian Hiebert" <BFH@davis.ca>, <Finley.Biggerstaff@enron.com>,
<Kathy.Neal@enron.com>, <Peter.del.Vecchio@enron.com>,
<Rick.Johnson@enron.com>, <Timothy.Callahan@enron.com>
Subject: Re: Celgar - Asbestos Claims

Michelle,
?
Sorry, I should have been more clear on the 4 - 6 % vacation  pay. That is
the statutory minimum under the Employment Standards Act. It  applies to
non-union employees. It only applies to union employees if the  equivalent
provisions in the collective agreement do not "meet or exceed" the  Act's
provisions. Since the collective agreement's provisions are better than  the
provisions in the Act, the Act's vacation pay provisions do not apply to
union employees.
?
In terms of the payment schedule, for union employees the  collective
agreement stipulates they may take their vacation pay at the start of  the
year. I believe Celgar applies a similar policy for non-union employees, but
I'll check on that. When their actual time for vacation comes up, they may
actually have to take that time off without any pay if they've already
elected  to take the pay earlier.
?
For both union and non-union employees, vacation pay is earned  and accrued
in one year and paid out the next. So in 2001, all Celgar employees  will be
entitled to vacation pay based on a percentage of their 2000  earnings.
?
With respect to the standard employment contract, there really  isn't one,
save for the letter of employment that KPMG sent out to all  employees. The
letter from KPMG to Doug Cargill is a sample. It was in the  package I sent
on Friday last week. If you don't have it, please let me know and  I'll send
it.
?
There are also position descriptions for every union and  non-union employees
that are given to the employees upon hiring. These might  also be considered
part of the contract of employment, though they are not  incorporated into a
letter of employment.
?
Hope that answers your questions. Please let me know if I may  be of further
assistance.
?
Dean

>>>  <Michelle.Cash@enron.com> 12/11/00 01:25PM >>>

Thanks,  Dean.

Two questions have arisen based upon your diligence  summary:

1.? Do you have a copy of the "standard" employment  letter?? We haven't
seen it (or, at least I haven't).
2.? What  is meant by the 4-6% vacation pay?? How does that work?? How  are
the pre-payments made?? Does the person get the money early and then  not
get paid for time off later on?? Additional explanations would be  helpful.

Thanks.

Michelle

"Dean Crawford"  <dcrawford@davis.ca> on 12/11/2000 02:10:27 PM

To:??  <pdelvec@ect.enron.com>,  <Michelle.Cash@enron.com>
cc:?? "Brian Hiebert"  <BFH@davis.ca>
Subject:? Celgar - Asbestos  Claims

Peter & Michelle,

Brian Hiebert forwarded to me  Peter's questions regarding the risk of
asbestos litigation at  Celgar.

Under the Workers Compensation Act, employers in British?  Columbia are
required to contribute to an accident fund which provides?  compensation for
injuries or occupational diseases arising out of employment.  In? turn,?the
Act?provides employers statutory immunity  from?damages? in respect of any
personal injury, disablement or  death arising out of and in? the course of
employment.

The  accident fund would cover asbestos claims. There are no
exceptions?which  would allow asbestos litigation?against employers.? The
Act  does?not prohibit?litigation against third parties, eg.?  manufacturers
of asbestos, but employers, as stated, are immune from  such? actions.

Compensation is payable if the worker sustains  pulmonary injury by a
disabling form of asbestosis. We will make the  appropriate enquires about
any? compensation paid to Celgar  employees.


Jason Peters, a contract attorney from Andrews & Kurth, can be contacted   at
X39720, EB3846.