I will be out of the office from 07/17/2000 until 07/24/2000.

I will be checking email & voice mail regularly, but if you need to contact
me I can be reached by mobile phone at (281)-788-0243.  If it is an
emergency, please contact the Notes Development Group at 3-6929.


Don:
In case you haven't arrived by the time I leave I wanted to fill you in on tonight's activities.
JD explained the MHEB relationship and how we should move there power.  As a result I moved 100MW from MHEB to AECI HE 7 & 8 (tag DPL8643).
Be sure to notice the huge profit I raked in on the deal.
100 MW was all they could give me (they originally told us 200 but at HE 2 they called to cut that down to only 100)
I put the deal in the services p&l under MHEB but I didn't empower the deal because I didn't know which book to put it in.
I will be in tonight in case we need to go over this in detail.
Thanks,
Andrew


Dear Power Outage Database Customer,

Attached you will find an excel document. The outage contained within is
a rescheduled outage.
Your daily delivery will still contain this
outage.

In addition to the excel document, there is a dbf file that is formatted
like your daily delivery you receive nightly. This will enable you to
load the data into your regular database. Any questions please let me
know. Thanks.

Greg Elliott
IIR, Inc.
713-783-5147 x 3481
outages@industrialinfo.com

THE INFORMATION CONTAINED IN THIS E-MAIL IS LEGALLY PRIVILEGED AND
CONFIDENTIAL INFORMATION INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR
ENTITY NAMED ABOVE.  YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION,
DISTRIBUTION, OR COPY OF THIS E-MAIL TO UNAUTHORIZED ENTITIES IS
STRICTLY
PROHIBITED. IF YOU HAVE RECEIVED THIS E-MAIL IN ERROR, PLEASE DELETE IT.

 - OUTAGE.dbf
 - 103101R.xls


Sue:
Here's my shot at it.  Please add, subtract, multiply as you see fit.
Thanks,
Jeff

******************************************************************************
****************
Got the California PUC to agree 1) not to place rate-cap related surcharges
on Direct Access customers in SDG&E's service territory, and 2) not to impose
3 cent rate increase on DA customers in PG&E and Edison service territories.
Got the PUC to delay votes threatening to suspend, or end, Direct Access in
California.
Got Senators Dunn and Burton to agree to postpone vote on Senator Dunn's
report recommending that the full Sentate vote to 1) find Enron in contempt
and 2) impose steep fines pending compliance by Enron.
Got the PUC to postpone a vote which would have 1) amended the way California
applies the "PX Credit" and 2) harmed EES' financial position.
Provided the California Assembly Speaker with analysis supporting a
core/noncore electricity market structure in California, which the Speaker
then embraced as his own and established a working group in an attempt to
implement the proposal in California.
Helped reach an agreement with Edison to delay a PUC proceeding in which the
Administrative Law Judge could have forced Enron to submit commercially
sensitive information.
Helped get California policymakers to agree to 1) raise prices in order to
return the IOUs to creditworthiness; 2) establish a "demand buy-down"
proposal; 3) focus on the need to expedite plant siting and construction; and
4) enter into long-term contracts to reduce exposure to price volatility.
Worked with PR and Ken Lay to persuade California's business leaders to get
involved in the effort to resolve California's energy crisis.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/30/99
03:20 PM ---------------------------

VKaminski@aol.com on 12/17/99 07:51:05 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Fwd: Credit Markets Group Organisational Announcement.

Return-Path: <vkamins@ect.enron.com>
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X-Lotus-FromDomain: ECT
From: "Vince J Kaminski" <vkamins@ect.enron.com>
To: vkaminski@aol.com
Message-ID: <8625684A.0078B22B.00@notes.ect.enron.com>
Date: Fri, 17 Dec 1999 15:58:17 -0600
Subject: Credit Markets Group Organisational Announcement.
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---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/17/99 03:58
PM ---------------------------

Anjam Ahmad
12/07/99 09:33 AM

To:   Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT, Vasant
      Shanbhogue/HOU/ECT@ECT
cc:
Subject:  Credit Markets Group Organisational Announcement.

---------------------- Forwarded by Anjam Ahmad/LON/ECT on 07/12/99 03:32 PM
---------------------------

 (Embedded     Enron Europe
 image moved
 to file:      From:  John Sherriff
 pic31547.pcx) 07/12/99 03:10 PM

Sent by:  Enron Europe General Announcement

To:   ECT Europe, Enron Executive Committee, Jay Fitzgerald/Corp/Enron@ENRON,
      William S Bradford/HOU/ECT@ECT, David Gorte/HOU/ECT@ECT, Monte L
      Gleason/HOU/ECT@ECT, Mark Ruane/HOU/ECT@ECT, Ted Murphy/HOU/ECT@ECT,
Rick
      L Carson/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Randy
      Petersen/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Grant
      Masson/HOU/ECT@ECT
cc:

Subject:  Credit Markets Group Organisational Announcement.

(Embedded image moved to file: pic16788.pcx)
We are pleased to announce the formation of the Credit Markets Group which is
responsible for developing innovative products to better manage the risk of
our
internal credit portfolio as well as, looking  for opportunities to provide
third party credit protection.  Initially, we will be making markets in
bankruptcy protection on reference credits which are currently in our
portfolio
but we expect to add additional credit products and reference credits very
quickly.

The team will utilise EnronOnline as its primary trade execution tool, looking
to quickly build market share by capturing the eyes of our current
counterparts.
Simultaneously,  we will launch an external web site focused on credit
protection where potential customers will have access to real time prices and
filter on specific reference credits as well as, access to credit models and
research papers on effective credit risk management.  Utilising e-commerce
business principles, we expect to aggressively claim the space for corporate
credit protection.  We expect to make a public announcement about these new
products in late January.

In order to effectively access the global market for credit protection, the
group will be based in London with an initial local desk set up in Houston as
well.  Bryan Seyfried will be transitioning out of RAC, where he was
responsible
for the Trading Controls and Research teams in Europe, to lead the group and
he
will report to me.

 - pic31547.pcx
 - pic16788.pcx


Steve,

No problem.

Grant will speak in place, but RISK may not be aware of it yet.
You can just register as my guest.

Vince

Steven Leppard
03/03/2000 06:03 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Risk European Energy 2000

Hi Vince

Do you get your regular freebie "ticket" for the Risk conference in
Amsterdam?  (You know what I'm going to ask next...)  It looks like there's
some interesting stuff, and attending would certainly broaden my horizons.

Would you kindly consider bringing me along?

Cheers,
Steve


Sam:  I want to send this out today.  Please let me review your work.
Thanks.  Sara

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 01/22/2001 08:38 AM -----

	Edward Sacks@ENRON
	01/20/2001 10:46 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Re: Cargill-Alliant

My intent on the Credit Worksheet was to only require guaranties and to set
default perimeters (3rd party debt and S&P/Moody ratings).  I believe that
this can be taken care of outside of the CSA.  Let me know if this helps.

Ed Sacks

From: Sara Shackleton@ECT on 01/19/2001 11:04 AM
To: Edward Sacks/Corp/Enron@Enron
cc:

Subject: Cargill-Alliant

Ed:  This counterparty does not want a CSA!!!!!!!!!  Can you please call
Andre and discuss?  Sara

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


FYI.
----- Forwarded by Jeff Dasovich/NA/Enron on 05/29/2001 11:21 AM -----

	"Costigan, Richard" <Richard.Costigan@asm.ca.gov>
	05/25/2001 02:46 PM

		 To:
		 cc:
		 Subject: current energy crisis timeline

 <<Energy Emergency Timeline.pdf>>

Richard Costigan, III
Chief of Staff
Office of the Assembly Republican Leader
California State Assembly
Phone:(916) 319-2005


We did 50 HLH parking with PGE, please see Diana or me for details.

C


I'm sorry - I haven't been keeping up with the Dow Jones data storage. I can
put the data in the sheet - I just need to take a look at how you've set it
up and determine what I should be entering where. I'm running to grab some
lunch right now, but when I get back let's talk about how to compare the Dow
Jones volumes with our daily volumes. I can either send you my data sheet
each afternoon, or add a Dow Jones volume table to the sheet myself - however
you'd like. We'll talk.

Kate

Cara Semperger
03/08/2001 09:34 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Dow jones Data

Are you going to put the data in the sheet, or are you not able to do that.
If not, just send the sheet to the file, and I will do it.

Also, I want to get with you about your daily deal data, because I want to
run a Dow volume vs our volume data set daily.

C


ENA has won the bid for Lost Creek fuel sale with a price of CIG Gas Daily plus $.03.

Thanks for your prompt bids! (I didn't even get a chance to send out a reminder).

Scott Sitter
Bear Paw Energy
Crestone Energy Ventures, L.L.C.
Ph:    (720) 946-3692
Fax:  (720) 946-3640
ssitter@enron.com


Do you want me to continue with Cargill?

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


Thanks,

Dana,

You should copy Fred Philipson on future corresponence, as I will be focused
on other activities.  Thanks for all your help and support.  I think Enron
has a good solution that you should consider.

- Steve Abbanat

 -----Original Message-----
From:  "Dana C. Grogan" <dcgrogan@cmsenergy.com>@ENRON
[mailto:IMCEANOTES-+22Dana+20C+2E+20Grogan+22+20+3Cdcgrogan+40cmsenergy+2Ecom+
3E+40ENRON@ENRON.com]
Sent: Friday, May 11, 2001 6:53 AM
To: Jones, Tana
Cc: Debbie T. Adams; Abbanat, Stephen; Greenberg, Mark
Subject: NDA - CMS Energy - Panhandle Pipe Line Companies

  This agreement should be in the name of Panhandle Eastern Pipe Line
Company.

We want to strike item #2.  The language provides that we will not disclose
the "existence" of the confidentiality agreement.  Normally, we only agree
not to disclose the confidential information.

If these changes are acceptable, we will be ready to arrange a meeting.

If you have any questions or comments, please contact me.

Dana Grogan
dcgrogan@cmsenergy.com
(713) 989-7230

Tana.Jones@enron.com on 04/03/2001 01:10:13 PM

To:   tsmehta@cmsenergy.com
cc:   Stephen.Abbanat@enron.com, Mark.Greenberg@enron.com
Subject:  NDA - CMS Energy - Panhandle Pipe Line Companies

At the request of Stephen Abbanat, I am attaching our proposed form of
Non-Disclosure Agreement.   We would appreciate it if you could please
verify whether "CMS Energy-Panhandle Pipe Line Companies" is the correct
legal name of your company.  If you have any comments or questions, please
call Mark Greenberg, Senior Counsel, at (713) 345-8897as I will be on
vacation the rest of this week.

(See attached file: cms energy.doc)

(See attached file: cms energy.doc)

 - cms energy.doc << File: cms energy.doc >>


The 1100 series.  Frequently I use 1100-3, the Bilateral form.

	Genia FitzGerald
	02/27/2001 09:34 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Janet H Moore/HOU/ECT@ECT
		 Subject: Re: Confidentiality Agreement

Tana,

Can you tell me which numbers the CA's are in the atty.fms?

Thanks,
Genia

	Tana Jones
	02/26/2001 03:54 PM

		 To: Genia FitzGerald/HOU/ECT@ECT
		 cc: Janet H Moore/HOU/ECT@ECT
		 Subject: Re: Confidentiality Agreement

As a general matter, you need to use the forms of Confidentiality Agreements
contained in the atty.fms bank, not the Swap Group's forms.  We have
developed a few of our own forms for special purposes, one, which is in the
swap forms database/current forms, protects the counterparty only, and is
used when Credit wants to get copies of financal statements from a
counterparty and protects the financial information being provided by the
counterparty.

I have developed forms for use by the EnronOnline team, but those should not
be used for any Enron company except EnronOnline and Enron Net Works.

For any other types of matters/projects, we would also use the forms
contained in the atty.fms bank.

	Genia FitzGerald
	02/26/2001 03:44 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Janet H Moore/HOU/ECT@ECT
		 Subject: Confidentiality Agreement

Tana,

Could you please supply me with a copy of your current Confidentiality
Agreement?  Since we "copied" your group on the Enron Corp. Guarantee
Agreement, I thought we could do the same with the CA.

Thanks,
Genia


memo


I need to call that lady back, what should I say?  Do you know who Colin
Tonks is?  did you forward that e-mail to me?
heart
me


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Jay,

Just a quick note to let you know that Mom and Dad arrived around 10am on
Sunday morning.  I took the day off yesterday and we did a few things around
the house and a little shopping.  Uncle Bob arrived around 11:00am from
Phoenix and we went to lunch.  He was back on the road for Houston around
1:00pm.  There is a new subdivision going up down the street from us so we
walked down there yesterday afternoon and wandered through some of the
houses.  Dad seemed to enjoy it -- walking off the sq footage, inspecting
the construction, etc.

WR and I have been really watching the situation with Enron and have our
fingers crossed that things will work out for you now that the deal with
Dynergy has been announced.  Uncle Bob seemed to think that Paul is in a
pretty precarious situation with his job.

Take care and tell the girls 'Aunt Lyn says hi.'

Lyn


ShareBuilder News - IRAs, ADRs and a Special offer for Netstock Direct
Customers!

Dear Sara,

As a Netstock Direct customer (and a direct stock investor), we like to keep
you apprised of the many exciting things that we have going on with our
affiliated ShareBuilder product as well.  We realize that there are many
features of ShareBuilder that Netstock Direct customers may not be aware of
yet and the features just continue to get better and better.

$50 OFFER FOR SHAREBUILDER EXTENDED!!
We recently sent most of you an offer to receive $50 if you open an account
and start investing with ShareBuilder.  We had an overwhelming response from
Netstock Direct customers so we have extended this offer and it now expires
November 30, 2000!  We also had some new ShareBuilders asking if they could
introduce their family and friends to ShareBuilder and if they too would be
eligible for the $50 'Get Started' promotion.  I'm pleased to announce that
we will say yes on these requests, so feel free to share this special offer
with anyone you think would enjoy hearing about ShareBuilder.

To take advantage of this limited-time offer, simply go to
http://redir.cq0.net/r/default.asp?R=000003be9000346d2&promocode=NNF50EOCT -
open a ShareBuilder Account with Netstock Investment Corporation.  After your
first transaction occurs, we,ll credit your account with $50 to help you get
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In response to your requests, we've added over 50 of the most popular
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many others.  It's an easy way to get some international coverage in your
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INDIVIDUAL RETIREMENT ACCOUNTS  (IRAs) - COMING SOON!
I'm proud to announce that we will soon be adding NO FEE Individual
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and it will be an automatic way to fund your account monthly, instead of
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As always, if you have any questions, please feel free to contact one of our
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us toll-free at 1-888-NET-STOK between the hours of 6 AM and 6 PM Pacific
Time Monday through Friday.

Best regards,

Jeff Seely
President and CEO
Netstock Direct Corporation

P.S. You are receiving this email because you have a Netstock Direct Account
setup with us.  You may unsubscribe, update or change your e-mail
preferences, by visiting the "Account" section of
http://redir.cq0.net/r/default.asp?R=000003bb7000346d2.

*See ShareBuilder website for more details.

You must click-thru on this e-mail, set up an account, and purchase at least
one security. $50 credit will post to your account within approximately four
weeks after your first transaction has occurred. Offer only valid for new
accounts with Netstock Investment Corporation. Limit one per email recipient.
Netstock reserves the right to terminate this offer at any time. Not valid
with any other offers. Expires 11/30/00.

ShareBuilder(TM) is offered through Netstock Investment Corporation, a
registered broker-dealer, member NASD/SIPC, and a subsidiary of Netstock
Direct Corporation. Copyright 1999-2000 Netstock Investment Corporation.
ShareBuilder is a trademark of Netstock Direct Corporation. Patent Pending.

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

This email was sent to:  sshackl@ect.enron.com


Wilson,

We are trying to finalize this transaction by next Tuesday, and I could
really use your help.  I believe you owe me a draft of an opinion letter?
Also, do you have any comments to the draft agreement I sent out last week?

I also need an opinion that the language in the agreement re the Cities
obligation to financially support MDEA is sufficient.

Thank you,

Kay


Please move me to the new garage.

Andy
3-6278


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/20/2000
11:20 AM ---------------------------

Zimin Lu
11/17/2000 04:37 PM
To: Stinson Gibner/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: EOL WTI maket maker simulation model

Stinson,

I add the total P/L due to contract rollover.  When the number of trades is
large
and the spread is not too small, the model prints a lot of money, dominated by
those trade earning the half of BO spread.

I also wrote an explaination about the model on the front page. I think we
are
ready to deliever the model V.1.

The next step is to incorporate the intra-day market movement by using high
and low
prices into the pricing.  I will call you on Monday.

Happy Thanksgivings !

Zimin


Don,
  Hope you had a great weekend.  Last time we had spoke,  I inquired about sitting with someone on your desk after work.    I hope the invitation is still open.  I would like to come up sometime this week, if possible.  As I mentioned before, I am really interested in power and working nights.  If you have any objections, please let me know.

Thank you !

Zarin Imam


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BEST BUY CO INC  54.290

May 30, 2001 (Vickers Stock Research via COMTEX) --

<bs>Report Date: May 30, 2001

<bs>Stock Name: BEST BUY INC
<bs>Stock CUSIP: 086516101

<bs>Filer: SCHEIDERER, CHARLES A.
<bs>Position: Senior Vice President

<bs>Stock Symbol: BBY
<bs>Exchange:
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? Copyright 1998-99, StockSelector.com


I have read this series of e:mails but I am not sure that I fully understand
the issue.  Did Willie not do his job?  Are there problems with how SAP
works?  Are both of these an issue?  Please let me know if we have a far
reaching problem with SAP and netting.  Thanks.  --Sally
---------------------- Forwarded by Sally Beck/HOU/ECT on 09/22/2000 04:29 PM
---------------------------

	From:  William S Bradford                           09/22/2000 04:04 PM

To: Sally Beck/HOU/ECT@ECT
cc: Debbie R Brackett/HOU/ECT@ECT
Subject: Re: Perry Gas -SAP Override issue

Sally,

Are you aware of the problems with SAP?  This error caused an incremental
$600,000 credit loss to Perry Gas Companies that could have been prevented.

Let me know if you have any questions.

Bill

---------------------- Forwarded by William S Bradford/HOU/ECT on 09/22/2000
04:02 PM ---------------------------

From:  Russell Diamond
     09/22/2000 03:01 PM

To: William S Bradford/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT
cc:
Subject: Re: Perry Gas -SAP Override issue

FYI-

---------------------- Forwarded by Russell Diamond/HOU/ECT on 09/22/2000
03:01 PM ---------------------------

	From:  Bryce Baxter                           09/22/2000 02:47 PM

To: Russell Diamond/HOU/ECT@ECT
cc:
Subject: Re: Perry Gas -SAP Override issue

Russell - as I remember, Willie finaled the Supply Verification and it was
interfaced to SAP.  This is fine, and then Willie was going to net the A/P
and A/R.  SAP went down after the statement was interfaced, but before Willie
was able to block or net the payment.  When SAP came back up the next day,
the payment had already gone out and we were unable to recall the wire.  If
you have any further questions about this, call me.  Thanks.

From:  Russell Diamond
     09/22/2000 01:46 PM

To: Willie Stewart/HOU/ECT@ECT
cc: Audrey Cook/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT
Subject: Perry Gas -SAP Override issue

Willie,

Per our earlier conversation, can you or Audrey or Bryce, please give further
explain to me as to why the funds were wired to Perry Gas for purchases from
the counterparty instead on netting the amounts between purchases and sales.
You mentioned to me the process of overriding the counterparty's that net on
SAP, although because of timing, the override did not take place.

Thank you,

Russell


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/28/2000
05:09 PM ---------------------------

	Enron Capital & Trade Resources Corp. - Europe

	From:  Kirstee Hewitt                           07/28/2000 02:21 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject:

Again , I should have also sent the following mail yesterday.
...I guess now I should also apologise for filling up your mail box!
Have a good weekend,
Kirstee
---------------------- Forwarded by Kirstee Hewitt/LON/ECT on 28/07/2000
20:22 ---------------------------

	Enron Europe

	From:  Kirstee Hewitt                           27/07/2000 18:10

To: Cantekin Dincerler/HOU/ECT@ECT
cc: Grant Masson/HOU/ECT@ECT

Subject:

Hi - I have run the model for the 26th and have the following results :

I have also updated the correlations to include silver and the gold.
The TC delta (treatment charges) are positions only for copper conentrate and
do not
contain any positions due to zinc or lead.
Could you take a look at the figues as this is the first time I have done a
full run and
would like to make sure that I have done things correctly.
I will definitely call to discuss the prices for gold and cocoa beans - the
TC price curve is
another issue however, at the moment we do not have anything other than a
spot price and
a 1 year price so I think we will probably have to set it as a constant.
I have to talk to Andreas soon as he is awaiting my comments on point (2) of
his email that
I forwarded in my last mail.
Also, you will can see that I have subtracted any positions that are from R
Wolf in the Mercur download -
this was point (1) of his note.
As a quick question?
Do you think it is worth including Zinc concentrate (18400 dmt) and lead
concentrate (920 dmt) ?
I think we may need to check the TC price for these and the conversion for
the one given in the model for copper as
I think that the original historical price file (TChistory) is quoted in c/lb
- I guess this is cents/pound? rather
than $/dmt which is the units that position is quoted in .

Speak to you soon
Kirstee


Dale is working with the origination team on a deal named "Coyote II" (the
sale of the possibility of building a power plant near  the watermelon
growing capital of eastern Oregon).  The deal has reached one of several
"final stages" of great intensity and the idea of a basis swap has been
thrust into the commercial mixture as a possible solution to various
problems.  We very much need you help to sort through the issues.  It begins
with a question about characterization:  when Dale advised the team that
swaps had to go throug the Houston channels the response was:  "oh, its not a
financial swap,  its a physical swap.  So, here we go.---cgy
---------------------- Forwarded by Christian Yoder/HOU/ECT on 02/14/2000
08:26 AM ---------------------------

Laura Wente
02/11/2000 04:59 PM
To: Christian Yoder/HOU/ECT@ECT
cc:
Subject:

See the attached.


It is my understanding the outages Valero incurred at the above locations are
force majure situations during December and should not trigger the buyback
feature of the contract.

Gary, I have not seen any documentation of this from Valero. Please follow up
with your counterpart to secure the letter of notice or we will need to
process the deal as if the buyback is active.

Thanks

Ken


Vasant,

Yes, it's perfect. Please, indicate that the wording was unfortunate.

Vince

Vasant Shanbhogue
03/08/2001 11:20 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: RE: Weekly report

Hi Vince,

 regarding David Port's response to Kevin Kindall's email, I feel that I
should respond, at least to make our position clear.  Please indicate if the
following response is appropriate -------

"Hi David,

  I understand that you were slightly upset over a comment Kevin Kindall made
in one of his weekly reports.  The intention was never to disparage anybody.
It is just that since Research gets data from a large number of sources, we
feel obligated to the data donor to ask any requester for clarification of
need.  I completely understand that RAC typically has access to much
sensitive information and they have a right to know much information.  We
just want to make sure there is open flow of information (it is in
everybody's best interests and the company's best interests) and that
everybody is aware of how data is flowing.

Best wishes,
 Vasant"

---------------------- Forwarded by Vasant Shanbhogue/HOU/ECT on 03/08/2001
11:11 AM ---------------------------
From: David Port/ENRON@enronXgate on 03/08/2001 08:46 AM
To: Kevin Kindall/Corp/Enron@ENRON
cc: Vince J Kaminski/HOU/ECT@ECT, Vasant Shanbhogue/HOU/ECT@ECT, Rudi
Zipter/ENRON@enronXgate
Subject: RE: Weekly report

Kevin - thanks for the update.

On the Stock option Plans, if your angle is what I suspect, I suggest you get
with Rudi Zipter, who has done a great deal of work on this exposure,
including characterising and actually booking the short option positions in
Enron's equity system. We are already working with Ben Glisan's team firming
up a hedging program. We are well advanced in this effort so if you get with
my people it could save you a great deal of time.

Secondly, I am afraid I do take some exception to your references to Naveen's
team in your last point. Generally in RAC I don't believe we are obliged to
explain why we need information, except as a courtesy - otherwise that would
compromise our role somewhat. Specifically, I am aware of the sensitivity of
Raptor, just as I am of the sensitivity of all the information my group is
privvy to on a daily basis. Again, we have done a good deal of work on these
structures too (I see a position report daily). As I have discussed with
Vince, Naveen's request would have been derived from a discussion we all had
with Rick, concerning "meltdown" scenarios and their effect on, amongst other
things, funding vehicles.

But I would rather have had a conversation about this than see slightly
disparaging remarks about my people in email traffic.

Rgds
DP

 -----Original Message-----
From:  Kindall, Kevin
Sent: Monday, March 05, 2001 8:19 AM
To: Kaminski, Vince; Shanbhogue, Vasant
Cc: Port, David
Subject: Weekly report

 << File: March 2, 2001 Report.doc >>


A nice way to start a beautiful, sunny, pleasant day in your life today...
Have a good one...

> I've learned-
> > >>>    that we don't have to change friends
> > >>>    if we understand that friends change.
> > >>>
> > >>>    I've learned-
> > >>>    that no matter how good a friend is,
> > >>>    they're going to hurt you every once in a
> > >>>    while and you must forgive them for that.
> > >>>
> > >>>    I've learned-
> > >>>    that true friendship continues to grow,
> > >>>    even over the longest distance.
> > >>>    Same goes for true love.
> > >>>
> > >>>    I've learned-
> > >>>    that you can do something in an instant
> > >>>    that will give you heartache for life.
> > >>>
> > >>>    I've learned-
> > >>>    that it's taking me a long time to become
> > >>>    the person I want to be.
> > >>>
> > >>>    I've learned-
> > >>>    that you should always leave loved ones with
> > >>>    loving words.
> > >>>    It may be the last time you see them.
> > >>>
> > >>>    I've learned-
> > >>>    that you can keep going long after you can't.
> > >>>
> > >>>    I've learned-
> > >>>    that we are responsible for what we do,
> > >>>    no matter how we feel.
> > >>>
> > >>>    I've learned-
> > >>>    that either you control your attitude
> > >>>    or it controls you.
> > >>>
> > >>>    I've learned-
> > >>>    that regardless of how hot and steamy a
> > >>>    relationship is at first,
> > >>>    the passion fades and there had better be
> > >>>    something else to take its place.
> > >>>
> > >>>    I've learned-
> > >>>    that heroes are the people who do what has
> > >>>    to be done when it needs to be done, regardless of the
> > >>>    consequences.
> > >>>
> > >>>    I've learned-
> > >>>    that money is a lousy way of keeping score.
> > >>>
> > >>>    I've learned-
> > >>>    that my best friend and I can do anything or
> > >>>    nothing and have the best time.
> > >>>
> > >>>    I've learned-
> > >>>    that sometimes the people you expect to kick
> > >>>    you when you're down,
> > >>>    will be the ones to help you get back up.
> > >>>
> > >>>    I've learned-
> > >>>    that sometimes when I'm angry I have the
> > >>>    right to be angry,
> > >>>    but that doesn't give me the right to be cruel.
> > >>>
> > >>>    I've learned-
> > >>>    that just because someone doesn't love you
> > >>>    the way you want them to
> > >>>    doesn't mean they don't love you with all
> > >>>    they have.
> > >>>
> > >>>    I've learned-
> > >>>    that maturity has more to do with what types
> > >>>    of experiences you've had and what you've
> > >>>    learned from them and less to do with how
> > >>>    many birthdays you've celebrated.
> > >>>
> > >>>    I've learned-
> > >>>    that it isn't always enough to be forgiven by others.
> > >>>    Sometimes you have to learn to forgive yourself.
> > >>>
> > >>>    I've learned-
> > >>>    that no matter how bad your heart is broken
> > >>>    the world doesn't stop for your grief.
> > >>>
> > >>>    I've learned-
> > >>>    that our background and circumstances may
> > >>>    have influenced who we are, but we are
> > >>>    responsible for who we become.
> > >>>
> > >>>    I've learned-
> > >>>    that just because two people argue, it
> > >>>    doesn't mean they don't love each other
> > >>>    And just because they don't argue, it
> > >>>    doesn't mean they do.
> > >>>
> > >>>    I've learned-
> > >>>    that you shouldn't be so eager to find out a secret.
> > >>>    It could change your life forever.
> > >>>
> > >>>    I've learned-
> > >>>    that two people can look at the exact same
> > >>>    thing and see something totally different.
> > >>>
> > >>>    I've learned-
> > >>>    that your life can be changed in a matter of
> > >>>    hours by people who don't even know you.
> > >>>
> > >>>    I've learned-
> > >>>    that even when you think you have no more to
> > >>>             give,
> > >>>    when a friend cries out to you, you will
> > >>>    find the strength to help.
> > >>>
> > >>>    I've learned-
> > >>>    that credentials on the wall do not make you
> > >>>    a decent human being.
> > >>>
> > >>>    I've learned-
> > >>>    that the people you care about most in life
> > >>>    are taken from you too soon.
> > >>>
> > >>>    Send this to all the people YOU BELIEVE
> > >>>    In...
> > >>>
> > >>>    ...... I just did.
>
                  c o c o

::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
:::::::::::::::::::::

A small boy is sent to bed by his father. Five minutes later:
"Da-ad..."

"What?"

"I'm thirsty. Can you bring me a drink of water?"

"No. You had your chance. Lights out." Five minutes later:
"Da-aaaad..."

"WHAT?"

"I'm THIRSTY...Can I have a drink of water??"

"I told you NO! If you ask again I'll have to spank you!!"

Five minutes later... "Daaaa-aaaad..."

"WHAT??!!"

"When you come in to spank me, can you bring me a drink of water?"


Hi Angela

Sorry I did not get back in touch w you earlier - my mom passed away over the
holidays and I have been out of the office and don't know exactly when I will
be back (definitely out the week of 15th).   I look forward to playing and
will call you when I get back to play.


Prices should close above last month so we don't expect an imbalance revaluation hit in October.  We will continue monitoring prices, at this time the margin is too small to count for much.

Richard Hanagriff, at the staff meeting today TW linepack was too full, is this due to imbalance payback in?  If so who is doing it.  Call me and we will discuss.

 -----Original Message-----
From: 	Geaccone, Tracy
Sent:	Monday, October 22, 2001 10:43 AM
To:	Fancler, Dan; Moore, Jan
Cc:	Watson, Kimberly
Subject:	FW: imbal summaries
Importance:	High

Kim, what is the current projection for October index?  Dan, Jan, I would like for you two to estimate what the potentional impact could be for October close on the volumetric OBAs.  I would like to get something before we do the weekly this week.

Thanks
Tracy

 -----Original Message-----
From: 	Hanagriff, Richard
Sent:	Monday, October 22, 2001 10:00 AM
To:	Blair, Lynn; Corman, Shelley; Dietz, Rick; Fancler, Dan; Geaccone, Tracy; Giambrone, Laura; Hanagriff, Richard; Hernandez, Bert; Kowalke, Terry; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; McConnell, Mark; McEvoy, Christine; Minter, Tracy; Moore, Jan; Moseley, Debbie; Mulligan, Amy; Schoolcraft, Darrell; Ward, Linda; Watson, Kimberly; Y'Barbo, Paul
Subject:	imbal summaries

I will not be able to be at the meeting today.  Attached are the TW imbalances.  If you have questions please let me know.  I will be back in the office tomorrow morning.

thanks, richard

 << File: imbalsumm0110.xls >>


The following are my comments:

  - I assume that Settlements is fine with invoicing no later than the 7 th
of each mth.
  - Section M:  Should we go this route (covenant of financial support) or
would we be accomplishing the same if we structure this as MDEA, agent for
..., similar to that in the Interconnection Agmt.  We should probably look
into it further for the longer term deal.  I don't know which has the
stronger fall back to the municipalities.

Ed Sacks

Have a good rest of the weekend.

 -----Original Message-----
From:  Rorschach, Reagan
Sent: Friday, April 27, 2001 4:40 PM
To: Marvin Carraway (E-mail); Marvin Carraway (E-mail 2); Robert Priest
(E-mail); David Fairley (E-mail); David Fairley (E-mail 2); David Fairley
(E-mail 3); Bentley, Corry; Comeaux, Keith; Coulter, Kayne; Cross, Edith;
Fairley, David; Herndon, Rogers; Homco, Jim; Kumar, Madhup; Mann, Kay; May,
Tom; Miller, Jeffrey; Morse, Brad; Nicolay, Christi; Pagan, Ozzie; Podurgiel,
Laura; Reeves, Leslie; Sacks, Edward; Serio, Erik; White, Stacey; Will, Lloyd
Subject: FW: long form confirm/MDEA

Please send comments to Kay this weekend at both address below.

kay.mann@enron.com, kay.mann@worldnet.att.net

Thanks,

Reagan

 -----Original Message-----
From:  Mann, Kay
Sent: Friday, April 27, 2001 4:33 PM
To: Rorschach, Reagan
Subject: RE: long form confirm/MDEA

Here's where I am on the ILA.  I think it should be distributed internally
and to the Cities ASAP,  with an explanation that we are still pondering it.

Kay

 << File: MDEA ILA (Mann 4-27 draft).doc >>

Kay


UserName: CAMPB54792

You have an electronic trade confirmation in your Inbox.  To retrieve your
trade confirmation you may login to Datek Online and choose Document Delivery
from the Account Services menu, or you may click on the link below:

https://tumble2.datek.com/posta?x=1-5597588-5574353-8DL4Q7GR

You have received this message because you subscribed to electronic delivery
for your Datek Online account.  If you wish to stop receiving account
documents via electronic delivery, you may cancel your subscription by
logging into Datek Online and choosing "Settings" from the
Account Services menu.

For more information please call Customer Support at 1-888-U2-DATEK, or send
email to support@datek.com.

Thank you for trading with us.

Datek Online Brokerage Services
Member NASD / SIPC


A lunch meeting has been scheduled for Friday, May 12, 2000, from 11:30 a.m.
to 1 p.m. in 30C2.  An overview of the swap documentation  process will be
presented.  Please submit to Sara Shackleton by e-mail any issues you would
like addressed including specific confirmation or settlement issues.

Please let me know as soon as possible if you are going to attend this lunch
meeting (for catering purposes).

Thanks
Kaye


---------------------- Forwarded by Daren J Farmer/HOU/ECT on 06/29/2000
01:12 PM ---------------------------

	From:  Robert E Lloyd                           03/13/2000 02:28 PM

To: Howard B Camp/HOU/ECT@ECT
cc: Stacey Neuweiler/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT, Gary W
Lamphier/HOU/ECT@ECT
Subject: Valero Gas Marketing ; Meter #: 8018 / Sitara Ticket # 148376

 FYI...ONLY !

 Gary agreed to let the deficiency volumes hit the buyback that is set
presently.

---------------------- Forwarded by Robert E Lloyd/HOU/ECT on 03/13/2000
02:25 PM ---------------------------

	From:  Robert E Lloyd                           03/13/2000 02:09 PM

To: Gary W Lamphier/HOU/ECT@ECT, Stacey Neuweiler/HOU/ECT@ECT, Daren J
Farmer/HOU/ECT@ECT
cc: Pat Clynes/Corp/Enron@ENRON, Aimee Lannou/HOU/ECT@ECT
Subject: Valero Gas Marketing ; Meter #: 8018 / Sitara Ticket # 148376

  Effective March 11th  Valero has not pulled any gas on a 35.0/day
nomination.

  Do you want to arrange a buyback for this activity. There is a buyback
ticket { # 148381} available
  to handle any underage.

  I am being told this interconnect will be down 2-weeks; effective March
11th.


FYI - Gary P. Nunn is going to be playing New Year's Eve at Gruene Hall.

On the Ted front...It's Tuesday afternoon and I haven't contacted him yet.
I'm planning on calling him at home early this evening and telling him that
"a beer and a chat sound like a good idea, how about tomorrow night?".  I
will be requesting that he either call me at home tonight if he gets in early
enough or tomorrow at work.  This should all prove very interesting.

Susan


I am getting ready to send Michelle Blaine a question regarding some proposed
gifts that Mat Gimble and crew want to give the "new" Seminole Indian Chief.
Would you rather the question be sent by you?  If so, let me know and I will
explain, otherwise I will just copy you on the e-mail.

K-

Kathleen Carnahan
Enron North  America Corp.
1400 Smith Street, EB 3146d
Houston, TX 77002
Phone - (713) 345-3386
Fax - (713) 646-3037


Attached is an updated PR and IR Department contact list for use through this weekend.  It includes additional information for Beth Tilney.

Thanks.


Hi Dale,

I thought I'd send this along.  It is the first draft of the "break out"
contract for the ABB transformers which go with the LM's.  I thought Sheila
told me that your stuff is in immediate need to getting this and the LM break
out in shape.  This has not been reviewed with ABB yet (in fact, I haven't
read it yet), but just in case you want to give it a look, I thought I would
pass it along.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 10/26/2000 10:30
AM ---------------------------

"FAYE STEDMAN" <STEDF@andrews-kurth.com> on 10/25/2000 07:56:01 PM
To: <kay.mann@enron.com>
cc: "PAUL PIPITONE" <PIPIP@andrews-kurth.com>

Subject: ABB Transformer Purchase and Sale Agreement

Attached please find a clean copy of the ABB Transformer Purchase and Sale
Agreement as well as a blackline to show changes made from the WESTLB/ABB
Agreement.  Sorry for the delay in getting this to you. We have had to delete
the table of contents from the clean version in order to get this to you in a
timely fashion.  A completed version will be forthcoming sometime tomorrow.

If you have any questions or comments, please contact me at (202) 662-2780.

 - WESTLB-ABBblk.doc
 - WEST-LB-ABBcln.DOC


Sheung,
We will be opening an account at Morgan Stanley for Enron India LLC (a
Delaware Company).  They expect to participate in an IPO on June 13th for
Nasdaq shares.
Sara will be forwarding the documentation to you.
Sheila


With your retail short position in PJM, I assume we are short ICAP as well.   We should have your guys or Ader & Company follow-up on the 42 MW that is available.   Hopefully, it is in E PJM.

 -----Original Message-----
From: 	Malowney, John
Sent:	Thursday, August 09, 2001 4:48 PM
To:	Presto, Kevin M.
Subject:	PJM Reserve Capacity

Kevin;  Willamette Industries has 42 MW of "certified" available capacity within PJM that another Marketer has approached them about selling.  Is someone from Enron East interested in submitting a Bid?  Thanks,  John

PS:  I understand your brother took a job in our Real Time group, I'll have to introduce myself when I see him.


-----Original Message-----
From: 	Swisher, Stephen
Sent:	Tuesday, November 27, 2001 11:52 AM
To:	Olsen, Michael
Subject:	FW: Centana Storage
Importance:	High

Mike,
	I need a deal entered into Sitra and pathed for the sale of the Centana Storage to AEP.  See below.  Any questions, give me a call.  Thanks.

Stephen R. Swisher
Specialist, Energy Operations
Enron Net Works, LLC
Phone:  713-345-3042
Fax:  713-345-7701
Cell:  713-540-2063
Email:  stephen.swisher@enron.com

 -----Original Message-----
From: 	Wynne, Rita
Sent:	Tuesday, November 13, 2001 1:30 PM
To:	Pond, Jim
Cc:	Koerselman, Lisa; Lo, Connie; Swisher, Stephen
Subject:	RE: Centana Storage

Stephen,

Please get with Logistics to get a deal entered and pathed for this transaction.  If you have any questions, please let me know.  Thanks!

 -----Original Message-----
From: 	Pond, Jim
Sent:	Tuesday, November 13, 2001 1:29 PM
To:	Wynne, Rita
Cc:	Koerselman, Lisa; Lo, Connie; Swisher, Stephen
Subject:	RE: Centana Storage

The GL currently has 1,177,186 MMBTU @ $3,548,001.99.

I believe the sale took place in the facility.

 -----Original Message-----
From: 	Wynne, Rita
Sent:	Tuesday, November 13, 2001 1:05 PM
To:	Pond, Jim
Cc:	Koerselman, Lisa; Lo, Connie; Swisher, Stephen
Subject:	RE: Centana Storage

Jim,

Where did the sale take place?  Was it an in place sale at the facility?  Stephen is working on the reconciliation.  If he cannot have it completed by this close, then we will have unaccounted for until he finishes his reconciliation.  We will do everything possible to get it cleared this close.  What does the G/L currently have for the storage number?

 -----Original Message-----
From: 	Pond, Jim
Sent:	Tuesday, November 13, 2001 12:57 PM
To:	Wynne, Rita
Cc:	Koerselman, Lisa; Lo, Connie
Subject:	Centana Storage

Rita,

It looks like we will be making our Bammel true-up payment to AEP in the next couple of days.  Included in the payment to AEP is a deduction for the sale of the Centana storage gas.  We are selling them 1,236,286 MMBTU @ $2.375 for a total of $2,936,179.25.  The sale is for September, 2001 production.  We will need a deal put in Sitara for that sale along with the appropriate pathing from storage by logistics.  However, there is only 1,195,754 MMBTU on report 006 in Unify (for contracts 96018371, 96014189, and 96019236).  How do we account for this volumetic difference?  Connie will be truing up the GL to match the current Unify volume.  The GL was short approx. 18,000 MMBTU because a beginning balance was not booked.

This needs to happen before the upcoming close.

Thanks for you help in this matter.

Please let me know of any concerns.


ADMINISTRATIVE

EH&S Data  ) D. Willmann, David Ronkainen, and Sandra Maldonado developed
charts for Mike Terraso comparing EHS performance in 1999 and 3 quarters 2000
for the Caribbean, Latin America, and Southern Cone operations.  Data gaps
and reasons were identified.  Mike reviewed data with Rebecca McDonald.

Enron EHS/Operations Audit - M. Terraso has met with Don Hawkins(Senior
Director ETS audits) and Phil Lowry (MD ETS Operations) and Rebecca McDonald
regarding the current and possible alternative approaches to the Corp portion
of the Operations/EHS audit program.  Mike has developed and reviewed
verbally initial suggested improvements to the current audit, action plan and
implementation tracking process, including a greater corporate role.

Environmental Remediation Projects - D. Willmann and Scott Watson developed
summary for Mike Terraso of environmental remediation projects within Enron's
international operations.  Mike reviewed information with Rebecca McDonald.

Spanish Version of Enron,s Safety, Health and Environmental Guidelines )
Ramiro Garcia in conjunction with a consultant (Franco y Asociados) completed
Draft of Spanish version of the Guidelines.

Enron Corp. Safety Video Project Script  ) Scott Watson and Victor Colin shot
video footage for general Enron office personnel orientation and contractor
orientation videos on Dec. 7 & 8.

CALME

Puerto Rico, San Juan Gas - D. Willmann met with Bill Middleton, EECC, and
then by conference call with ThermoRetec personnel to review environmental
and safety aspects of the proposed conversion of the San Juan Gas facility to
operate on natural gas and the remediation work that is to be completed at
the San Juan Gas site.

Dominican Republic,  SECLP - D. Willmann met with Jonathan Ago to review the
environmental and safety perspectives of  the upcoming installation of a new
boiler at the Smith / Enron facility in Dominican Republic.

SOUTH AMERICA

Venezuela, Ventane Visit - Henry Van and Edgar Zuleta visited Ventane
facilities in Venezuela and gave workshops on EHS management system
optimization.

OEC / NORTH AMERICA

Medical Surveillance & Wellness Program ) Scott Watson met on 12/14/00 with
Dr. Holland and Mary Ann Roman De Meza to complete the Wellness section of
the Medical Surveillance Program.

Garden State Paper ) Scott Watson and Gus Eghneim conducted an EH&S Audit of
this facility in Garfield, New Jersey on 12/12/00.

+2000 Peaker Facilities (Lincoln Center, Gleason & Wheatland) ) Scott Watson
provided responses and pertinent information to Ross Newlin regarding
Safety/Health training issues at these facilities for Allegheny Power.

Semiannual Reports for Caledonia and New Albany ) Ramiro Garcia completed and
submitted to the state revisions to the semiannual environmental reports for
the first part of 2000.  Revisions included more detailed information (i.e.,
reasons) for each period of excess emissions.

REGULATORY TECHNICAL ANALYSIS

Texas Upset and Notification Environmental Notice - Marc Phillips distributed
an Environmental Notice to ETS personnel regarding the revisions to the Texas
upset and maintenance notification rules which are applicable to compressor
stations.

TNRCC Stakeholders Meeting - Marc Phillips attended a TNRCC stakeholders
meeting regarding draft revisions to a rule that would define maintenance and
also restrict the use of a general permit often used by ETS personnel to
authorize methane emissions from pipeline maintenance.

Sustainable Development Meeting - Marc Phillips represented Enron at the
Winter 2000 meeting of the Business Council for Sustainable Development -Gulf
of Mexico.

NPDES Multi-Sector General Permit --  Jim Peterson distributed an information
email on the EPA reissuance of the NPDES multi-sector general permit for
storm water discharges associated with industrial activities to Enron
environmental personnel in affected states.

DOT Amendments to Hours of Service (HOS) Regulations - Russell Tucker, with
assistance from Jeff Keeler, issued comments to the DOT on behalf of Enron
ETS concerning the adverse impact the current proposed amendments to the HOS
regulation would have on the company's ability to operate and respond to
emergencies without an unreasonable increase in operating costs.

Petition for Extension of Time - Russell Tucker asked the NAM OSHA Steering
Committee to consider joining Organization Resources Counselors, Inc. (ORC)
in asking OSHA through a letter of petition for an extension of time to
establish full compliance with the Ergonomics Program Grandfather clause .
The request is under NAM legal review to ensure standing suits against OSHA
in connection with the Ergonomics Program final rule would not be adversely
affected.

ANSI Z10 API Task Force Membership - Russell Tucker has accepted a request
from API to be a member of the task force who will act as a committee member
to the ANSI Z10 Full Committee starting proceedings to establish an
Occupational Safety and Health Management Systems Standard. This standard is
expected to be adopted as part of the international ISO certification
standards after acceptance by ANSI and likely to affect any revival of the
once proposed OSHA rule making on the same subject.

COMPETITIVE INTELLIGENCE

Clean Air - EPA Mercury Determination:   On Thursday, 12/14, EPA issued its
mercury determination, deciding there is a need to regulate mercury emissions
from power plants and laying out a timetable for developing the necessary
regulations.  EPA indicated that it would consider "flexible" measures for
complying with regulations, including trading, but no further details were
included in the determination.  Jeff Keeler provided information on this
regulation to Enron Americas power trading and origination, EGM
coal/emissions traders, EES and other corporate groups.

Clean Air - Section 126 Rule Litigation:   Federal District court in D.C.
will hear oral arguments on Friday, 12/15 on the EPA's section 126 rule,
which grants relief to northeast states who petitioned for greater control of
NOx at sources in "upwind" states.   The federal Section 126 rule is
scheduled to go into effect for sources in May 2003 -- 1 year sooner than
similar state-developed regulations will go into effect for the same sources
under the NOx SIP Call.  The outcome of the litigation is important because a
ruling for industry could give sources another year to plan for emissions
controls.  Jeff Keeler will issue a report on the litigation to Enron
Americas, EGM, EIM, EES, and other impacted corporate groups.

Power Quality/Distributed Generation:  Stacey Bolton and Mary Schoen
continued to provide assistance to EES' Premium Power group as they look at
environmental drivers for their business model.  Stacey delivered detailed
information on federal incentive programs for distributed generation and Mary
provided assistance and analysis of environmental regulations in EES' target
states.

EPA Green Power RFI:   Stacey Bolton provided information to EES (Richard
Ring) in response to an RFI for the supply of green power to EPA in Ohio.
(Part of the information that will be included in the RFI response will be
the Enron EHS annual report).   Stacey also talked with APX about their
exchange in Ohio and the potential for EES to price out a deal for green
credits to use in the potential deal w/ EPA.  APX is very interested in doing
a deal w/ EES, and has landfill credits for EES to bid on.  Stacey provided
this information to EES.

Renewable Energy Credits:  Stacey organized a conference call w/EGM and EES
supply desk to discuss potential partnerships with Clean Power Markets (Green
Credit Exchange and Verification company).  EES will likely become an anchor
customer of the exchange.  Followed up with Richard Shapiro, Jim Steffes and
Lisa Yoho regarding the potential partnership (Clean Power Markets had
originally approached Rick about a partnership & he passed it along to
Stacey.)

ADVOCACY/COMMERCIAL SUPPORT

Clean Air - NOx SIP Call:  Mary Schoen continued work on development of State
Implementation Plans (SIPs) in several key Enron States, including Illinois,
Tennessee, and Indiana.   States had until October 31, 2000 to submit SIPs to
EPA for approval or face preemption by federal NOx rules, but EPA informally
extended that deadline until the end of the year.  Mary is submitting
comments to these states as they prepare their final SIPs.
Tennessee:  will be less of a priority with the sale of the Brownsville
peaker to Cinergy, but the work done by Mary in the SIP development process
which gained allocation of allowances to Enron assets proved to be valuable
in the sale.
Indiana:  Mary is working with EES to ensure allocation of allowances to
"energy efficiency" projects, which could prove to have value for EES and
customers.

Environmental Disclosure/Labeling:   as EES will be entering Ohio on 1/1/01
in First Energy's territory, Stacey Bolton met with the EES reporting team
concerned about the label.   Stacey suggested that since First Energy is
doing the billing function for EES' customers, EES lay off the disclosure
requirement on First Energy (First Energy will also be purchasing and
delivering the power).  EES is attempting to implement this suggestion.   EES
is also actively looking at CG&E territory and needs to prepare a disclosure
label.  As Ohio's disclosure rule is ambiguous, Stacey has been coordinating
questions w/ Ohio PUCO staff regarding disclosure requirements.

Renewable Energy/Wind:  Stacey is working with Enron Americas West Desk on
trading opportunities for wind energy in the west.  DOE is organizing a
trading platform for the Western States, and Stacey provided information to
EA and is helping develop a strategy to optimize their value for wind energy.

Pipeline Safety Legislation:    In Congress' last minute efforts to pass
appropriations bills, rumors have circulated that there may be an attempt to
attach pipeline safety legislation.   Jeff Keeler worked to gather more
information on these efforts, and found that support of many key
congressional leaders for such an effort is missing.  Jeff forwarded to ETS
and others a letter sent by Senator John McCain (a key pipeline safety
proponent) to congressional leaders) urging that pipeline legislation not be
included in any appropriations bills.

GREENFIELD CAPITAL PROJECTS

Cuiaba Pipeline (Bolivia/Brazil)- Joe Kolb will be participating with
Catherine McKalip-Thompson (Enron Corp) in conducting a "lessons learned"
analysis for the Cuiaba Project  and Transredes oil spill.

Lagos EPP (Nigeria) - Joe Kolb reports that the refurbishing and conversion
of the power barges is behind schedule.  The first one is expected to go
online in March of 2001 and the last in November 2001.

RioGen/Eletrobolt PPs (Brazil)- Joe Kolb has discussed with Lauren Goldblatt
(Enron Corp) the perspective he gleaned from his inspection of the proposed
CEG pipeline that will provide natural gas to the RioGen/Eletrobolt
projects.  Lauren is working with Enron SA to arrange a community meeting.

ACQUISITIONS

Project Crane (Quebec, Canada and Port Angeles, Washington Pulp and Paper
Acquisition) -  Susan Worthen was notified by Gustavo Junqueira (Industrial
Markets Finance Manager) that this transaction has been approved by the Board
and Enron is in the final stages of negotiating the Share Purchase Agreement
with the Seller.  The Port Angeles, Washington mill will be excluded due to
environmental liability issues.  Additional environmental due diligence is
currently being conducted on timber properties located near Quebec that are
harvested for construction lumber.  Mark Greenberg (Industrial Markets
Attorney) is the interface on the due diligence.  Gustavo, Susan, and Bob
Anderson (Pulp and Paper Technical) met to discuss the transition process and
on-going EHS support.  Susan also took the opportunity to raise questions
regarding budgets and acquisition strategy for 2001. She agreed to provide
transition plans for previous EI projects to use as ticklers of items that
need to be addressed, such as payroll, conversion of accounting systems, HR,
etc. and will meet with Henry Van and his group to discuss transition and
operating support plans.

Project INGA (California and Pennsylvania Power Plant Acquisition) - Don
Stevens provided an interpretation of the impact of EPA's announcement
regarding the control (regulation) of mercury emissions.

Massey (JV Coal Mine) - The scheduled site visit by Don Stevens was cancelled
by Massey due to disclosure concerns regarding current civil suits.  Massey's
executive management apparently questioned Enron's interest in the spill
since it is not directly associated with the property transaction currently
being pursued.  Susan Worthen notified the project team and RAC
representative of the current status and learned that this transaction will
not be concluded by the end of the year and additional time would be
available in January to visit these issues.

North Carolina CF Power Plants - Don Stevens reviewed the ENSR draft Phase I
Environmental Site Assessment, dated December 2000, and provided additional
questions.  ENSR is currently conducting a limit Phase II and the report
should be available by December 22, 2000.

ISAGEN - Don Stevens reviewed Harza's "Technical Review of ISAGEN Generating
Plants" and reported to  Mario Brunasso.  It has been reported that the
Finance Minister of Columbia said that legal loopholes, possible changes in
the price-tag for ISAGEN, and the need to update paperwork related to its
privatization would now postpone the deal until June 30, 2001.

Project Canary - Don Stevens reviewed Pilko & Associates Environmental Risk
Identification for the Celgar Pulp Company.  Susan Worthen provided an
Environmental Risk summary for the project team to use in the DASH.

DEPARTMENT PROJECTS

EHS Web Site - The website is currently on-line. On Friday, December15th, we
will begin to promote the website on E-TV and also place a link to the site
on home.enron.com in the New and Notable section and in the Intranet Site
section.  Phase II planning is beginning. Phase II will contain streaming
video, an International Legislative and Regulatory Database, access to a
compliance management calendar and the remaining information from the
Environmental Strategies Group. Phase II role out still needs to be
determined and will be dependent on the availability of Enron Networks staff.

Telework/NEPI Program - Gavin Dillingham represented Enron at a meeting in
County Judge Eckels, office to discuss the National Telecommuting and Air
Quality Act with NEPI and the Philadelphia Steering Committee. Gavin is also
meeting with Elham Shirazi of NEPI and a representative from Enron,s
transportation group to discuss the possibility and feasibility of Enron
providing a Vanpool for its employees.

Lifecycle Process - Gavin Dillingham is continuing to work with Susan Worthen
and AD Little on determining Enron,s products and services for the lifecycle
study.  Financial market trading activities will be segregated from physical
market activities (those requiring a physical position in the market) and a
glossary of trading terms will be provided to make the document easier to
understand.  Additional refinements of the services will also be conducted to
streamline the inventory.

Asset Tracking Database - The database is currently being populated with
data. Susan Worthen will be following up on the revision of the asset list.

Annual EHS Report - Susan Worthen, Lauren Goldblatt, and Catherine
McKalip-Thompson discussed data needs for the 2000 annual report.  Lauren and
Susan met with Keith Micelli to gain insight on potential reporting issues
and contacts for Transredes and Cuiaba.  Lou Soldano and Susan Worthen agreed
to set up a meeting in early January to discuss EHS reporting of EOTT assets
with Frank Smith, Dave Nutt, and Bill Kendrick.


---------------------- Forwarded by Lisa Mellencamp/HOU/ECT on 02/18/2000
02:04 PM ---------------------------

"Rick Antonoff" <rantonof@cwt.com> on 02/17/2000 11:36:01 AM
To: Lisa Mellencamp/HOU/ECT@ECT
cc: "David Mitchell" <DMITCHEL@cwt.com>
Subject: Cross-Product Netting

Attached is our revised draft memorandum per your conversation yesterday with
David.
Please let us know if you would like to talk prior to tomorrow's meeting with
Credit.

Regards.
Rick

(See attached file: #108245 v1 - Enron--cross product netting memo (3).doc)

|------------------------------------------------------------------|
|NOTE:  The information in this email is confidential and may be   |
|legally privileged.  If you are not the intended recipient, you   |
|must not read, use or disseminate the information.  Although this |
|email and any attachments are believed to be free of any virus or |
|other defect that might affect any computer system into which it  |
|is received and opened, it is the responsibility of the recipient |
|to ensure that it is virus free and no responsibility is accepted |
|by Cadwalader, Wickersham & Taft for any loss or damage arising in|
|any way from its use.                                             |
|------------------------------------------------------------------|

 - #108245 v1 - Enron--cross product netting memo (3).doc


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 09/18/2000
11:08 AM ---------------------------
Stephanie Piwetz   09/18/2000 10:54 AM

To: Judy Hernandez/HOU/ECT@ECT
cc:
Subject: Magellan-Annex A

thank you
---------------------- Forwarded by Stephanie Piwetz/HOU/ECT on 09/18/2000
10:50 AM ---------------------------
Stephanie Piwetz   08/30/2000 10:38 AM

To: Leslie Smith/HOU/ECT@ECT
cc:
Subject: Magellan-Annex A

Leslie,
Per our conversation, Confirmation Letters that have an Attachment   Annex
A-General Terms and Conditions ("GTC")...

If an Enron Confirmation Letter is returned to us executed (full signature,
no changes made), but the Annex A is not attached, we do not have to see the
document.

We do have to see the Confirmation Letter if the Counterparty has made any
changes what so ever, including strike throughs or trader name changes.
If you have any questions please do not hesitate to call.

Thank you
Stephanie
Enron Power Marketing, Inc
x39210


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/26/2000
10:12 AM ---------------------------

Stinson Gibner
07/26/2000 09:36 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Offsite agenda: EBS

---------------------- Forwarded by Stinson Gibner/HOU/ECT on 07/26/2000
09:35 AM ---------------------------
From: Samer Takriti@ENRON COMMUNICATIONS on 07/25/2000 05:54 PM
To: Stinson Gibner/HOU/ECT@ECT@ENRON
cc:
Subject: EBS

Stinson,
Please take a look at it and feel free to make any necessary corrections.
Thanks.
-Samer


AGENT AA/LD BOOKING REF ZQ2B3N

                                          EB 3889

  DATE:  AUG 07 2001

SERVICE               DATE  FROM           TO             DEPART  ARRIVE

CONTINENTAL AIRLINES  01SEP HOUSTON TX     NEWARK NJ      940A    221P
CO 206     Q          SAT   G.BUSH INTERCO NEWARK INTL
                            TERMINAL C     TERMINAL C
                            SNACK                         NON STOP
                            RESERVATION CONFIRMED         3:41 DURATION
                  AIRCRAFT: BOEING 737-500
                            SEAT 08D NO SMOKING CONFIRMED TAYLOR/MARKE(ID

CONTINENTAL AIRLINES  19SEP NEWARK NJ      HOUSTON TX     450P    740P
CO 63      Q          WED   NEWARK INTL    G.BUSH INTERCO
                            TERMINAL C     TERMINAL C
                            SNACK                         NON STOP
                            RESERVATION CONFIRMED         3:50 DURATION
                  AIRCRAFT: MCDONNELL DOUGLAS DC-10 ALL SERIES
                            SEAT 19B NO SMOKING CONFIRMED TAYLOR/MARKE(ID

MISCELLANEOUS         17JAN HOUSTON TX
                      THU   ** THANK YOU FOR USING THE TAP **

RESERVATION NUMBER(S)  CO/VHYLT4

TAYLOR/MARKE  S0C0413R1056

CO  FREQUENT FLYER COSC471253
CONTINENTAL LOCATER (VHYLT4)
FARE/$172.85/NON REFUNDABLE/NOT GUARANTEED TILL TICKETED


missing deal for mike

sell aquila
Q3
25 mw
395.00
cob
on peak

thanks


Start Date: 3/31/01; HourAhead hour: 19;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001033119.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 19 / Preferred:   0.00 / Final:   0.00)
  TRANS_TYPE: FINAL
  SC_ID: ARCO
  MKT_TYPE: 2
  TRANS_DATE: 3/31/01
  UNIT_ID: CARBGN_6_UNIT 1

---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 3/31/01
  TIE_POINT: SYLMAR_2_NOB
  INTERCHG_ID: EPMI_CISO_DFISH
  ENGY_TYPE: NFRM


I already know "Soldier's Joy," the great instrumental about heroine, and
number 6 on the list. Why don't y'all learn that while I learn "Red Haired
Boy" and "Old Joe Clark"?

LATE!

>From: Cameron Sellers <cameron@perfect.com>
>To: "'Jeff.Dasovich@enron.com'" <Jeff.Dasovich@enron.com>
>CC: 'PP' <psellers@pacbell.net>, "'Prentice (Berkeley)'"
><psellers@haas.berkeley.edu>, 'Scott Laughlin' <scottwl@hotmail.com>
>Subject: Bluegrass Guitar - Top Ten Song List
>Date: Mon, 5 Feb 2001 18:06:07 -0800
>
>  <<Bluegrass Guitar - Top Ten Song List.url>> I found the list of songs
>you
>should request for the Lone Mountain Sisters Band.
>
>  http://www.bluegrassguitar.com/top10songs.asp
><< BluegrassGuitar-TopTenSongList.url >>

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


THERE will be a Friday Staff Meeting July 28, 2000.

    Date:  Friday July 28, 2000

    Time:  2:30 pm - 4:30 pm

    Location:  30C1

    Topic:    Combined Staff and Budget Meeting

Thanks,

Kay 3-0643


These are general conceptual concepts that need to be addressed.  I have not
attempted to redraft the language, only to point out areas where we will need
to work on modifications to the Contract language.

1. Section 5.01 Provision needs to be changed so that Termination Payment is
first paid by Company to Customer and if not paid by Company after notice,
then the Customer would be entitled to make a draw under the Surety Bond.

2. Section 5.03   Provision needs to be changed to reflect that the initial
bond term shall be __5__ years.  At the end of the initial term, the Company
shall either replace the bond with a new bond for remaining  term of
prepayment, provide a letter of credit for the remaining amount of
prepayment, or provide a corporate guaranty.

3. Section 7.01 This provision should be okay under the Commodity Futures
Modernization Act of 2000 enacted as of December 14, 2000.  The Customer
needs to represent to the Company that the Customer is an "eligible contract
participant" under the Act.

4. Section 10.02 10.02.05 - Company has no control on the substance of the
opinion of counsel for the surety bond provider.   The substance of such
opinion should be as negotiated between the bond providers counsel and the
Customer.   10.02.06  Should Customers inablility to get funding be an out
for the Customer?   10.02.08  Likewise, should the Customer's inability to
complete any swap agreements be an out for the Customer?

5. Section 21.01 21.01.02  Company should get aleast 5 business days notice
of nonpayment before the Customer should be entitled to cause an Early
Termination Date.  21.01.03  As previously noted in 5.03, Company should have
the option to provide alternative surety - as referenced in the Term Sheet.
Contract and Term Sheet need to be made consistent.

6. Section 21.03 and 21.04   Provisions of the Contract need to be consistent
so that all obligations of the parties are netted before any payment is
made.  Also 21.03 should first provide for payment by the Company and if not
made, then by the surety or other security provider.  We shouldn't have to
pay the Termination Payment to the Customer and then invoice the Customer for
any Market Exposure Damages under section 21.06.  These should be netted or
aggregated in computing the Termination Payment.


BUSINESS HIGHLIGHTS

Weather Risk Management
Next week, Jeff Shankman and Mark Tawney will be attending the Weather Risk
Management Association (WRMA) conference in Tokyo. There has been
a lot of interest in Japanese weather derivatives to-date.  Even though Japan
is geographically a relatively small country, due to elevation differences,
there are several different climates and within each of those areas, there,s
a significant amount of volatility in day-to-day and season-to-season
weather. By leveraging EnronOnline and our global portfolio approach, Enron
Global Markets will be the dominant weather market player in Japan, as we are
in
the US, Australia and Europe.

COMING SOON - New EWS Training Web Site
Ernie is retiring and there is a new tool to help you manage your
professional development. It,s called InvestInMe.enron.com and it is the key
to your future. In a
user-friendly format, you will find the current listing of internal programs,
access to a database of external programs, and registration for on-line
courses.
Watch for details in your email.  Launch date is Tuesday, March 6, 2001.

IN THE NEWS

Analyst Robert C. Ollech, vice president and portfolio manager at Ziegler
Investment Services Group, says Wall Street will like Enron even more as
demand for natural gas increases, volume continues to grow on its online
marketplace and as the company's broadband business starts making money.
Enron, which has beat analysts' estimates in five of the past seven quarters,
is not a cheap stock. But Ollech says its relatively young management team is
focused on maximizing systems and business lines it has spent five years
developing. Plus, the company is selling such assets as a power plant in
Oregon, moves Ollech says could boost its return on equity to 18% or higher
from the present 12%. "This is an innovative story that's finally getting
out," Ollech says. 02/25/2001  The Milwaukee Journal Sentinel.

WELCOME
New Hires
ENA ) Angelic Davis, Dipak Agarwalla, Sean Maki, Juliann Kemp, Bridget Fraser
EIM ) Louis Amo
Transfers
EGM ) Patrick Conner
EIM ) Douglas Seaworth
ENA ) Eric Feitler, Santiago Garcia, Philip Polsky, Lauren Schlesinger

NUGGETS & NOTES

&If you,re not trading EOL, you,re not trading.8 ) John L. Wilson, Vice
President/EGM

&Training(.all the cool kids are doing it!8 ) Tom Wilbeck/ENA

Congratulations to Michelle and David Vitrella, manager of trading/EGM.  They
are the proud parents of a baby girl born February 27 weighing
over 9 lbs.

NEWS FROM THE GLOBAL FLASH

International
World Watch
Compiled by David I. Oyama
Enron Seeks Deals for Japanese Assets
The Japanese unit of U.S. power producer and trader Enron is considering
asset swaps with Japanese power companies, in a deal that would make Enron
the first
foreign company to buy a Japanese power plant. An Enron Japan official said
it is talking to power companies and "owners of power generators in Japan
about
the possibility of asset exchanges," confirming a report in the Japanese
business daily Nihon Keizai Shimbun. The report also said Enron Japan may
enter deals
with Japanese companies for joint power-generation acquisitions abroad.
Japanese deregulation measures have opened the door to new foreign and
domestic
competitors in an industry dominated for years by 10 regional Japanese firms.
Enron Japan was established last May, two months after deregulation measures
were passed allowing nonutility companies to begin supplying power to large
commercial users such as shopping centers and office towers.
03/01/2001  The Wall Street Journal  (Copyright (c) 2001, Dow Jones &
Company, Inc.)

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.


I'm going to guess that it depends on whether you are giving a direct
donation (as in this case) or a replacement donation.  Since it is for a
specific patient, they may want to make sure it works, especially since it
will keep you from donating for a while.  Just a guess!


looks great


M O N D A Y   E V E N I N G   E X T R E M E   M A R K E T S
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Monday: The CRB Index has climbed 0.58 points to 188.97. The
US Dollar Index advanced 0.67 points to 117.08.

The Dow Industrials advanced 109.47 points, at 9976.46, while
the S&P 500 rose 12.41 points, last seen at 1151.06. The
Nasdaq Composite rose 35.84 points to 1934.42.
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The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes

Stock indexes closed higher on Monday as traders and investors
continue to gain confidence that the worst is behind us regarding the
economy. Expectations for an economic recovery during the first half
of 2002 along with U.S. military victories in Afghanistan also helped
support today's gains. The NASDAQ closed just above minor resistance
crossing at 1933.94. Multiple closes above this resistance level
would set the stage for a possible test of the 25% retracement level
of the 2000/2001 decline crossing at 2071.93 later this year. The
December S&P 500 index also closed higher on Monday and is poised to
test September?s high crossing at 1163.90 possibly on Tuesday.

The Dow closed higher on Monday as it extended last week?s breakout
above this summer?s downtrend line. The stage is set for a possible
test of the 62% retracement level of the May/September decline
crossing at 10,094.10 in the near future. Investors remain encouraged
by reports of U.S. military victories in Afghanistan and ideas that
the worse might be over for the economy.

INTEREST RATES http://quotes.ino.com/exchanges/?c=interest

December T-bonds posted an inside day with a modestly higher close
due to short covering following last Friday?s spike below the 75%
retracement level of the Sept./Oct. rally crossing at 104-29. Today?s
mid-range close leaves the door open for sideways trading on Tuesday.
I would not be surprised to see another day or two of consolidation
above last Friday?s high. However, momentum indicators are bearish
signaling that additional weakness is possible into the end of
November If the decline resumes, September?s low crossing at 102-17
is December?s next likely target.

The CRB INDEX http://quotes.ino.com/exchanges/?c=indexes

The CRB index closed higher on Monday due to strength in energies,
grains and livestock markets. However, closes above last week?s high
crossing at 190.46 are needed to renew this fall?s rally. Momentum
indicators are overbought and have turned bearish signaling that
sideways to lower prices are possible into the end of November.
Closes below last week?s low at 186.23 would extend the CRB?s decline
off last week?s high.

ENERGY MARKETS http://quotes.ino.com/exchanges/?c=energy

The energy markets closed higher on Monday with the exception of
crude oil due to short covering ahead of the close. Early weakness
was tied to indications that Russia is not considering any cuts in
production. However, a short covering rebound in the markets ahead of
the close as traders begin to square some of their short positions
ahead of Tuesday?s API inventory report erased early losses.

December crude oil closed lower on Monday but near session highs due
to a bounce ahead of the close. Early weakness led to a spike below
the 75% retracement level of the 1998/2000 rally crossing at 16.83.
Closes below this support level could lead to a test of the January
1999 reaction high crossing at 13.75 later this year. Momentum
indicators are bearish signaling that additional weakness is still
possible into the end of November.

December heating oil closed slightly higher on Monday due to a short
covering bounce ahead of the close. Session lows fell short of
testing the 75% retracement level of the 1999/2000-rally crossing at
48.50. Monday?s high-range close leaves the door open for additional
short covering on Tuesday ahead of this week?s API inventory report.
Momentum indicators are bearish signaling that additional weakness is
possible into the end of November.

December unleaded gas posted a key reversal up on Monday. However,
today?s short covering bounce fell short of testing broken support
crossing at 51.87. I would not be surprised to see additional short
covering on Tuesday as December consolidates some of its recent
losses. However, the door remains open for a possible test of the
June 1999 low crossing at 47.00 later this month. Momentum indicators
are bearish signaling that sideways to lower prices are possible
near-term.

December Henry Hub natural gas closed higher on Monday confirming
last Friday?s upside reversal. Forecasts calling for colder
temperatures to move across the high demand regions of the country by
the end of November prompted today?s short covering rally. Closes
above last week?s high crossing at 2.87 would greatly increase the
odds that last week?s low marked a double bottom with October?s low.
Short- term momentum indicators are oversold and turning neutral to
bullish hinting that a low is in or near.

CURRENCIES http://quotes.ino.com/exchanges/?c=currencies

The December Dollar gapped up and closed higher on Monday but ended
the day below last Wednesday?s high at 117.05. Closes above this
resistance level are needed to confirm a breakout above this falls
trading range. Profit taking ahead of the close erased most of
today?s gains while leaving the door open for a setback on Tuesday.
If today?s gap were filled, it would indicate that the gap was an
exhaustion gap and today?s high was nothing more than a spike above
trading range. Stochastics are bullish but becoming overbought
hinting a short-term top might be in or is near.

The December Swiss Franc closed lower on Monday but near session
highs due to a late-day bounce. Closes above last Friday?s high at
.6045 would renew its short covering bounce off last Wednesday?s low.
Closes below last week?s low at .5961 are needed to renew December?s
decline and set the stage for a likely test of the 50% retracement
level of the July/September rally crossing at .5944. Momentum
indicators are bearish signaling that additional weakness is possible
during the later part of November.

The December Canadian Dollar closed modestly higher on Monday as it
extended last week?s breakout above October?s broken downtrend line.
Today?s low-range close leaves the door open for sideways trading on
Tuesday. If the rebound off last week?s low continues, the 25%
retracement level of the July/November decline crossing at .6322 is
December?s next upside target. Momentum indicators are bullish
signaling that sideways to higher prices are possible near- term.

The December Japanese Yen closed below October?s low crossing at
.8132 on Monday thereby opening the door for additional weakness into
the end of November. If the decline off September?s high continues,
July?s low crossing at .8060 is a potential target later this year.
Stochastics and the RSI are bearish signaling sideways to lower
prices are possible into the end of November.

PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

December gold spiked below August?s reaction low crossing at 272.60
before a short covering bounce tempered some of today?s losses.
Closes below this key support level would open the door for a
possible test of August?s reaction low crossing at 268.40 later this
year. Strength in the U.S. Dollar and equities provided much of
today?s pressure on the market. Stochastics and the RSI are bearish
signaling that additional weakness is possible into the end of
November.

December silver posted a new low close for November, as it appears
poised to renew this fall?s decline following the recent breakout
below key support crossing at 4.15. Close below 4.055 cents would
open the door for a test of weekly support crossing at 3.90 later
this month. Momentum indicators are bearish signaling that sideways
to lower prices are possible near-term.

December copper closed higher on Monday confirming last Friday?s key
reversal up. However, today?s low-range close leaves the door open
for a possible setback on Tuesday. Closes above last week?s high at
69.60 are needed to renew December?s rebound off November?s low.
Closes below 66.70 would all but confirm that a short-term top has
likely been posted. Short-term momentum indicators are bullish but
becoming overbought hinting that a round of profit taking could begin
later this week.

GRAINS http://quotes.ino.com/exchanges/?c=grains

March corn gapped up and closed higher on Monday due to technical
buying. Session highs tested the bottom of October?s gap crossing at
2.21 1/2. Closes above this resistance level would likely trigger
additional fund short covering now that this year?s harvest is almost
wrapped up. However, it will take closes above the top of October?s
gap crossing at 2.25 1/4, which coincides with this summer?s
downtrend line to confirm a bottom and trend change has taken place.
Momentum indicators are bullish signaling that sideways to higher
prices are possible into the end of November.

March wheat closed fractionally higher on Monday as it extended last
Friday?s impressive rally. I would not be surprised to see a steady
to lower close on Tuesday as March might try and consolidate some of
its recent gains. Stochastics and the RSI have turned bullish
signaling that sideways to higher prices are possible into the end of
November. If the rebound off last week?s low continues, October?s
high at 3.03 is March?s next target.

SOYBEAN COMPLEX http://quotes.ino.com/exchanges/?c=grains

January soybeans closed fractionally lower on Monday due to light
profit taking after filling October?s gap at 4.54 in early trading.
Additional pressure came from spillover weakness from soybean meal
however, losses were limited due to light producer selling. Closes
above today?s high are needed to open the door for a larger-degree
post-harvest rebound that could last into the end of the year.
Momentum indicators remain overbought while trend-following
indicators such as the ADX are entering bullish trend modes signaling
that sideways to higher prices are possible.

December soybean meal closed sharply lower due to profit taking on
Monday after testing the upper boundary of the October/November
trading range crossing at 167. Today?s low- range close leaves the
door open for additional selling on Tuesday. Until December closes
above 167, it will remain a trading range affair.

LIVESTOCK http://quotes.ino.com/exchanges/?c=livestock

February hogs closed higher on Monday but near session lows due to
bull spreading by commercials and funds. Continued weakness in the
cash market along with spillover selling late in the day from bellies
also tempered early gains. If the rebound off last week?s low
continues, the early- November high crossing at 55.12 is February?s
next target. Closes above this resistance level are needed to extend
February?s rally off October?s low. Momentum indicators are neutral
to bullish hinting that sideways to higher prices are possible into
the end of November.

February cattle closed higher on Monday for the fifth day in a row
despite most traders calling last Friday?s cattle-on- feed report
bearish. February?s ability to rally on bearish news confirms that
the early-November decline had already factored in last Friday?s
bearish report. Profit taking ahead of the close tempered some of
today?s gains leaving the door open for sideways trading on Tuesday.
Closes above the September/October downtrend line crossing near 70.50
are needed to confirm a bottom and trend change has taken place.

FOOD & FIBER http://quotes.ino.com/exchanges/?c=food

March coffee closed lower on Monday due to first-notice day sales by
hedgers. With the market closed Thursday and Friday, today?s losses
might have been somewhat exaggerated. March needs to close above last
week?s high, which coincides with the 25% retracement level of the
May/October decline crossing at 53.04. Multiple closes above this
resistance level are needed to open the door for a larger-degree
rebound into the end of the year. Closes below last week?s low at
47.50 would confirm that a short-term top has been posted.

March cocoa closed higher on Monday but near mid-range as it
consolidates above last February?s high at 1257. If this resistance
level is cleared, the March 1999 reaction high crossing at 1341 is
March?s next upside target. Momentum indicators have become
overbought while trend-following indicators such as the ADX are
bullish signaling that sideways to higher prices are possible into
the end of November. Today?s mid-range close leaves the door open for
sideways trading on Tuesday.

March sugar closed higher on Monday and appears poised to test the
50% retracement level of the June/October decline crossing at 755
later this month. Weekly momentum indicators remain bullish signaling
that sideways to higher prices are possible into late-November.
Closes below last Wednesday?s gap crossing at 726 would increase the
odds that a short- term top has likely been posted.

March cotton closed lower on Monday amidst selling ahead of first
notice day. Heavy commercial and producer selling on Monday
overshadowed last Friday?s bullish export report indicating that the
short covering rebound off October?s low might be coming to an end.
While export demand has been strong with cumulative sales running at
83.3% of USDA?s projection compared with 61.9% for this time of near,
this year?s bumper U.S. crop will continue to limit near-term upside
potential in the market. Momentum indicators are bullish but
overbought warning bullish traders to use caution. Closes below last
Thursday?s low at 35.00 would confirm that a short-term top was
posted last Wednesday.

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I N O   N E W S
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CBOT T-Bond Volume And Open Interest Jumps
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Hong Kong, Shanghai And Shenzhen Start Joint Data Service
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CFTC Seeks To Suspend Midland Euro Of California
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CME Reduces Thresholds For Eurodollar Block Trading
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CME Receives Favorable IRS Ruling For Holding Company
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E X T R E M E   F U T U R E S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/futures/

WINNERS

NGZ1   Henry Hub Natural Gas Dec 2001              2.791     0.173  +6.56
HOU2   Heating Oil Sep 2002                       0.5527    0.0244  +4.45
NDZ1   NASDAQ 100 Index Dec 2001                 1628.00     42.00  +2.65
XHZ1   Lean Hogs Dec 2001                          49.20      1.15  +2.39
LHZ1   Lean Hogs Dec 2001                         49.200     1.150  +2.29
XLZ1   Live Cattle Dec 2001                        66.27      1.45  +2.23
PLF2   Platinum Jan 2002                             437       9.1  +2.13
LCZ1   Live Cattle Dec 2001                       66.275     1.350  +2.08
NKM2   Nikkei 225 Stock Avg Jun 2002               10815       220  +2.08
SIZ5   Silver Dec 2005                             4.429     0.089  +2.00

LOSERS

PNF2   Propane Jan 2002                           0.2950   -0.0250  -8.00
KCZ1   Coffee 'C' Dec 2001                         45.95     -3.65  -7.50
SCF2   Brent Crude Oil Jan 2002                    18.00     -0.56  -3.15
CLN2   Light Sweet Crude Oil Jul 2002              19.61     -0.60  -3.09
XOK2   Oats May 2002                             191 1/2    -5 1/2  -2.83
HUJ2   New York Harbor Unleaded Gasoline Apr 20    0.5980   -0.0098  -1.65
XEZ1   Soybean Meal Dec 2001                       163.2      -2.6  -1.57
OK2    Oats May 2002                             191 1/2        -3  -1.54
CTZ1   Cotton Dec 2001                             34.09     -0.51  -1.47
SMZ1   Soybean Meal Dec 2001                       163.2      -2.4  -1.45

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E X T R E M E   S T O C K S
____________________________________________________________________________

Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/

WINNERS

SCMM   SCM MICROSYSTEMS                          11.7500    3.6300  +43.89
LSBC   LARGE SCALE BIOLOGY                        5.4000    1.4386  +39.96
JAZZ   JAZZTEL PLC ADS                            6.3000    1.7400  +37.42
HAND   HANDSPRING INC                             5.4100    1.4090  +35.23
CANI   CARREKER CORP                              5.8700    1.4799  +34.34
DITC   DITECH COMMUNICATIONS CORP                 6.0700    1.4800  +32.10
LCBM   LIFECORE BIOMEDICAL                       12.2200    2.8900  +29.49
ORCI   OPINION RESEARCH CORPORATION               6.0800    1.2700  +26.40
REXL   REXHALL INDUS                              6.2200    1.2800  +25.91
INVN   INVISION TECHNOLOGIES                     18.4200    3.6480  +24.60

LOSERS

RDY    DR. REDDY'S LABS ADS                        17.55     -4.09  -18.98
BTY    BRITISH TELECOM                             42.25     -8.35  -16.53
RLRN   RENAISSANCE LEARNING INC                  25.8800   -4.6550  -15.23
ICTS   ICTS INTL NV                               6.7000   -1.2000  -15.19
VINT   GOLDEN STATE VINTNERS'B'                   5.4000   -0.8200  -14.91
SNAP   SYNAPTIC PHARMACEUTICAL                    5.6500   -0.7700  -13.05
CRY    CRYOLIFE INC                                26.69     -3.91  -12.78
HLEX   HEALTHEXTRAS INC                           6.1600   -0.8200  -12.62
LWAY   LIFEWAY FOODS INC                          5.7295   -0.8000  -12.12
RMCI   RIGHT MGMT CONSULTANTS                    19.2000   -2.6400  -12.04
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Sara,

We're waiting on Shifali Sharma for this info.  She is our Risk person for
the Crude Desk.  There are going to be quite a few Traders and Books.  All
deals that are Financial will be booked as ENA (RMT if internal).  I'm not
sure if that's what your looking for as far as question 3 below.

We'll forward the other info along as soon as we get it.

Joe

From: Sara Shackleton on 02/12/2001 11:19 AM
To: Larry Joe Hunter/HOU/ECT@ECT
cc:
Subject: WTI-Brent trades

Joe:  Can you provide me with this information please?  Thanks.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 02/12/2001 11:19 AM -----

	Sara Shackleton
	02/08/2001 09:57 AM

		 To: Larry Joe Hunter/HOU/ECT
		 cc:
		 Subject: WTI-Brent trades

Joe:  A few questions:

1. Who trades this?
2. What book does it sit in?
3. What legal entity is that book?

Please let me know as we are comparing this to another product.  Thanks.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


--------- Inline attachment follows ---------

From: U-MSMBX01V.CORP.E
Date: 01V.CORP.EDD4BEA3F5113AE5@NAHOU-MSMBX01V.CORP.E?????????????????????????????????????????????????????????????????????????????????????????????????????????????????
Subject:


Scheduled by Jillian Orr