For your use if the materials don't make it here in time.  Mark
----- Forwarded by Mark E Haedicke/HOU/ECT on 09/06/2000 09:18 AM -----

	Corrinne Greasley <CGREASLEY@isda.org>
	09/05/2000 11:54 AM

		 To: ISDA BOARD <BOARD@isda.org>
		 cc: Angela Papesch <apapesch@isda-eur.org>, Camille Irens
<cirens@isda-eur.org>, David Lafleur <DLAFLEUR@isda.org>, Emmanuelle Sebton
<esebton@isda-eur.org>, Nick Collier <ncollier@isda-eur.org>, Richard Grove
<RGROVE@isda.org>, Richard Metcalfe <rmetcalfe@isda-eur.org>, Robert Pickel
<RPICKEL@isda.org>, Ruth Ainslie <RAinslie@isda.org>, Mary Cunningham
<MCUNNINGHAM@isda.org>
		 Subject: Materials for the Board Meeting

Dear All:
Written materials for the meeting scheduled for September 13, 2000 were sent
to the Board by express mail on Friday.  Attached please find the executive
summary, the table of contents and some of the materials contained in the
Board book.

I can be reached by reply email or by telephone on 212 332 1200 should you
encounter any problems accessing the attached documents or if you would like
to confirm your attendance at the Board meeting.

Regards
Corrinne

Executive Summary and Table of Contents
 <<Executive Briefing September 2000.doc>>        <<Table of Contents
Sept2000.doc>>

Operations Benchmarking Survey
 <<OBS Sep 2000 Board.doc>>

ISDA's Committees Agenda and Timelines
 <<all committees.doc>>

ISDA's view on a Single European Regulator

 <<wise men mandate july 2000.doc>>  <<wise men questionnaire aug 2000.doc>>
 <<wise men consultation letter aug 2000.doc>>  <<board book wise men item
sep 2000.doc>>

Energy Committee
 <<memo to ERDreMtg 11Sep.doc>>    <<agenda for 11Sep mtg.doc>>    <<ISDA
European Energy Committee.doc>>

European Regulatory Committee

 <<ISD  - paper on communication 4 august  2000.doc>>

South East Asia and Hong Kong Committee

 <<gitic.doc>>  <<gitic1.doc>>

 - Executive Briefing September 2000.doc
 - Table of Contents Sept2000.doc
 - OBS Sep 2000 Board.doc
 - all committees.doc
 - wise men mandate july 2000.doc
 - wise men questionnaire aug 2000.doc
 - wise men consultation letter aug 2000.doc
 - board book wise men item sep 2000.doc
 - memo to ERDreMtg 11Sep.doc
 - agenda for 11Sep mtg.doc
 - ISDA European Energy Committee.doc
 - ISD  - paper on communication 4 august  2000.doc
 - gitic.doc
 - gitic1.doc


-----Original Message-----
From: 	Gerry, Robert
Sent:	Wednesday, January 16, 2002 11:47 AM
To:	Sturm, Fletcher J.; Ballato, Russell; Kaniss, Jason
Subject:	if work ever gets you down..

If your job ever gets you down, just click the link below.

http://www.studentmagazine.com/thisweek/thisweek_article.asp?articleID=213


You won't get me to bet on this one.

"Keffer, John" <JKeffer@KSLAW.com> on 12/21/2000 09:25:40 AM
To: "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc:

Subject: RE: Intergen transaction - DASH

I hope they agree to the escrow

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, December 20, 2000 6:27 PM
To: Keffer, John; Campbell, Carolyn
Subject: Intergen transaction - DASH

---------------------- Forwarded by Kay Mann/Corp/Enron on 12/20/2000 06:30
PM ---------------------------

Fred Mitro@ECT
12/20/2000 06:22 PM

To:   Randy Petersen/HOU/ECT@ECT
cc:   Ben Jacoby/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron, Lisa
      Bills/Corp/Enron@ENRON

Subject:  Intergen transaction - DASH

Randy:

Based upon our discussions with Intergen this afternoon, there is a desire
of both Enron and Intergen to execute the transaction documents tomorrow
afternoon.  I need to determine if RAC believes that the 11/30/00 [Coral
Energy] DASH is sufficient for the transaction signing to proceed tomorrow
or if a revised DASH needs to be prepared and circulated for re-approval.

Relative to the approved 11/30 DASH, the major changes in the deal
structure are as follows:

1.  At the request of Coral Energy, the counterparty to the proposed
transaction has changed from Coral Energy to Intergen (or its designated
affiliate, Sweetgum Energy L.P.).

2.  Intergen has requested, and Enron has agreed, to the removal of the
requirement for an Intergen Parent Guarantee.  The major risk (i.e.
non-payment risk) associated with the removal of this Guarantee has been
mitigated by requiring Intergen to fund an escrow account with the
transaction sales proceeds prior to Enron's execution of the equipment
Assigment Agreement.

3.  Intergen has requested, and Enron has agreed, to the insertion of a
"no-shop" clause which serves to prevent Enron from offering/soliciting the
turbines & transformers to other parties once Intergen has signed the
Letter Agreement(s).

4.  Enron has requested, and Intergen has not yet agreed, to the
modification of the transaction "sunset dates".  These are the dates by
which, once the Letter Agreement is signed, that Enron must deliver the
required Facilities Agreements, GE acknowledgement letter, and fully
executed Assignment Agreement.  This modification proposes that the dates
be moved from 12/29/00 to 1/15/01.  The Enron commercial deal team is
awaiting confirmation from Enron Global Finance that the executed
Assignment Agreement can be delivered within these timeframes.

5.  Intergen has requested, and Enron has agreed, to a modification of the
Transferability section of the Agreement in order to address an equipment
warranty risk that the current language represents to Intergen.  The
modification would serve to limit Enron's ability to exercise its "put
option" on its 20% member interest in the turbine/transformer L.L.C.(s) by
requiring either: 1) the expiration of the GE warranty, or 2) the written
consent of GE to Enron's ownership transfer in a form acceptable to
Intergen.  This modification is acceptable to Enron as it represents an
earlier potential put option exercise date under scenario 1) above than the
current Agreement language.

Please review this information and let me know (via email) if RAC requires
the DASH to be revised and re-approved.

Call me to discuss.

Fred
x35406

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


pls print for my wed. mtg.  thanks. df
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 02/07/2000
04:43 PM ---------------------------

	From:  Randy Rice                           02/07/2000 02:42 PM

To: Randy Rice/OTS/Enron@ENRON
cc: Kent Miller/ET&S/Enron@ENRON, Glen Hass/ET&S/Enron@ENRON, Ryan
Choquette/ET&S/Enron@ENRON, David Kolarik/ET&S/Enron@ENRON, Charlie
Graham/ET&S/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON, Larry
Swett/ET&S/Enron@ENRON, Rod Maybee/OTS/Enron@ENRON, Glenn
Lewis/OTS/Enron@ENRON, Guy Bruner/ET&S/Enron@Enron

Subject: Re: Conference call number for Cunningham Electric Contract
discussion

Here are the documents we will be discussing on our conference call. Our
"talking points" are in RED.
thanks R2


fyi
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/14/2000 01:57
PM ---------------------------

Kay Mann
11/14/2000 12:18 PM
To: ppipitone@andrews-kurth.com, peterthompson@akllp.com
cc:

Subject: ABB/GE

Gentlemen,

Things are heating up, no pun intended. Therefore, it would be helpful if you
would prepare a closing list for the GE turbines moving out of WestLB.  I
know it is short, but I thrive on lists.

I cannot tell you how many calls I've swapped with ABB's rep about that
contract, without ever hooking up.  I see that we will be facing a fire drill
quickly in getting at least some of these transformers into the right
financing vehicle.  Therefore, please prepare a list of site specific issues
for that document as well.

Thanks,

Kay


To All:
Here is the presentation Don and I put together for Dave's meeting with Mark
Frevert next Thursday.  He has seen it and has signed off on it.  Don will be
out most of the week coming back potentially Thursday and I will be getting
back around 3:30pm on Wednesday.  If there are any last minute changes please
leave me a message or talk to Jinsung.  Thanks and have a good weekend.
Ben
3-7998


I need your help...  I did a quick comparison for the 2000 and 2001 budget
and I am showing a significant increase from last year.  Did we have an
increase in headcount?  I do not know your actual budget for 2000.  I used
the information for the last 5 months of 2000 budget to estimate for the year
(see 2000 Budget tab in the attached file).  The attached file contains the
following tabs:

 Budget vs Budget Comparison of 2000 vs 2001
 Allocation  Allocation - please allocate the rest of the 21.7% to ENA
 2000 Budget  Estimated 2000 budget based on the last 5 months information
 Research  2001 budget

The calculation for taxes and benefits does not equal to the calculation in
your template (Corp).  Plus, I have to add A&A overhead cost that Corp will
bill us for A&A program (line 78).  Can we meet to discuss the allocation to
ENA and the increase in plan?  I am open all week except for Wednesday
between 10 and 11.  Thank you.


Please add to my calendar
 -----Original Message-----
From: 	Watson, Kimberly
Sent:	Friday, March 22, 2002 2:46 PM
To:	Corman, Shelley
Subject:	RE: Lunch

Great.  I'll put 11:30 on my calendar.

Kim.

 -----Original Message-----
From: 	Corman, Shelley
Sent:	Friday, March 22, 2002 12:58 PM
To:	Watson, Kimberly
Subject:	RE: Lunch

How about Monday?

 -----Original Message-----
From: 	Watson, Kimberly
Sent:	Friday, March 22, 2002 11:40 AM
To:	Corman, Shelley
Subject:	Lunch

Shelley,

Congratulations!  TW has a great marketing department and I know that you will enjoy working with everyone.  Can we schedule lunch next week?  I would love to visit with you and share with you some of the things we have been working on to ensure a smooth transition.  I am available on Monday, Wednesday or Friday.  Tuesday is possible, I would need to move another appointment.

Thanks, Kim.


To:	NERC Roster
	Standards
	Operating Manual
	System Operator Training

You are invited to participate in one of three workshops designed to
solicit input into training
issues which will help NERC understand what operating and marketing
personnel feel they need in
the way of training programs and study materials.

Attached is the announcement and registration form. The announcement is
also posted at the
following NERC web site: http://www.nerc.com/~filez/workshops.html

Let me know if you have any questions.

Sincerely,

Glenda Rodriguez


It would be better if Scot contacted EBS directly about a meeting.  Kevin
Hannon would be the right person.  Kevin is the President and COO.  I have no
idea about whether they are in need of Spectrum's services or not.  Let me
know when you plan to be in Dallas.  My daughter has a horse show (we own
three Arabian Horses that she shows) in Fort Worth in mid June and I will try
to get up there for at least some of it.

"Terry Johnson" <tjohnson@spectrum-tele.com> on 05/07/2001 09:59:38 AM
To: "Stan Horton \(E-mail\)" <stanley.horton@enron.com>
cc: "Scott Brown \(E-mail\)" <sbrown@spectrum-tele.com>

Subject: Received your Letter re:Enron

Stan;
I got your letter and company info, thanks. By the way, our President, Scott
Brown, is going to be in Dallas on the 16th and 17th of May making a
presentation to Worldcom. I thought I would check with you to see if any of
your people with Enron Broadband might be able to meet briefly with Scott on
the 15th (Tuesday) or 18th (Friday, which would be better) in Houston to
discuss our services. If they can meet just let me know dates and times and
I'll coordinate with Scott.

I still plan to be in Dallas to see Hugh King sometime in mid to late June,
and I will plan to stop down in Houston while I'm there and we can try to
get together. Thanks,

Terry


will someone be sending us the report?


This is for you. Sorry I sent to another Karen.  Fortunately she is in my
group and I was able to go the machine since she was not at work and
eliminate it from the mail and trash shortly thereafter.

Attached is a draft proposal for the Chairman, pls. review and share
comments! Thank you in advance for your anticipated cooperation.


Please find attached last Thursdays European information to be posted on
Enrononline.
---------------------- Forwarded by Suryan Wirya Simunovic/LON/ECT on
12/06/2000 17:55 ---------------------------

Suryan Wirya Simunovic
08/06/2000 15:22
To: "Jon Gilchrist" <jgilchrist@viant.com> @ ENRON
cc: <vbedingf@enron.com>@ENRON, "Bob Shults" <Bob.Shults@enron.com>@ENRON,
<Daniel.Diamond@enron.com>@ENRON, "Nick Mooney" <Nick.Mooney@enron.com>@ENRON

Subject: EnronOnline European Content

Jon,
Here are more content files from the European Desks.  I have also attached a
summary sheet with all the information you should have received from us
(marked in Green).   We still have some stragglers, but they should submit by
Friday our closing.  I understand Victoria already sent you most of the
weather information  earlier in the week.

If you have any question please let me know.
Regards
Suryan


In my summer update about the acquisition of MG Plc and the integration of
the metals business into Enron, I reported that we were aiming to complete
the integration by the end of the year. I am pleased to report that we are
well on the way to meeting this target.

September was a busy month for the metals business as it brought with it both
the co-location of the London and Tokyo-based metals staff with Enron,s
offices and the first quarter of combined reporting under Enron Europe.
Ensuring a smooth transition for both the metals staff and the metals systems
into our London headquarters took a tremendous amount of co-ordination by
teams across the company on the part of the former MG team and the
integration team at Enron Europe.  Nevertheless, &D-Day8 arrived with minimal
problems and the metals team open for business as usual on the morning of
September 18th.

Another key initiative that commenced during September was the re-positioning
of the MG worldwide metals business as Enron Metals. With the exception of
the Henry Bath & Son Limited warehousing division, which will remain as
currently named, the re-branding initiative was kicked off in the UK and
followed by Japan and the US.  The re-branding initiative is on going with
all other remaining regions set to undergo completion of the name change by
the end of November.

Enron Metals is represented throughout the world.  I have attached a regional
office summary that depicts Enron Metals, locations (Appendix I).

In light of the progress that has been made since the summer, I thought it
would be helpful to provide you with a brief recap of Enron Metals, core
business areas and identify those members of the metals team who will be
leading commercial efforts moving forward.

Merchanting Division

The Merchanting Division, led by Michael Farmer (+44 (0)20 7783 2049), is a
worldwide copper merchant, one of the top three independent merchants of
copper concentrates and nickel and the leading European merchant of recycled
non-ferrous metals.  Core activities of the merchanting division are:

? Merchanting of Non-ferrous Metals ) Enron Metals trades as a principal with
producers and consumers, buying and selling non-ferrous metals and
concentrates (particularly copper, aluminum and nickel), exchanging qualities
and locations and lending and borrowing metals.
? Global Stockholding ) Through its affiliate, Henry Bath & Son Limited,
Enron Metals holds stocks of non-ferrous metals at warehouses around the
world.
? Merchanting of Recycled Metal ) Enron Metals trades as a principal with
suppliers and consumers of non-ferrous metal for recycling.  Enron has
augmented its European recycling platform through the acquisition of assets
of W&O Bergmann, the leading German Recycling Business.

Financial Services Division

The Financial Services Division, led by Michael Hutchinson (+44 (0)20 7783
2079), provides market-making and trading services to Enron Metal,s physical
metals trading business through futures trading as a member of the London
Metal Exchange and as a member of COMEX in New York.  The Financial Services
Division will continue to be comprised of brokerage activities for LME and
COMEX contracts and be a market-maker for both futures and options contracts
on the LME and COMEX and in OTC metals contracts.

With much of the metals business moving to online trading, significant effort
has been put into getting metals contracts incorporated into EnronOnline,s
portfolio of product offerings since the metals business, integration into
Enron this summer.  Today on EnronOnline we are trading six metals (Copper,
Aluminium, Nickel, Zinc, Lead and Tin) with over 150 products available.

Enron Metals now has almost 800 financial counterparties on the books, with
300 of these having EnronOnline accounts.  Trading volumes have increased
from a couple of trades per day in September to a high of 300 in October. The
attached charts depict the established metals results compared to the start
up of US natgas (Appendix II).

Origination

Enron Metals established a London-based commercial unit under the direction
of Eric Gadd, Vice President-Global Metals Origination which is focused on
completing highly structured and long-dated transactions.  It will integrate
with existing merchanting and financial service competencies to lever up
earnings creation.  Currently, the origination team is working on a number of
Q4 transactions in Australia and the Americas.  The deal pipeline for Q2 has
prospects in not only these regions but also Europe/Africa and the Middle/Far
East.   Close and regular communication between the metal origination team
and other business units inside Enron is essential if we are to succeed in
building a new capability to achieve earnings targets and deliver shareholder
value through Enron Metals.  Your active involvement and close co-operation
here is appreciated.

Warehousing (Henry Bath & Son Limited)

The Warehousing operations, led by Ed Dablin, operate under the name of Henry
Bath & Son Limited.  Henry Bath has been in business for more than 200 years
and maintains a global operation for the physical handling and storage of
non-ferrous metals, including zinc, tin, copper, nickel, lead and aluminum.
Henry Bath provides support to both the Merchanting and Financial Services
Divisions, and also engages in independent warehousing operations.  Its core
activities include worldwide storage of metals and other products such as
cocoa, general goods and worldwide shipping services.

Presently, Henry Bath maintains over three million square feet of storage
worldwide (most of which is leased), with the largest facilities located in
the United Kingdom (Liverpool, London, Bristol, Immingham), the Netherlands
(Rotterdam), Spain (Bilbao, Barcelona), Singapore, and the United States (New
Haven, New Orleans and Los Angeles).

Rob Soeldner is managing the integration efforts for me.   Please feel free
to contact him at +44 (0)20 7783 7169 with any questions regarding the
business.

Regards
John Sherriff


I finished all but one.  Guess what time I finished????  Oh, and we have until the end of today to finish them.

 -----Original Message-----
From: 	"Immer, Ingrid" <Ingrid.Immer@Williams.com>@ENRON [mailto:IMCEANOTES-+22Immer+2C+20Ingrid+22+20+3CIngrid+2EImmer+40Williams+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Tuesday, May 29, 2001 8:36 AM
To:	Germany, Chris
Subject:

Did you finish your reviews?


Tana here is a copy  of your invoice.
?
Louis
 - invoice611.pdf


BUSINESS HIGHLIGHTS

Enron Industrial Markets
The Transaction Development group (TD) is responsible for corporate development, transaction execution and portfolio management activities within EIM.  TD is responsible for asset and corporate acquisitions to support EIM's efforts in the Forest Products and Steel industries.  TD works with EIM's Forest Products and Steel Origination groups to structure and execute complex transactions for EIM's customers.  TD also manages EIM's equity investments, such as EIM's ownership position in Papier Masson, Ltee, a paper mill in Quebec, Canada.

TD is comprised of approximately 20 professionals with a wide range of backgrounds including investment banking, commercial banking, management consulting, law, project development, accounting and engineering.  In addition, the majority of the analysts and associates within EIM work in TD since it provides a strong base of deal experience for junior members of our organization.

Enron Freight Markets
Enron Freight Markets has continued to expand the transportation services offered to its customers and completed several flatbed truck moves outbound from Georgia this week.  There was a shortage of flatbed equipment supply in this market and EFM was able to obtain more than three times the normal margin on each move.

IN THE NEWS

"Enron's bilateral internet trading platform, EnronOnline, was launched in November 1999 and is the largest e-commerce site on the planet based on the value of its transactions.  As EPRM went to press, it had average daily trading volume of $3.5 billion, accounting for nearly 50% of the company's revenues from wholesale marketing activities." -- Energy Power Risk Management, May 2001

WELCOME
New Hires
EIM   - Cheryl Lindeman
ENA  - Chris Bystriansky, Paula Craft, Eugene Lee, Bhalachandra Mehendale, Sarah Wooddy

Transfers (to or within)
ENA - Grace Taylor, Steven Irvin, Dina Snow

NUGGETS & NOTES

Enron is hosting the Chicago Energy Risk Management Seminar at The Drake Hotel in Chicago on June 14, 2001.  Topics include: Power Outlook, Natural Gas Outlook, Hedging Strategies, Weather Risk Management and Pulp and Paper Risk Management. The RSVP deadline is June 8th so please contact Laura Pena as soon as possible at x 3-5376.  This is a great event for "new" as well as established customers.  There will be a cocktail reception immediately after the presentations.  Enron will also be hosting seminars in Atlanta, Houston, Denver and San Francisco.  Dates to be announced soon.

Travel tip of the week:
Flights reserved through Travel Agency in the Park provide you with $150,000 of flight insurance at no additional charge.

EnronOnline Statistics
Below are the latest figures for EnronOnline as of May 29, 2001.

*	Total Life to Date Transactions >  1,015,000
*	Life to Date Notional Value of Transactions > $610 billion

NEWS FROM THE GLOBAL FLASH

Enron arranges first gas pipeline import into Italy
Enron has continued its pioneering activities in the Continental gas market by arranging the first gas import into Italy.  The Italian team worked with the Continental Gas desk to arrange this strategically important agreement with Blugas SpA., the wholesale gas company formed by the municipalities of Cremona, Lodi, Mantova and Pavia in north-eastern Italy.  Enron has sourced 100,000 cubic metres per day of natural gas from northern Europe to transport to Italy, transiting it through Germany and Switzerland, despite fierce resistance from Ruhrgas and TransitGas respectively.

Aside from isolated LNG imports by incumbent monopolies this is the first time that any company has managed to import natural gas by pipeline into Italy since the Italian gas sector was officially liberalised in August 2000. The gas, which started flowing at 06.00 on Thursday 17th May 2001, will be used to meet the needs of two thirds of Blugas' residential customers within the four municipalities. The current contract lasts for five months.

Congratulations to Fabio Greco, Carsten Haack, Didier Magne, Michael Schuh, Marco Lantieri and Daniela Uguccioni.

Enron in the Middle East
Enron has relinquished its stake in Dolphin Energy, the joint venture company formed to develop gas reserves in Qatar.
Enron has agreed to transfer its 24.5 per cent stake in the project to the United Arab Emirates Offset Group (UOG), the majority shareholder. The agreement allows Enron to deploy capital elsewhere and gives UOG the opportunity to seek new partners before the project moves into its next phase.

Development of the Emden/Oude gas hub moves ahead fast
An important milestone in the evolution of the new gas trading hub on the Dutch-German
border was reached last week. Last Friday some of the major European gas players held a meeting to officially establish the Emden/Oude gas hub. Although Enron had already initiated the development of the Emden/Oude hub by making a market through EnronOnline as early as December 2000, the goal of this meeting was to set up a working group similar to the Zeebrugge focus group who can  work on setting a legal framework for the Emden/Oude hub.

Enron was elected as the only new market entrant in this group, reflecting the high level of respect industry peers have for Enron as a major player in the Continental gas market -- even from incumbents!

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.

<Embedded Picture (Metafile)>


CALENDAR ENTRY:	APPOINTMENT

Description:
	TW Roundtable

Date:		2/15/2001
Time:		1:30 PM - 2:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Tina Spiller ext. 3-5746Tina Spiller ext. 3-5746


Vince,

You mentioned yesterday to send you an e-mail reminder to speak with Norma.
I appreciate your support.   Just as a reminder, I started on October 2,
which was a Monday.  October 1 was a Sunday.

Thanks for your support on this issue Vince.

Sincerely,
Lance


Wayne,

This my response to your question.

What is the regulatory analysis of peering arrangments?

Peering is an act of establishing a relationship to pass Internet traffic
between one national internet backbone provider to another national provider.
Peering is currently not subject to any industry-specific regulations and is
governed by commericial requirements.  The reason that  peering is not
regulated by Federal Communications Commission or any other agency is mainly
due to two factors:

1)  data traffic has not been subjected to the same stringent regulation as
voice traffic

2)  history of Internet -- Since it was the National Science Foundation (NSF)
who founded the first backbone to encourage the exchange of information
between different scientists and researchers, the open environment for
peering was essential to the rapid growth of the Internet.  Currently, most
of the Internet traffic is exchanged through private pooling instead of the
public Network Access Point (NAP).  With private peering, traffic can be
exchanged in the same city, which avoids the classic sydrome in which traffic
that orignates and terminates in Houston would have to travel through NY or
even India.

Please note that peering is not be be confused with Interconnection in the
PSTN, which are very cumbersome and expensive.

May I also ask for what reason are you bringing up  the topic of peering, is
there a deal involving this topic ?

Please let me know if you have any questions.

Xi Xi

	Wayne Gardner
	01/08/01 11:12 AM

		 To: Alisa Christensen/Enron Communications@Enron Communications, Beth
Wapner/Enron Communications@Enron Communications, Cynthia Harkness/Enron
Communications@Enron Communications, David DeGabriele/Enron
Communications@Enron Communications, David
Merrill/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Derenda Plunkett/Enron
Communications@Enron Communications, Donald Lassere/Enron
Communications@Enron Communications, Gerry Willis/Enron Communications@Enron
Communications, James Ginty/Enron Communications@Enron Communications, Jan
Haizmann/LON/ECT@ECT, Jane Wilson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jeff
Dasovich/NA/Enron@ENRON, Lara Leibman/Enron Communications@Enron
Communications, Malini Mallikarjun/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Michael.Norris@enron.com, Michelle Hicks/Enron Communications@Enron
Communications, Mike Dahlke/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rajen
Shah/LON/ECT@ECT, Richard Anderson/Enron Communications@Enron Communications,
Robbi Rossi/Enron Communications@Enron Communications, Sue
Nord/NA/Enron@ENRON, Xi Xi/Enron Communications
		 cc: Angie Buis/Enron Communications@Enron Communications
		 Subject: Proposed Tarl Agenda - Meeting for 9 am Thursday, January 11
(location/call-in to be announced)

I propose a 1 hour meeting to try to regroup from the holidays and hopefully
come up with a framework that will allow us to pick up the pace for future
meetings.  Below is a proposed agenda:

1.  Establish what we have learned to date:
Trading of private line and lambda service terminating in Japan unavoidably
requires a local license held by local entity
-  therefore, trading of private line and lambda service terminating in Japan
must be done by a local entity
-  exposure to high Japanese tax and potential double tax reduced if Japan
only has half-circuit
-  but this requires having multiple EBS parties to a trade
-  and trading half-circuits may not even be a commercial alternative
-  a Master and a confirm must be bilateral, i.e., there can be only be one
counterparty on each side of the agreement
-  thus, a customer that wishes to trade an entire segment (e.g., Tokyo to
San Jose) will have to execute two Masters and two confirms if the
half-circuit alternative is used
US tax guidelines to avoid double tax on Japanese trading
Trading of Australian bandwidth entails no license requirements
Trading of Western European bandwidth entails no license requirements
provided that no physical fiber is owned
Trading US telecom capacity requires an FCC 214 license
-  EBS, Inc. has an FCC 214 license
-  No other affiliate of EBS, Inc. needs to acquire an FCC 214 license IF
that affiliate is directly or indirectly wholly-owned by EBS, Inc.
With regard to any IP transport deal, we must have the counterparty enter
into a separate Master agreement and confirm with each EBS entity involved in
the transaction.
-  Thus, in an IP transport deal involving numerous countries that require
licensed local entities to provide local IP services, the counterparty will
be required to execute a Master with each of the local entities
-  This is the ONLY feasible way from a legal standpoint to structure an IP
transport deal, but is not a very good solution.
None of the foregoing points raise significant accounting issues.
Other?

2.  What are the important near term questions that remain to be answered and
how long will it take to answer them:
Does private line and lambda trading of segments terminating in Hong Kong,
Singapore, and India unavoidably require local license held by local entity?
-  If so, is there any way to limit the problem?
Does IP transport constitute a telecommunications service that requires a
license in Sao Paulo, Tel Aviv, Japan, Singapore, Hong Kong, and India?
-  If so, must that license be held by a local entity?
Does IP transit constitute a telecommunications service that requires a
license in Sao Paulo, Tel Aviv, Japan, Singapore, Hong Kong, and India?
-  If so, must that license be held by a local entity?
What is the legal relationship of parties to peering arrangements?
What is the regulatory analysis of peering arrangments?
What is the tax analysis of peering arrangments?
Other?

3.  Update on Singapore Pioneer Status application

4.  Are there things should we be doing to try to get ahead of the curve?

I encourage questions and comments on the agenda.

W. Wayne Gardner
Enron Broadband Services
1400 Smith Street
Houston, TX  77002-7361
Phone:  713 853 3547
Fax:  713 646 2532


Please match deal 204176 (CES sale Mar-May) with deal 209005 (what do you
think, CES buy Mar-May).


Below is the name and phone number of the woman that I worked with to arrange
our tour of Enron  Field.  She may not be the person to talk with regarding
displaying a boat, but  will very likely be able to give the correct
contact.  It was nice to meet you.  I have enjoyed getting to know Bethany
through NCL.  Good luck!

Jill McCormick

713-259-8965


Russell:
Your comments to the transfer agreement were fine.  With respect to the
Guaranty, I will delete the Schedule.  Our system did not show any other
chnages.  Were there any?
Carol


Good morning, Steve -

Per Marla Barnard, I'm forwarding the attached spreadsheet.  Please let me
know
if you have any questions.

Best regards,

Kim

(See attached file: EBS Marketing Employees.xls)
_____________

Kim Hanson
Senior Staffing Specialist
Enron Broadband Services
http://www.enron.net
(503) 886-0422

 - EBS Marketing Employees.xls


Mailing them to the house iis fine.  It will give us some weekend reading!  Thanks.

Stephen.Dyer@bakerbotts.com on 05/01/2001 08:50:01 PM
To:	Stanley.Horton@enron.com
cc:

Subject:

Almost done with your drafts.  Took me a little longer to review and revise
Adam's first drafts than I had thought (there's a lot going on here, as
you'll see soon).

I expect to send them out to you sometime tomorrow. Since Debbie is a client
too, I think I'll just mail them to your home unless you prefer otherwise.

SD


Elizabeth and Christian:

I just spoke with Steve and he can join us for a conference call tomorrow at
1:00 pm PST to discuss contractual setoffs with WAPA.  Unless you hear
otherwise, let's assume Christian and I will initiate the call.  I am also
inviting Todd Barker to the call; Todd is a first-year associate at Stoel
Rives who has been helping Steve and me with WAPA research.---sch


Tana -

Could you please send an e-mail to Mr. Gros asking for confirmation of the
relationship between Sunguard and the entity that signed the NDA (it is still
in my office).  What we need is some evidence of the subsidiary relationship.

Thanks.

Mark
Senior Counsel, EWS
Phone:     713-345-8897
Facsimile: 713-646-3490
E-Mail:      Mark.Greenberg@enron.com
----- Forwarded by Mark Greenberg/NA/Enron on 05/17/2001 10:51 PM -----

	lawrence.gross@sungard.com
	05/17/2001 04:37 PM

		 To: mark.greenberg@enron.com
		 cc:
		 Subject: ASC

Mark, perhaps if you sent me the agreement in question, I could better
answer your questions.  If you have it electronically, please email it.
Thanks.

Lawrence A. Gross
Senior Vice President-Legal & General Counsel
SunGard Data Systems Inc.
1285 Drummers Lane
Wayne, PA 19087
------------------------------------------------------------------------
Voice:      610-341-8896
Fax:          610-341-8115
Mobile:    267-254-1400
Email:      lawrence.gross@sungard.com
------------------------------------------------------------------------


[IMAGE]
[IMAGE]	[IMAGE]   [IMAGE]  [IMAGE]  Buy 1, get up to 2 DVDs at $10 off!  details   [IMAGE] [IMAGE] expiration: 12/28/01 	[IMAGE]

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Sally,

It was nice meeting with you this morning.  Here are my mid-year and year-end
lists of accomplishments for your records. You may already have my mid-year
document from the June PRC process, and the year-end document is the same
document I left with you today.  Robb Justice has both documents as well.
Robb is also somewhat familiar with my Asia-Pacific work as he assisted our
Japan, Singapore, and S. Korea efforts several times throughout the year.  I
let him know today that you would be contacting him.

Thanks you,
Nicole


Imelda,

The following people (HPL Logistics) need access to view all Texas Desk
positions/portfolios in Sitara Position Manager and Deal Ticker:

Mandey MacKinnon
George Grant
Aimee Lannou
Tom Acton
Jackie Young
Stella Morris
Susan Trevino
Kim Vaughn
Charlotte Hawkins
Robert Lloyd
Pat Clynes

Please update their security to allow for this.  Let me know if you have any
questions.

Thanks.

Daren


Vince - Thanks for the note.  I'll mention downtown for sure when making a
reservation.

Shijie

On Fri, 30 Jun 2000, Vince J Kaminski wrote:

>
>
> Shijie,
>
> A note: in both cases makes a reservation explicitly at a DOWNTOWN hotel.
> There are hotels with the same names elsewhere in Houston.
>
> Vince
>
>
>
> ---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 06/30/2000
02:44
> PM ---------------------------
>
>
> Shirley Crenshaw
> 06/30/2000 02:25 PM
>
> To:   Shijie Deng <deng@isye.gatech.edu> @ ENRON
> cc:    (bcc: Vince J Kaminski/HOU/ECT)
> Subject:  Re: Visit to Houston and Vince Kaminski's Research Group
(Document
>       link: Vince J Kaminski)
>
> Shijie:
>
> I spoke with Vince and he said Friday the 28th of July would be fine for
> your visit to Enron.
>
> Please let me know your itinerary when you have it confirmed.  There
> are two hotels downtown Houston, The Doubletree and the Hyatt Regency
> that are very close to the Enron Bldg.
>
> If you need help with anything, please let me know.
>
> Look forward to having you at Enron.
>
> Regards,
>
> Shirley Crenshaw
>
>
>
>
>
>
>
>
> Shijie Deng <deng@isye.gatech.edu> on 06/30/2000 10:15:43 AM
>
> To:   Shirley Crenshaw <Shirley.Crenshaw@enron.com>
> cc:
> Subject:  Re: Visit to Houston and Vince Kaminski's Research Group
>
>
>
> Shirley,
>
> Thank you for your message.  I'm fine with 7/28 (Friday).  I could fly in
> to Houston early evening on 7/27.  Please let me know after you confirm
> the date with Vince.  Thanks!
>
> Shijie
>
> Shi-Jie Deng
> Assistant Professor
> School of ISyE
> Georgia Institute of Technology
>
> Office Phone: (404) 894-6519
> E-mail:       deng@isye.gatech.edu
> Home page:    http://www.isye.gatech.edu/~deng
>
> On Fri, 30 Jun 2000, Shirley Crenshaw wrote:
>
> >
> >
> > Good morning Professor Deng:
> >
> > I am Vince Kaminski's assistant and he has asked me to coordinate your
> > visit to Enron.  The last week in July would be best for Vince and his
group.
> > especially the 24th, 26th, 27th, or 28th.  Tuesday, the 25th is already
> filling
> > up.  Please let me know which day would work for you.
> >
> > Best regards,
> >
> > Shirley Crenshaw
> > Administrative Coordinator
> > Enron Corp. Research Group
> > 713/853-5290
> > email:  Shirley.Crenshaw.com
> >
> >
> >
> >
> >
> >
> >
>
>
>
>
>
>
>
>


Ellen,
 The enovate office in Chicago tells me that the addresses in the Contract
are correct as written and that they have gotten with the people in Houston
to get them to leave the addresses as contained in the contract.  Regarding
the Financially Firm language, I would suggest that you line through the word
Financially in each case where it occurs in the contract, line through the
entire definition of Financially Firm and have the person who signs for
Reliant initial each of the line outs.   I do not feel that we need to define
the term Firm.  Our view of the contract is that the obligations are always
firm so no further clarification is needed.  Do you concur?  If so, forward
the signed and initialled contracts together with the signed Transaction
Agreements and I will have the enovate officer also initial the line outs and
return a final fully executed contract to you.

	Ellen_R_Dailey@reliantenergy.com
	01/23/2001 03:44 PM

		 To: dan.j.hyvl@enron.com
		 cc:
		 Subject: Enovate, L.L.C. Master Firm Purchase/Sale Agreement

Dan:

Will Enovate cause us to become "undone" or what?  Today, one of our
Accountants asked me to change the address for Enovate to the Enron,
Houston address.  Just the day before, I had set contracts up in our gas
management system and used the Notices/Correspondence/Invoices section from
the Enovate contract to complete the areas of the contract that would feed
the Accounting module as well as the Contracts module, this being the
Chicago, Illinois information.  So, I politely told the Accountant that the
info in the gas management system was correct as entered.  He (the
Accountant) had spoken with an Accountant from ENA (Doug Nelson at
713/853-0560) and Doug told him that the invoices, etc. should go to
Enovate c/o Enron at 1400 Smith, Room EB3718, Houston, TX 77002.  Do you
have any objection to changing this in the contract?  Please advise, we'd
like to do what would best streamline this process.

Well Dan, hopefully, this will be ironed out one day soon and everything
will run smoothly.  Thanks again for your help.

Regards,
Ellen
---------------------- Forwarded by Ellen R Dailey/TTG/HouInd on 01/23/2001
03:35 PM ---------------------------

Ellen R Dailey
01/22/2001 01:25 PM

To:   dan.j.hyvl@enron.com
cc:

Subject:  Enovate, L.L.C. Master Firm Purchase/Sale Agreement

Dan:

I have a dilemma and I'm almost too embarrassed to ask you to help me
resolve it.  As a matter of policy in this department, we are to stress the
fact that we "need" "financially firm" language in all contracts.  When the
Trader requested a contract with Enovate, he was not clear about his
trading intentions and it was assumed that "financially firm" "needed" to
be in the contract.  It seems that this language is now holding up the
execution process of the Enovate LLC contract.  The Business Unit wants
"financially firm" out and "firm" substituted.

The definition for "firm" that they want in the contract is the standard
definition for "firm" that is in the GISB as follows:

"Firm" shall mean that either party may interrupt its performance without
liability only to the extent that such performance is prevented for reasons
of Force Majeure; provided, however, that during Force Majeure
interruptions, the party invoking Force Majeure may be responsible for any
imbalance charges as set forth in Section 7.2 related to its interruption
after the nomination is made to the Transporter and until the change in
deliveries and/or receipts is confirmed by the Transporter.

I believe the only other place in the contract that "Financially Firm"
appears is on the first page, Article 2. SCOPE OF AGREEMENT:, second line,
would you please change that occurrence of "Financially Firm" to just
"firm"?

Dan, can you help me with this without trashing the whole contract?  On the
first page, we can line through "Financially" and initial, and then just
the definition page on the first page of APPENDIX "1" would have to be
redone to replace "Financially Firm" with just "Firm".

Please let me know if this is able to be done.

Thanks and I'm so sorry,

Ellen Dailey
713/207-3266


Denise:
Here is the EEI Master Form.  Article 8 contains the collateral provisions.
Call me with any questions you may have.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 06/30/2000
06:53 PM ---------------------------

Eve Puckett@ENRON
06/28/2000 02:47 PM
To: Leslie Smith/HOU/ECT@ECT, Judy Hernandez/HOU/ECT@ECT, Lynette
Powell/Corp/Enron@Enron, Angela Barnett/HOU/ECT@ECT
cc:
Subject: Joke

---------------------- Forwarded by Eve Puckett/Corp/Enron on 06/28/2000
02:45 PM ---------------------------

	Enron North America Corp.

	From:  Jorge Olivares                           06/28/2000 11:58 AM

To: Eve Puckett/Corp/Enron@ENRON
cc:

Subject: Joke

        > A man runs into the vet's office carrying his dog, screaming for
help.
        > The vet rushes him back to an examination room and has him put his

dog
        > down on the examination table. The vet examines the still, limp
body
        > and after a few moments, tells the man that his dog, regrettably,
is
        > dead. The man, clearly agitated and not willing to accept this,
        > demands a second opinion. The vet goes into the back room and
comes
        > out with a cat and puts the cat down next to the dog's body. The
cat
        > sniffs the body, walks from head to tail, poking and sniffing the
        > dog's body and finally looks at the vet and meows.
        >
        > The vet looks at the man and says, "I'm sorry, but the cat thinks
that
        > you're dog is dead, too." The man is still unwilling to accept
that
        > his dog is dead. So the vet brings in a black lab, the lab sniffs
the
        > body, walks from head to tail, and finally looks at the vet and
barks.
        > The vet looks at the man and says, "I'm sorry, but the lab thinks
your
        > dog is dead too."
        >
        > The man, finally resigned to the diagnosis, thanks the vet and
asks
        > how much he owes. The vet answers, "$650."
        >
        > "$650 to tell me my dog is dead?" exclaims the man.
        >
        > "Well," the vet replies, "I would only have charged you $50 for my

        > initial diagnosis. The additional $600 was for the cat scan and
lab
        > tests."


I spent the last few days with Rod at a CFEE conference, and he is definitely
going to run..he doesn't think that the election will occur until June so we
will at least have him in Sacto until then.  The CFEE conference was the best
that I have ever attended, there were 10 members of the legislature there,
and though the focus was on air quality and power plants, the members were
expressing their frustation with the administration in not looking for
solutions and only pointing fingers..besides contracts and expidited siting,
a large part of the discussion was on educating the public...Senators Kuehl
and Machado are planning on putting together a public service announcement of
some sort  for members to use in their districts on how to conserve
energy..do we have anything that would be helpful?  Dion Aaroner , who chairs
the Assembly Democratic Caucus, and Rod will be doing a briefing for the
members on energy in January, do we have any basic information, like a
glossary of energy terms that I could give her, I will be with her next
Thursday.  Dion is also talking to the speaker today, briefing him on what
the govenor has been doing, and asking him to call the govenor to talk about
changing his tactics.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/13/2000
01:44 PM ---------------------------

Christie Patrick
10/10/2000 03:40 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Tiger Team info

Vince,

Here is the info re: Tiger Team.  I haven't opened it yet, but I will have my
group work on any  of the general  Enron information requested.

Thanks for your time and input this morning!

--Christie.
---------------------- Forwarded by Christie Patrick/HOU/ECT on 10/10/2000
03:38 PM ---------------------------

Piazze <Piazze@management.wharton.upenn.edu> on 10/10/2000 10:49:35 AM
To: "'Christie.Patrick@enron.com'" <Christie.Patrick@enron.com>
cc:
Subject: Tiger Team info

Christie:

Nice talking with you and Vince this morning.  The project sounds very
exciting and we look forward to working with Enron.

Attached is info for your review.  Let me know if there is further info I
can provide to you.

Sincerely,
Donna Piazze
Program Director
Field Application Project
The Wharton School
Univ. of Pennsylvania
(215) 573-8394
(215) 573-5727 fax
fap@management.wharton.upenn.edu
piazze@wharton.upenn.edu

 - Tiger Team Brochure 2000-2001.doc
 - Tiger Host  Responsibilities.doc
 - Non-Disclosure - Redraft 1_.doc
 - 2001 Field Application Form 1.doc
 - 2001 Field Application Form 2.doc


Jeff,

I cannot interview Howard on Tue (business trip).
I think the organization is very interested in him.

I don't know what  "illicts your attention" means.

Vince

"$$$$$$$$$$$$$$$$$$$$$$$$$$$" <jjw@ziplip.com> on 02/16/2001 03:02:36 PM
Please respond to "$$$$$$$$$$$$$$$$$$$$$$$$$$$" <jjw@ziplip.com>
To: Vince.J.Kaminski@enron.com
cc:
Subject: Howard Confirmation

Hi Vince, I'm on vacation from Friday (today) until Tuesday. Rachel/London
sent me this confirmation last night and think it illicts your attention- Did
they get it right to meet you satisfaction? I hope your interview goes well
with Howard too. It's all set.

Any feedback on the guys from Ford Credit and Citigroup/Oxford University? I
own them outright- no other firms involved! FYI: My fees are always much less
on these candidates (exclusive ownership by myself) as there are no middlemen
involved from these "other firms". I luckily have been attracting very
talented candidates with just doing business "as myself" rather than MRI. I
am very encouraged. Please check them out, Vince... as you know- I always
send you them first then on to my other clients -if you reject them.
Bye Vince, Thank you for the business!
Jeff
PS- Use my cellphone if you want me (the next 4 days) for anything; I'm here
for you- 949 813 2241

*******************************************************
Candidate's Name: Howard Haughton

Date of Interview: Tuesday 20 February 2001

Time of Interview: 2.00pm

Interviewers: David Weekes Enron Credit Sales
& Marketing
                         Mark Leahy Enron Credit Sales &
Marketing
                         Bryan Seyfried Enron Credit Executive
                         Markus Fiala Enron Credit Trading
                         Robina Barker-Bennett Enron Credit
Syndication
                         Ted Murphy Executive RAC

                         Each interview will be approximately 45 minutes.

Address: 40 Grosvenor Place
                         London
                         SW1X 7EN

Switchboard: 020 7783-0000

Closest Tube/Train Station: Victoria

To ask for: David Weekes at main reception

Location Map attached
                         (See attached file: Location Map.pdf)

I will take this as confirmed unless I hear otherwise from you. If you
would like to discuss this please contact me on 020 7783 5677.

Regards
Rachel Quirke
Human Resources

*  Get free, secure online email at http://www.ziplip.com/  *


We have received an executed Master Agreement:

Type of Contract:  ISDA Master Agreement (Multicurrency-Cross Border)

Effective Date:   April 26, 2001

Enron Entity:   Enron Canada Corp.

Counterparty:   Trioco Resources Inc.

Transactions Covered:  Approved for all products with the exception of:
Foreign Exchange

Confirming Entity:  Enron Canada Corp.

Governing Law:   Province of Alberta

Copies will be distributed

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


Betsy Wilson w/TCO gas control approved 52,000 overinjection for 5/6-8.
Total net 100,000.

thanks
joann

---------------------- Forwarded by Joann Collins/Corp/Enron on 05/05/2000
07:49 AM ---------------------------

	Enron North America Corp.

	From:  Joann Collins                           05/04/2000 08:16 AM

To: Chris Germany/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT, Victor
Lamadrid/HOU/ECT@ECT, Robert Allwein/HOU/ECT@ECT, Joan
Veselack/Corp/Enron@ENRON
cc:

Subject: STOI Overinjection for May 5th

Al w/TCO gas control approved 52,000 overinjection for 5/5.  Total net
100,000.

thanks
joann

---------------------- Forwarded by Joann Collins/Corp/Enron on 05/04/2000
08:11 AM ---------------------------

	Enron North America Corp.

	From:  Joann Collins                           05/03/2000 08:04 AM

To: Chris Germany/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT, Robert
Allwein/HOU/ECT@ECT, Joan Veselack/Corp/Enron@ENRON, Victor
Lamadrid/HOU/ECT@ECT
cc:

Subject: STOI Overinjection for May 4th

Mark Johnson w/TCO gas control approved 52,000 overinjection for 5/4.  Total
net 100,000.

thanks
joann

---------------------- Forwarded by Joann Collins/Corp/Enron on 05/03/2000
07:59 AM ---------------------------

	Enron North America Corp.

	From:  Joann Collins                           05/02/2000 09:28 AM

To: Chris Germany/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT, Joan
Veselack/Corp/Enron@ENRON, Robert Allwein/HOU/ECT@ECT
cc:

Subject: STOI Overinjection for May 3rd

Rodney w/TCO gas control approved 52,000 overinjection for 5/3.

thanks
joann

---------------------- Forwarded by Joann Collins/Corp/Enron on 05/02/2000
09:22 AM ---------------------------

Joan Veselack
05/01/2000 09:34 AM
To: Joann Collins/Corp/Enron@ENRON, Robert Allwein/HOU/ECT@ECT, Chris
Germany/HOU/ECT@ECT
cc:

Subject: STOI Overinjection for May 2nd

Steve at TCO's Gas Control approved the 32,000 overinjection.

Total STOI Delivery for May 2nd is 80,000.

Thanks.


Barbara,

Will this be at 4:00 PM on Monday?  Sally has meeting w/ Louise Kitchen from
3:30 to 4:30, so she will probably be 30 mins late to Jeff's meeting.

Patti


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

[IMAGE]	[IMAGE]

[IMAGE]	[IMAGE]
	[IMAGE] [IMAGE]  [IMAGE]  [IMAGE][IMAGE]  [IMAGE][IMAGE] [IMAGE][IMAGE] [IMAGE]  [IMAGE]  [IMAGE]  November 12, 2001  Dynegy and Enron Announce Merger   By Will McNamara Director, Electric Industry Analysis  [News item from Reuters]  Dynegy Inc. (NYSE: DYN) agreed on Nov. 9 to acquire rival Enron Corp. (NYSE: ENE) for some $9 billion in stock, underlining the dramatic reversal of fortunes for the Houston-based energy trading giant that was valued last year at nearly $80 billion. Enron's stock fell sharply in the past month due to investors' concerns about murky transactions that sparked an investigation by U.S. regulators and damaging downgrades by credit rating agencies. The merged company will retain the Dynegy name. It will have annual revenues of more than $200 billion and assets worth $90 billion, including more than 22,000 megawatts of electricity generating capacity and 25,000 miles of natural-gas pipelines. It will be North America's biggest marketer and trader of natural gas and electricity, positions previously held by Enron.  Analysis: Well, it's now official. The announcement of what presumably will be the final chapter in the Enron saga came with much fanfare at the end of last week. It is indeed a dramatic end. Enron, the maverick and innovative company that has often been credited for literally creating deregulated markets in the energy industry, will no longer exist after what has been a very quick and unbelievable fall from grace over the last several months. Dynegy, the slow and methodical company that took a more traditional approach toward success, is making a stunning acquisition of its formal rival and locking in much of the industry market share of Enron. Can there be any doubt that this is the energy industry's manifestation of the tortoise and the hare parable? Enron has clearly lost the race to Dynegy, but is making a smart choice to be bought, considering its desperate circumstances and the unlikelihood of its regaining financial strength on its own. For Dynegy, this acquisition is a major win, as the combination will create the  biggest and strongest energy merchant in the world.   There are so many interesting dimensions to this mammoth deal. Before addressing some issues related to the approval of the deal, let's establish some of the key points of the merger agreement. There have been some mixed reports, but it is generally believed that Dynegy is buying Enron for about $10 a share, quite a steal considering that just over a year ago Enron was trading at close to $90 a share and had a market value of nearly $70 billion. Under terms of the agreement, Enron shareholders will receive 0.2685 Dynegy shares per share of Enron common stock. Dynegy's current stockholders (including ChevronTexaco Corp., which currently owns 27 percent of Dynegy) will own approximately 64 percent of the combined company, while Enron's stockholders will own approximately 36 percent of the combined company's stock at closing.   In addition, Dynegy will provide an immediate $1.5-billion asset-backed equity infusion into Enron to help the company with its current financial woes, followed by an additional infusion of $2.5 billion into the combined company by ChevronTexaco. Chuck Watson, chairman and CEO of Dynegy, will retain his position at the new company. Steve Bergstrom, president of Dynegy, and Rob Doty, chief financial officer, will retain their positions at the new company. It is not presently known what role, if any, Ken Lay, current CEO of Enron, will hold at the new company.   Of course, this acquisition could not have taken place if Enron had not fallen into a very vulnerable spot this year. Quite literally, Enron was pushed into this deal because it was running out of cash, its stock had tanked and its credit ratings were slashed to near junk levels, all within the last several weeks. Enron's decline over the course of 2001 has been the result of losses in its telecom sector, losses from its involvement in India, the departure of its former CEO Jeffrey Skilling, a Securities and Exchange Commission (SEC) investigation into some of its business practices, and lack of investor confidence about Enron's honesty in its financial reporting. This last point gained validity last week when Enron announced that it had overstated earnings by 20 percent over the last four years and investors should disregard the company's financial statements from 1997 through the first half of 2001. The restating of its earnings for the last five years sliced $591 million from Enron's reported profits. In addition, Enron revised its debt upward in each year from 1997 to 2000. At the end of 2000, Enron's debt was $10.86 billion, $628 million more than it had previously reported. By not reporting this debt earlier, Enron presumably was able to maintain a stronger credit rating than it would have had the accurate records been disclosed.   The key value for Dynegy in this acquisition is Enron's successful energy trading business. In addition, Dynegy could also find synergies in Enron's retail unit, Enron Energy Services and EnronOnline, the company's electronic trading unit. Dynegy has a similar trading site known as Dynegydirect, which was launched after Enron gained the first-strike advantage in this market space. Details are still emerging, but it would make sense if Dynegy opted to not purchase other units under Enron's business structure, such as the company's water and telecom businesses, which are losing money. Dynegy has its own telecom unit, which has also lost money this year, so it may not want to expand in this slow-growing sector at this time. Vivendi Environnement, a French company that has expanded into various lines of business, has reportedly expressed interest in the remaining subsidiaries of Azurix, Enron's struggling water subsidiary. Note that Enron sold Azurix North America to American Water Works.   The deal is subject to regulatory reviews and shareholder approval from Dynegy and Enron shareholders. Dynegy shareholder approval may be contingent upon any possible downgrades on its long-term debt that Dynegy could encounter with the purchase of Enron. At this juncture, it does not appear that Dynegy will be downgraded, but this is a fast-changing story and conditions could change abruptly. Financing the deal may also be an issue, even with the infusion of capital from ChevronTexaco. Dynegy reportedly has $3 billion worth of debt and has a market capitalization of $11.7 billion. Thus, Enron's own more substantial debt may be too significant for Dynegy to absorb, a concern that may cause Dynegy shareholders to veto the deal. This issue could be helped if Dynegy only elects to purchase some of Enron's assets and if there is some repair work done on Enron's balance sheets.   The issue of regulatory approval could be difficult, as the combination of the two huge companies may cause regulators to be concerned about market power and antitrust issues. The review of this merger will be unprecedented, considering that the wholesale natural-gas and electricity trading market is still fairly young. Certainly, a deal of this magnitude has not previously occurred in the deregulating energy industry. It is not presently clear which regulatory agency will be involved in the review, although the Federal Energy Regulatory Commission (FERC), the Federal Trade Commission and the Justice Department could all be involved. FERC would most likely become involved only if the acquisition includes the transfer of a physical asset, such as a pipeline. FERC may not become involved if the deal is structured solely as an exchange of stock. Not involving FERC would be more advantageous for Dynegy and Enron as the timeline for approval would be significantly shorter.   An issue that most likely will be at the top of the list of review items for regulators would be the extent to which the combination of Enron and Dynegy would hold market power in the natural-gas trading space, which could pre-empt market entry by other competitors. The combined company would be considerably larger than its nearest competitors. Scope and scale are considered the top competitive assets in the trading sector, and the combination of Dynegy and Enron will certainly have those assets in abundance. It will fall on regulators to determine if the combined company is so large that it precludes other competitors from emerging into the same space.   To say that this deal is a sweet victory for Chuck Watson is an understatement. The two rival companies followed very different paths to success. Enron, under the leadership of Jeffrey Skilling in particular, espoused an unorthodox belief that the company did not need to own physical assets in order to achieve success in the energy-trading space. Dynegy, on the other hand, approached the market from the opposite perspective, and diligently acquired diverse generation assets across the United States and internationally to support its trading operation. Up until the start of 2001, it appeared that Enron's strategy was the more successful of the two. Enron, with $100 billion in revenues and $1 billion in profits in 2000, ranked fifth on Fortune 500's list of largest U.S. companies. In contrast, Dynegy ranked 54 on the same list and had $29 billion in revenues and $500 million in earnings. However, 2000 turned out to be Dynegy's year and the success continued into 2001, the very year that would bring Enron's downfall. Enron's problems culminated in $638 million in losses in the third quarter, after taking $1.01 billion in charges associated with several of its non-core businesses. Taken with the other factors plaguing the company, Enron became exceptionally vulnerable and prone to a takeover, which has now provided Dynegy with a strong gain.   The purchase of Enron will literally quadruple Dynegy's size and should immediately provide an accretive earnings contribution. Further, Dynegy claims that it expects a 15- to 20-percent annual earnings growth over the next three years following its planned acquisition of Enron. If it gains all of the necessary regulatory approvals, Dynegy will become the undisputed market leader in the energy industry, with annual revenues of $200 billion and $90 billion in assets. The company will have 22,000 MW of generating capacity, which moves its closer to the previously established goal of accumulating 70,000 MW by 2005. In other words, the combined company will dwarf any other competition in the trading sector and be considerably ahead of its nearest competitors such as Mirant or Duke Energy in terms of size, resources and assets.   Word of the acquisition caused Enron's shares to increase some, one of the few upward bumps that the company had experienced in the last few months. Shares of Enron rose 44 cents, or 5.2 percent, to $8.85 in mid-day trade on the New York Stock Exchange on Nov. 9. As of early morning trade on Nov. 12, Enron shares were priced at $9.40. Shares of Dynegy gained $2.24, or 5.8 percent, to $41 in early trade on the New York Stock Exchange.   An archive list of previous IssueAlert articles is available at www.scientech.com    We encourage our readers to contact us with their comments.  We look forward to hearing from you. Nancy Spring    Reach thousands of utility analysts and decision makers every day. Your company can schedule a sponsorship of IssueAlert by contacting Jane Pelz  at 505.244.7650.  Advertising opportunities are also available on our Website.    Our staff is comprised of leading energy experts with diverse backgrounds in utility generation, transmission and distribution, retail markets, new technologies, I/T, renewable energy, regulatory affairs, community relations and international issues. Contact consulting@scientech.com   or call Nancy Spring at 505.244.7613.    SCIENTECH is pleased to provide you with your free, daily IssueAlert. Let us know if we can help you with in-depth analyses or any other SCIENTECH information products. If you would like to refer colleagues to receive our free,  daily IssueAlert articles, please register directly on our site at secure.scientech.com/issuealert .   If you no longer wish to receive this daily e-mail, and you are currently a registered subscriber to IssueAlert via SCIENTECH's website, please visit  http://secure.scientech.com/account/  to unsubscribe.  Otherwise, please send an e-mail to  to IssueAlert , with "Delete IA Subscription" in the subject line.    SCIENTECH's IssueAlert(SM) articles are compiled based on the independent analysis of SCIENTECH consultants. The opinions expressed in SCIENTECH's IssueAlerts are not intended to predict financial performance  of companies discussed, or to be the basis for investment decisions of any kind. SCIENTECH's sole purpose in publishing its IssueAlert articles is to offer an independent perspective regarding the key events occurring in the  energy industry, based on its long-standing reputation as an expert on energy issues.     Copyright 2001. SCIENTECH, Inc. All rights  reserved.

[IMAGE]


Attached is the latest draft of the PPM dated 7/24/00.  Please note that
this draft does not include Rex Rogers comments received 7/25.

  Please fax comments to Brenda Funk at 713/853-9252.

Joyce for Gareth

(See attached file: 7-24copy.doc)

 - 7-24copy.doc


I have scheduled the HPL training session for Tues the 15th.  So I can't make
this meeting.  Neither will the Tx Logistics group.

D
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 02/09/2000
01:16 PM ---------------------------

	From:  Pamela Chambers @ ENRON                           02/09/2000 12:14 PM

To: Anita Luong/HOU/ECT@ECT, Fred Boas/HOU/ECT@ECT, Clem
Cernosek/HOU/ECT@ECT, Stella L Morris/HOU/ECT@ECT, Karry Kendall/HOU/ECT@ECT,
Daren J Farmer/HOU/ECT@ECT, Robert E Lloyd/HOU/ECT@ECT, Howard B
Camp/HOU/ECT@ECT, Jackie Young/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON,
Gregory Steagall/HOU/ECT@ECT, Mandy MacKinnon/HOU/ECT@ECT, Rita
Wynne/HOU/ECT@ECT, Blanca A Lopez/HOU/ECT@ECT
cc: Jana Mills/HOU/ECT@ECT, Ragayle Pellum/HOU/ECT@ECT
Subject: DATE CHANGE: Three Rivers Allocations Mtg. EB37C1

2/9/00

If you have any questions, please contact me or Rita Wynne x3-7694

Many Thanks
Pamela Chambers-Thompson
x3-9680


Sounds like a great idea -- let us know where/when.


We should again nominate to NWPL .  In our nomination we can state that if
Wildhorse again wrongfully rejects our nom to NWPL, we then nominate to
Questar solely to mitigate damages.  I can draft the appropriate letter.

Joan or Ken,

Will the nominations be done via the web site?  Do we have the information to
nominate to NWPL via the website?

	"Ken" <kckrisa@apex2000.net>
	10/23/2000 08:57 AM
	Please respond to kckrisa

		 To: "Joan Quick \(E-mail\)" <joan.quick@enron.com>, "Gerald R. Nemec
\(E-mail\)" <Gerald.Nemec@enron.com>
		 cc:
		 Subject: November Nominations

Joan, Gerald;

What is the game plan for November nominations?  Do we want to go through
the same deal as before and nominate on NWPL, get rejected, and renominate
on Questar?  Or, do we want to nominate on Questar and include a statement
that we are nominating on Questar only because of last month's ordeal?

Tom Brown and Wildhorse are supposed to close today - if they didn't get
their late last Friday.

Ken Krisa


Bob,

FYI

Vince

 -----Original Message-----
From: 	Muzzy, Dolores
Sent:	Tuesday, July 24, 2001 2:04 PM
To:	Lee, Bob
Cc:	Warner, Traci; Bland Jr., Ted C.; Crenshaw, Shirley; Kaminski, Vince J
Subject:

Summer is quickly drawing to a close for our summer interns.

We have scheduled several departure dates for the interns.  Our records indicate that your summer intern,Jinbaek Kim, is scheduled to return to school on 8/3/01.

We would like to host a performance review session for all interns who are departing during this same week.

The review session for your intern will be held on August 2nd at 10:00 am to 11:30 am in EB 35C2.  Please bring the completed performance feedback form for your intern to this meeting along with any other feedback from your team members that you may have collected.

We will discuss each intern, cross calibrate their individual performances and decide which interns will receive full time offers.

If you are unable to attend this meeting, please contact me at X33242.

Sincerely,

Traci Warner
Director
A/A Recruiting


No, if it is an approved customer that Enron would otherwise talk to over the
phone.  We always have to be careful about assuming advisory/fiduciary
duties, as would be the case in telephone communications.  I got your voice
mail on the direct access issues; let's try to talk some time on Wednesday.
Thanks.

>>> <Mark.Taylor@enron.com> 07/11 9:35 PM >>>

David:

Do you see any problems with a customer having the ability to chat with an
Enron
representative online?

Mark

----------------------------------

This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.


Start Date: 1/18/02; HourAhead hour: 15;  HourAhead schedule download failed. Manual intervention required.

    LOG MESSAGES:

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Via U.S. Mail and
e-mail

Mr. & Mrs. Mike McConnell
13451 Belhaven Drive
Houston, TX  77069

RE: Flair Construction Co., Inc. / Purchase of Lots Six (6) and Seven (7),
Block One (1), THE LAKES OF STERLING GATE, Section One (1)

Dear Mr. & Mrs. McConnell:

Enclosed is a blue lined copy of the Survey we received today from the Title
Company.  Please note that there is a thirty five foot (35') Reliant
Energy/Entex pipeline easement and a fourteen foot (14') utility easement at
the rear of the property.  In addition, the fourteen foot (14') utility
easement runs along the northwest property line.  As such, no permanent
fixture will be allowed to be built over these easements, including a
swimming pool, gazebo or similar structure.

The Earnest Money Contract provides that you have seven (7) days from the
receipt of the Survey to object in writing to items appearing on the Survey.
However, we do not believe that Flair Construction can alter these
easements in any way, shape or form, and as such, the easements will most
likely remain intact.  If you feel that the easements will impair the
construction of your home, swimming pool or related structures, please
advise us immediately so that we may notify Flair of your objections.  If
the objections are not cured within twenty (20) days after Flair receives
them, in writing, the closing date may be extended.  If, however, the
objections are not cured by the extended closing date, the Contract will
terminate and your earnest money should be refunded to you.  We just wanted
to make sure that you were aware of your rights regarding this matter.

Assuming the easements cause you no problems, you should be ready to close.
We will be happy to schedule a closing with the Title Company and with Flair
if you can provide us with a number of dates that are convenient for both of
you to appear at the closing.  We will be happy to appear as well.

Very truly yours,

Donald S. Stirman
DSS/csb
Enclosure
_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com


Michelle:

Would you review Sections 2.3 and 2.4 of this agreement and provide any
comments?

Thanks.

Teresa

Teresa G. Bushman
Enron North America Corp.
1400 Smith Street, EB 3835A
Houston, TX  77002
(713) 853-7895
fax (713) 646-3393
teresa.g.bushman@enron.com

----- Forwarded by Teresa G Bushman/HOU/ECT on 12/13/2000 10:01 AM -----

	Nora Dobin@ENRON
	12/08/2000 07:46 PM

		 To: Tim Proffitt/HOU/ECT@ECT, Chris Herron/Corp/Enron@Enron, Cris
Sherman/HOU/ECT@ECT, Stanley Farmer/Corp/Enron@ENRON, Kevin
Liss/Corp/Enron@ENRON, Teresa G Bushman/HOU/ECT@ECT, Scott
Josey/Corp/Enron@ENRON, C John Thompson/Corp/Enron@ENRON, Jesus
Melendrez/Corp/Enron@Enron, Mary Cook/HOU/ECT@ECT, Angela
Davis/NA/Enron@Enron, Tanya Rohauer/HOU/ECT@ECT, rainj@tklaw.com, Brenda L
Funk/HOU/ECT@ECT, Tammy Brennig/NA/Enron@Enron, Pam Becton/HOU/ECT@ECT
		 cc:
		 Subject: Joshua Tree - Balancing Agreement

Attached please find a first draft of the Balancing Agreement.  It is based
on the Cactus Tree form, updated for this deal.

Regards, NJD

Nora J. Dobin
Senior Counsel
Enron Global Finance
Enron Corp.
1400 Smith Street
Houston, Texas  77002

713/345-7723 (phone)
713/853-9252 (fax)
E-mail:  nora.dobin@enron.com


I haven't made a fool of myself for several days now, so count me in!

 -----Original Message-----
From: 	McKalip-Thompson, Catherine
Sent:	Thursday, November 15, 2001 4:53 PM
To:	Hrach, April; Brodbeck, Kelly; Browner, Victor; Calvert, Gray; Carranza, Octavio; Dasovich, Jeff; Deane, Ryan; Fillinger, Mark; Fukada, Cary; Ha, Vicky; Kelly, Derek; Kistler, Dave; Kromer, Steve; Ly, Aandy; Mara, Susan; Mcdonald, Michael; Mentan, Ron; O'Neal, Aida; Parquet, David; Perrino, Dave; Petrochko, Mona L.; Qureishi, Ibrahim; Russell, Dean; Schoen, Mary; Sezgen, Osman; Springer, Jason; Turnipseed, Edith; Wehn, Samuel; Wong, Michael; Yee, Dennis; Zavala, Cristina
Subject:	Fun activities to beat the blues

Anyone up for some fun lunchtime activities the last week of November?

They've put up the outdoor ice rink at Embarcadero center...
... and they rent skates....

How does Thursday the 29th sound?


Rick

I took a quick  look at the numbers for rationing and what has been achieved.

Orlando's statement that the impact on  EBITDA was US$ 63 million is very misleading.

For a simple reason that we are exchanging a U$ 75 million credit (Annex V) for a LOAN. Obviously, on an EBITDA basis, it may look terrific (this metrics does not take into consideration the payment of the loan). It assumes that the loan is free.

Let's for a second give the benefit of the doubt and assume that the loan is indeed free - because it would be repaid with tariff increases over next 36 months which would not be granted otherwise. In that case, the "credit"  becomes the loan (I only have the overall figure, but I assume that Elektro's share will be around US$ 40 million.

If that is the case, the result of the negotiation resulted in a U$ 35 million reduction (by excusing Annex V). If one assumes that the tariff increases would happen anyway, the loss is US$ 75 minus the benefit of a subsidized loan. If the latter is U$ 5 million (10% interest and 18% discount rate), the loss would be US 75 million - 5 = US$ 70 million

To summarize.

Orlando states that negotiations on rationing losses resulted on a benefit of U$ 63 million

I challenge that excusing Annex V has costed us something between US$ 35 to 70 million

I am not sure what we should do with those numbers. I am not naive to think that Annex V would be a piece of cake either.

I just want to note that the good news is  not indeed good news: Enron will lose money by foregiving Annex V. If that is a conscious decision made by Enron Corp., that is fine for me. But it has to be a well informed decision.

LM

P.S. As you know, press news are not reliable at all, but there was a news today saying that generators will be gaining up twice.

 -----Original Message-----
From: 	Maurer, Luiz
Sent:	Tuesday, November 13, 2001 4:54 PM
To:	Shapiro, Richard
Subject:	RE: ESA government negotiations/ corrected

My initial reaction:

1) Rationing Losses

I was afraid of this outcome. At least on the surface, I do not like it.

I have the impression that  it  washes away Elektro's initial long position as Elektro as it puts and end to Annex V discussions. I would have to see the numbers to check  that this solution is equivalent to Annex V (for Enron). It depends on how one defines "rationing losses".

This solution is perfect  for companies like AES, who were both short in the generation and  in the distribution  businesses. They win on both sides. How are they going to treat Annex V provisions when load curtailment reduces to 10% and Annex V becomes a liability for Elektro? What is going to happen with Annex V? (It may be part of the agreement - it is not clear though)

From an elecric sector perspective, this solution corroborates the bail out and the lack of contract sanctity. Bad for future investments.
It would be much more acceptable to increase bulk tariff for generators and allow full pass-through.

2) OK

3) This had already been achieved. It was an MP (Law) enacted by Minister Parente. The only way we were able to get it was to take Aneel to court (here comes my point again - why not being equally bold regarding Annex V? Perhaps AES influence on Abradee?)

What are the terms of final settlement? Will they have any provision regarding Annex V?

" By  solving the pending issues for the rationing losses, thus eliminating the Annex 5 controversy the MAE should function normally, allowing us to operate Eletrobolt and settle against the pool"

Three comments:

1) Technically not correct - MAE recently stopped because of a legal  injunction of Itaipu  energy.
2) It is key to have a functioning MAE for Eletrobolt. Why has Abradee voted in favor or procrastinating MAE operation three times in the recent past and Enron has not exercised a dissenting vote?

" Our team has led the sector negotiations for months since the rationing, and have been instrumental in convincing the government of the need for implementing these changes"

I would rather not comment on this statement

 -----Original Message-----
From: 	Shapiro, Richard
Sent:	Tuesday, November 13, 2001 4:20 PM
To:	Maurer, Luiz
Subject:	FW: ESA government negotiations/ corrected

 -----Original Message-----
From: 	Gonzalez, Orlando
Sent:	Tuesday, November 13, 2001 4:18 PM
To:	James A Hughes/ENRON_DEVELOPMENT@ENRON; Lavorato, John; Horton, Stanley; Shapiro, Richard; Mark E Haedicke/HOU/ECT@ENRON
Cc:	Assad, Sergio; Wiggs, Brett; Joao.Carlos.Albuquerque@enron.com; Soares, Britaldo; Novak, John
Subject:	ESA government negotiations/ corrected

Disegard previous e-mail.
We  reached a conceptual agreement with the government representatives on Sunday night.  The main points are:

     1. Rationing losses:   Defined methodology giving distribution companies recovery over the next 36 months of rationing losses realised   from June 01 until the end of rationing in 02. Recovery includes financial compensation. Immediate funding of 80% through BNDES, with Brazilian government funds. Loans liquidated over the 3 year period as tariff increases are realised.  Funding scheduled by December 15th.  Elektro Ebitda impact of approximately R$163 million or US$ 63 million. Corrected numbers in second email

       2.  April/May MAE settlement :   Market will settle under current rules due to pre-rationing conditions, confirming the procedures used on Elektro's books.  Impact of approximately R$ 18 million or US$ 7 million.

       3.  Parcel  "A" for the future:  All non-controlable costs to which LDC's are subjected to including power purchases, sector charges, are passed through to final tariffs either using a tracking account mechanism or by aligning adjustment dates with  the LDC tariff revision date.  Tracking account will be subject to financial compensation from the date costs are incurred until the effective pass through and collection , eliminating a major risk for the distribution sector. Elektro Ebitda impact  2002 forward of R$ 60 million or US$ 19 million, as had been considered in the 2002 plan.  This methodology represents major risk mitigation going forward, as the initial power supply contracts are renewed starting in 2003.

        4. Parcel A from the past:   Min Parente has agreed to the concept recovering non controllable  that were not passed through to tariffs since late 1999 using the same methodology agreed to for future recoveries and has a dedicated team from the Federal Attorney General's office targeting a final solution in ten days.    Elektro impact  is R$145 million or US$ 55 million in 2001. The proposed mechanism for recovery is after the 36 months for the rationing losses.

We are currently finalising a memo of understanding and the government team is winding up the settlement with the generators in order to finalize the terms of the overall agreement.

Min Parente has committed to resolving the open issues affecting investors in the power sector.  These  agreements represent a major step forward, significantly improving  the value of our businesses. By  solving the pending issues for the rationing losses, thus eliminating the Annex 5 controversy the MAE should function normally, allowing us to operate Eletrobolt and settle against the pool.

Total amounts for the sector represent about R$ 10 billion or US$3.8 billion at the current rates.  Our team has led the sector negotiations for months since the rationing, and have been instrumental in convincing the government of the need for implementing these changes.


Hello Vince,

We've now got some slick results on rigorous and replicable avg temp
forecasting models for twelve major U.S. cities, with implications for
weather derivative demand and supply (although they are not yet written
up formally).  Will you be in Phila anytime soon?  I would like to sit
down with you for a couple of hours to show you the results and
discuss.  Are you still interested in pursuing a joint project?  I am
excited about this.

All the best,

Frank

--
Francis X. Diebold
WP Carey Professor

Department of Economics
University of Pennsylvania
3718 Locust Walk
Philadelphia, PA 19104-6297

fdiebold@sas.upenn.edu
http://www.ssc.upenn.edu/~diebold

(215) 898-1507  telephone
(215) 573-4217  fax


It is my pleasure to announce Scott and Barbara Pleus as the proud parents of
a new baby girl, Catherine "Cati" Elizabeth, born Saturday, April 29, 2000,
at 8:25pm.  Cati weighed in at a bouncing 6 lbs. and 4 ounces and stretched
out to 20 inches in length!

Due to the new arrival, Scott Pleus will be out of the office all of this
week.  If there are any meetings or appointments that needs Scott's immediate
attention, please contact me at (713) 853-3540.   In addition, Scott will be
checking into the office regularly, and can be reached at home during day
hours.

Again, please join me in saying "Congratulations!" to the Pleus family on
their new arrival.

Thank you,

Inga Latson

Scott Pleus
Office#  (713) 853-6577
Home# (281) 261-0499
Pager# (713) 761-4808
Cellular# (281) 300-8286


THE TIME HAS COME TO CLEAN HOUSE!!!!   PLEASE USE THE INFORMATION BELOW TO HELP YOU DETERMINE WHAT TO SAVE AND WHAT TO THROW AWAY.

REMEMBER...YOU WILL ONLY BE TAKING AND PACKING FOUR (4) BOXES!!!!

Thanks for your help,

Power Admin. Team

OPERATION CLEAN SWEEP

Dates:
Friday, October 19th
Friday, October 26th
Friday, November 2nd
Friday, November 9th

Times:
1 PM to 5 PM

Purpose:
Minimize packing for move to Enron Center South
Disposal of all non-vital items
Proper disposal of confidential/sensitive materials (shredding)
Transfer of records to off-site storage
Clean area/leave in good order

What to Consider:
All items currently on floor
Any extra/unused supplies
Outdated equipment
Files in file cabinets
All items currently stored in boxes
Posters, plants, pictures

Disposal Options:
Take home (pictures, plants, etc.)
Trash
Shred (all sensitive documents)
Archiving/Records Retention
Recycling 1) paper; 2) extra office supplies/equipment (to be donated to area schools)

Resources available:
Trash Dumpsters
Paper recycle bins
Recycle/donation tables


Please remove my name, Tom Karier; and my email, tkarier@ewu.edu from your
list.

> -----Original Message-----
> From: RTO West Regional Representatives Group
> [mailto:RRGA-L@LIST.RTOWEST.ORG]On Behalf Of Dalia, Keith A - TOS-DITT1
> Sent: Tuesday, May 15, 2001 4:40 PM
> To: RRGA-L@LIST.RTOWEST.ORG
> Subject:
>
> You have been added to the RRGA-L mailing list (RTO West Congestion Model
> Content Group) by Keith Dalia <kadalia@BPA.GOV>.
>
> Please save this message for future  reference, especially if this is the
> first time you subscribe to an  electronic mailing list. If you ever need
> to  leave the  list,  you  will find  the  necessary instructions  below.
> Perhaps  more importantly,  saving a  copy of  this message  (and of  all
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>
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>
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>
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>
> More  information on  LISTSERV  commands  can be  found  in the  LISTSERV
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