---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 07/21/2000
10:28 AM ---------------------------

Ross Berthelot <rossberthelot@home.com> on 07/19/2000 07:17:28 PM
Please respond to rossberthelot@home.com
To: Alex Schott <ASCHOTT76@aol.com>, Allison Istre <a_istre@msn.com>, Amy
Allums <aallums@law.tulane.edu>, Ashly Morgan <ashly@eatel.net>, Ben
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cc:

Subject: [Fwd: This is great!!!!]

-------- Original Message --------
Subject: This is great!!!!
Date: Wed, 19 Jul 2000 11:04:36 -0500
From: mbrelan@lsu.edu
To: rossberthelot@home.com,
bryancallender@hotmail.com,brian.freeman@bellsouth.com,
kpmpmk@hotmail.com,david.Q.oliveaux@us.arthurandersen.com,
drouss2@lsu.edu,jjstrecker@yahoo.com

To:  mbrelan@lsu.edu, marlena_darby@fmi.com
cc:

Subject:  This is great!!!!

A preview of next season's MNF call:

--------------------
AL MICHAELS: Hello and welcome to another edition of ABC's Monday Night
Football, tonight broadcasting from beautiful Fed Ex Field in
Washington,
D.C. I'm Al Michaels, and joining me in the booth are two new members of
the ABC family, Dennis Miller and Dan Fouts.

DENNIS MILLER: Wow, Monday Night Football. I don't want to appear
nervous,
but I'm under more strain right now than Linda Tripp's capri pants. I
have
to tell you, I'm conflicted about this. I usually like to be the
outsider,
the rabble-rouser, the iconoclast, but I also like a nice seat at a
sporting
event.
And this seat is as nice as they get - except I think I took one of
Boomer's
old squeak toys up the *** when I sat down.
DAN FOUTS: I was a quarterback.
MILLER: Thanks for that insight, Mr. Peabody. Dan Fouts, everyone. I'm
looking over here, and he's giving me that same blank stare I see when I
put
my dog on the phone. Hey, this isn't the Senior Tour, Chi Chi. Try to
keep
up.
MICHAELS: Tonight the New England Patriots will try to get started on
the
right foot after a disappointing 8-8 showing last season. They take on
the
Washington Redskins, whose owner, Daniel Snyder, has paid out $65
million
in
free agent salaries and bonus payments in the offseason and is looking
for
results.
MILLER: Snyder is throwing around cash like a screech monkey playing
with
a
pop-up Kleenex dispenser. But he's a real hard-*** - it must be great to
coach this team. Norv Turner comes to work every day, hands his balls to
Gus, the 80-year-old equipment guy, who puts them in a footlocker behind
the
Stairmaster until the end of the game. Did you catch that one ***
-chewing
Turner received last season? Lee Harvey Oswald got off easier in that
little
room at the Dallas P.D. And when Turner finally got out of there you
could
tell he was looking around, desperately praying for Jack Ruby to show up
and
end his ****ing misery.
MICHAELS: The teams are on the field, and we're almost set for the
kickoff.
FOUTS: I was the quarterback. I didn't go on the field for the kickoff.
MILLER: Jesus, Shaggy, saunter on back to the Mystery Machine and take a
breather, OK? Why don't you pick up your brain off that pile of papers
it's
holding down and see what happens when you plug it in? The game's
starting,
and I feel like Corporal Agarn trying to explain supply and demand to
the
****ing Hakowis.
MICHAELS: As always, the Fuji Blimp makes its annual appearance at
Monday
Night Football. Glad to have you back, gentlemen.
MILLER: It is balloooooooooon! (high-pitched cackle).
MICHAELS: Starting at quarterback for the Redskins will be Jeff George,
whom
I guess one could call a journeyman at this point in his career.
MILLER: I have to admit, when I saw George on the roster I thought he
had
as
much chance of making the team as Linda Hunt on the set of Baywatch.
This
guy's been around - he's called a lot of plays under a lot of centers.
He's seen more giant asses than a guest chair on the Jerry Springer
Show.
MICHAELS: Snyder spent plenty in the offseason to sign star players such
as
Deion Sanders and Darrell Green on defense.
MILLER: Yeah, but look at that Fantasia broom army of social misfits the
Redskins call an offensive line. I have a feeling that George's
appearance
tonight is going to be shorter than Mini-Me stooping over to pick up one
of
Dr. Evil's monocles.
MICHAELS: George drops back to pass, moves out of the pocket and finds
the
veteran Michael Westbrook, who is tackled after an 11-yard gain.
MILLER: Look, I'm new, I don't know that much about defensive schemes.
But
it seems to me right there that the middle was as vacant as an interview
with Posh Spice.
FOUTS: I was in a Miller beer commercial, and your last name is Miller.
MILLER: Hey, Aristotle, save some of the probing insight for the rest of
us,
OK? How come I'm getting the funny feeling that this is an episode of
The
Munsters, and I'm Marian, the normal one? Now, I don't want to get off
on
a
rant here, but the useful comments coming from your side of the booth
could
be counted on the one hand of a bad wood shop teacher. I can still see
the
jelly on your forehead where the electroshock terminals were attached.
When
I took this job, they didn't tell me that I would be teamed with Pepe
the
Human Hamster on one side, and on the other a broken-down ex-quarterback
who
makes Jethro Bodine look like David Niven. I want to find the psychotic
network programmers who thought up this train wreck and point out that
this
**** has to be harder to watch than a sausage being made.
FOUTS: I like sausage.
MILLER: Ah **** it, where's my propeller hat?
MICHAELS: The handoff is to Stephen Davis, who is tackled at the 39-yard
line by defensive tackle Henry Thomas. But there's a flag on the play.
MILLER: I'd have to say that was the poorest result since O.J. took the
lie-detector test. And look at that ref, will ya? He's got more nervous
tics
than a Belfast valet.
MICHAELS: That play will be brought back, making it first and 20 from
the
49-yard line.
MILLER: Hey, who took my Raisinettes? Damn you, Roone Arledge! Damn you
to
hell!
MICHAELS: George back to pass ... and the throw to Westbrook falls
incomplete. Ty Law covering on the play.
MILLER: I don't want to be a downer here, but how about throwin' the
freakin' ball to the other side of the field, you know, cha-cha? You've
got
Westbrook drawing a bigger crowd than Anna Kournikova at the
maximum-security lockdown at Rikers, while meanwhile the kid on the
other
side is lonelier than a hooker at a Star Trek convention.
MICHAELS: To be fair, there have only been four plays so far.
MILLER: Come on Al, you missing link. That receiver is being shunned
like an Amish kid with a nipple ring. The left side of the field is to
George as a shower is to the French. You've got a better shot at hearing
Charlie
Sheen give the keynote address at a Promise Keepers rally than you do of
ever -
MICHAELS: Sorry to break in on you, Dennis, but Washington is guilty of
a
false start, and that will set them back another five yards.
MILLER: The ref is whipping out that flag like it's the only lighter at
a
crack house.
Later that evening:
MICHAELS: So your final score is Washington 17, New England 10. We're
headed
off to San Francisco for our next Monday night broadcast, hope to see
you
there.
MILLER: I may be late; I don't fly. It'll be me in my Chevy Nova playing
Mad
Max with the Madden Cruiser all the way down Route 66, and you'll know
I'm
winning when Pavorotti starts hurling six-legged turkeys out the
skylight
for ballast.
MICHAELS: What will you be doing with your remaining time in Washington,
D.C.?
FOUTS: Doing a little sightseeing.
MILLER: I'll be back at the hotel, masturbating like a red-assed monkey
watching the Banana Channel.
MICHAELS: So from all of us here at Monday Night Football, see you next
week...


Bill,

I am currently working on hypothecation of securities specifically  focusing
on the Mahonia structure. We would also like to realise the benefit of being
able to rehypothecate securities that we receive under other transactions (at
the last count in the region of $60mm).

I am working with Clement to ensure that we can get the Chase Domestic
Custody Agreement executed ASAP, & also working with Sara & Teresa to ensure
that  the Chase ISDA & Mahonia docs reflect our ability to rehypothecate
securities.

Additionally I have been having discussions and assistance from Wendi & Molly:
To get CRM sign-off for Sara & Teresa so they can proceed with amendments to
Chase & Mahonia docs
Sign-off from you regarding what tenors of US Govts will be acceptable as
defined in our standard wording for 'Description of Collateral', when we
amend the docs.
What is anticipated will be required from an operational perspective once the
docs have been amended, to enable us to start posting securities.

 I additionally requested the following info, and am more than happy to
review/assist in reviewing the docs so that we are in a position to realise
the benefits before year end. Wendi has also been very helpful in offering to
provide the info/docs for the following:
Who are the counterparties where we have existing collateral agreements that
permit rehypotheaction of securities? Can we immediately start
rehypothecating these securities once we have signed the Domestic Custody
Agreement with Chase? If not, what do we need to?
Who are the other counterparties posting us securities?
Counterparties identified to whom we can rehypothecate securities
Who are we currently in dialogue with re. assignment of securities, & what
stage of negotiations are we at?

I'm booking in a meeting with you later today to discuss primarily what
approval levels is for US Govts,  & another transaction.

Regards,

Soma

---------------------- Forwarded by Soma Ghosh/HOU/ECT on 11/16/2000 04:58 PM
---------------------------

Soma Ghosh
11/06/2000 05:14 PM
To: Sara Shackleton/HOU/ECT@ECT
cc: Tana Jones/HOU/ECT@ECT, Cris Sherman/HOU/ECT@ECT, Clement
Abrams/Corp/Enron@ENRON, Tim Proffitt/HOU/ECT@ECT
Subject: Rehypothecation of securities

Sara,

I have already had a brief discussion with Tana on some of the points below &
would appreciate your feedback and clarification on some specific issues.

We are currently looking at ability of Enron to rehypothecate securities
(principally T-bills) received as collateral.

Clearly the ability to rehypothecate securities that we hold can provide
significant benefits. The free up of funds that are being used to post cash
collateral to counterparties increases our B/S liquidity & reduces the total
cost of borrowing associated with posting cash.

We are reviewing the use rehypothecation of all securities posting for all
counterparties. Clement is in the process of executing a domestic custody
agreement with Chase Manhatten Bank which will facilitate rehypothecation.

More specifically we are looking at the ability to rehypothecate collateral
related to the most recent Mahonia pre-pay structure (very similar to Alberta
pre-pay).
The collateral arrangement within Mahonia provides for back to back transfer
of collateral right through the structure. This results in a net zero cash
position if all parties post cash. However if Enron receives securities (from
Chase) that we cannot reassign (to Mahonia - an SPE), the cash collateral
calls we are seeing are in the region of $600mm (approx. $42mm/yr in interest
expense to Enron).

In the past Chase have interchangeably used securities & cash. They are
currently posting cash, however they intend to post securities going forward
for this specific deal.

The most pressing issues going forward:
Does the existing Chase ISDA permit rehypothecation of securities. We are
looking at this. If it does not, then we will need to negotiate an amendment
to the credit support annex.
Accounting treatment - there are issues around the accounting treatment for
rehypothecation under the Mahonia transaction, principally relating to the
acceptability of the same securities posted by Chase being posted  to Mahonia
SPE (Chase equity in SPE), thus linking all the swaps & potentially bringing
the pre-pay back on B/S.
We need to justify that we can rehypothecate Chase securities posted within
the structure. AA's key point is that linkage occurs as the securities posted
are most likely to be registered to Chase &  these are then posted back to
Mahonia SPE with Chase equity.

Our case to support the use of Chase securities within the Mahonia pre-pay
structure relates to:
T-bills are highly liquid instruments & effectively cash equivalent
Securities posted by banks are typically registered to a street name ie a
brokerage house (ie not registered to Chase), if there is no physical
delivery. We are verifying that this is the case with the securities posted
by Chase.
Market standard contractual terms permit use of these posted securities

Re the last point, I have looked at our the standard ISDA credit support
annexe para. 6 (c) relating to Use of Posted Collateral, section (i). It
appears to say that regardless of a default occurring, the Secured Party
(Enron) has the right to "sell, pledge, rehypothecate, assign, invest, use,
commingle or otherwise dipose of, or otherwise use in its business any Posted
Collateral it holds............." Please confirm that that I have not
misinterpreted this or missed out relevant exclusions
- Cris, this standard ISDA language should further support our case to AA?.

In addition, I would like to clarify ownership & title to securities that are
rehypothecated in the event of default if a) Enron receives securities that
are then rehypothecated & Enron defaults b) the third party receiving
rehypothecated securities defaults

We are aiming to have the Domestic Custody Agreement executed within the next
10 days, & we would like to be in a position to assign securities posted to
us shortly thereafter for the Mahonia deal.

Outside of the Mahonia transaction, there is currently an additional $65mm
approx. in securities being posted to us by our counterparties. Going forward
we will:
Establish who are the counterparties where we have existing collateral
agreements that permit rehypotheaction of securities.
If we are receiving securities from CP where we are not permitted to
rehypothecate, we intend to amend the ISDA.

I would very much appreciate you response on use of posted collateral &
ownership & title to securities in the event of default.

Many thanks,

Soma


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FYI
 -----Original Message-----
From: 	Zisman, Stuart
Sent:	Monday, April 01, 2002 2:48 PM
To:	Schneider, Chip
Cc:	Semple, Robert; Bartlett, Jeff; Melendrez, Jesus; McMichael Jr., Ed; Racicot, Paul; Miller, Don (Asset Mktg); Sewell, Doug
Subject:	Form of Presentation to the BTRC

Chip,

As you are aware, I met with Bob Semple this morning regarding the presentations being made before the BTRC.  Bob is of the view that these presentations are often too long and detailed for the entire BTRC audience and that the presentation style/format should be modified slightly.  We agreed on the following:  (1) the old presentations (which were generally several pages in length and contained more detailed information) should continue to be prepared, (2) an "executive summary" should be prepared (on a single page) as a cover sheet to the "old style" presentation, (3) the executive summary should be limited to the proposed transaction, associated economics and other highly pertinent information (such as ownership, debtor vs. non-debtor, third party liabilities, etc.) and (4) the actual presentation at the BTRC meeting should be limited to the items reflected on the executive summary and although the "old style" presentations should be distributed to BTRC participants (under cover of the executive summary), the information contained therein should not be discussed or referred to unless questions arise during the BTRC meeting that justify doing so.

If any of this is unclear (or if you have a principled objection to making this change), please give me a call.

Thanks

Stuart


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<<X23910.DOC>>
Here is the memo re the possible SCE-Enron deal. Please advise if you need
anything different. Mike Day

 - X23910.DOC


Just hoping I guess.   B/c mom already told me I wasn't getting anything from
them, and I haven't picked out anything from the Grandmas, so even if I do
get something it just means I'm going to have to find some corner of the
closet to hide it in!!  How was that for a run on sentence!  I'm not sure I
believe we're going to have sleet here tomorrow.  It's still hot and muggy
outside now.

Talk to ya later,
Robin

Paul Rodrigue <paulrodrigue@yahoo.com> on 12/11/2000 10:25:07 AM
Please respond to paul_rodrigue@bigfoot.com
To: Robin.Rodrigue@enron.com
cc:
Subject: Re:

What makes you think I got you any presents?

--- Robin.Rodrigue@enron.com wrote:
>
> Before you go mail me your house keys and tell me
> where you've hidden my
> Christmas presents.  Sorry we won't get to see you
> for Christmas.  Hope you
> like Chicago.  Maybe you'll make it back by Easter.
>
> Ruston was good.  The game was awesome!!  It was so
> loud in there my ears
> were ringing when I left.  We lost but it was a much
> closer game than I
> expected.  My favorite part was when Pat Summitt was
> whining and the crowd
> starting chanting "Sit down, Pat!"
>
> Keith and Susan was crazy as usual.  I had a blast
> over there.
>
> Talk to ya later.  Good luck with your trip.
>
>
>
>
> Paul Rodrigue <paulrodrigue@yahoo.com> on 12/11/2000
> 09:33:18 AM
>
> Please respond to paul_rodrigue@bigfoot.com
>
> To:   Robin.Rodrigue@enron.com
> cc:
> Subject:
>
>
> So how is Ruston? Anything exciting going on?
>
> I'm heading to Chicogo this week. (St. Charles
> actually) I'm hoping that I will even make it. The
> weather is so bad up there that they are cancelling
> flights now. And what am I supposed to do once I'm
> there? Do you think that this poor little Texas boy
> has ice and snow clothes? What use would I have for
> a
> wool coat down here. I'm going to freeze my tushy
> off.
>
> __________________________________________________
> Do You Yahoo!?
> Yahoo! Shopping - Thousands of Stores. Millions of
> Products.
> http://shopping.yahoo.com/
>
>
>
>
>
>

__________________________________________________
Do You Yahoo!?
Yahoo! Shopping - Thousands of Stores. Millions of Products.
http://shopping.yahoo.com/


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Broadcom Unveils World's First Gigabit Ethernet Controller with Support
for PCI-X Standard=BCM5700 Demonstrates Higher Performance and Lower CPU
Utilization Than Any Other Commercially Available Solution

IRVINE, Calif., Dec 11, 2000 (BUSINESS WIRE) -- Broadcom Corporation
(Nasdaq:BRCM), the leading provider of integrated circuits enabling broadband
communications, today extended its leadership position in Gigabit Ethernet
with
the introduction of the world's first Gigabit Ethernet Media Access Controller
(MAC) chip that supports Peripheral Computer Interconnect (PCI) and PCI-X
local
bus interfaces for use in network interface cards (NIC) and LAN-on-Motherboard
(LOM) implementations.

The company's first Gigabit Ethernet MAC, the Broadcom(R) BCM5700, which comes
with a comprehensive suite of software, sets a new standard in the industry
for
performance and on-chip integration. Broadcom's high performance 10/100/1000
BASE-T MAC is complemented by its broad family of Gigabit Ethernet transceiver
chips and will enable the company to provide customers with complete
MAC/transceiver solutions that will drive down the cost of Gigabit Ethernet in
next-generation servers, workstations, and desktop computers. Furthermore,
Broadcom's strategic alliance announced today with 3Com Corporation, the most
preferred brand and channel for network interface cards and LOM networking
solutions, will further accelerate customer migration from Fast Ethernet to
Gigabit Ethernet.

"By delivering leading edge MAC, transceiver and software technology with
unprecedented levels of integration, Broadcom is driving up performance while
driving down the price points to enable widespread adoption of Gigabit
Ethernet," said Marty Colombatto, Vice President and General Manager of
Broadcom's Networking Business Unit. "Broadcom's initiative to develop Gigabit
MAC technology is strategic to our overall commitment to deliver to our
customers the highest level of integration and performance for the advancement
of corporate networks."

Broadcom's first generation Gigabit Ethernet controller provides an
unprecedented level of integration, combining support for 10/100/1000 Megabit
per second (Mbps) operation, dual high-speed on-chip processors, 128KB of
integrated on-chip memory, advanced packet classification engines, and PCI
/PCI-X 1.0 local bus interconnects in a single-chip solution. Triple speed
(10,
100, and 1000 Mbps) support with standard-based auto-negotiation allows
server,
workstation and desktop computer manufacturers to build solutions that can
transparently interface with Ethernet, Fast Ethernet and Gigabit Ethernet
technology over the existing Category 5 cabling infrastructure, and provides
an
easy path for migrating legacy 10 Mbps and 10/100 Mbps networks to Gigabit
speed.

The BCM5700 is the industry's first Gigabit MAC to incorporate the recently
approved PCI-X v1.0 local bus interface specification allowing data transfer
rates of up to 1.066 Gigabytes per second between the controller and the
system.
Support for PCI-X enables Broadcom's Gigabit Ethernet MAC to maintain traffic
at
Gigabit speeds in I/O intensive server applications where multiple
communication
and storage peripheral devices share the same I/O bus. Broadcom's support for
the new PCI-X interface demonstrates the company's commitment to delivering
leading edge I/O technology for servers and workstations.

According to Bert McComas, analyst for InQuest Market research, "By the middle
of 2001, we expect that PCI-X will be enabled in new mainstream server
platforms
from all leading server vendors. PCI-X builds on the momentum of PCI as the
most
widely supported I/O standard in the world, and defines a clear path to
satisfy
next generation server I/O performance demands."

Gigabit Ethernet provides ten times the performance of today's 10/100 BASE-T
server, workstation, and desktop network connections. This leap forward in
performance is especially critical for today's servers and workstations that
are
already being bottlenecked by aging 10/100 Ethernet connections. With Internet
traffic doubling every three to six months, accelerating the performance and
communication speed of the server is critical for enhancing end-users'
Internet
and e-Business experience.

Early tests show the BCM5700 raises the bar for the competition in both
throughput and host CPU efficiency. By focusing on total performance of the
system, the architecture of the BCM5700 enables servers and workstations not
only to communicate faster but also to reduce the consumption of valuable
system
resources needed to reach Gigabit communications speeds.

PCI-X is an extension of the widely accepted PCI standard for data transfer
between CPUs and I/O peripherals and is becoming widely used by manufacturers
for speeding the flow of data within servers, storage area networks and
network
switches. Backwards compatible with the high performance PCI local bus
specification, PCI-X offers an immediate solution to the increased I/O
requirements for high-bandwidth applications such as Gigabit Ethernet, Fibre
Channel, Ultra3 SCSI and high-performance graphics. PCI-X supports 32-bit and
64-bit operations at frequencies up to 133 MHz, allowing data throughput of
over
1 Gigabyte per second.

Broadcom also offers the most complete suite of software for server
applications
supporting all leading operating systems. This software suite is already
undergoing extensive system-level qualification by leading server OEMs.
Broadcom's server software package includes multi-vendor fail-over, IEEE
802.3AD
port aggregation, Layer 3 switch-independent Smart-Load-Balancing(TM),
Hot-Plug
PCI, IEEE 802.1Q VLAN tagging, and IEEE 802.1P traffic prioritization for
Quality of Service (QoS), cable analyzer, and advanced diagnostics and control
functions. The combined BCM5700 MAC and server software solution demonstrates
superior functionality to any other Gigabit Ethernet NIC or LOM solution
commercially available today.

A complete NIC and LOM solution is achieved by combining the BCM5700 with one
of
Broadcom's market leading Gigabit Ethernet transceivers, which support the
three
Ethernet speeds - 10, 100, and 1000 Mbps - in a single-chip solution with
intelligent networking functions, such as cable diagnostics and auto network
detection. Having shipped over a million Gigabit Ethernet ports, Broadcom
continues to extend its leadership position in Gigabit Ethernet, with the
broadest, most advanced family of Gigabit Ethernet transceivers. Broadcom's
Gigabit Ethernet transceiver architecture is the only solution that has been
proven in actual high-volume field deployment. Furthermore, Broadcom's Gigabit
Ethernet transceiver architecture has completed over eighteen months of
extensive system- and device-level testing in real-world and "worse-case"
cable
plants by hundreds of engineers in dozens of test sites worldwide.

Pricing and Availability

Broadcom's Gigabit Ethernet MAC and Phy chipset solution is available now and
is
priced at $59.

About Broadcom

Broadcom Corporation is the leading provider of highly integrated silicon
solutions that enable broadband digital transmission of voice, video, and
data.
Using proprietary technologies and advanced design methodologies, the company
designs, develops and supplies integrated circuits for a number of the most
significant broadband communications markets, including the markets for cable
set-top boxes, cable modems, high-speed local, metropolitan and wide area
networks, home networking, Voice over Internet Protocol (VoIP), carrier
access,
residential broadband gateways, direct broadcast satellite and terrestrial
digital broadcast, optical networking, digital subscriber lines (xDSL) and
wireless communications. Broadcom is headquartered in Irvine, Calif., and may
be
contacted at 949-450-8700 or at www.broadcom.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995:

This release may contain forward-looking statements based on our current
expectations, estimates and projections about our industry, management's
beliefs, and certain assumptions made by us. Words such as "anticipates,"
"expects," "intends," "plans," "believes," "seeks," "estimates," "may," "will"
and variations of these words or similar expressions are intended to identify
forward-looking statements. In addition, any statements that refer to
expectations, projections or other characterizations of future events or
circumstances, including any underlying assumptions, are forward-looking
statements. These statements are not guarantees of future performance and are
subject to certain risks, uncertainties and assumptions that are difficult to
predict. Therefore, our actual results could differ materially and adversely
from those expressed in any forward-looking statements as a result of various
factors.

Important factors that may cause such a difference for Broadcom in connection
with the BCM5700 product include, but are not limited to, the timing and
successful completion of technology and product development through volume
production; the rate at which our present and future customers and end-users
adopt Broadcom's technologies and products in the markets for Gigabit
Ethernet;
delays in the adoption and acceptance of industry standards in the foregoing
markets; the timing of customer-industry qualification and certification of
our
products and the risks of non-qualification or non-certification; the timing,
rescheduling or cancellation of significant customer orders; the loss of a key
customer; the volume of our product sales and pricing concessions on volume
sales; silicon wafer pricing and the availability of foundry and assembly
capacity and raw materials; the qualification, availability and pricing of
competing products and technologies and the resulting effects on sales and
pricing of our products; intellectual property disputes and customer
indemnification claims; fluctuations in the manufacturing yields of our third
party semiconductor foundries and other problems or delays in the fabrication,
assembly, testing or delivery of our products; our ability to specify, develop
or acquire, complete, introduce, market and transition to volume production
new
products and technologies in a timely manner; the effects of new and emerging
technologies; the effectiveness of our product cost reduction efforts; the
risks
of producing products with new suppliers and at new fabrication and assembly
facilities; problems or delays that we may face in shifting our products to
smaller geometry process technologies and in achieving higher levels of design
integration; the risks and uncertainties associated with our international
operations; our ability to retain and hire key executives, technical personnel
and other employees in the numbers, with the capabilities, and at the
compensation levels needed to implement our business and product plans;
changes
in our product or customer mix; the quality of our products and any
remediation
costs; the effects of natural disasters and other events beyond our control;
the
level of orders received that can be shipped in a fiscal quarter; general
economic conditions and specific conditions in the markets we address; and
other
factors.

Our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, recent Current
Reports on Forms 8-K and 8-K/A, and other Securities and Exchange Commission
filings discuss some of the important risk factors that may affect our
business,
results of operations and financial condition. We undertake no obligation to
revise or update publicly any forward-looking statements for any reason.

Note to Editors: Broadcom(R), Smart-Load-Balancing and the pulse logo are
trademarks of Broadcom Corporation and/or its affiliates in the United States
and certain other countries.

CONTACT:          Broadcom Corporation, Irvine
Laura Brandlin, (Trade Press), 949/585-5108
lbrandlin@broadcom.com
or
Greg Young, (Technical Contact), 949/585-6858
gyoung@broadcom.com
or
Bill Blanning or Eileen Algaze, (Business Press)
949/585-5555 or 949/585-5971
blanning@broadcom.com
ealgaze@broadcom.com

URL:              http://www.businesswire.com
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Copyright (C) 2000 Business Wire.  All rights reserved.

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It looks like people are going to start arriving around 7:00 so I'd say just
show up after your done running and getting all pretty.  I'm sure we'll all
be there till at least 10:00.


Scott,
I currently have view only access for EOL.  Can you set me up with a transaction id?  I will run Columbia Gulf Mainline, unless you have other plans.
Scott


remember this.  we might need to go check it out after  the game.
---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 09/06/2000
04:30 PM ---------------------------

"Marcantel MM (Mitch)" <MMMarcantel@equiva.com> on 09/06/2000 02:45:11 PM
To: "'Matthew.Lenhart@enron.com'" <Matthew.Lenhart@enron.com>
cc:

Subject: FW: ONE WEEK till Pajama Pub Crawl

I hear this is pretty easy action. I guy I play softball with on Mondays
goes to these things. He said you just get hammered and go back to the hotel
and hit it.

-----Original Message-----
From: ClubMonkey Events [mailto:clubmonkey@indata.net]
Sent: Monday, September 04, 2000 11:36 PM
To: HoustonTNDC
Subject: ONE WEEK till Pajama Pub Crawl

HoustonTNDC - www.houstontndc.com

This is your last chance to sign up!!!!Only a few spots are left!
Once they are gone you are SOL
09.09.2000
It is back!!!.....Summer Pajama Pub Crawl
THIS IS THE LAST PJ CRAWL OF 2000
Here is what you get:
Hotel accommodations at the Radisson Astrodome
Limo Bus to all Locations
Free Covers, drink specials at all bars..plus more to come!!
Tickets are $40 and available on-line at The ClubMonkey Store
http://store.yahoo.com/clubmonkey
Special package: PJ Crawl tickets with The Clubmonkey Glass only $45
get a glass for $5 regularly $10 at http://store.yahoo.com/clubmonkey/

We will also have commemorative t-shirts for the pub crawl check the
Clubmonkey store for details or get them at the event

This event will benefit End Hunger Network. So please bring any
non-perishable items you would like to donate!...you will get a free
Koozie to hold your cold drinks for your charitable donation.

Make your reservations NOW!!!!  This event fills up FAST!!!!
If you need an alternate payment method send an email to
info@clubmonkey.com

For non-advance tickets.
The price will be $60 at the door, cash only.

 *****Check this out*****  The ClubMonkey Glass will be available
The ClubMonkey Glass is:
Drink Specials all the time!!!!!  Get awesome drink specials every day
of the week at all ClubMonkey sponsor bars...Buy on-line or at your
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http://www.clubmonkey.com/clubmonkey_glass.htm for all the details.

Remember every Wednesday night at Scudiero's is ClubMonkey Night!
We have our very own DJ Jager slammin out all your favorite ass shaking
tunes.
We have $3.00 Well Drinks in your Clubmonkey glass....That is a 16oz well!!!
We also have $9.00 longneck buckets!!  Not just domestics...anything!
You can get you ClubMonkey glass at the bar.
Come join us starting every Wednesday starting at 8pm.
Scudiero's 817 W. Dallas  713.490.0235

Thanks
The Monkey

------------------------------------------------------------------------
Check out www.clubmonkey.com for all the happening Houston nightlife
details!

For more info on anything just reply to this message
Also to be removed from this mailing list please reply to this message
with the word "REMOVE" in the subject line

______________________________________________________________________
To unsubscribe, write to HoustonTNDC-unsubscribe@listbot.com

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Audrey,

Here they are.

Thanks, Kim.


Could you change paragraph iii at the end of Representations and Warranties
to read:

"(iii) its obligations to make payments hereunder are unsubordinated
obligations and such payments are operating and maintenance costs which
enjoy first priority of payment under the ordinances of the City of San
Antonio which govern payments by Customer."

There are no indentures to which CPS is a party.  Thanks ...

-----Original Message-----
From: Jon Wood [mailto:jwood@mattbran.com]
Sent: Thursday, November 02, 2000 11:15 AM
To: 'Pfister, Christian W.'; Jon Wood
Cc: Mc Whirter, Daniel D.
Subject: RE: Enfolio Contract with CPS

Change the clause after "first priority payment" in (iii) to "under the
ordinances of the City of San Antonio which govern payments by Customer."
There are no indentures to which CPS is a party.  Jon

-----Original Message-----
From: Pfister, Christian W. [mailto:CWPfister@cps-satx.com]
Sent: Thursday, November 02, 2000 8:29 AM
To: 'jwood@mattbran.com'
Cc: Mc Whirter, Daniel D.
Subject: FW: Enfolio Contract with CPS

Mr. Wood,

As requested, Enfolio shortened and simplified the section on
Representations and Warranties.  The new language is highlighted on page 2
of the Appendix and states the following:

"Further and with respect to Customer only, Customer represents and warrants
to Company continuing throughout the term of this Agreement as follows: (i)
all acts necessary to the valid execution and performance of this Agreement
have been duly adopted, (ii) with respect to the contractual obligations
hereunder and performance thereof, it is not entitled to claim immunity on
the grounds of sovereignty or similar grounds with respect to itself or its
revenues, (iii) its obligations to make payments hereunder are
unsubordinated obligations and such payments are operating and maintenance
costs which enjoy first priority of payment at all times under any and all
indentures to which it is a party."

Do you feel that this language is acceptable?  Thank you for your advice.

-----Original Message-----
From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com]
Sent: Wednesday, November 01, 2000 5:17 PM
To: CWPfister@cps-satx.com
Cc: Mc Whirter, Daniel D.; ."'James.I.Ducote""@enron.com'"
Subject: RE: Enfolio Contract with CPS

Please review the revised representations and warranties language. If
acceptable, please print 2 copies, sign and forward to Janet Wallis at
Enron for execution by Enron and return of one fully executed copy.
(See attached file: CITYPublicServiceSanAntonio.doc)

                    "Pfister,

                    Christian W."         To:     "'Dan.J.Hyvl@enron.com'"

                    <CWPfister@cps        <Dan.J.Hyvl@enron.com>,

                    -satx.com>            "'James.I.Ducote@enron.com'"

                                          <James.I.Ducote@enron.com>

                    10/30/2000            cc:     "Mc Whirter, Daniel D."

                    12:18 PM              <DDMcWhirter@cps-satx.com>

                                          Subject:     RE: Enfolio Contract
with CPS

If you could redraft the "representations and warranties" provision to be
simpler and clearer, I think that we could agree to it.  The other items
look fine.

-----Original Message-----
From: Jon Wood [mailto:jwood@mattbran.com]
Sent: Saturday, October 28, 2000 10:45 AM
To: 'Pfister, Christian W.'
Cc: 'ksyates@cps-satx.com'; Howard Bye
Subject: RE: Enfolio Contract with CPS

My reading is that Enron seeks a continuing representation that (i) all
transactions have the appropriate approval, waiving any defense of lack of
authority, (ii) there is no sovereign immunity (something is left out of
thelanguage) defense to any transaction, (iii) payment for the gas will be
first in the flow of funds, and (iv) the obligations are not subject to
debt
restrictions or other public funds restrictions of the Texas Constitution,
statutes or CPS constituency documents.  I think we can legally make these
representations and warranties, but the language needs some work.  You
should ask them to redraft this provision so it is simpler and clearer.
Jon

-----Original Message-----
From: Pfister, Christian W. [mailto:CWPfister@cps-satx.com]
Sent: Monday, October 23, 2000 2:16 PM
To: 'jwood@mattbran.com'
Subject: FW: Enfolio Contract with CPS

Mr. Wood,

This is a spot gas contract with Enron that you reviewed on August 8th for
Mary Pelayo and Danny McWhirter.  Enron has added a paragraph under
"Representations and Warranties" that I would like you to review.  I am not
sure exactly what it means.  Thank you.

-----Original Message-----
From: Yates, Katherine S.
Sent: Monday, October 23, 2000 1:52 PM
To: Pfister, Christian W.
Subject: RE: Enfolio Contract with CPS

Sounds like legal mumbo jumbo. I would advise getting John't input in case
he is more familiar with the reasoning behind this jargon.

Katherine S. Yates
CPS Attorney
353-2069

-----Original Message-----
From: Pfister, Christian W.
Sent: Monday, October 23, 2000 1:40 PM
To: Yates, Katherine S.
Subject: FW: Enfolio Contract with CPS

Kathy,

This spot gas contract was reviewed by Jon Wood a few months ago.  The
following was added under "Representations and Warranties" by Enron.  I
have
highlighted the text in the attachment so you can see where it was
incorporated (page 2 of Appendix 1).

"Further and with respect to Customer only, Customer represents and
warrants
to Company continuing throughout the term of this Agreement as follows:
(i)
all acts necessary to the valid execution and performance of this Agreement
have been duly adopted, (ii) with respect to the contractual obligations
hereunder and performance thereof, it is not entitled to itself or its
revenues or assets from (a) suit, (b) jurisdiction of court, (c) relief by
way of injunction, order for specific performance or recovery of property,
(d) attachment of assets or (e) execution or enforcement of any judgment,
(iii) its obligations to make payments hereunder are unsubordinated
obligations and such payments are operating and maintenance costs which
enjoy first priority of payment at all times under any and all indentures
to
which it is a party, its constitutional and governing documents and
applicable law, and (iv) its obligations to make payments hereunder do not
constitute any kind of indebtedness of Customer or create any kind of lien
on, or security interest in, any property or revenues of Customer which, in
either case , is proscribed by any provision of its constitutional and
governing documents, any order to judgment of any court or other agency of
government applicable to it or its assets, or any contractual restriction
binding on or affecting it or any of its assets."

Do you think this is acceptable, or do you think I should show this added
paragraph to Jon Wood?

-----Original Message-----
From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com]
Sent: Thursday, October 19, 2000 2:51 PM
To: Pfister, Christian W.; Mc Whirter, Daniel D.
Cc: James.I.Ducote@enron.com; Janet.H.Wallis@enron.com
Subject: Re: Enfolio Contract with CPS

(See attached file: CITYPublicServiceSanAntonio.doc)

Attached please find a revised Enfolio Contract with CPS.  The changes
      incorporated in the attached contract are:
1)  "City Public Service (San Antonio)" has been changed to "The City of
      San Antonio, acting through City Public Service Board".
2)  The effective date has been changed to "October 1, 2000.
3)  The changes requested in items 1 and 2 of the addendum have been
      incorporated.
4) The Utilization of Small Business Concerns language has been added as
      the last item in Appendix "1", and
5)  An additional representation has been added at the end of the
      Representations and Warranties in Appendix "1" relating to the
      necessary authorizations with respect to the execution, delivery and
      performance by Customer of  this Agreement.

If these changes are acceptable please advise and we will forward two
      original copies for execution.


Announcement

Kevin Garland has joined the Sterling Group as a Principal.  Kevin spent the
last 7 years at Enron, where he most recently was Managing Director in
charge of Enron's private equity business.

Since its founding in 1982, Sterling has focused on making equity
investments in LBO transactions and other acquisition-related financings,
primarily in industrial operating businesses.  Sterling has sponsored the
buyouts of 26 companies and 20 add-on acquisitions for a total transaction
value of $6.0 billion.

Kevin joins the other Principals of Sterling:  Frank Hevrdejs, William
Oehmig, Hunter Nelson, and John Hawkins, who have a combined 50 years at the
firm.

Contact Information:

Kevin Garland
Principal
The Sterling Group
Eight Greenway Plaza
Houston, Texas  77046
Work Phone:  713-877-8257
Cell Phone:  713-598-1653
kgarland@sterlinggrp.net


Vince:

   As way of introduction, I wanted to write a bit about Mars inc. and then
about CDS,
the unit I head.  Mars is a private company, considered to be the largest
privately owned
manufacturing company in the world.  Mars is not in the habit of disclosing
its
finances,
so the best I could do is refer to Forbes' estimate of $15 Billion annual
revenue and
to the profit margins of similar companies between 5-12%.  Mars is in the
business of
manufacturing confectionery (m&m, Dove bar, skittles, twix, - all (R))
food (Uncle Ben rice (R))  pet food (Pedigree, Whiskas Waltham (R)) and other
products.

Mars has prospered during the years because of a unique philosophy that
emphasizes the
long term goals of the company.  Part of the philosophy is to look for win-win
solutions with
its suppliers, customers and partners.

As can be understood from the nature of the company, a large chunk of its
expenses
goes towards purchasing commodity like products, and hence the history of
researching
those commodities and the weather that influences their supply and the demand
(people
eat less ice cream in the winter and less chocolate in the summer).

CDS has a history of few decades in forecasting  weather and has been very
successful,
with an envious track record, in helping Mars get a competitive advantage in
these arenas.
CDS is a global group (in 4 countries across two continents) which supports
the
purchasing
function and the corporate at large in these and other arenas.  It is a
multidiscipline and
multinational team with a lot to offer.

Not having a ready access to the energy markets, and with a risk profile based
on
manufacturing expertise, Mars has decided to look for potential partners in
this
area.
Enron presence in the market place certainly makes it an interesting party to
talk to.

In talking to Enron, we are careful to suggest that Mars is not committing to
anything
at this point, and all we are after is to find out if there is an interest to
pursue the opportunity
we discussed in the future.

I am looking forward to our video conference call.

Kind regards,

Avi

---------------------------------------
Avi I. Hauser  PhD MBA
CDS Director
100 International Drive Mt Olive NJ 07828-1383
+ 1 973 691 3664 (office)
+ 1 973 347 8189 (fax)
+ 1 973 727 3622 (car + slow paging)
hauser@cdsusa.com


John,

Lets discuss.  When are you and Mark ready to meet again?
---------------------- Forwarded by Phil DeMoes/Corp/Enron on 12/12/2000
08:50 AM ---------------------------

Les Webber @ ENRON_DEVELOPMENT

12/11/2000 02:09 PM
To: Phil DeMoes/Corp/Enron@ENRON
cc:

Subject: DESTIN DIFFERENTIAL

Phil:

Just wanted to check on this differential:

Destin versus Henry Hub - $0.04 per MMBtu

You indicated that this is a 10 year differential, 2004 +.

Is this to buy or to sell?  Is there any difference or is it very liquid?

Regards.
Les


$50,000 is pre-match, so I guess the ultimate goal is $100,000 (Like the poor
guy doesn't have enough pressure!).  Mark, this is very generous of you.
Good luck with your ride and I'll see you in LaGrange!  SRS

	Enron Energy Services

	From:  Mark S Muller @ EES                           04/20/2001 08:14 AM

To: Jeff Skilling/Corp/Enron@ENRON
cc:

Subject: Re:

even though i too am riding for the 9th time to austin.....and attempting to
raise big bucks....i'll help the "Big Cheese"..put me down for $500 pre
match....is your $50,000  pre match ?

Jeff Skilling@ENRON
04/19/2001 05:18 PM

Sent by: Sherri Sera@ENRON
To: Cliff Baxter/HOU/ECT@ECT, Rick Buy/HOU/ECT, Ben Glisan/HOU/ECT@ECT,
Steven J Kean/NA/Enron@Enron, Jeffrey Sherrick/Corp/Enron, Philippe A
Bibi/HOU/ECT, Michael Brown/NA/Enron, Wade
Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, James A Hughes/ENRON_DEVELOPMENT,
Louise Kitchen/HOU/ECT@ECT, Rebecca McDonald/ENRON_DEVELOPMENT, Greg
Piper/Corp/Enron, John Sherriff/LON/ECT@ECT, Greg Whalley/HOU/ECT@ECT, Janet
R Dietrich/HOU/EES@EES, Mark S Muller/HOU/EES@EES, Matthew
Scrimshaw/LON/ECT@ECT, David Cox/Enron Communications@Enron Communications,
Kevin Hannon/Enron Communications@Enron Communications, Rod
Hayslett/FGT/Enron, Stan Horton/Houston/Eott@Eott, Danny
McCarty/ET&S/Enron@Enron
cc:
Subject:

I know how incredibly busy you all are, so I'm sure that making a pledge to
Jeff for the MS150 has simply slipped your mind.  Well the ride is this
weekend, time is running out and we need you!

Enron's goal is to raise $700,000, and Jeff's personal goal is to raise
$50,000.  As of today, we are a little better than half way there.  Won't you
consider helping him reach his goal?

Thanks for your consideration.  I look forward to hearing from you tomorrow...

Sherri :-)


Three to-dos on our Mavrix meeting:
1.  Follow up and make sure the officers get set up correctly.
2.  Talk to Perry Frazier in planning--he is keeping copies of the actual EBB
postings showing that we have had the Ignacio-Thoreau piece of capacity
posted (the 33,000/d).  I'd like you to keep copies of those postings in your
file until Mavrix actually buys that capacity.  If we end up in a fight at
some time, we'll be able to prove the postings were out there, because the
actual postings are not electronically archived, I am told.
3. All Mavrix deals will need initials from legal--probably you, Susan.  For
now, please let me know of any deals Mavrix does with non-Enron pipes.  For
Enron pipes, of course, contract approval will be via our ordinary procedures
and MKM's group and I should be advised as a matter of course.

Thanks.  DF


why is mirant not included in the lobbying operation..they have some of the
most effective lobbyists..


In preparation for the upcoming move to Enron Center South we are moving your Home Directories to a new trading cluster.

WHAT YOU NEED TO DO:
This will occur for you this EVENING after 6PM.
We will need to restart your computer in order to complete this action.
Please log out or your computer by 6PM, if the machine is not logged off we will reboot the machine in order to complete these actions.
Save your data before going home this evening.
If you have outstanding circumstances that we should address, please reply to this e-mail and we will change our schedule accordingly.

HERE ARE A FEW OF THE BENEFITS OF THIS ACTION:
Newer, more stable environment
More disk space available for common data
Faster network connections

HOW THIS WILL EFFECT YOU:
If you are a laptop user and have to work at home, you should save any work to your 'C:' drive on the laptop.  DO NOT use the "My Documents" folder.  When you return to work and reconnect to the network, any changes made to files/folders in the "My Documents" folder may be deleted from the laptop.
Laptops reconnecting to the network for the first time will receive a synchronization error.

RESOLUTION:
Please call the Resolution Center (x3-1411) and they will correct the problem ASAP.
We will have additional Technicians available on the floor if the Resolution Center has any problems.


Dear Market Participants,

Please disregard the previous notice - the date was incorrect
and the message was incomplete.

Please note the changes below are planned for the indicated
OASIS/MIS/CSS systems on the dates shown.  Updates and revisions
will follow as needed to keep you informed.
Please direct any questions or comments back to me.

Thank you,
Pete Morrison
Customer Relations
518-356-6060

##################################################################
Scheduled for 11/30/00 & 12/5/00
Change type - Enhancement
Description:
Import Bilateral Fix.  Changes to billing software were made to
balance import transactions in real time for Balancing TUC's and
Balancing LBMP, and to calculate the balancing of load buses in
real time where imports are settled at what they were bid, not at
what they are scheduled.  The change was not factored in the June
re-bill.

The 12/05/00 backup dispatch test is the regularly scheduled
monthly test done by Operations.
RDEY-4MZP3S; RMAI-4RHMEV
##################################################################
Scheduled for 12/06/00
Change type - Enhancement
Description:
The Manual Dispatch System (MDS) will be modified to reflect the
recent transfer in ownership of Indian Point 3; the DNI values for
that unit will be included in the DNI calculation for ConEd

?s
region.
Real-time systems will be modified to send 10-minute SCD
basepoints during reserve pickups in place of the 6 second UDG
basepoints, to units via ICCP and Bisync communications .
JCWG-4RBSEJ; RDEY-4RJPHZ;
##################################################################


print
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 10/23/2000
08:17 AM ---------------------------

	Enron Capital & Trade Resources Corp. - Europe

	From:  Chris Connelly                           10/22/2000 07:02 AM

To: George McClellan/HOU/ECT@ECT, Stuart Staley/LON/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT, Kevin
McGowan/Corp/Enron@ENRON, Tom Mcquade/HOU/ECT@ECT
cc: Peter Bradley/LON/ECT@ECT, Jez Peters/LON/ECT@ECT, Candace
Parker/LON/ECT@ECT, Kenny Nicoll/LON/ECT@ECT, Dimitri Taylor/LON/ECT@ECT
Subject: Freight weekly report

Enron Shipping Services Weekly report 41/2000

Highlight
The freight market keeps inching upwards, with a consensus that the freight
market will have some upward momentum until early next year, when it is
expected that the steel makers will significantly reduce their raw material
imports and reduce their freight requirements.  We are still trying to
conclude our two structured deals with Coeclerici, but have run into problems
as counterpart is not keen on agreeing our credit terms.  We are meeting with
Coeclerici during Coaltrans to try and sort out a compromise and will also
try to get our credit department to be more flexible with our terms as we
need to adapt our terms to the shipping industry or face the possibility that
no one will want to transact on our strict terms.

This week the liquids group launched their tanker route on EOL and asked Andy
( our EOL freight trader ) to manage it full time.  Within the first two
days, 400,000 tons had been traded.

We have tendered for a contract covering two years to ship iron ore from
Basil to Saudi Arabia starting in Jan next year for the account of Hadeed.
If we were to win the contract, it would fit very well with our short
position out of Richards Bay as it would allow us to fix a vessel on time
charter from Europe to Brasil, then go to Saudi arabia to discharge and then
continue onto Richards bay to load coal.  The net result of having the hadeed
contract would be to save 15 days ballast sailing which in terms of dollars
would equate to $250.000 saving per trip

Market
	Short term	Medium term	Long Term
Handy Max	Up	Flat	Flat
Panamax	Up	Down	Down
Cape Size	Up	Up	Flat

Deals Done
Physical Freight
ECS freight
Fixed a panamax for early November loading from Puerto bolivar to Immingham

Third parties freight deals
Fixed a cape for late november loading out of RBCT to Rotterdam at $11.17 for
Preag.

OTC
FFA s
Bought a Us gulf/Japan contract for November from Conagra and a 4 TC contract
from Andre for Q4 & Q1 01.  Our view is that the panamax market will rise in
the short term and we are therefore going long with the intention of selling
our lenght in a couple weeks and then build a significant panamax short
position for next year when we expect a massive correction.

EOL
Traded 75,000 tons with Bocimar

Travels
Pierre, andy and myself are in Madrid until Wednseday meeting with several
key customers


All:

One thing to note is that while the DWR contracts are blended with the core,
the non-core, if our curve come to be true, would enjoy the back end of the
curve's lower price path.

We calculated, based on the DWR's figures, the negative mark-to-maket at the
various points in time:

6/02      $4.2B
12/02    $5.8B
6/03      $7.0B

While our curves differ, this gives an order of magnitute.

Michael

 -----Original Message-----
From:  Steffes, James
Sent: Friday, May 11, 2001 6:45 AM
To: Dasovich, Jeff
Cc: Neustaedter, Robert; Brown, Kortney; Soo, Jeffrey A.; Tribolet, Michael;
Black, Don; Lewis, James C.
Subject: Concept for core/noncore Analysis for California

Looks good with me.

Jim

From: Jeff Dasovich on 05/10/2001 04:02 PM
Sent by: Jeff Dasovich
To: James D Steffes/NA/Enron@Enron, Robert
Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kortney
Brown/Enron@EnronXGate, Jeffrey A Soo/Enron@EnronXGate, Michael
Tribolet/ENRON@enronXgate
cc:

Subject: Concept for core/noncore Analysis

OK, I apologize, I've been trying to lock myself to the computer and crunch
some #'s, but can't seem to get control of my schedule.  Wanted to lay out
the core/noncore model that's been pitched (and that CMA showed keen interest
in this morning) to see if we're all on the same page; but perhaps this is
the analysis that you're already working on:

Split takes place either 1.1.03 or 6.1.03.
Core and noncore are responsible for the "DWR past purchases" (spread over 15
years).
Core will keep IOU gen, QFs and DWR contracts (which would eliminate the
short for the core)
Noncore, in return for giving up the lucrative IOU gen, effectively accepts
the short position (i.e., goes to market) AND does not get sacked with DWR's
going forward costs (with "forward costs" defined as all power costs
attributable to the "post-core/noncore" transition date.

Let me know if this tracks with where we're headed.  Thanks.

Best,
Jeff


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/08/2001
04:01 PM ---------------------------

Vince J Kaminski
03/08/2001 11:21 AM
To: Greg Whalley/HOU/ECT@ECT, Liz M Taylor/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Celeste Roberts/HOU/ECT@ECT
Subject: Stanford MBA Recruiting

Greg,

This is the agenda for the recruiting trip to Stanford next week.

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/08/2001
11:21 AM ---------------------------

Althea Gordon@ENRON
03/07/2001 04:30 PM
To: vince.kaminski@enron.com, brad.romine@enron.com, brad.alford@enron.com,
martin.lin@enron.com, theresa_riedman@enron.net, matt_harris@enron.net,
michael.smythe@enron.net, benjamin.bell@enron.com, mauricio.mora@enron.com,
celeste.roberts@enron.com
cc: shirley.crenshaw@enron.com, paula.austin@enron.com,
dolores.muzzy@enron.com, cathy.lira@enron.com, patricia.payton@enron.com
Subject: Stanford MBA Recruiting

Thank you for agreeing to participate in the Associate Program's recruiting
efforts at Stanford Graduate School of Business.

The itinerary for the trip is as follows:

Wednesday, March 14, 7:00 p.m. to 9:00 p.m. Dinner with students selected to
interview
       Il Fornaio, the Sala Del Canaletto Room
       520 Cowper Street, Palo Alto
       (650) 853-3888

Thursday, March 15, 8:30 a.m. to 4:45 p.m.  Round 1 interviews for both
Summer and Full Time Associates
       Stanford GSB Career Services Center
       Interviewers:
       Theresa Riedman
       Brad Romine
       Brad Alford
       Martin Lin
       Michael Smythe - to be confirmed
       Benjamin Bell - to be confirmed
       Mauricio Mora - Greeter/Alternate Interviewer

Thursday, March 15, 12:15 p.m. to 1:30 p.m. Lunch with Dean George Parker
(Associate Dean of Academics) and
       Sherrie Taguchi (Director of Career Services).
       Stanford GSB Career Services Center
       We will be ordering lunch in.

Friday, March 16, 8:00 a.m. to 12:00 p.m.*   Round 2 interviews for both
Summer and Full Time Associates
       Stanford GSB Career Services Center
       Interviewers:
       Vince Kaminski
       Matthew Harris

* Please note that this is an approximate time that will be based on the
number of candidates who successfully pass Round 1 interviews on Thursday.

Your hotel information is as follows:

       Stanford Park Hotel
       100 El Camino Real
       Menlo Park
       (650) 322-1234

Upon confirmation of your participation you will receive your hotel
confirmation number.  In the event that you have not received your hotel
confirmation number please contact my assistant, Cathy Lira, at x54049.

Attire for the trip will be business casual.  If you have any questions
please feel free to give me a call at x53860.  In case of emergency (and
during the trip itself) I can be reached at (713) 416-6250.

Thank you for your support of the program.


Cara,

Do you know about this and are we ready for this version?

Caroline

-----Original Message-----
From: frank.billington@oatiinc.com [mailto:frank.billington@oatiinc.com]
Sent: Friday, February 01, 2002 11:25 AM
To: Emmert, Caroline
Subject: !!! OATI Etag 1.7 Minimum Requirements !!!

Time is running very short.  Is your company prepared for Etag 1.7?  These are the minimum REQUIRED steps that must be completed prior to March 6, 2002:

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

(1)  All entities must update the NERC Registry at http://www.tsin.com.

(1a)  CA's and TP's must designate PORs and PODs that are valid on tags.

(1b)  PSE's must designate associated scheduling PORs and PODs.  See http://www.tsin.com or inquire with NERC for details.

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

(2)  All OATI Users must have functioning OATI Digital Certificates.

(2a)  Without the certificate you cannot access Etag 1.7 after March 6, 2002 at all.

(2b)  Inquire internally to determine if a supervisor has already contacted us.

(3b)  To begin the process of acquiring OATI Digital Certificates, please complete this document and send it to OATI:

http://www.oaticerts.com/repository/Company_Information.doc

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

Failure to complete these steps will result in a partial or complete lack of tagging access and capability!

For additional information on these and other critical Etagging issues, please visit OATI's Etag 1.7 Information Page at http://www.oatiinc.com/etag17.

Frank Billington

OATI Manager of Customer Services


----- Forwarded by Jeff Dasovich/NA/Enron on 02/16/2001 09:16 PM -----

	Jean Munoz <jmunoz@mcnallytemple.com>
	02/16/2001 04:56 PM

		 To: IEP <jmunoz@mcnallytemple.com>
		 cc:
		 Subject: Governor Davis Announces Recovery Plan for State's Utilities

Below is a copy of Governor's press release.  Jan will be responding during
the IEP media tele-conference today at 4pm PST.  Call in number
1-800-374-2393, pass code: Independent Energy Producers.

Thanks,
Jean

--
Jean Munoz
McNally Temple Associates, Inc.
916-447-8186
916-447-6326 (fx)

___________
PR01: 057
FOR IMMEDIATE RELEASE
02/16/2001 2:20 pm

GOVERNOR DAVIS ANNOUNCES
RECOVERY PLAN FOR STATE'S UTILITIES

SACRAMENTO

Governor Gray Davis today unveiled the framework of a recovery plan for the
California's investor-owned utilities that includes the purchase of their
power lines and targeted revenue from the existing rate structure to help
pay their back debt.

"Today we have begun serious negotiations with the utilities on a balanced
recovery plan," said Governor Davis. "This is a balanced business
transaction. It provides real benefits of real value to consumers and allows
the utilities to get back on their feet."

Elements of the plan include:

*    State purchase of the transmission grid owned by the state's three
investor-owned utilities;
*    Benefits to ratepayers and taxpayers including:

1.    A significant contribution by the parent companies to their utility
subsidiaries to satisfy their creditors and return to financial viability;
2.    The extension of cost-based rates from the utilities generating
facilities from five to 10 years and a ban on their sale;
3.    Conservation easements on utility-owned land in prime watershed areas;
and
4.    Dismissal of all pending litigation.

The Governor's plan directs the Public Utilities Commission to establish a
"dedicated rate component" from the existing rate structure (not a new
charge on consumer bills). This would allow the utilities to make payments
to their creditors, including banks, generators, and renewable energy
producers. Utilities would be allowed to sell revenue bonds secured by the
dedicated rate component.

Governor Davis said he is working closely with the legislative leadership on
legislative components necessary to carry out negotiations.

Governor Davis also noted that he sent a letter to President George W. Bush
thanking him for his order today to expedite the review and licensing of new
power generation facilities in California.

"I am extremely gratified that President Bush has acted to put the federal
government on the same path as I have in California to cut red tape and get
new power plants on line," said the Governor.

###


Can you help me with these?  I need to get them fixed up today.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/20/2001 10:00
AM ---------------------------
From: Gregg Penman on 04/18/2001 01:10 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: Confidentiaility Agreements regarding enovate

I am not sure if any additional items are necessary.  However, the following
jumped to mind, and I am guessing there may be others:
1-Required Disclosure - what if disclosure is required by a legal proceeding?
2-Remedies - what, if any, remedies do we have for disclosure

My other quick thoughts are:
1-I agree that solicitation does not belong
2-Enron should be changed to enovate and we also need to cover affiliates,
i.e. - the rest of Enron and Peoples.

That is all I can think of at the moment.  Let me know your thoughts.

Thanks - Gregg

	Kay Mann
	04/18/2001 06:47 AM

		 To: Gregg Penman/Corp/Enron@Enron
		 cc:
		 Subject: RE: Confidentiaility Agreements regarding enovate

Good timing.

You mentioned that there were a couple of things you thought should be added
to the "employee/consultant" form.  Could you email me the topics so that I
can take a look and make changes.  Once again I expect to be on an endless
conference call, but I can work while I talk.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/18/2001 06:45
AM ---------------------------

j.nassos@pecorp.com on 04/17/2001 07:12:57 PM
To: Kay.Mann@enron.com
cc: Gregg.Penman@enron.com, j.pokorny@pecorp.com, b.kowalski@pecorp.com,
f.jacobsen@pecorp.com

Subject: RE: Confidentiaility Agreements regarding enovate

Hi Kay -

You may recall that back in February, we almost finalized two
confidentiality agreements related to enovate L.L.C. activities.  Our
auditors will be sending to enovate shortly a letter indicating they would
like to review various books and records of enovate and ENA as its
activities relate to enovate.  In connection with the review, we need to
finalize those confidentiality agreements.

I have made the change you requested in the attached e-mail to both of the
agreements (PEC and enovate) and have attached below an execution copy of
the agreements for ENA to date and send to PEC and enovate for siganture.
Assuming the attached copies are acceptable, please have ENA sign two
originals of each agreement and send them to me.  I'll arrange for Bill
Morrow to sign the PEC agreement and work with Greg Penmen to have enovate
sign the other agreement.

If you have any questions, please call.  Thanks for your assistance.

John G. Nassos
Asst. General Counsel
Peoples Energy Corporation
130 East Randolph Drive
Chicago, IL 60601
Tel (312) 240-4413
Fax (312) 240-4486
j.nassos@pecorp.com

 <<Conf Ag enovate - ENA (evaluation of enovate) exec.doc>>  <<Conf Ag
Peoples Energy Corp. - ENA (evaluation of enovate) exec.doc>>

> ----------
> From:  Kay.Mann@enron.com[SMTP:Kay.Mann@enron.com]
> Sent:  Thursday, February 08, 2001 3:42 PM
> To:  j.nassos@pecorp.com
> Cc:  Gregg.Penman@enron.com
> Subject:  Re: Confidentiaility Agreements regarding enovate
>
>
> Hi John,
>
> The enovate version looks fine.  I suggest this change to the Peoples
> version:
>
> iv)  is  required to be disclosed to comply with any applicable law,
> order,
>      regulation  or ruling or to enforce enovate's or PMW's rights in
> court
>      or  in  an  arbitration  proceeding  in  connection  with  the
> Limited
>      Liability  Company  Agreement  of  envoate  dated  April  26, 2000,
> as
>      amended,  modified,  and  supplemented  from  time  to  time (the
> "LLC
>      Agreement").  If  PEC  is  requested  or  required  (by oral
> question,
>      interrogatories,  requests  for  information  or  documents,
> subpoena,
>      civil  investigative  demand  or  similar  process)  to  disclose
> any
>      Confidential Information, PEC will promptly notify ENA of such
> request
>      or requirement so that ENA may seek an appropriate protective order
> or
>      waiver  in  compliance  with provisions of this Agreement.  If PEC
> and
>      ENA  are  both  parties  to  the  proceeding,  PEC  will  agree  to
> an
>      appropriate protective order.
>
>
>
> Thanks,
>
>
>
> Kay
>
>
>
>
>

----------------------------------------------------------------
The information transmitted is intended only for the person
or entity to which it is addressed and may contain confidential
and/or privileged material.  Any review, retransmission,
dissemination or other use of, or taking of any action in reliance
upon, this information by persons or entities other than the
intended recipient is prohibited. If you received this in error,
please contact the sender and delete the material from any computer.

 - Conf Ag enovate - ENA (evaluation of enovate) exec.doc
 - Conf Ag Peoples Energy Corp. - ENA (evaluation of enovate) exec.doc


Elena,

Please, review the energy related info in this database (if any) and talk to
me
about it.

I would like to do some research in this area and ask you to write a summary
report.
Nothing urgent.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/12/2000
03:52 PM ---------------------------

Andrei Osonenko <andrei@swapsmonitor.com> on 10/11/2000 04:26:38 PM
To: (Recipient list suppressed)
cc:
Subject: Swaps Monitor Research.

We have today published information about the OTC derivative activities of
the largest Dutch dealers. This research is contained in the attached pdf
file.

Through our web site, SwapsMonitor.com, you can obtain additional information
about OTC derivatives dealers, including rankings and a database of
outstandings going back to 1994.

As an e-mail subscriber to our research, you will automatically receive all
free research at the same time it is placed on our web site. If you wish to
remove your name from the e-mailing list, please use the Reply feature of
your e-mail application and type the word "Remove" in the subject line.

Regards,

 - dutch_dealers.pdf
Andrei Osonenko
Research Department


FYI
___________________________________________________________

The below Houston Pipe Line meter has been set up in Global Facilities.

Meter: 098-8746
Facility Number: 513445
Name:  VIDOR CITY GATE CHECK
Type:  Check
System: 765 - Texoma Pipeline
Rate Zone: 40 (Vidor)
Trade Zone: 8 (East Texas)
Flow Direction: Delivery
Lateral:
Work Order #:

NOTE:  Meter 0988746 is the check meter to 098-0413.

Please call me at ext. 3-3446 if you have any questions.

Donna


Angela,

Thanks for your message. I shall be glad to attend the conference,
both days. I shall call Dr. Ronn to discuss my participation.

Vince Kaminski

"Angela Dorsey" <Angela.Dorsey@bus.utexas.edu> on 01/16/2001 12:54:15 PM
To: "Vincent Kaminski (E-mail)" <vkamins@enron.com>
cc:
Subject: Energy Finance Conference participation -Feb 22-23

Vince:

Further to Dr. Ronn's e-mail dated 1/9, please confirm your
participation
in the UT 2001 Energy Finance Conference to be held on the University of
Texas campus Feb. 22 - 23rd.

Sincerely,
Angela

**************
Angela Dorsey
Assistant Director
Center for Energy Finance Education & Research
The University of Texas at Austin
Department of Finance, CBA 6.222
Austin, TX 78712
angela.dorsey@bus.utexas.edu
**************


Thanks.  FYI--I'll be participating on the second panel.

Best,
Jeff


Message Description:  High Inventory System Wide OFO

Message Date:  12/7/2001

Message Text:  High Inventory System Wide Operational Flow Order (SWOFO)

      OFO Stage :                        2
      Inventory Level :                 High
      Noncompliance Charge :    $1.00/Dth
      Tolerance Band :                2%

PG&E's CGT has called a High Inventory System Wide OFO for flow day 12/8/2001.

High Inventory:  Customer supply is required to be within the tolerance band percentage of daily
usage to avoid OFO noncompliance charges.  Supply lower than usage is not subject to OFO
 noncompliance charge.

Charges for Noncompliance:

-   Noncore customers with AMR and PG&E's Electric Generation charges are based on actual
    daily metered usage.
-   Noncore customers without AMR charges are based on ADQ
    or actual daily metered usage, whichever results in a lesser charge.
-  Core Procurement Group charges are based on the latest core load forecast.

Please call the CGT Helpline 1-800-343-4743 if you have any questions.

Gas Schedulers
PG&E - California Gas Transmission


Attached, please find the latest RAC Watch Report for the period ending
Mar-30-2001.  Please call Rick Carson at x3-3905 if you have questions or
comments.


dont say anything in front of larry, i have to figure out what to tell him

 -----Original Message-----
From: 	"Casella, Stephen (NY Int)" <stephenc@manfinancial.com>@ENRON
Sent:	Monday, January 07, 2002 8:35 AM
To:	Maggi, Mike
Subject:	FW: Arnold

-----Original Message-----
From: Tammy Araneda (Connoisseur Travel) [mailto:Tammy@ctltd.com]
Sent: Friday, January 04, 2002 5:18 PM
To: Steve Casella
Subject: Arnold

                                       ARNOLD/JOHN

 MAN FINANCIAL INC
 ONE NORTH END AVENUE
 SUITE 1121
 NEW YORK NY   10282

          JAN 04 2002    INVOICE:ITIN         5114         DTC22

 11 JAN 02 - FRIDAY
  UNITED       1277 COACH CLASS   EQUIP-BOEING 757 JET
  LV: HOUSTON/INTCON     720A     NONSTOP      MILES-  861 CONFIRMED
  AR: DENVER             841A                         JOURNEY TIME 2:21
                                  SEAT-23C

                          FLIGHT OPERATED BY UNITED EXPRESS/AWA
  UNITED       5653 COACH CLASS   EQUIP-BA146 JET
  LV: DENVER             940A     NONSTOP      MILES-  126 CONFIRMED
  AR: ASPEN             1025A                         JOURNEY TIME  :45


Mike,

Please check with Alison. She sent  the  form again.
I think she lost  what you sent her.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/10/2000
04:27 PM ---------------------------

	From:  Mike A Roberts                           10/04/2000 03:13 PM

To: Mary Alison Bailey/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Elena Chilkina

Hi


Artie McCoy, VP Financial Surveillance with the NYMEX, 212/299-2928, is awaiting our decision as to whether it is our intention to withdraw from trading on the NYMEX.  Sara, as you may recall, I passed his name on to you about 10 days ago, before UBS surprised us when they walked in and said they were now rethinking wanting the seats again.  So I called Artie back at that time and said the situation was evolving, and once we knew what UBS wanted to do we would let him know.  That's where we left it.


Content-Transfer-Encoding: quoted-printable
Date: Fri, 27 Apr 2001 10:12:51 -0500
From: "Tracey Bradley" <tbradley@bracepatt.com>
To: "Aryeh Fishman" <afishman@bracepatt.com>, "Andrea Settanni"
<asettanni@bracepatt.com>, "Deanna King" <dking@bracepatt.com>, "Dan Watkiss"
<dwatkiss@bracepatt.com>, "Justin Long" <jlong@bracepatt.com>, "Kimberly
Curry" <kcurry@bracepatt.com>, "Paul Fox" <pfox@bracepatt.com>, "Ronald
Carroll" <rcarroll@bracepatt.com>
Subject: Washington Post - FERC Taken to Task Over Calif. Energy Crisis
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FYI

FERC Taken to Task Over Calif. Energy Crisis

By Peter Behr
Washington Post Staff Writer
Friday, April 27, 2001; Page E01

Even before President Bush took office, he and his staff were trying keep
California's energy crisis a long arm's length away, saying it was primarily
California's problem to solve.

But the Bush White House inherited an unavoidable link to California: the
Federal Energy Regulatory Commission, a relatively small Washington agency
with a large mandate to see that wholesale electricity rates remain "just and
reasonable."

California's calamity is defined in part by a battle between FERC and state
officials over what "just and reasonable" means.

On Wednesday, FERC made a new effort to hold down California's electricity
prices without forsaking its commitment to energy deregulation, earning
another round of sharp criticism from California officials. "FERC had a
chance to bring meaningful relief to California's outrageous wholesale prices
and they blew it," California Gov. Gray Davis (D) said yesterday.

The spotlight is bright and unsought for an agency with a modest $175 million
budget, born in 1920 as the Federal Power Commission -- a weak, understaffed
agency that promoted and supervised hydropower dams.

Fifteen year later, during President Franklin D. Roosevelt's New Deal battle
against powerful utility holding companies, the commission was armed with the
authority to regulate rates for wholesale electricity bought by utilities,
and for power transmission. States regulate retail rates.

Today FERC makes rules for the nation's transition away from regulated
utility electric service to a market-based hybrid. In California and many
major states, powerful generating companies compete to sell electricity to
utilities, which act as distributors.

The responsibilities have taxed FERC's staff of 1,200, which is about 10
percent less than peak levels during the mid-1990s.

A backlog of 2,000 pending cases includes not just conflicts over power
prices, but also critical issues of reorganizing the nation's power
transmission network into large regional pools strong enough to make urgently
needed investments in new lines.

When Congress set electricity deregulation in motion in 1992, FERC's goal
became seeing that it succeeded. Gradually, it redefined the "just and
reasonable" standard, saying that as long as electricity markets were
competitive, the prices negotiated by generators and distributors met the
standard.

In hewing to that doctrine, the agency turned down an increasingly angry
flood of demands from Davis and a host of California officials to clamp down
on the state's wholesale electricity prices when they suddenly shot upward
last summer.

Although FERC concluded in November that California's power market was badly
flawed and that the potential for unfair and unjust pricing existed, it did
not impose hard price restraints, opting for a "soft" partial price ceiling.

FERC ordered California to try to fix its broken power purchasing system by
buying the bulk of its electricity through long-term supply contracts with
generators, rather than through last-minute purchases that forced the state
to pay generators' and marketers' top prices. But FERC's plan was not
implemented.

"They have the ability to resolve it and they are not following through with
what we asked them to," FERC Chairman Curt Hebert Jr. said three months ago,
just after being named chairman by Bush.

But under growing political pressure to restrain California's extraordinary
wholesale electricity charges and respond to complaints of overcharging, FERC
has moved deeper into the morass.

Since March, it has ordered power suppliers to refund $124.5 million or prove
that their charges were justified. The generators say their prices have been
based on high costs of natural gas and air pollution permits.

"We're very confident that FERC . . . will see that these issues and
transactions were just and reasonable," said Randy Harrison, chief executive
for western operations of Mirant, a major California generator.

On Wednesday, the commission went further, directing California to establish
maximum rates that generators could charge during power shortage emergencies
through a formula linked to plant operating costs. All generators would be
entitled to get the highest approved price, but suppliers that exceeded the
price benchmark would have to justify their prices or face refund orders.

The decision, on a 2 to 1 vote, reflects a compromise between the agency's
desire to defend the troubled experiment with deregulation while protecting
consumers against overcharging, said energy consultant Peter Fox-Penner of
the Brattle Group.

"They're searching for middle ground here. It's not what we think of as price
caps," he said. "It's flexible. It's related to costs, and that's very
innovative."

But FERC's many critics in California rebuked the agency again yesterday,
saying its actions were too little and too late.

Because the new FERC rules would apply only during power emergencies, there
would be no price restraint at other times, some said.

And by pegging approved rates to the costs of plants burning costly natural
gas, FERC's order would confront California with continuing costs of $300 per
megawatt-hour for large quantities of electricity this summer, eight to 10
times what the state was paying before the crisis, critics said.

"What they did do is virtually irrelevant," said Harvey Rosenfield of the
Foundation for Taxpayer & Consumer Rights. "It's like offering someone who's
been hit by a car an aspirin."

"FERC has failed its responsibilities at every point in the crisis," said
Adam Goldberg, a policy analyst with Consumers Union.

Hebert responds that slapping hard price regulations on California's energy
market is the wrong course for at least three reasons: It does not encourage
generators to build more plants, it doesn't prompt consumers to conserve
energy and it will prompt power suppliers to sell electricity to neighboring
states where prices aren't controlled -- unless California blocks power
exports.

What lessons the public will draw from California's plight this summer and
the deregulation debate remains to be seen, but FERC -- and perhaps the Bush
administration too -- has been pulled more closely than ever into that drama.

Special correspondent Jeff Adler contributed to this article.

, 2001 The Washington Post Company


There is a 13 MW LLH schedule  That was changed at 3:30 and due to its
lateness, has to go real time.

Here is the path:

IPC@ SYS-IPC(T)SYS/LAGRANDE O#82121 hnf- IPC-SNPD(T)BPA(T)LAGRANDE/SCL SYS
O#96092 ntwk-IPC-EPMI-SCL

The tag was made for this schedule anyway, and has been faxed to all
parties.  Tag # 12719.


Call me when you get a chance.  There is some new capacity to execute for
November.  Expiring contracts are show in purple, the new contracts are shown
in yellow.  Ignore the demand charges for now, I did not verify them.  I
won't execute these until I hear from you.

The capacity listed below was purchased from the pipeline.  Scott said Jeff
gave us the OK on this one.


Here is the form of option agreement Kathleen sent me yesterday.  Greg Krause
has a meeting with a landowner tomorrow and he wants to be able to provide
our pro forma form for the landowner's consideration.
---------------------- Forwarded by Ann Elizabeth White/HOU/ECT on 05/18/2001
04:09 PM ---------------------------

	Enron North America Corp.

	From:  Kathleen Carnahan @ ENRON                           05/18/2001 03:27 PM

To: Ann Elizabeth White/HOU/ECT@ECT
cc:
Subject: Form of Option Agreement

Ann Elizabeth,

Lisa Bills has requested some additional changes to the "form" of Option
Agreement I sent you yesterday.  If you will e-mail the form of Option
Agreement for the new Florida Option to Kay Mann, she will make the necessary
changes.  Also Ben Jacoby has indicated that  wants to see all new Option
Agreements prior to them being sent out to anyone so he can be in the loop.

Sorry you missed our meeting.

Kathleen

---------------------- Forwarded by Kathleen Carnahan/NA/Enron on 05/18/2001
03:06 PM ---------------------------

	From:  Kathleen Carnahan                           05/17/2001 02:42 PM

To: Ann Elizabeth White/HOU/ECT@ECT
cc:

Subject: Form of Option Agreement

Ann Elizabeth,

This may not be the absolute latest Form of Option, but it should be pretty
darn close to being totally blessed (by Herman Manis).  I am also attaching a
form of Memorandum of Option just in case you need it.

Kathleen


i heard you were anyway


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Thanks for your nice note.  I hope that within my team that they see the
promotion as an indication that the work that we do is recognized as
meaningful.  All of that helps me in recruiting and retaining talented people
that make my job easier and more fun!

Patricia A Lee@EES
01/16/2001 08:11 AM
To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Congratulations

Sally,

I just saw the announcement and wanted to offer my comgratualtions.  I think
that's great.  I have always admired your leadership and clear thinking.  I'm
glad Enron recognizes your contributions.

Patty


Jim:  You available to talk at 9:30 Houston time re: how to stop the next
attempt at the ISO board to lower the price caps further?  If not, are you
available at about 3 PM houston time to discuss same?  Thanks.