Charles Schwab & Co., Inc.
Email Alert

Morning Market View(TM)
for Monday, October 29, 2001
as of 9:30AM EST
Information provided by Schwab Center for Investment Research

MARKETS LOOKING AT WEAK OPEN

Equity index futures were pointing to a downside open for
stocks, continuing the overseas trend, as earnings season winds
down. With no major economic news on the docket today, corporate
announcements painted the headlines.

Satellite-TV service provider EchoStar Communications
(DISH,26,f1) agreed to purchase General Motor Corp.'s (GM,45,f2)
Hughes Electronics (GMH,15.35,f2) unit for about $31.5 billion
in cash, stock and assumed debt after top rival News Corp.
(NWS,29) withdrew its bid for the company. The deal values
Hughes at $18.44 per share, a 20% premium to its closing price
on Friday. The transaction would give EchoStar nearly a 91%
share of the satellite-TV market, which could provoke regulatory
scrutiny.

Commercial and military aircraft maker Boeing Co. (BA,38,f2) cut
its sales forecasts for next year by $1 billion to $55 billion
after failing to secure the government's bid to build the new
Joint Strike Fighter. However, the company's CEO said that the
news won't have a "material impact" on the aerospace giant's
2001 outlook. The potentially largest defense contract ever,
valued at nearly $200 billion, was awarded to Boeing's top rival
Lockheed Martin (LMT,50,f2) on Friday.

Humana Inc. (HUM,11.20) reported 3Q earnings of $0.18 per share,
in line with the First Call consensus forecast, on a 1% decline
in revenues as the health insurer exited non-core markets.
Humana, like many of the health insurance giants that have
recently reported strong earnings growth, has benefited from
increased insurance premiums and cost-reduction efforts.

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

TREASURY AND ECONOMIC SUMMARY

Bonds rose across the curve as cautious sentiment prevailed
ahead of this week's economic data, including tomorrow's October
consumer confidence and 3Q advance Gross Domestic Product on
Wednesday. Analysts per Bloomberg are looking for a 95.5 reading
for consumer confidence, down from September's 97.6 level. The
mean forecast for 3Q GDP is for a decline of 1.0% versus 2Q's
0.3% increase. The more significant National Association of
Purchasing Management survey and employment situation reports
fall on Thursday and Friday, respectively.

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

WORLD MARKETS

European bourses were weaker this morning with softness in
banking, telecom and pharmaceutical shares. Shares of Morgan
Crucible Co. (MCRUF,2.75) were being punished after the UK
manufacturer of wireless components reported worse-than-expected
profits on slumping demand. The Bloomberg European 500 Index was
off 0.99% as of 8:52 a.m. EST. The euro was higher against the
dollar as traders remained cautious ahead of this week's
economic data in the U.S.

Asian stocks were lower with weakness concentrated in banking
and technology shares, despite hints from Chartered
Semiconductor's (CHRT,20,f1) CFO that the company may ship more
chips in 4Q than 3Q as orders begin to pick up. Banks were lower
after Japan's Financial Services Agency said that inspections of
the nation's banks as part of the government's new reform plan
had commenced. Japan's Nikkei-225 Index closed down 1.69% as
industrial production for September declined a
worse-than-expected 2.9% from the previous period's 0.8%
increase. The Bank of Japan's Policy Board lowered its core
estimate of economic growth for fiscal year 2001. Also, The yen
was higher against the dollar. Crude oil climbed as Saudi Arabia
and the United Arab Emirates indicated that OPEC was ready to
cut output in the face of slumping demand.

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

FUTURES WATCH

In the December Globex futures contract as of 8:52 a.m. EST, the
S&P 500 Index was down 3.5 points (7 points below fair value)
while the Nasdaq 100 index was down 1.5 points (10 points below
fair value). The December DJIA futures contract was down 39
points (71 points below fair value) and the December crude oil
futures traded on the NYMEX were up $0.33 at $22.36/barrel.

William Johnson, Market Analyst

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Distribution by Quris, Inc.


we're ok for now...thanks for checking

fletch


How does Fear have any money left...he has been bidding the house...I think
we need some bid accounting here.
PL


Hi, Jeremy and Francis:

Just to confirm that we are going to meet at Larry's desk at 3:00 PM tomorrow
afternoon.

Thanks a lot for your help!

George Huan


I f we get out of here early, I may run to Foley's.  I will leave you a voice
mail or an e-mail to let you know.So be sure to check.  I was just messing
withyou on the Evita.  I am going out to lunch with a customer today so I'm
not going to be extremely hungery.  Maybe we just go to PF Chang's and I can
have a lettuce wrap.


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-----Original Message-----
From:  Lundstrom, Bruce
Sent: Monday, June 18, 2001 1:06 PM
To: Derrick Jr., James; Walls Jr., Rob; Haedicke, Mark E.
Cc: Rogers, Rex
Subject: Dabhol -- A Brief Legal Update

Gentlemen -

A few updates:

The power station and LNG contractors terminated their respective
construction contracts over the weekend.

Rebecca McDonald and Ken Lay met with the India Minister of Finance on
Saturday in New York.  The Minister reiterated India's position that they
would not buy any power from Dabhol.

We had a conference call with management of GE and Bechtel last week.  There
is little evident disagreement amongst the sponsors on key issues.  Bechtel
even complimented Rebecca on her team and handling of the matter.  Walter
Stuart from V&E came over to listen in on the phone call on behalf of Enron.
Given the increasing cooperation of the sponsors and written statements of GE
and Bechtel approving Enron's handling of ongoing issues, we have kept V&E's
involvement fairly "low key" to date.

Bruce


(See attached file: hpl0907.xls)

 - hpl0907.xls


you have to like garcia against carolina over brunell against balt or bledsoe
against njy ...  don't you?

To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: QB

Na man, I'm thinking of starting Brunell this week, although I don't know how
he will fare against a tough Baltimore defense... Bledsoe is going against
the Jets in Tuna bowl XXX...

	Enron North America Corp.

	From:  Eric Bass                           09/07/2000 02:57 PM

To: O'Neal D Winfree/HOU/ECT@ECT
cc:
Subject: Re: QB

How about Garcia and Bettis for Brunell?

To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: QB

I like Bledsoe since I have T. Glenn now, but I could also keep Brunell if
McCardell is available... Quadry and/or Garner...

	Enron North America Corp.

	From:  Eric Bass                           09/07/2000 12:36 PM

To: O'Neal D Winfree/HOU/ECT@ECT
cc:
Subject: QB

Brunell or Bledsoe - which one are you willing to trade and for what?  I
could give a rb and a WR


Hi Sara--

As discussed, the latest draft.

Rgds,

Steve
---------------------- Forwarded by Steven Kessler on 10/05/2000 02:08 PM
---------------------------

10/05/2000 10:05 AM
Kelly Habenicht
Kelly Habenicht
Kelly Habenicht
10/05/2000 10:05 AM
10/05/2000 10:05 AM

To:   Steven Kessler@Bankers_Trust
cc:
Subject:

(See attached file: ENRON PARAGRAPH 13.DOC)(See attached file: ENRON SCHEDULE
(NEW VERSION).DOC)

 - ENRON PARAGRAPH 13.DOC
 - ENRON SCHEDULE (NEW VERSION).DOC


Margaret,

Thank you for all you help getting my Visa application prepared. Do you know
what documentation I need to have with me at the border? I was planning on
bringing the following:

Passport
Driver's License
Birth Certificate
University Transcripts

Is there anything else that I need to bring?

Chris Dorland


Hey Tobin,

Just wanted to check and see how you're doing these days.  I was offered a job with Cascade Natural Gas in Seattle this past week.  The salary is okay and the location is, of course, desirable but I'm just not completely sure about the job.  I have a while to make the decision.  They wanted an answer today, but I played hard-ball and told them I had to have more time (so silly, but it's very hard for me to do).  In the meantime, I'm exploring every contact I can come up with.  Anyways, you never got back to me and gave me any sort of idea about what your plans are post-school.  I'm very curious to know what you're thinking on that front.  Drop me a line when you get a chance.

Susan


Following please find the Daily EnronOnline Executive Summary.

Special Announcement! This report can now be accessed directly through the
EnronOnline Intranet Site at http://eolinfo.enron.com.

In order to access this report,  click on the link above. Once there, follow
the link entitled "Reports" and then select the "Secured Reports" tab. A
dropdown menu will appear with a list of the various secured reports
available for viewing. After choosing the report you are interested in, a
security window will appear requiring you to enter your Windows login ID and
password. Simply enter your standard login and the report will load
automatically.

We look forward to your feedback and comments. If you have any questions or
experience any difficulties accessing your reports through the Intranet Site,
please feel free to contact either Bryan Deluca at x36161 or Simone La Rose
at x31670.


We have received the executed Master Energy Purchase and Sale Agreement dated
11/21/00 from the referenced CP.  Copies will be distributed to Legal and
Credit.


Daily blessing

http://www.daily-blessings.com/bless128.htm

The Dream

http://www.daily-blessings.com/humor45.htm

your printer is running...and you WILL need ink!!!  check out the great
prices at MrInkman!!  I sure use more ink than I like to think about, and
these folks keep me stocked up.  They are reliable, honest,and best of all
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Secrets Revealed...Were hot dogs ever made of dogs? How do astronauts use the
bathroom in space? What's so French about French fries? For the answer to
these and other questions,  get the Secrets Revealed mailing from
MailBits.com.

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Do you check your email more often than your calendar?  Click below!
http://daily-blessings.com/reminder.htm

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----- Forwarded by Tana Jones/HOU/ECT on 05/10/2001 05:49 PM -----

	Tom Moran/ENRON@enronXgate
	05/10/2001 05:21 PM

		 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/ENRON@enronXgate,
Debbie R Brackett/ENRON@enronXgate, David Hardy/LON/ECT@ECT, Lesli
Campbell/ENRON@enronXgate, Cynthia Clark/ENRON@enronXgate, Enron Europe
Global CounterParty/LON/ECT@ECT, Stephanie Sever/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Claudia Clark/ENRON@enronXgate, William S
Bradford/ENRON@enronXgate, Lisa Lees/ENRON@enronXgate, Juana
Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT,
Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/ENRON@enronXgate, Tanya Rohauer/ENRON@enronXgate, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications, EOL Call Center@ECT, Bill D Hare/HOU/ECT@ect, Amy
Heffernan/Enron Communications@Enron Communications, Molly LaFuze/Enron
Communications@Enron Communications, Danny Clark/Enron Communications@Enron
Communications, Stephanie Panus/NA/Enron@Enron, Teresa
Mandola/ENRON@enronXgate, Bill Kyle/ENRON@enronXgate, Amber Ebow/HOU/ECT@ECT,
Wendi Lebrocq/ENRON@enronXgate
		 cc:
		 Subject: EOL Approvals: 05-10-01

Please see attached

Regards,
Tom Moran
3-3017


---------------------- Forwarded by Rosalee Fleming/Corp/Enron on 12/13/2000
05:59 PM ---------------------------

Kathy Mayfield
12/13/2000 05:02 PM

To: Rosalee Fleming/Corp/Enron@ENRON
cc:
Subject: Thank you for the Charitygift

---------------------- Forwarded by Kathy Mayfield/Corp/Enron on 12/13/2000
04:38 PM ---------------------------

bill_morgan@kindermorgan.com on 12/13/2000 04:34:58 PM
To: kathy.mayfield@enron.com
cc:

Subject: Thank you for the Charitygift

Thank you for the Charity Gift Card.  I decided to donate the gift to the
Depelchin Children's Center.


01/03/02            FINANCIAL STATUS FOR     01/03/02  10:43         PAGE   3
ACCOUNT:  40781075      ENRON CORP-ECT CASH SVC

30200345304 SAME DAY DR TRANSFER                  522,520.00
            GID:LCT20030592400
            FED20020103B1Q8021C001257
            USER REF:TWS000377236
            REF:      TWS000377236
            ORDER:    ENA CASH SERVICES
            CR BK ID: 021000021
            CR BK:    JPMORGAN CHASE BANK FORMERLY CHASE
             MANHATTAN BANK,N.A NEW YORK, NY 10004
            BENEF:    323009980 ENTERGY KOCH TRADING LP
            DETAILS:PREPAY FOR JANUARY POWER
            INSTRUCT DATE:01/03/02 ADVICE TYPE:MAIL


Hallo together,

attached is the first overview of the SQL interface.

At the moment I only use the data from the files in the "ParkData" directory.

If we change the plant version, we can use further data.

Please, check the field assignment.

Best regards,

Clemens W"ste

ENRON Wind


Notice No. 02-29
February 4, 2002

TO:		All COMEX Division Members/Member Firms
All COMEX Division Clearing Members
All COMEX Division Floor Traders
All COMEX Division Operations Managers

FROM:	Michael Campanelli, Vice President
		Floor Operations / COMEX Division

RE:		Options Expiration Operational Procedures for the Trading
Floor and Clearing
Members

The expiration date for the March 2002 options contract for Silver (SO H2)
and Gold (OG H2) is Friday, February 8, 2002.

	GENERAL OPERATIONAL PROCEDURES

All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized on-line
trade entry ("OLTE") system trained representative available until released
by the Exchange staff.  All adjustments  and/or corrections, must be
accompanied by relevant supporting documentation prior to being incorporated
into expiration processing, in essence making the expiration processing an
extension of the afternoon trade resolution procedures.

Exchange Clearing (299-2110) and Trade Processing (299-2465 and 299-2044)
personnel will be available to assist with the processing of notices of
Exercise and Abandonment, position transfers, trade corrections and other
questions or problems you may have.

Failure by any Clearing Member or qualified Floor Trader to comply with
procedures as outlined herein may result in severe disciplinary action by
the Exchange and potential financial liability to customers or members for
failure to exercise diligence in the processing of information.

	TRADING FLOOR OPERATIONAL PROCEDURES

Trading in the March 2002 Silver and Gold Options Contracts will cease at
1:25 P.M. and 1:30 P.M. respectively on February 8, 2002.  All Brokers and
Traders must inform their Clearing Members of their intentions to exercise
or abandon such Options by 3:30 P.M.

On Friday, February 8, 2002, all Brokers and Clearing Members must have a
duly authorized, On-Line Trade Entry ("OLTE") system trained representative
available until such time as the Exchange deems necessary.

NOTE:	After 4:00 P.M. all expiring option trade data must be inputted on
special "OLTE" terminals located in the Trade Processing Room.  Any other
means of submission will be rejected by the Exchange.  Members will be able
to submit all other trade data until 4:30 P.M.

After the Unmatched Trade Reports and the Preliminary Spot Month Matched
Trade Reports are displayed, Clearing Member representatives will be able to
pick up their Preliminary Clearing reports at the Clearing Department.

A final review of all submissions will be made.  The Supervisor of the Trade
Processing Room will detain only those Clearing Members and/or Broker
representatives involved.  All final corrections will be made at this time
and upon determination of the Supervisor that all option processing is
complete, all representatives will be released.

Exchange Reports based on Friday's submissions and processing will be
available on Monday morning February 11, 2002.

In the event that you have any questions regarding these trading floor
procedures please contact Michael Campanelli at (212) 299-2072 or David
Sherman at (212) 299-2061.

CLEARING DEPARTMENT OPERATIONAL PROCEDURES

1.	OPEN POSITION CONFIRMATION ("OPC") - The OPC should reflect as
accurately as possible all futures and options gross positions as of
close-of business on the business day prior to expiration.  Review the
estimated current gross positions as shown and make appropriate adjustments.
The OPC must be submitted not later than 9:00 A.M.

2.  	OPTIONS EXERCISE/ABANDONMENT REQUESTS FORM ("E/A") - An expiring
option with a strike price in-the-money by one tick or more will be subject
to automatic exercise unless an Option Abandonment Request form is submitted
advising that a Clearing Member ("CM") elects to abandon some or all of its
position in that strike price (i.e., for the option series).  All other
options series in the expiring month will be subject to automatic
abandonment unless an Option Exercise Request form is submitted.  When
submitting an E/A form, please note the following:

(a)	An E/A form must be submitted not later than 4:00 PM.
(b)	Do not submit an Exercise form for positions in strike prices which
are subject to automatic
		Exercise nor submit an Abandonment form for positions in
strike prices which are subject to automatic abandonment.
(c)	If a CM wishes to submit an E/A form to abandon a position in a
strike price subject to automatic exercise or wishes to exercise a position
in a strike price which is out of the money, it is necessary to notify
Clearing by telephone of such anticipated action.  The CM must have an
officer available to confirm such intention.
(d)	CMs may secure from Clearing a time-stamped receipt of the CM copy
to assure submission 	of the CM's E/A forms.

3.	OPTION POSITION REDUCTION REQUEST FORM ("OPRR") - As a general rule,
purchases and sales of option contracts are presumed to be new business.
If some or all of your purchases and sales are in fact undertaken for
position liquidation purposes, OPRR forms may be submitted on the day of
expiration and will be used in conjunction with trade data to reduce your
projected position in an expiring contract.  OPRR requests in excess of
actual traded volume will be rejected.  Exception: Cabinet trades and cancel
correction trades will automatically liquidate existing positions, therefore
do not submit an OPRR form for cabinet or cancel correction trades.
The OPRR form must be submitted not later than 4:00 PM.

4.	HOUSE/CUSTOMER POSITION TRANSFER REQUEST FORM ("H/C") - H/C forms
may be used only to transfer previously cleared contracts between a CM's
house and customer accounts.  Problem trades (those which have not cleared
prior to expiration day) must be corrected using COMEX's on-line trade entry
system under the direct supervision of the Trade Audits Department of COMEX
("Trade Audits").  The H/C form must be submitted not later than 2:30 PM.

5.	EX-PIT POSITION TRANSFER REQUEST FORM ("Ex-Pit") - Ex Pit forms may
be used only to transfer previously cleared contracts between CMs.  Problem
trades (those which have not cleared prior to expiration day) must be
corrected on the on-line trade entry system under the direct supervision of
Trade Audits.  The Ex-Pit form must be submitted not later than 2:30 PM.

	*****
A)	At approximately 3:15 PM, two PRELIMINARY reports of the expiration
process will be available for distribution at the NYMEX Clearing Department:
1.	OPTION EXPIRATION REPORT AND CONFIRMATION - The purpose of this
report is to project the CM's present position going into the expiration
based upon the transactions which have already been submitted to Clearing.
CMs should review and modify their adjusted gross positions as of
close-of-business on the business day prior to expiration.  Further
adjustments may be submitted not later than 4:00 PM.  The projected ending
gross positions will reflect transactions accepted or rejected for clearance
on expiration night, inclusive of Ex-Pit, H/C and OPRR transactions which
have been submitted to Clearing prior to 2:30 PM, and trade information
submitted to COMEX prior to 2:45 PM.  Normally, this report will also
reflect manually submitted Exercise and Abandonment instructions, the
projected number of exercises and maximum potential assignments for each
strike price, the type of exercise (manual or automatic), whether the strike
is In, At or Out of the money, and the exercise value associated therewith
based on settlement prices established by COMEX on the day of expiration.

2.	TRANSACTION LISTING - This listing will include in detail all
expiring option trades submitted to COMEX prior to 2:45 PM on expiration
day, and all H/C, ExPit, OPRR and E/A transactions submitted to Clearing
Prior to 2:30 PM.

Please note: Trade information reflected on the option expiration report and
transaction listing are trades submitted only. To inquire whether trades
have matched, each CM must review the trade reports provided by COMEX's
On-Line Trade Entry ("OLTE") system.

B)	At approximately 4:30 PM, FINAL reports of the expiration process,
including all submissions to Clearing and trade information submitted to
COMEX made by 4:30 PM, will be available for distribution at the NYMEX
Clearing Department.

C)	At 4:45 PM, Preliminary In The Money Abandonment and Out Of The
Money Exercise information will be announced on Fast Facts.

D)	At Approximately 6:30 PM, a Final Notice of Exercise/Assignments
will be available in each CM's lockbox located at the NYMEX Clearing
Department.  Each CM which has exercised or been assigned one or more
options will receive a separate statement showing exercises and/or
assignments for each option series.  Please check this statement carefully.
Although long options positions in-the-money by one tick or more will be
automatically exercised, not all short option positions will be assigned if
there are any options manually abandoned at such strike prices.  Please note
that there also may be some at or out-of-the money options being exercised.

E)	At approximately 7:30 PM, the final set of clearing sheets will be
available in each CM's lockbox located at the NYMEX Clearing Department.

It is strongly recommended that each CM have a representative(s) that is
properly trained to handle the option expiration process available beginning
at 3:15 PM and who will receive the CM's reports at the specific times.  It
is solely the responsibility of the CM to review these reports and to notify
the Clearing staff immediately of any discrepancies.

To obtain the exact time of the availability for each report, clearing
members should call (212) 301-4871, access code 701.  The announcement time
will occur 1/2 hour prior to availability.

Attached please find a Clearing Member Procedure Summary for ease of
reference.  Please contact Anthony DiBenedetto at (212) 299-2152 or John
Ramos at (212) 299-2142 if you have any questions.

 <<OPTIEXPI(ShortndSchdl)-Z01.xls>>

 - OPTIEXPI(ShortndSchdl)-Z01.xls


John:

Please call me about this matter. Since it is a physical deal, I'll be
helping Jane on this one.

Alan

	John Suttle
	11/27/2000 05:32 PM

		 To: Jane McBride/AP/Enron@ENRON
		 cc: Alan Aronowitz/HOU/ECT@ECT, Mark Evans/Legal/LON/ECT@ECT, Sara
Shackleton/HOU/ECT@ECT
		 Subject: Re: credit for Nippon Chemi-con

Sara -

Can you please help Jane in putting credit language into the confirmation of
a Japanese deal?  I have provided a worksheet with credit provisions that
would normally go into a master or an omnibus confirmation.  In this case, it
will be an omnibus.

Please let me know if I can do anything from here.

John

Jane McBride@ENRON
11/27/2000 05:11 PM
To: John Suttle/HOU/ECT@ECT
cc: Alan Aronowitz/HOU/ECT@ECT, Mark Evans/Legal/LON/ECT@ECT
Subject: Re: credit for Nippon Chemi-con

Hi John,

Thanks for this, just wondering though, how do you usually get from this sort
of table to the actual provisions to include in the contract.  Alan, Mark, is
there any easy way to do this?

Thanks.

Jane

	John Suttle@ECT
	2000/11/28 07:05

		 To: Morten E Pettersen/AP/Enron@Enron
		 cc: Jane McBride/AP/Enron@Enron, Joseph P Hirl/AP/ENRON@ENRON
		 Subject: credit for Nippon Chemi-con

Morten Erik -

I recommend the credit terms provided in the attached document to be included
in the Nippon Chemi-con contract.  These are industry standard terms for a
counterparty with credentials such as Nippon-Chemi-con, and these industry
standards are what will enable Enron to syndicate the credit risk if we
decide to do so in the future.

After my discussion with Jonathan last week, I think it is clear that Credit
is on the same page with your team in that we recognize the importance of
getting this first deal booked.  I think that in proposing the terms of your
transaction to the counterparty though, Enron can begin educating the market
as to the nature of the credit risk imbedded in the deal structure, and in
doing so, begin setting the same standards we have in our other portfolios.
The attached credit terms are not set in stone, but I think they are a good
place to start.  I will make myself available to you and the counterparty to
discuss the credit terms, and we will be very willing to negotiate the terms
in good faith.

My point is simply that we should not enter into any of these transactions
without fully discussing the credit implications with the counterparty.

Please feel free to call me or write if you have any questions or concerns.

John
x30906


One more that I meant to send.  Have a good weekend!

----- Forwarded by Elizabeth Linnell/NA/Enron on 06/22/2001 10:57 AM -----

	Elizabeth Linnell 06/20/2001 08:22 AM 	   To: Alan Comnes/Enron@EnronXGate  cc:   Subject: Non-core state monitoring

Enron has hired the firm of Stateside Associates to provide State Legislative Monitoring and Regulatory Forecasting services on those states that aren't currently being actively monitored by the department. Stateside Associates is based in Arlington, Virginia and is the largest state and local issue management firm.  It has 50 employees and over 13 years of experience providing high quality information resources.  The professionals who monitor state legislation are all former state legislative staff members and Regulatory Forecasting is provided by attorneys familiar with our issues.

We will receive an updated Legislative and Regulatory report every two weeks.  Everyone on the attached notification list will receive an email alerting us that the report has been updated.  If you're not on the list and would like to be added please let me know.  The list is currently set up geographically, but we can add an issue-based distribution if needed.

At any time, we can access our report by clicking www.stateside.com/istatelink or by following the site link from the Gov't Affairs intranet site.  The Enron logon is phoenix06 (not case sensitive).  This logon must not to be shared outside Enron.

We will also receive email alerts about our issues.  These will be sent to the designated recipients based on the issue or geography.

Because interaction with us is very important to Stateside, any Enron employee may contact Stateside Associates for additional information (Special Request) pertinent to the monitoring service.  For example, you may want to learn more about who is lobbying for a bill, what the deadlines are for a regulatory activity or to receive a list of who testified at a hearing.  This follow-up research is part of the Stateside Associates' service.  It will not result in any additional fees.

However, if a Special Request is made that is outside the scope of the Enron program,  it will be addressed with me prior to the commencement of any work.  Again, if Stateside responds to your request, there will be no additional fee - so please use this feature.

Our principal Stateside Associates' contact is Todd Cohn, Manager, Legislative Information Services.  He can be reached at tjc@stateside.com or 703-525-7466.   The Enron iStateLink website also features a roster of other Stateside professionals, including their email addresses.

You can learn more about Stateside on their website at www.stateside.com.

I hope you find this service useful and look forward to your feedback.

Distribution list:

Covered states:

Arizona
Colorado
Connecticut
Idaho
Kansas
Kentucky
Maine
Massachusetts
Nebraska
New Hampshire
New Mexico
North Carolina
North Dakota
Rhode Island
South Carolina
South Dakota
Utah
Vermont
Wyoming

Covered issues:

Divestiture
Electric Utility Regulation
Electricity Deregulation
Electricity Market Restructuring
Licensing
Market Entry and Exit Requirements
Stranded Costs

Aggregation
Consumer Education and Protection relative to Electricity Deregulation
Fuel Adjustment Clauses (All forms)
Generation Siting
Low Income Energy Assistance Programs
Net Metering
Pilot Programs
Provider of Last Resort

Emissions
Renewable Portfolio Standards
System Benefit Charges


What is the status on this meter?

Howard B Camp
01/28/2000 07:17 AM
To: Susan D Trevino/HOU/ECT@ECT
cc:
Subject: UA4

Susan,
Here is the note that I sent Daren .  I never have scheduled a Park and Ride
and have no idea on how this should be set up.
HC
---------------------- Forwarded by Howard B Camp/HOU/ECT on 01/28/2000 07:16
AM ---------------------------

Howard B Camp
01/27/2000 10:17 AM
To: Daren J Farmer/HOU/ECT@ECT
cc: Charlotte Hawkins/HOU/ECT@ECT, Anita Luong/HOU/ECT@ECT, Howard B
Camp/HOU/ECT@ECT, Rhonda Robinson/HOU/ECT@ECT
Subject: UA4

Daren,
Just a quick note to follow up on UA4 issues.

For desk to desk deals, we are keeping the entry on co 89 since there is not
a Co 16 contract with Co 16 and attaching an ECT transport contract to the
backscreen.

On Park and ride deals, I am under the impression that the Park and ride deal
would be booked to an 089 contract and cleared either intra month or in a
subsequent month.
If this is true, was it done by reversing out or offsetting the previous Co
89 entry.  I am not sure whether an ECT transport should be attached.  I hope
you have some insight on this issue.

Let me know
HC


Sherri,  Homecoming is the Weekend of October 27-29.  I hope Jeff can make
it!

Chuck
________________________________________
   Chuck Paul
   A Closer Look
   Professional Mystery Shopping Company
   770-446-0590
   Email:  Chuck.Paul@A-Closer-Look.com
   http://www.a-closer-look.com

----- Original Message -----
From: <Jeff.Skilling@enron.com>
To: Chuck Paul <chuck.paul@a-closer-look.com>
Sent: Wednesday, May 03, 2000 10:32 AM
Subject: Re: MS 150/ Homecoming 2000

>
> Mr. Paul,
>
> Jeff asked me to see if I could find out when the Homecoming is taking
> place.  He'd like to be there if the dates work with his schedule.
>
> Thank you,
> Sherri Sera
> Assistant toJeff Skilling
> 713.853.5984
> 713.646.8381 (fax)
>
>
>
>
> "Chuck Paul" <chuck.paul@a-closer-look.com> on 05/02/2000 01:35:32 PM
>
> Please respond to "Chuck Paul" <chuck.paul@a-closer-look.com>
>
> To:   "Jeff Skilling" <jskilli@enron.com>
> cc:
>
> Subject:  MS 150/ Homecoming 2000
>
>
> Jeff,  how was the bike trek to Austin?  Hope you raised LOTS of $$$.
> Great
> job you are doing!  My MS get together is next weekend (May 13th).
>
> Homecoming 2000-be there!  Elvis is having a party for all Beta's (big
25th
> reunion) on Friday night at his house.  The new stadium is supposed to be
> awesome.  Hope you can make it.
>
> Keep in touch,
>
> -kai-
>
> Chuck
> ________________________________________
>    Chuck Paul
>    A Closer Look
>    Professional Mystery Shopping Company
>    770-446-0590
>    Email:  Chuck.Paul@A-Closer-Look.com
>    http://www.a-closer-look.com
>
>
>
>
>
>
>
>


Shepherd, near San Felipe.  Very close to Peggy's house. Peggy should be
there, also.


Mark,

I shall be glad to serve on the advisory board of MEC.

Vince


Please confirm that Beck's comments nos 1 and 6 are acceptable for the loi.
I would include in this email, but I don't have an electronic version with
me.  Reagan, if you have an electronic version, could you forward it to me?

Thanks,

Kay


Sorry to take so long--Denise Lagesse of our group has graciously volunteered
to represent us on this effort.  Please call me directly if you need my input
or if I can do anything else to help.  Thanks Denise.  df

Mark Greenberg
03/27/2001 10:00 AM
To: Robert Eickenroht/Enron@EnronXGate, Drew Fossum/ET&S/Enron@ENRON, John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David Koogler/Enron
Communications@Enron Communications, Kelly Higgason/HOU/EES@EES, Jordan
Mintz/Enron@EnronXGate
cc: Rob Walls/ENRON@enronXgate

Subject: iBuyit Program

To All -

Just a follow-up message to each of you about the iBuyit program.

I am still in need of a designated volunteer from each of your groups to act
as a Change Agent for this program.  Since it is a Corp. initiative and will
be implemented over time, I need to make sure all areas of the Legal Dept.
are on board.

Please provide me with the name of at least one person within your group who
fits the Change Agent bill.  For those that have forgotten, the Change Agent
is defined as follows:

"individuals who are highly respected within their area and known as the 'GO
TO' people among their peers."

Their responsibilities are:

- to disseminate communications regarding the project
- to develop awareness and ownership of the product among their department
- to encourage use of the product
- identify those who will need training
- encourage peer training attendance
- engage in rumor control (basically relay the facts of the program and not
the myths (e.g., the product will replace jobs))

Information needs to be distributed to these individuals as soon as possible
so that they can be prepared for demonstrations of the iBuyit product next
week.

Thanks for your assistance.

If any of you have any questions, please let me know.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com


4/25/02  works contract for El Paso (Tennessee) pipeline.


Hello,

This email message is a notification to let you know that
a file has been uploaded to the Files area of the OSPBC
group.

  File        : /Nov22_meeting_notes.zip
  Uploaded by : david.butters@home.com
  Description : Revised notes from November 22 Drafting Committee meeting

You can access this file at the URL

http://www.egroups.com/files/OSPBC/Nov22_meeting_notes%2Ezip

To learn more about eGroups file sharing, please visit

http://www.egroups.com/help/files.html

Regards,

david.butters@home.com

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----- Forwarded by Mark Taylor/HOU/ECT on 11/03/2000 09:42 AM -----

	Jefflowney@aol.com
	10/24/2000 10:32 AM

		 To: mark.taylor@enron.com
		 cc:
		 Subject: RE: Clean copy

 - ENRON 062000 GTC CLEAN.doc


I have it a little different.

12/1/00 (2,912)
12/2/00 (4,669)
12/3/00 (4,669)
12/4/00 (12,907)
12/5/00 2,169

() is  a sale from NPC to ENA
 we are off by 10,000 2 to 5.
1st is ???

Chris Germany@ECT
12/07/2000 09:34 AM
To: Jeffrey Porter/HOU/EES@EES
cc:
Subject: Gas Daily stuff

This is what I'm showing as gas daily activity for the 1st thru the 5th.

Date  Undertake Overtake
1  4087
2    5999
3    5999
4  2548
5    12202

I buy the Undertakes and sell you the Overtakes.

Do these numbers look  close?


A post id for the reports you requested is : 1032675.

Thanks,

Errol McLaughlin, X5-8274

From: Francis S Lim/ENRON@enronXgate on 02/01/2001 11:46 AM
To: John Griffith/Corp/Enron@Enron
cc:

Subject: report changes

can you supply us with a post_id for
The report  RSR0500 and RSR0503_CONS
so we may see how long it will take to do the changes
you requested.
Francis


As the November elections approach, I encourage everyone to exercise your right to be heard and to make a difference through your vote.  To do so, you'll need to have a valid voter's registration.  If you do need to register, please visit your county's website or call your county election officials to learn the procedures and timing.

For Houston-based employees:
The deadline for voter registration in Texas is October 9.  Voter registration forms are available at the InfoZone in the lobby, but if you choose to mail your form please allow enough time for the postal service to deliver your form.  See the following list if you need to obtain election information pertaining to Harris and surrounding counties.  As the election date nears, Harris county voters' guides will be available at the InfoZone in the lobby.

Harris		713-368-2309
Montgomery	936-539-7843
Waller		979-826-7643
Brazoria	979-864-1320
Fort Bend	281-341-8670
Liberty		936-336-4629
Chambers	409-267-8301
Galveston	409-766-2280


It was part of ECT, but it was sold.   Mark


ASC-Group a privately held Ambulatory Surgery Center/Surgical Hospital
Company has two marketing/development positions available in their corporate
offices in Kansas City, Kansas.  Email resume to
kevinstandefer@asc-group.net.


fyi
 -----Original Message-----
From:  Kitchen, Louise
Sent: Tuesday, May 08, 2001 2:19 PM
To: Deffner, Joseph; Duran, W David
Cc: Lavorato, John
Subject: AIG Highstar

Friday is the day when we are supposed to close the Alamac sale to AIG
Highstar.  Should we fail to close this transaction, we should look to our
potential alternatives for withdrawing from the fund, unless of course we
view that we will close but it will happen over the few days following.
Interestingly, AIG may be planning to use further funds raised to create a
second fund rather than add to the current fund leaving us with more of a
percentage ownership but less capability of accessing the deals (fuel supply,
despatch and EPC rights would not be attached to any second fund).

We also have far too many people talking to AIG now and we need to stop this
immediately, going forward only Joe Deffner should communicate with Bob as at
the moment we have too many people doing all of the work for AIG for no
return.  As of Friday or the close of Alamac - Bob can only talk through
Joe.  We are not in the business of doing work for this fund.

Can you put together (only if we fail to close) a short review for John of
why we should stay in the fund over removing ourselves.  I recognize that
contractually we have no capability of exiting at this point but I know you
think differently and I hope you are right.  My view is that we need to get
out as we have no control over their investments.  I have spoken to Brian
Stanley on this fund and Brian is (unless someone in his group has a reason
not to)  happy to follow whatever approach we take particularly as EE&CC is
no longer a EPC company.


I have a doctors appt first thing Monday.  I should be in the office between
10-10:30.
Carol


I actually just talked to Mary Lou this morning, because my dad e-mailed me
this morning to get 6 tickets for the Final Four for both Saturday and Sunday
(April 1st and 3rd).  Thanks for the e-mail.
Ben


Ken,

I had to respond.

Speaking of bitch....all of the Cornhusker fans are bitching about Stoops
not  taking the head coach position at the Cleveland Browns or any other job
that will get him out of their backyard.  By the way, Stoops just started
working on his book "OU's 7th Football National Championship"; Chapter 3, Who
are the Huskers?

mike

Ken Rice@ENRON COMMUNICATIONS
01/22/2001 10:13 AM
To: Mike McConnell/HOU/ECT@ECT@ENRON
cc:
Subject: Re:

Luckily, Tom Osborn did not coach at my alma mater.  Our coach was Tom
Osborne who, by the end of his career, made OU his bitch.

	Mike McConnell@ECT
	01/22/01 07:16 AM

		 To: Ken Rice/Enron Communications@ENRON COMMUNICATIONS@ENRON
		 cc:
		 Subject: Re:

Actually, I believe that may be correct.  I verified it in the new book by
Tom Osborn,  How OU dominated my coaching career - my only losing record in
Coaching.  It was a best seller.
m

Ken Rice@ENRON COMMUNICATIONS
01/19/2001 05:26 PM
To: Mike McConnell/HOU/ECT@ECT@ENRON
cc:
Subject: Re:

Excuse me, but I can't remember who it was who handed Oklahoma their worst
loss in history. Could it be the ............HUSKERS?

	Mike McConnell@ECT
	01/19/01 03:09 PM

		 To: Ken Rice/Enron Communications@ENRON COMMUNICATIONS@ENRON
		 cc:
		 Subject: Re:

Huskers drool over Sooners.

Ken Rice@ENRON COMMUNICATIONS
01/19/2001 09:14 AM
To: Mike McConnell/HOU/ECT@ECT@ENRON
cc:
Subject: Re:

Huskers rule, Sooners drool.

	Mike McConnell@ECT
	01/19/01 07:55 AM

		 To: Ken Rice/Enron Communications@ENRON COMMUNICATIONS@ENRON
		 cc:
		 Subject: Re:

Thanks for the note.   Sooners rule.  We'll find time when things settle down.
m

Ken Rice@ENRON COMMUNICATIONS
01/19/2001 07:24 AM
To: Mike McConnell/HOU/ECT@ECT
cc:
Subject:

Mike

I see that we are scheduled to have lunch today.   I may have to postpone
again, I'll let you know later this morning.  I am out all weekend and we
have to have the final comments on the Analyst Presentation in by sunday
night so I may be working over lunch.  Actually, I think we are in pretty
good shape so I will probably be doing lunch but just don't be too mad if I
have to cancel.

Ken

PS  Your brother told me he went to 3 bowl games (when I found out that two
of them were the galleryfurniture.com bowl and that one in Shreveport (I
can't remember the name of it)) I realized he is a very, very sick college
football fan.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/26/2001
08:19 AM ---------------------------

Shirley Crenshaw
01/26/2001 07:59 AM
To: bobb.supertravel@wspan.com, audrau@yahoo.com, Memaw1995@aol.com,
Kathy.Crenshaw@inteq.com @ Enron, Kayla Crenshaw/Enron Communications@Enron
Communications, Anita DuPont/NA/Enron@ENRON, jimmywgordon@hotmail.com,
IMYoars@aol.com, Vince J Kaminski/HOU/ECT@ECT, kip.wia@alpha1.net,
emlea@usa.net, youens@cyrunner.net, William Smith/Corp/Enron@ENRON, Kelly
Summers/HOU/ECT@ECT, Marie Thibaut/Enron Communications@Enron Communications,
Laura Valencia/Corp/Enron@Enron, hmel5345@aol.com
cc:
Subject: What shall we tell our children.

This is good!

 Vice  Presidential  candidate  Sen. Joseph Lieberman recently
 asked  the question, "What will we tell our children if every
 vote is not counted?"

 Here is the response of one citizen:

 "As  a  former  teacher,  I  have  been  concerned  about Joe
 Lieberman's  question,  "What  will  we  tell  our children?"
 What  we  should, and must, tell our children is that if they
 fail  to  mark the right answer on an exam, or do not fill in
 the  entire test, they will not get credit for their answers.
 If they do it often enough and if they do not ask for help or
 read the directions properly, they will fail.

 We  should  tell  them  that  when they are older and move to
 Florida,  they  must  fully read their ballot and remove the
 entire chad and not keep an entire nation waiting because of
 their mistakes.

 We  must also tell them to read and read well, to play by the
 rules and expect a favorable outcome.

 Teaching them to make excuses for their mistakes has led to a
 society of victims unable to take responsibility.

Amen and Amen!


List looks good to me!


Do you do expense reports and have not taken the training?

Expense Management System (XMS) - Cost: $135
         June 4th		8:30am-11:30am	EB564
June 19th	1:00pm-4:00pm		  EB564

The Expense Management System (XMS) is a tool used to electronically submit your expense report for approval and payment through the Enron Intranet. It is user friendly, accurate and less labor intensive for you and the accounting staff.  This system will help you report your travel and entertainment expenses.

You will learn how to:
E	Create New Expense Reports
E	Enter Cash Expense Receipts
E	Adding Company Card Entries
E	Enter Personal Car Mileage
E	Foreign Currency Translation
E	Reimbursement Method
E	Designating your Approving Manager
E	Designating your Administrative Assistant
E	Submitting Your Expense Report
E	Reviewing your Expense Report
E	And Much More...

Please login and enroll through the InvestInMe website, http://www.corptraining.com/index.cfm?company=enron.  If you have any questions, please call 713 853-1816.


Further to our conversation, please see attached.

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


do you guys want to play golf sat morning?  let me know and i will get a tee
time before the game.


FYI:

I'm scheduled to meet with CMA and the Chamber on Monday to discuss the
comprehensive solution and urge them to support it.

Best,
Jeff


I forgot to say one thing. Spread option values for year 2001 were changed
reflecting starting date of 6/1/01. Also change ICAP value, which is
$1.00/kw-mo for 6 months in 2001.

---------------------- Forwarded by Jinsung Myung/Corp/Enron on 03/20/2000
04:40 PM ---------------------------

Jinsung Myung
03/20/2000 04:40 PM
To: Benjamin Rogers/HOU/ECT@ECT
cc:

Subject: retail

Ben,

Look at the model, focusing on assmuption and option pages. Give a call if
you have any comment.


Agreed.   Mark

	John Novak@ENRON
	04/26/2001 09:12 AM

		 To: Mark E Haedicke/HOU/ECT@ECT
		 cc: Mary Ann Oliveira/SA/Enron@Enron, Rob Walls/ENRON@enronXgate
		 Subject: RE: Invoices sent to Enron South America

Mark -- If it's O.K. with you, I think it would be better for us here for any
South America invoices to be sent to us in S?o Paulo, since that is where
they'll be processed for payment.  Please let me know.  Thanks.

Rgds,
 John

From: Rob Walls/ENRON@enronXgate on 04/26/2001 02:43 AM CDT
To: Mary Ann Oliveira/SA/Enron@Enron, Martin Klepper
<MKLEPPER@skadden.com>@SMTP@enronXgate
cc: rwalls@enron.com@SMTP@enronXgate, April Crosby
<ACROSBY@skadden.com>@SMTP@enronXgate, John Novak/SA/Enron@Enron

Subject: RE: Invoices sent to Enron South America

Marty -

I don't need the originals or copies of these invoices and defer to Haedicke
and Novak on how they want them processed.  Thanks.

Rob

 -----Original Message-----
From:  Oliveira, Mary Ann
Sent: Wednesday, April 25, 2001 6:49 PM
To: Martin Klepper
Cc: rwalls@enron.com; April Crosby; Novak, John
Subject: Re: Invoices sent to Enron South America

That's fine Marty, thank you.

"Martin Klepper" <MKLEPPER@skadden.com> on 04/25/2001 08:29:28 PM
To: Mary.Ann.Oliveira@enron.com
cc: rwalls@enron.com, "April Crosby" <ACROSBY@skadden.com>

Subject: Re: Invoices sent to Enron South America

We can definitely send you copies of these invoices in the future to help
facilitate your review and processing of bills. We send the originals to Rob
Walls in Houston. We will begin with the March invoices which will be going
out shortly.
    By copy of this memo to Rob Walls, we are advising him that we will be
sending you copies of these invoices. Please let me know if this is
satisfactory for your purposes. Marty

>>> <Mary.Ann.Oliveira@enron.com> 04/25/01 05:43PM >>>
Dear April,

Would you mind sending the original of the statements of fees of the
subjects below to the S?o Paulo Office? Usually, before the invoices are
cleared they receive comments, codes, they are submitted to provisions for
cash and may route to different people for review.

Please let me know if this is not any inconvenient for you. Current
subjects invoiced by Skadden are:

                    Dona Francisca (John Novak)
                    RioGen Merchant - Eletrobolt (John Novak)

Thank you.

Mary Oliveira
Enron America do Sul Ltda.
Av. das Na??es Unidas, 11541 - 6o. andar
Brooklin - S?o Paulo - SP
04578-000
Tel: 55-11-5503-1296, Fax: 55-11-5507-3626
E-mail: Mary.Ann.Oliveira@enron.com

------------------------------------------------------
This e-mail, and any attachments thereto, is intended only for use by the
addressee(s) named herein and may contain legally privileged and/or
confidential information.  If you are not the intended recipient of this
e-mail, you are hereby notified that any dissemination, distribution or
copying of this e-mail, and any attachments thereto, is strictly prohibited.
If you have received this e-mail in error, please immediately notify me at
(212) 735-3000 and permanently delete the original and any copy of any e-mail
and any printout thereof.

Further information about the firm, a list of the Partners and their
professional qualifications will be provided upon request.


We are pleased to announce the arrival of Kara Ausenhus as the Assistant for the Government & Regulatory Affairs Group.

Kara comes to us from EBS-Portland, where she worked with the Optical Engineering group. Prior to working at Enron, she worked with the Delaware State Chamber of Commerce as a Manager of Special Events on their Special Events/Communication Team.

Please join us in welcoming Kara to ENA!


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==============================================================

You are receiving this message today because you subscribed to our Email
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our great products and prices, you can unsubscribe by visiting our Web
site at http://www2.alaskaair.com/listserv/webmail.asp.

Please do not respond to this message. Mail sent to this address cannot be
answered.


I am out of town on business.  Are you interested in dinner tomorrow night at cafe express?  On Sat Chad has a 3 pm soccer game and at 5.30 birthday party.  We can work around these plans if you prefer.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


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  [ ] 27-7401: Request more information on this listing
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BUILDING AND MAINTAINING CUSTOMER RELATIONS & BRANDING STRATEGIES
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  [ ] 27-7191: Request more information on this listing
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FACILITY ENERGY COST MANAGEMENT
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  [ ] 27-7255: Request more information on this listing
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2ND ANNUAL CARIBBEAN ENERGY
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FUEL CELL DYNAMICS 2002: REALITY, NOT HYPE
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  [ ] 27-6930: Request more information on this listing
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  [ ] 27-7462: Request more information on this listing
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4TH ANNUAL ELECTRIC ASSET VALUATION
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  [ ] 27-7257: Request more information on this listing
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GLOBE 2002 INTERNATIONAL CONFERENCE & TRADE FAIR ON BUSINESS AND THE ENVIRONMENT
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SCADA FOR PETROLEUM, OIL & GAS, AND WATER SECTORS
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  [ ] 27-7529: Request more information on this listing

EFFECTIVE CHEMICAL PROCUREMENT STRATEGIES 2002 CONFERENCE
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  [ ] 27-7530: Request more information on this listing

MATERIALS MANAGEMENT/SUPPLIER CONFERENCE
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NEW NUCLEAR POWER PLANT TECHNOLOGY
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THE RATEMAKING PROCESS
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5TH ANNUAL E SOURCE DISTRIBUTED ENERGY SUMMIT
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  [ ] 27-7545: Request more information on this listing

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RENEWABLE ENERGY FOR RURAL DEVELOPMENT
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FERC 101 & 102 SAN FRANCISCO
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ENERGY INFRASTRUCTURE IN THE NORTHEAST
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PORTFOLIO OPTIMIZATION FOR ELECTRIC UTILITIES CONFERENCE
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WORLD ENERGY SECURITY AND COMMERCE FORUM
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UTILITY BILLING
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TAILINGS AND MINE WASTE '02
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6TH ANNUAL PROFIT FROM MERCHANT PLANTS
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  [ ] 27-7254: Request more information on this listing

INVESTMENT OPPORTUNITIES IN SPAIN'S ENERGY INDUSTRY
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  [ ] 27-7339: Request more information on this listing

VALIDATING UTILITIES
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  [ ] 27-7347: Request more information on this listing

TRANSMISSION EXECUTIVE FORUM
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  [ ] 27-7384: Request more information on this listing

NATURAL GAS BASIC TRAINING
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ENERGY VENTURE FAIR II
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  [ ] 27-7401: Request more information on this listing
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IT'S ONLY TIME AND MONEY
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  [ ] 27-7417: Request more information on this listing

BASICS OF INDUSTRIAL ELECTRICITY
  1/29/02 to 1/31/02 - Raleigh, NC USA
  [ ] 27-7441: Request more information on this listing

BUILDING AND MAINTAINING CUSTOMER RELATIONS & BRANDING STRATEGIES
  1/29/02 to 1/30/02 - San Diego, CA USA
  [ ] 27-7191: Request more information on this listing
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SUCCESSFUL BUSINESS STRATEGIES FOR STADTWERKE
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  [ ] 27-7332: Request more information on this listing

BASIC TELEPHONY AND DIGITAL SWITCHING
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  [ ] 27-7353: Request more information on this listing

TRANSMISSION SUMMIT 2002: THE IMPACT OF NEW FERC POLICIES ON THE FUTURE OF THE GRID
  1/30/02 to 1/31/02 - Washington, DC USA
  [ ] 27-7385: Request more information on this listing

ELECTRICITY BASIC TRAINING
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THE 2002 NATIONAL ELECTRICAL CODE
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  [ ] 27-7181: Request more information on this listing

ELECTRICITY - 101 SEMINAR
  1/30/02 to 1/31/02 - W Palm Beach, FL USA
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ENERGY RISK MANAGEMENT BASIC TRAINING
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FACILITY ENERGY COST MANAGEMENT
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2ND ANNUAL CARIBBEAN ENERGY
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  [ ] 27-7256: Request more information on this listing
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ADVANCED POWER TRADING
  2/1/02 to 2/1/02 - Houston, TX USA
  [ ] 27-7389: Request more information on this listing

CLEANER COAL TECHNOLOGY AND ITS COMMERCIAL IMPLEMENTATION
  2/4/02 to 2/5/02 - London,  England
  [ ] 27-7372: Request more information on this listing

INTERNATIONAL COLLOQUIUM ON ENVIRONMENTALLY-PREFERRED ADVANCED POWER GENERATION
  2/4/02 to 2/7/02 - Newport Beach, CA USA
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THE ADVANCED PROJECT FINANCE COURSES
  2/4/02 to 2/6/02 - Houston, TX USA
  [ ] 27-7276: Request more information on this listing

GROUNDING OF ELECTRICAL DISTRIBUTION SYSTEMS
  2/4/02 to 2/6/02 - Orlando, FL USA
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BUSINESS CONTINUITY & DISASTER RECOVERY PLANNING
  2/5/02 to 2/6/02 - New York, NY USA
  [ ] 27-7446: Request more information on this listing

GLOBAL EXPERTISE 02 - ENERGY MARKETING CONFERENCE
  2/6/02 to 2/7/02 - Vaasa,  Finland
  [ ] 27-7375: Request more information on this listing

FUEL CELL DYNAMICS 2002: REALITY, NOT HYPE
  2/6/02 to 2/7/02 - New York, NY USA
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FUNDAMENTALS OF BUYING AND SELLING ENERGY
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  [ ] 27-7288: Request more information on this listing

ANNUAL WORLD CONFERENCE
  2/6/02 to 2/8/02 - New Orleans, LA USA
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TRANSMISSION EXPANSION AND SYSTEMS IN TRANSITION CONFERENCE
  2/6/02 to 2/7/02 - Miami, FL USA
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THE ADVANCED PROJECT FINANCE COURSES
  2/7/02 to 2/8/02 - Houston, TX USA
  [ ] 27-7277: Request more information on this listing

NATURAL GAS - 101 SEMINAR
  2/7/02 to 2/8/02 - Houston, TX USA
  [ ] 27-7470: Request more information on this listing

CRYSTALLIZATION OPERATIONS
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  [ ] 27-7524: Request more information on this listing

NARUC WINTER COMMITTEE MEETINGS
  2/10/02 to 2/13/02 - Washington, DC USA
  [ ] 27-7437: Request more information on this listing

WINTER CONFERENCE 2002:  TECHNOLOGIES FOR EMERGING ENERGY POLICIES - MEETING ENERGY DEMANDS WITH SECURE, ENVIRONMENTALLY FRIENDLY TECHNOLOGIES
  2/11/02 to 2/12/02 - San Francisco, CA USA
  [ ] 27-7377: Request more information on this listing

THE COMMERCIAL OPPORTUNITIES IN THE GENERATION OF POWER FROM NUCLEAR ENERGY: COMMERCIAL VIABILITY DRIVING INVESTMENT
  2/11/02 to 2/12/02 - Rome,  Italy
  [ ] 27-7300: Request more information on this listing

COMPREHENSIVE 5-DAY TRAINING PROGRAM FOR ENERGY MANAGERS
  2/11/02 to 2/15/02 - Miami Beach, FL  USA
  [ ] 27-7310: Request more information on this listing

THE ELECTRIC WEST SHOW

  2/11/02 to 2/13/02 - Las Vegas
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  [ ] 27-7132: Request more information on this listing

CERAWEEK 2002 - THE NEW FACE OF RISK: ENERGY STRATEGIES FOR A CHANGED WORLD
  2/11/02 to 2/15/02 - Houston, TX USA
  [ ] 27-7462: Request more information on this listing
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FUNDAMENTALS OF ENERGY FUTURES, OPTIONS & DERIVATIVES
  2/12/02 to 2/13/02 - Houston, TX USA
  [ ] 27-7398: Request more information on this listing

BASICS OF INDUSTRIAL ELECTRICITY
  2/12/02 to 2/14/02 - Atlanta, GA USA
  [ ] 27-7442: Request more information on this listing

BUSINESS CONTINUITY & DISASTER RECOVERY PLANNING
  2/12/02 to 2/13/02 - Chicago, IL USA
  [ ] 27-7447: Request more information on this listing

HIGH VOLTAGE ELECTRICAL SAFETY OSHA REQUIREMENT 29 CFR 1910.269
  2/13/02 to 2/14/02 - San Antonio, TX USA
  [ ] 27-7459: Request more information on this listing

GAS PROCESSING CONTRACTS & NEGOTIATIONS
  2/13/02 to 2/14/02 - Dallas, TX USA
  [ ] 27-7503: Request more information on this listing

FUNDAMENTALS OF THE ELECTRIC POWER INDUSTRY
  2/14/02 to 2/14/02 - Houston, TX USA
  [ ] 27-7402: Request more information on this listing

FUNDAMENTALS OF STATISTICAL ANALYSIS
  2/14/02 to 2/14/02 - Houston, TX USA
  [ ] 27-7410: Request more information on this listing

FERC-DOE DEMAND RESPONSE CONFERENCE
  2/14/02 to 2/14/02 - Washington, D.C.,
  [ ] 27-7485: Request more information on this listing

GAS-TO-ELECTRICITY ARBITRAGE & MAXIMIZING THE PROFITABILITY OF ELECTRIC GENERATION
  2/15/02 to 2/15/02 - Houston, TX USA
  [ ] 27-7405: Request more information on this listing

HOW TO VALUE ELECTRIC GENERATION ASSETS USING REAL OPTIONS
  2/15/02 to 2/15/02 - Houston, TX USA
  [ ] 27-7413: Request more information on this listing

FUNDAMENTALS OF VALUE-AT-RISK
  2/15/02 to 2/15/02 - Houston, TX USA
  [ ] 27-7416: Request more information on this listing

FUNDAMENTALS OF MONTHLY AND LONG-TERM FORECASTING
  2/18/02 to 2/19/02 - Orlando, FL USA
  [ ] 27-7364: Request more information on this listing

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I will make the arrangements. I assume we are talking both financial and
physical?

To: Mark Taylor/HOU/ECT@ECT, David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Peter Keohane/CAL/ECT@ECT
cc: Justin Boyd/LON/ECT@ECT

Subject: Bullion Due Diligence

Dear Mark, David and Peter,

We have been asked to carry out due diligence so that we can trade Bullion on
EnronOnline and have instructed local counsel with respect to the list of
European jurisdictions I have been given.  The products involved so far are
Gold, Silver, Platinum and Palladium.   The other jurisdictions that would
fall under your remit are as follows:

Mark: USA
 Peru
 Mexico

David: Australia

Peter: Canada

Kind regards,

Justin Boyd


Just in case you receive a call from either JB or David.  They were called yesterday and I spoke with Neal and let them
know they were going short again after we cleaned up their current imbalance over last weekend and Monday.
They were short for Wednesday's gas day.  My conversation was with Neal that they make adjustments to their nominated
volumes or turn on more gas.  It does not appear they did either one.  I will call them this morning and let them know that
they have until ID-1 to turn on more gas or cut their noms or TW will be cutting their market for ID-1.  Maybe this is a
good opportunity to discuss park and ride again.  TW covered 7,000 mmbtu/d of Markets according to the scada numbers
that we see.

Let me know if you agree.

Thanks Ds


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/05/2001
09:04 AM ---------------------------

Bryan Seyfried
03/30/2001 10:08 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Asset Swaps vs CDS's

---------------------- Forwarded by Bryan Seyfried/LON/ECT on 30/03/2001
17:12 ---------------------------

Martin McDermott
23/03/2001 18:47
To: John Sherriff/LON/ECT@ECT, Bryan Seyfried/LON/ECT@ECT
cc:

Subject: Asset Swaps vs CDS's

John,

I haven't had much time to put something together on this issue.
Fundamentally both instruments represent the same credit risk, i.e. same
credit events and contingent payments, both represent senior unsecured credit
risk.  The differences in pricing therefore arise purely from supply and
demand.  One would expect generally that the asset swap would be lower than
the CDS because of liquidity:  there are only so many bonds out there, and so
demand for Asset swaps is limited.  I am attaching a one page note by JP
morgan where they claim that one of the principal reasons for the CDS to be
more expensive is people hedging convertible bonds by combining  (1) a call
option on the equity and (2) a CDS.  If the call is cheap they will be
willing to pay more for the CDS, driving the price up.  I'll try to
synthesize something more complete next week.

Cheers

Martin


Please put attached in the SITA file.  The ISDA parties are ENA and SITA.
Michael Khajeh-No in the London office will be negotiating this agreement
with SITA on behalf of ENA.
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 05/05/2000
12:27 PM ---------------------------

Michael Khajeh-Noori
05/05/2000 10:54 AM
To: Sara Shackleton/HOU/ECT@ECT
cc: Edmund Cooper/LON/ECT@ECT, Mark Elliott/LON/ECT@ECT, Deepak
Sitlani/LON/ECT@ECT
Subject: SITA

Sara

In advance of your calling me later this afternoon, I set out below some
thoughts the issues to be discussed:

1. Jurisdiction - under the English law Annex the preferable route is
recourse to the courts - I can confirm that this is Enron London's policy.

2, Non-reliance:  From our telephone conversation yesterday, I understood
that you said that the CP would be relying on us.  I believe that this should
not be the case and the usual non-reliance provisions should apply.  If this
is not the case, then

3. the additional para. (h) that you faxed me earlier today, I am informed,
is unnecessary.  I also understand that the practical effect of those
provisions might be to scare the CP.

Please call me so that we can discuss any of the above and/or to confirm that
you are happy for the documents to go out to the CP.

Thanks
Michael


Are you busy?


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November 7, 2001

FirstEnergy and GPU Close Merger

By Will McNamara
Director, Electric Industry Analysis

[News item from PR Newswire] FirstEnergy Corp. (NYSE: FE) closed its merger with GPU Inc. on Nov. 6 and announced that members of its Board of Directors had been named. The effective date of the merger is Nov. 7, 2001. "With today's closing of our merger, we will begin operating as a larger, stronger company, better positioned to provide significant benefits to our customers, shareholders and employees," said FirstEnergy Chief Executive Officer H. Peter Burg.

Analysis: When compared to 2000 and 1999, 2001 has turned out to be a rather anti-climatic year with regard to merger and acquisition activity in the energy industry. In fact, when compared to the early days of deregulation, M&A activity has slowed from a flood to a slow drip. The days of combining two vertically integrated utility companies to gain scale and guarantee survival appear to be on the decline. Partnerships will still continue, of course, but they are now of a different breed than before and have become far more focused on a particular market niche. One exception to the rather uneventful M&A scoreboard this year is the just-completed $4.2-billion partnership between FirstEnergy and GPU, which reportedly will create an electric utility serving 4.2 million customers from Toledo, Ohio to the New Jersey shore. The two companies have positioned their partnership as creating the "premier supplier in a 13-state region." However, while one of the few interesting deals this year, the FirstEnergy / GPU partnership has not been without controversy, especially with regard to lingering financial obligations that GPU has in the Three Mile Island nuclear plant.

First, let's establish the basics about this partnership. Akron, Ohio-based FirstEnergy has purchased Morristown, N.J.-based GPU Inc., paying a dividend of $0.42392 a share that will be payable on Nov. 28. FirstEnergy-itself a product of a 1997 merger between Ohio Edison and Centerior Inc. -is already an energy services holding company serving 2.2 million customers within 13,200 square miles of northern and central Ohio and western Pennsylvania. FirstEnergy also provides natural-gas service to approximately 50,000 customers in the Midwest and is involved in the exploration and production of oil and natural gas, and the transmission and marketing of natural gas, with resources that include proven reserves of 450 billion cubic feet equivalent of natural gas and oil-about 90 percent natural gas-and approximately 5,000 miles of pipelines. FirstEnergy also owns 7,500 miles of transmission lines, with 35 interconnections in 6 electric systems, and is a member of the Alliance RTO. FirstEnergy has a market capitalization of $8.1 billion, a P/E ratio of 12.99, and its shares currently are priced at $35.72.

GPU Inc. is an international provider of energy-related infrastructure and services. Domestically, its three electric utility subsidiaries-doing business as GPU Energy-serve two million customers in Pennsylvania and New Jersey. Through the GPU International Group, GPU develops, owns and operates transmission and distribution facilities overseas. GPU has a market capitalization of $4.8 billion, a P/E ratio of 10.51, and on its last day of trading (Nov. 6) its shares were priced at $40.39.

From its inception, the primary objective of this acquisition was to enable FirstEnergy to become the premier regional energy and related services provider in the northeastern quadrant of the United States. A key part of this strategy is the expansion of the combined company's unregulated marketing opportunities, including the acceleration of a retail business that FirstEnergy gains by buying GPU.

After Nov. 7, FirstEnergy will begin operating as a registered holding company with seven electric utility operating companies-Ohio Edison, The Illuminating Company, Toledo Edison, Metropolitan Edison, Pennsylvania Electric, Pennsylvania Power, and Jersey Power & Light-which reportedly will comprise the fourth-largest investor-owned electric system in the United States, based on amount of customers. As noted the combined company has billed itself as the premier supplier in a 13-state region. Those 13 states are New York, Pennsylvania, New Jersey, Delaware, Maryland, Virginia, West Virginia, Ohio, Kentucky, Indiana, Michigan, Illinois, and Wisconsin. However, it is clear that, among these 13 states, the combined company has already established a particularly strong business in New Jersey, Pennsylvania and Ohio, where it will maintain a geographic presence of 23 percent, 28 percent and 49 percent, respectively.

According to a presentation made by CEO Peter Burg earlier this year, the acquisition of GPU Inc. will "optimize FirstEnergy's generation portfolio," by, among other things, increasing its customer load and the utilization of its baseload units. Prior to the acquisition, FirstEnergy operated 16 power plants with a total system capacity of nearly 13,000 MW. Out of this total generating capacity, 58 percent (7,471 MW) is produced using coal; 29 percent (3,779 MW) comes from nuclear plants; 10 percent (1,273 MW) is fueled by natural gas or oil; and 3 percent (435 MW) comes from pumped-storage hydroelectric facilities. Through the acquisition of GPU, FirstEnergy reportedly will gain 1,155 MW in peaking generation and the opportunity for over 800 MW of capacity releases. Company information indicates that FirstEnergy produced nearly 70 million MWh of electricity over the last year.

As noted, while the partnership between FirstEnergy and GPU is for the most part quite synergistic and has obtained its necessary regulatory approvals in a comparatively smooth fashion, the deal has not been completely without controversy. For instance, a Pittsburgh-based consumer group known as Citizen Power has expressed concern that the partnership will ultimately prove harmful for consumers of the combined company. Specifically, the group claims that FirstEnergy customers have already been paying $9 billion in stranded costs and could be forced to pay for additional charges associated with GPU's partial ownership of the Three Mile Island Nuclear plant. Despite the fact that the merger is now officially completed, Citizen Power reportedly has asked a Pennsylvania court to require state energy regulators in that state to reverse the approval of the merger. One of the group's arguments is that the Pennsylvania PUC did not require either FirstEnergy or GPU to demonstrate how the merger would benefit or otherwise impact the public and did not seek approval from the groups involved in GPU's restructuring agreement with the state. Other groups in Ohio have similar frustrations with the PUC in that state and are concerned about any increases in FirstEnergy rates that may occur as a result of payments that GPU is still making toward Three Mile Island.

There is some public confusion surrounding GPU's holdings in Three Mile Island, which can be easily clarified. There are two nuclear units at the Three Mile Island (TMI) nuclear plant, Units 1 and 2. In late 1999, GPU sold TMI-1 to AmerGen Energy, the joint venture between PECO Energy and British Energy Co., for $100 million, which was about one-sixth of the book value for the unit. The ownership of the plant known as TMI-2 has remained with GPU. In 1979, TMI-2 was the site of the nation's worst nuclear accident, in which nearly half the uranium core melted. The TMI-2 unit is essentially dead and has not functioned since 1979. However, GPU has continued to keep the plant in a state of "monitored storage," and has encountered some expenses related to staff, etc., which continue to monitor the unit. The concern from some consumers, whether it is valid or not, is that FirstEnergy, which now owns TMI-2 due to its acquisition of GPU, will be picking up any residual expenses related to this unit. Specifically, TMI-2 is not scheduled to be decommissioned until 2014 at the earliest, and there may be some cleanup costs associated with the decommissioning that may exceed current estimates.

It is important to note that GPU has very little of its own generation assets. The company has followed a revised strategy over the last year that included the exit of the merchant energy business and a clear focus on the transmission and distribution sectors of the industry, as well as new non-regulated businesses. Another pending acquisition of some remaining GPU assets involves UtiliCorp's $2.1 billion offer for Avon Energy Partners Holdings subsidiary, the holding company for Midlands Electricity, which reportedly is the fourth-largest regional electricity company in the United Kingdom. This deal should move forward, although it was contingent on the completion of FirstEnergy's acquisition of GPU. FirstEnergy had previously established that it had no interest in retaining GPU's international assets, which include small holdings in Great Britain, Australia and South America. In addition, the offer makes sense for FirstEnergy, because it provides the company with available capital to pay down acquisition debt and possibly fund additional acquisitions.

Moreover, FirstEnergy executives believe any possible negatives in its acquisition of GPU are outweighed by the positives. Again, the fundamental benefit of the FirstEnergy / GPU partnership is that it should create one of the leading-if not the leading-electric providers in a stretch of territory from Ohio to New Jersey. FirstEnergy gains significantly in the deal by acquiring GPU's customer base and the ability to optimize its own existing and growing generation arsenal. Plus, FirstEnergy also gains GPU's remaining generation capacity, which is rather minimal but does include about 1,155 MW in peaking generation. From a broad perspective, FirstEnergy and GPU have followed through with a rather smooth merger process, which certainly represents an atypical development against a landscape of terminated consolidated deals this year.

UPDATE ON SAN FRANCISCO MUNICIPALIZATION VOTE: See the 11/6/01 IssueAlert  <http://secure.scientech.com/issuealert/article.asp?id=979>for a full description of Measures F and I that appeared on the ballot in San Francisco and Brisbane, Calif., in yesterday's election. Both measures related to municipalizing the electric system currently owned by Pacific Gas & Electric Co. According to data obtained from the San Francisco Department of Elections as of early morning on Nov. 7, voter turnout in the area was 25.16 percent. Measure F, which would create a Municipal Water & Power Agency in San Francisco only, passed by a very slim margin of 56,008 votes (51.02 percent) to 53,760 votes (48.98). The passage of this measure will create a new agency in the city of San Francisco (not a municipal utility district) that will not include the city of Brisbane. The agency will be governed by an elected seven-member board of directors and reportedly will replace the current jurisdictional oversight by the California Public Utilities Commission.

Measure I, which would have created a Municipal Utility District (MUD) in both San Francisco and Brisbane, did not pass. However, it was defeated by a very slim margin of 53,865 votes (50.63 percent) to 52,524 votes (49.37 percent).

It is not presently clear whether or not all of the absentee votes have been calculated in this election, and thus there is a good chance that the above tally may change in the next few days and could possibly alter the outcome of this election.

While Pacific Gas & Electric Co. put a positive spin on the election results in a press release that is circulating today, the fact of the matter is that this was a very close election. While the city of Brisbane shot down the idea of a MUD, San Francisco is proceeding with a Municipal Water & Power Agency, which at some point may also attempt to seize the transmission and distribution assets of Pacific Gas & Electric Co. Without question, the public power debate in this area is far from over and in many ways has received a boost from this election. I will continue to follow the story and provide further updates that occur from regional analysis.

An archive list of previous IssueAlert articles is available at
www.scientech.com <http://secure.scientech.com/issuealert/>

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