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Subject: Mavrix: ATTORNEY CLIENT PRIVILEGE Body: Further to our discussions yesterday, attached is a draft letter agreement = under which Transwestern would agree to terminate the Mavrix transportation= contracts. Note that Mavrix is required to indemnify TW for any revenue s= hortfall if the turned back capacity is not purchased by another customer a= t the same or better rate within 60 days. I believe this approach allows T= W to accomodate Mavrix's request to terminate without TW taking any financi= al risk or exposing itself to requests from other shippers that TW release = them from their contract obligations without penalty. =20 Upon execution of the letter agreement, the capacity will be posted on the = TW bulletin board as generally available capacity. There is some chance th= at a customer interested in the capacity will want to know where it came fr= om. I would suggest that the appropriate and accurate explanation is that = "capacity becomes available from time to time for a variety of reasons inc= luding contract expirations or terminations, waivers or expirations of ROFR= rights, and contract MDQ stepdowns. Such capacity is posted on the EBB as= soon as Transwestern becomes aware of its availabity." If the questioning= customer wants to know who's space it was, I believe it is our consistent = policy to not disclose any information about any shipper's contract to any = other shipper and that policy should be followed here as well. Of course, = if the Commission's Market Monitoring group or other FERC personnel call, t= he confidentiality problem does not arise and the shipper's identity should= be disclosed. The explanation in that circumstance, if the caller wants m= ore detail, is that "Mavrix is an Enron affiliate that was in the business = of trading interstate pipeline capacity but is winding down its business an= d terminating its contracts. Transwestern has agreed to contract terminati= on subject to an indemnity or "keep whole" mechanism. "=20 I'm including the legal team on this distribution as an FYI. I will follow= up on this later today. DF=20

Subject: Over 250 festive new items Body: Bring on that holiday feeling! The spicy sweetness of grandma's cranberry sauce spills from the kitchen, and you've been humming your favorite carol all day. That irresistible holiday spirit is here. You'll find it in our latest selection -- more than 250 festive new items including wonderful

Subject: Please Read! Body: You are hereby notified that the meeting of the Board of Directors of Enron Federal Credit Union will be held on Monday, November 19th, 2001 at 5:00 P.M. Conference Room EB/ECN 49c3, 1400 Smith Street, has been reserved for your use. We would appreciate your support in making our meetings as efficient and as productive as they can be. If you will not be attending; or If you will not be able to arrive at the start of the meeting at 5:00 p.m.; or If you would like to join the meeting by conference call, Please RSVP to Jennifer Jordan by, returning an email or by phone. Please note: If you would like to invite a guest to the board meeting, please notify Jack McAdoo at x3-6249 prior to the meeting for the schedule considerations. Thank you,

Subject: WT-2 capacity Body: Planning has conducted flow studies to determine the capacity of WT-2 system with respect to receiving volume from NNG at Halley interconnect. The limiting factors in determining the capacity of this system were the maximum discharge pressure at WT-2 and the average pressure requirements at Valero-Ward pipeline. WT-2 is able to discharge at a maximum of 1040 psig pressure and the operating pressure range of Valero pipeline in this area is 975-995 psig. Based on the above conditions WT-2 would be able to deliver only 505 mmcf/d gas to : Lone-Star Warwink 30 mmcf/d Valero Ward 115 mmcf/d Ovasis 138 mmcf/d Westar-Ward 80 mmcf/d Valero Pecos 95 mmcf/d Lonestar Pecos 47 mmcf/d Total 505 mmcf/d This flow model indicates that ( assuming main line valve-208 B is closed) WT-2 would be able to receive up to 100 mmcf/d from NNG at Halley interconnect. The remaining gas supply behind Wt-2 would flow from NGPL-Winkler, EOG, Keystone/ Sid Richardson, Monument and WT-1. Based on the data obtained from our TW-Firm Data Book the existing committed volume at WT-2 for next five months are:

Subject: EEOS / NEPCO Weekly Project Update... W/E October 12, 2001 Body: Please find attached the EEOS / NEPCO weekly project update for week ending October 12 , 2001. If you have any questions, you can call me at (713) 646-6106. Mark

Subject: Managing Directors Meeting - Monday, October 22, 2001 Body: I apologize if there has been any confusion regarding this meeting. It was originally scheduled for October 1, then moved to October 2, then moved again to October 22. Please confirm your attendance via e-mail. An agenda will be provided prior to the meeting. Managing Director Meeting

Subject: All-employee meeting Body: Ken, Greg and Mark: Our next all-employee is scheduled for Oct. 23 at 10 a.m at the Hyatt Regency Houston. Steve Kean asked me send you a reminder about the meeting and for you to be thinking about messages for both our investors and our employees. This will help when compiling the presentation slides. Also, please let me know if all of you plant to participate in giving the presentation. Thanks.

Subject: Congratulations Body: General Whalley, Kept thinking I would see you around outside to tell you personally how excited I was to hear of your promotion. Just wanted to take a moment to tell you how proud I am of you and your accomplishments. I knew you would do a great job for Enron when Lloyd and I moved you here. Little did I know How well. It does my heart good to see someone of your calibre come into a new Corporate environment and progress to such heights. Belated Congratulations, Deborah Kallus Enron Relocation Consultant

Subject: crude and products trading update Body: Mark and Greg, =20 FYI, below is an update from John Nowlan on Q3 issues surrounding the crude= and products P&L. I thought you would find this informative as to what is= going on. Mike 3rd Quarter update Recent steps taken to manage crude and products As you are aware the big changes this year have come from breaking the vari= ous businesses into their respective area and giving the lead to managing t= he business to a specific individual e.g. J. Goughary - Gasoline, C. Mahone= y - Distillates, N. Clarke - Resid, S. Bland - Petchems, B. White and D. Sc= hroeder - Crude. This was done to give more business focus and ensure as w= e build the mid marketing and origination groups we have the right trading = structure. As for origination and mid marketing we have been very successf= ul building out the USA org and now will be looking to add some talent in E= urope. Origination likewise we have been successful in the crude and produ= cts area with Randy's team. On the petchem side, I have been interviewing = extensively over the past week and hope to have one very strong addition fo= r Doug, Tim O'Neal, and two very highly rated associates coming from EBS. A= s for the trading itself, I imposed trading limits on all traders 3 weeks a= go and, as will be addressed next, we are not losing much if any money on o= ur daily trading rather the losses are coming from primarily one huge struc= tured position. Lastly, we have been quite aggressive in divesting of any = individuals, which were not helping us to achieve the goals, which we have = set forth. Bill Briggs, Phil Clifford and Andrea Hauser will all be leavin= g the group. 3rd Quarter loss explanation Losses to date: $40.23 million $30.79 is in the ERAC book (i.e. Don's big P+ and Nymex swap position) ?=09$23.34 is due to Vega, Theta and Gammas Vega: $4.30 Theta: $16.72 Gamma: $2.30 ?=09$5.2 due to curve shift $5.2 million in distillates ?=09$1.3 million we discovered in a mis -marked curve when Bill Briggs was =

Subject: Draft Bank Release Body: The attached press release is the latest draft, which has been approved by Enron and one part of Citigroup. JPMorgan is still reviewing, as is another part of Citigroup. The release includes several bracketed phrases and sentences that are still being discussed. In the first paragraph, Citigroup wants to use "including due diligence" and delete "final." In the fifth paragraph, Citigroup wants to use the phrase "in a few days" rather than "shortly." The quote from JPMorgan may or may not be in the final release. Once the terms of the agreement are finalized, we plan to issue this release before the opening of the market Thursday (6 a.m.). If you have any comments or changes, please let me and Steve Kean know by email or voicemail. Thank you.

Subject: Enron Update Body: Following our announcement of an additional of $1 billion credit line, Standard & Poor's (S&P) today downgraded Enron's long-term credit rating one notch from BBB+ to BBB and short-term rating from A2 to A3. We expected this, because it is not unusual to be downgraded after using assets to secure credit. This is still above investment grade. The ratings of our pipelines Northern Natural Gas and Transwestern have also been lowered from A- to BBB. In S&P's words, "Their ratings [are now] in line with those of the parent company to reflect S&P's view that Enron's pipeline assets have become more strategic to the company." S&P also said, "[We continue] to believe that Enron's liquidity position is adequate to see the company through the current period of uncertainty, and that the company is working to provide itself with an even greater liquidity cushion through additional bank lines and pending asset sales." As I've said before, building on our liquidity position through additional credit lines maintains our counterparties' confidence and strengthens our core businesses. It's important for you to know that our gas and power numbers - which account for more than 95 percent of our trading activity - indicate that our customer base is not withdrawing, closing out positions, or reducing transaction levels as a result of credit concerns. In fact, EnronOnline trading volumes are currently experiencing above-normal activity. We will continue to update you as new developments arise. Thank you.

Subject: Strategic Planning Meeting Body: I would like to have a planning meeting tomorrow to begin coordinating the development of a strategic and tactical global plan with goal of being completed with that plan by Friday. Let me know at your earliest convenience what time tomorrow works well for you. Regards,

Subject: Deal Pipeline sent 251001 Body: The latest deal pipeline can now be accessed via S\Forecast Deal Pipeline\. The resolution centre has given read access to all recipients of this report, including those in the US. If you have any problems contact myself with any questions. Please recognise that this is confidential information and that this document should not be forwarded. If you wish other team members to receive this document, please send a request by email. Please call Buddy Aiken or myself with any questions or comments. Thanks

Subject: november 25 board agenda item - retention Body: Greg, Please review with Ken Lay. We're going to put this on the Agenda for the 6pm (CST) Board meeting unless we hear otherwise from you. Dr. LeMaistre, Mary Joyce, Towers Perrin are all aware of the proposed retention plan. The urgency is coming from BU and Function leads. The current resolution gives delegation to Enron OTC for final sign-off and implementation in consultation with Towers Perrin. Call either David Oxley or me to discuss. Thanks,

Subject: Belated congrates to a classmate Body: Whales, Just a short note to congratulate you on your success at Enron. I had an email written shortly after your promotion but then the 9/11 shi* happened and I lost track of it. Well now that you guys are back in the news quite a bit I figured that I should at least send you a note. Even considering the issues currently facing Enron, I am sure you will emerge strong and better than before- you always had a knack for that at school and I am sure it will continue now. We started down the track of doing business with you guys (in the areas of financial products and insurance) but I don't know how the upcoming merger will effect that. Just found out that my plebe year Squad Leader Ricky Waddell (Rhodes Scholar and Academic All American in football) works for you in S. America. Great guy! Are you thinking of going to the Army/Navy game? Two ranked teams!!! I am heading back with John Heller (the football player not the swimmer). He has a skybox and we might have some extra tickets so let me know. Best of luck and I look forward to catching up with you.

Subject: Enron Center South project Bonuses Body: Hi Greg, There are a small number of people in my group who were promissed a completion bonus on the new building. They were asked to work double time for much of the projcect by Skilling/Bibi and have, in my view, done a remarkable job. Can you let me know if we will be in a position to honour these bonuses? They amount to approx $200K in total. Regards

Subject: Enron Employee Meeting, October 23, 2001 at 10:00 a.m. Body: I want to remind each of you to attend the Enron Employee Meeting tomorrow at 10 a.m. in the Hyatt Regency Imperial Ballroom. I hope to introduce many of you at the meeting, so please plan to sit up front. Seats will be held for you. This will be a very important meeting. I look forward to seeing you there. Regards,

Subject: Enron Sweep, L.L.C. - New Formation Body: Enron Sweep, L.L.C., a Delaware limited liability company formed on September 20, 2001, changed its name to Swee'P, L.L.C. on September 25, 2001. Particulars are: Parent Company: Enron North America Corp. Business: Special purpose LLC formed to participate in a monetization of certain accounts receivables of Enron North America Corp. generated from the physical sale of natural gas. Directors and Officers: See Attached Employees: No Foreign Qualifications: Texas Company No. : 1748-ESWP Please circulate this information to all interested parties within your group. For more information, see attached Corporate Data Sheet. PLEASE NOTE: Gina Karathanos - copy of evidence being sent by interoffice mail Angie Ramirez - please apply for FEIN Sylvia HU - Minute Book and one seal have been ordered Lillian R. Bailey Administrator Corp Services EB4863 Ext. 33577 Telephone 713/853-3577 Fax 713/646-8007 [email protected]

Subject: enrononline Body: i heard that while i was out our technical folks had a discussion. from what i understand, all of the technical issues are workable. given that, lets have a discussion to determine the structure and liklihood of a deal, assuming you are interested. i will try to reach you monday, or you can call me this weekend home--713-465-1641

Subject: Whalley's Visit to London Body: Hi Richard, Per my voicemail, are you available for at least an hour to meet w/Greg Whalley while he is in London? He is wide open on Thursday. Please advise. Many Thanks, Liz Taylor - E.A. to Greg Whalley

Subject: 2001 Goals & Objectives Body: Hi John, Have you sent Greg Enron Europe's 2001 Goals & Objectives (no more than 3 to 4 each)? If not, he needs them asap. I'll also check through his emails to see if you sent them already. Many Thanks, Liz Taylor

Subject: Trip request #382 Body: i want to make sure that the current bid of $12,115 for a round trip to turks and caicos is correct. i would also like to find out what landing fees, international taxes and/or overnight hanger fees i will have to pay if i book this trip. the note at the bottom of the "view trips" page also says that bids are subject to availability. will availability be confirmed at the time i book the trip? or will i have to wait some period of time to find out?

Subject: Schedule for the rest of the month Body: Hey Guys! Here is the tentative schedule for the rest of the month. Let me know if there are any problems with it. I didn't put anything for the last day of the month or the first day of January as we don't know what will be going on those two days at this point. Thanks!

Subject: Risk positions Body: Stacey, The two risk roles are as follows: Vectren Corporation in Evansville Indiana is seeking a Mgr level individual. They are building a trading group and would need thr person to generate daily trading reports, monitor trading limits, analyze energy trading portfolio,credit risk control & reporting. They see the role becoming Risk Mgr for the firm shortly down the road. Compensation 80-110k + bonus depending on experience. Locally in Houston, Cinergy is seeking a credit risk analyst to support the natural gas business (physical,trading & sales all wholesale) Analyze counterparty credit, ISDA knowledge a plus. Negotiate with counterparties on collateral & margin agreements. 50-70k depending on exp. Feel free to call me with any thoughts. Regards, Jim

Subject: 12.14 Deals Killed per Kori Loibl Body: Folks- Kori asked us to kill all the deals between her portfolio and other portfolio due to the bankruptcy. For this reason, I used Casey's ID (because I did not have access) to access about 20 deals, and I killed these deals. I have created a spreadsheet with each of these deals listed. Thanks.

Subject: EOL - Multiple Trading Books (URGENT) Body: Tim and John, I wanted to touch base with you regarding a problem that we have run into between EOL and a trader having multiple trading books. EOL has been set up to have a trader associated with one and only one trading book in the stack manager. As a result, when creating the interface between EOL and Enpower we can cannot assign multiple trading books to one person. David Poston in the Enpower IT support group in Houston has been working with the EOL group and has come up with a solution. 1. If you definitely plan to be trading on EOL for all trading books associated with your name, EOL IT can define certain products to each trading book. If this is the approach that you would like to take, I will need a list of what products you want to trade and to which trading book they are affiliated with. 2. The other option is that you will just use one trading book under your name. If that is the case, no changes will have to be made. If the plan is to use the first option, please let me know so we can make the changes and do the necessary testing on this. John

Subject: Curve Validation Report Repository Body: All- The Curve Validation folder/repository has been setup on the O drive and includes the following folder structure (bold names are those items with subfolders): O:\Curve Validation 2001 Reporting Consolidated EES EGM Financial Enron Americas US Gas US Power Canada Gas Canada Power Enron Broadband Services Enron Global Assets Enron Global Markets (excl. Financial) EGM Financial Enron Industrial Markets Procedures and Template (the reporting template, procedures and rollout document are included here) I've already requested access for you based on the validation team structure, Exhibit A in the procedures mailed last week. This request should hopefully be done by mid-week. Going forward if additional personnel in your groups need access to the folders, please have them fill out an e-request. The requests will come to me and I will call the RM personnel on each team to clear access rights. Let me know if you have any questions. Regards

Subject: Audit Issue Response Body: The attached file contains the audit issues for which you were identified as the responsible party. Please document your responses in the "Resolution" column and return the file, via email, by the target date. If a target date has already passed, please respond no later than Wednesday, 10/24/01. Please call if you have any questions. Thank you.

Subject: Help! Body: For those of you I have not told, my brother Eric was recently laid off from Siemens out of Atlanta. He is looking for a sales position, especially in the field of medical devices. He is leaving open the option of moving back to Texas if he is able to find employment here. I am including a brief paragraph he wrote about his experience. I would love to have my brother, sister 'n law, little niece, and unborn child back in Texas. If you know of any contacts in the medical device field, please let me know and my brother will send them his resume. Jason, my husband, is still looking for a job also! He is looking for pharmaceutical sales, but is also leaving his options open for other sales opportunities in Dallas! Thank you for your help during this difficult time! Hope all is well with everyone! Chris From Eric: I am an accomplished sales professional with 10 years experience developing and implementing technology-based solutions. I have direct sales experience with national accounts and have managed a sales force in the Southeastern region of the U.S. Over the years, I have had outstanding success building and maintaining relationships with key corporate decision makers and I've established large-volume, high-profit accounts with excellent levels of retention and loyalty. I've spent my entire career with Moore Products Co., which was recently acquired by Siemens. Due to the economic conditions and restructuring at Siemens I am leaving the company and I'm seizing this opportunity to apply my high-tech professional sales skills into the medical device industry. Do you know anyone in this market that could provide me more information about companies in this industry or any companies looking for people with my skills?

Subject: Revised "Contact List" for UBS Warburg Energy Operations - February, 2001 Body: Attached is an updated "contact" list for UBS Warburg Energy Operations. Please disregard prior list sent. If your contact numbers should change, please e-mail me with your new numbers so assure accuracy of this listing. Thank you so much,

Subject: 1967119/Shipping/Change of Method Body: Dear Mark Whitt, Thank you for your recent order via our website. Fortunately, we were able to change your shipping method before the package shipped. It will now be shipped via expedited ground, and should arrive in 5-7 business days. This will change the total cost of your order to $79.40. Unless you choose another method, all web orders are shipped SURFACE (via Parcel Post). This is your most cost effective shipping option (unless time is a factor), because it's based on the very low "bulk" rates Sierra Trading Post is able to negotiate due to its huge shipping volume. If you would like to specify another method of shipment, please remember to do so in the "Shipping" choices section during check-out, or place a note in the "Comments" section. Thanks for shopping with us. We appreciate your business.

Subject: virus alert! Body: Sorry everyone! I've received a virus from someone else and now your computer may be affected since you're in my address book. I'm told it lies dormant for 14 days, THEN IT KILLS YOUR HARD DRIVE! NOTE: When I receive this notice, I updated my McAfee and ran a full scan, and it did not catch it. Here's how to stop it, if you've got it. Also, send this message to everyone in your address book. I received this message, followed the instructions and got rid of it, so please do the same. The directions for removing it are easy: 1. Go to 'Start' - then to 'find or search' (depending on your computer). 2. In the 'search for files or folders' type in sulfnbk.exe - this is the virus. 3. In the 'look in' make sure you're searching Drive C. 4. Hit 'search' button (or 'find') 5. If this file shows up (it's an ugly blackish icon that will have the name 'sulfnbk.exe' - DO NOT OPEN IT. 6. Right click on the file - go down to delete and left click. 7. It will ask you if you want to send it to the recycle bin, say yes. 8. Go to your desktop (where all your icons are) and double click on the recycle bin. 9. Right click on sulfnbk.exe and delete again - or empty the bin. If you find it send this e-mail to all in your address book, because that's how it is transferred. I Apologize! Randy Lasater McVey and Company Realtors

Subject: URGENT! URGENT! VIRUS ALERT! Body: Please be aware that there is an email circulating the Enron messaging environment !!! The infected email has the following characteristics : Subject : Hi Body : Hi, I found a cool site! <web link> It's really cool! An alternative version of the infected email also have an Excel spreadsheet attachment. If you receive this email, DELETE it immediately. DO NOT CLICK ON THE WEB LINK. DO NOT LAUNCH THE EXCEL ATTACHMENT! Please note that opening the email automatically via the "preview pane" does NOT launch the virus. The Enron global messaging service has taken the necessary steps to ensure all internet email sent to your Enron internet address is virus free. But there are ways that you can ensure viruses do not make their way into our environment : Always ensure you do not launch attachments or web links received from people you do not know. Always ensure that you do not access/launch/download any attachments from external (web-based) email service providers while you are using the Enron network. Detection + Prevention = Protection! Thank you.

Subject: Undelivered Mail Returned to Sender Body: This is the Postfix program at host exseamx02.concureworkplace.com. I'm sorry to have to inform you that the message returned below could not be delivered to one or more destinations. For further assistance, please contact <[email protected]> If you do so, please include this problem report. You can delete your own text from the message returned below. The Postfix program <[email protected]>: unknown user: "enron_update"

Subject: Colorado PUC NOv 1 Body: Mark--one of my colleagues, Bob Frank, is going to be attending the hearing on Thursday morning at the Colorado PUC on my behalf. Bob has as strong background in regulatory proceedings and will be able to expand on our comments before the Commission if given the ability to present. (As we had talked about previously, it is very possible the the Commissioners will ask interested parties if they would like to speak---this is a tad less formal than evidentiary proceedings).

Subject: Kern Shippers Documents (Part I & Part II) Body: Ty and Phil, can you please advise as to the status and provide me copies of all documents related to payment # 1 and # 2 regarding the kern shippers. What I really want to do is tie out paper work, signatures and ensure that we are tight on all fronts. Pls advise ( by co. name ) the status of all pending documents and a plan to get signatures as required. BT

Subject: Medicine Bow Tie-In Capacity Body: Dear Medicine Bow Shipper: This morning we received FERC approval for the fourth tie-in segment (to gate #7) contracted for 92 Mdth/day. This brings the firm capacity of the Medicine Bow system to 472 Mdth/day. The contract effective date will be October 19, but you will be able to utilize this capacity as soon as we have it set up in the system today. Please call me if you have any questions.

Subject: Fax Cover Sheet Body: Mark, Please disregard the comments on the fax cover sheet just sent to you. You should have received with the cover sheet the Notice letter from Crestone Energy Ventures, LLC regarding the Master Services Agreement. If you did not receive that letter, please notify me as soon as possible. Janet Place

Subject: UPDATE - Reporting to Work Next Week Body: Many of you have asked whether you should come into the office next week, especially if there is no guarantee of being paid for time worked after today. We want to encourage you to come to work. We continue to consider every option available to us as a company; and unfortunately, restructuring through bankruptcy is one of those options. Your continued efforts during these trying times are critical to the company as we go through this decision making process. I still cannot say with certainty if or when we will file for bankruptcy. But you should be aware that, in general, the bankruptcy code provides protection for employee salaries and wages earned within 90 days of a petition filing to the extent of $4,650 per employee. I want you to know that if we file a bankruptcy petition, we intend to seek approval by the bankruptcy court to exercise that protection immediately and pay you for your time worked prior to any petition filing according to our regular payroll practices. Additionally, Enron would be obligated and will pay salaries and wages earned after a bankruptcy filing. For Enron, where our value is directly tied to our employees, making sure that we meet these obligations will be a high priority. We are continuing to evaluate the ongoing resource needs of the company for each potential option we might pursue. Of course, until we finalize those business decisions, we cannot make that determination. I know that this prolonged process is agonizing for you. I can only continue to assure you that we will notify you of your employment status as soon as we are able to do so. While terminated employees will tap into their own network of contacts as they look for new employment, we hope to do what we can to assist them. We will tap into the contacts we have as a company to aid terminated employees in their job search. We have already been in touch with several employers and many are interested in Enron alumni. We will share more information on these efforts soon. I appreciate your continued patience and cooperation. Ken

Subject: SAP System Outage Body: System Outage Notification Outage Description: All SAP systems (including Prod Interface, all EBP systems, iPayit, iBuyit, and FTP servers) will be shutdown in order to upgrade our storage hardware. This maintenance is required to ensure that sufficient storage is available for the SAP Production systems. Date & Time of Outage: Outage Commences: November 16, 2001 @ 8:00pm CST Outage Ends: November 19, 2001 @ 2:00am CST Contacts: Contact: Contact Information:

Subject: CIG Open Season Closes Nov. 30 Body: The open season for CIG's Parachute Creek lateral will end next Friday, Nov. 30. It is for delivery to either NWPL at Sand Springs, Queastar at meter station 101 in Utah, or TransColorado at Dark Canyon. Do you need more info on this and/or do you think we will want to participate? Let me know. Phil

Subject: INTERNET ORDER: Sierra Trading Post Order E703207 Body: Your order has been shipped. Thank you. If you have any questions or concerns, please call us at 1-800-713-4534 or drop us an email at [email protected]. Sincerely,

Subject: Win2000 Deployment Body: Widows 2000 migration will begin this week with the physical hardware scan - 4/16 to 4/17. The migration techs will need to check out the hardware on every machine we use. All laptops will need to be brought into the office no later than 4/17. During the week of 4/16 everyone will need to make themselves available for a profile interview, identifying unique application uses and machine requirements, with a member of the migration team. This should only take 15 - 20 minutes. The techs performing the interview should contact you via email, if you wish to set an appointment just respond to the email with the preferred date & time of your choice. Appointments will be scheduled on a first come first serve basis. 4/17 - We will need to identify two pilot users. These should be the individuals within the group who use the most applications, our "Power Users", this will ensure that all applications are tested to their fullest extent. All shared spreadsheets will need to be identified as excel seems to have caused the biggest problems in the past. 4/18 - 4/25 The Pilot process will last 5 business days, during which time the pilots are rolled completely to Windows 2000. The pilots will use Notes R5 for two of these days and Outlook for the remaining 3 days. Our desk bears the ultimate responsibility to ensure that ALL applications and spreadsheets used by the entire group have been tested. This may require other members of the group to use the pilots machine to test applications or spreadsheets that are unique to your job. ONLY THE PILOT USERS SHOULD LOG ON TO A WIN2000 MACHINE. IF YOU ARE NOT A PILOT AND YOU LOG ON TO A WIN2000 MACHINE YOU WILL HAVE SEVERE NETWORK PROFILE ISSUES! We will need to identify all directories and applications that we use so our support techs can arrange for the pilot user id to have access to everything the group uses.

Subject: A Plausible Future for Power Generation Body: Coming Full Circle: A Plausible Future for Power Generation Speaker: Amy Oberg Manager, Competitive Intelligence and Future Foresight Enron Energy Services Wednesday, May 30 11:30 a.m. to 12:30 p.m. EB 5C2 To Make a Reservation, Call 3-1941 and Select Option 1. Lunch will not be provided, but you are welcome to bring your own. Please inform us ahead of time if you need special accommodations to participate in this meeting. Call 3-9390.

Subject: Michcon Deals Body: Just a note that all Michcon deals need to be entered as MICH/Michcon Other/1130. This is the generic meter we are using for all buys and sells on Mich. Thanks! I have changed the following deals: 810123 810126 810128 810130 Cora

Subject: Cut on ANR to Peoples Gas Contract 104684 Body: Jason, I verbally confirmed the cut that occurred for gas day May 30th with Irene Isais of our Gas Transportation Services department. Peoples ANR contract 104684 was cut by 6,599 MMBtu throughout the May 30th gas day. The supply was cut because PGL Gas Supply was not told by Enron North America that the Northern Border supply @ Will County had been reallocated on different contracts. All four GISB cycles were exercised in an attempt to receive the entire 40,000 but since the contract mismatch was not corrected until the final cycle, Peoples lost 6,599 MMBtu for the day. Peoples reduced its SIQ purchase from 125,000 to 118,401 for gas day May 30th. Jer

Subject: Seminole Energy Services L.L.C. Online trading request Body: Gentlemen, Seminole Energy Services L.L.C. has recently provided our audited financials for review by Jason Williams of Enron credit dept. We would like to initiate the setup of an online trading account. Please advise as to the status. Regards,

Subject: Florida Power Corp. Body: Follow up to e-mail request for credit worksheet for FPC on April 11th. Tammi needs to send a draft to the customer today. Thanks ! !

Subject: Gas Day of April 19th Body: Jason, 138 MMBtu was cut after the final GISB cycle on ANR Contract 104684. The cut was the result of Northern Border confirming the incorrect number during the timely, evening and intraday 1 cycles. The supply @ Will County for Peoples went from 40,000 to 39,862. Peoples Gas reduced its SIQ purchase from Enron North America. The purchase went from 125,000 to 124,862. Jer

Subject: WARNING: Your mailbox is approaching the size limit Body: This warning is sent automatically to inform you that your mailbox is approaching the maximum size limit. Your mailbox size is currently 84174 KB. Mailbox size limits: When your mailbox reaches 75000 KB you will receive this message.To check the size of your mailbox: Right-click the mailbox (Outlook Today), Select Properties and click the Folder Size button. This method can be used on individual folders as well. To make more space available, delete any items that are no longer needed such as Sent Items and Journal entries. You must empty the Deleted Items folder after deleting items or the space will not be freed. To turn Journaling off, click Tools | Options | Journaling Options and de-select all items. See client Help for more information.

Subject: RvIDE Body: Jason, thanks for that. It seems ok at the moment. We are planning to use this for retrieving production trades (around 1000 per day). Do you know what the cause was? It would be pretty drastic if this happens in a live environment. I would like to feel confident that it will be reliable in a production environment. Regards,

Subject: Consumers Deal Body: Consumers Energy Deal Summary Part 1 On 11/9/00 ENA entered into an agreement with Consumers Energy to borrow 1 BCF in July-01 and payback in July-02 at the Consumers Citygate pool. ENA agreed to pack Consumers Energy a demand fee of $680,000. Payment date was set for July-.01. Part 2 On 4/30/01 ENA unwound the deal with Consumers Energy . ENA will reduce the demand fee from $680,000 to $130,000. This is to be set for payment 5 business days after 4/30/01. The previous sitara deal tickets are killed (sitara # 478110 on the injection and sitara # 478135 on the withdrawal). The tagg# V67045 was unwound.

Subject: db outage Body: David, Bryan referred me to you. We are supporting the People's Energy website which interfaces with an Oracle db. It has been functioning properly until recently. I currently do not have insight to see what the connection string is in production, but when trying to connect to the development database "peoplesdev", using U=peoples_user P=peoples_user, I am receiving the error "ORACLE not available". Do you know if this database is out, or if the login parameters have changed? Thanks,

Subject: Pipeline Contacts Body: Hello everyone, Please take a minute of your time to fill in the attached document about your pipelines. Be sure to indicate ALL of your customers. Please send it back to me by e-mail before Friday, May 11th. Thank You, Brandee Jackson

Subject: EnPower outage Body: The EnPower database will be down from 4 PM Friday afternoon (6 PM Houston) to 4 PM Saturday afternoon (6PM Houston). The reason for this is the NETCO/Estate database and hardware split that is occuring this weekend. You must re-boot your machines following this shut down to access any EnPower applications.

Subject: DA ahead Cali schedule taken to the HA market 01/02/02 Body: To whom it may concern: For January 2, 2002, the in order to pass phase II within the CISO market, I agreed to take a schedule from the DA to the HA in NP15 with the APX. The schedule is for 17mw on peak. I built a load zone in PGE3 (ST Cali) and took the trade with the APX to zero. Please be sure to reempliment the original schedule. I spoke with Max @ the APX and the schedule was changed because the APX could not verify the schedule with their customer (Sierra Pacific Holdings). If you have any questions please give me a call. Bert

Subject: New Real Time Schedule for December 2001 Body: Team, Pleas note that there is a new schedule for December. You may find it in the real time schedule notebook. If you have any questions or concerns you may either trade with one another or talk to Bill for a remedy. Thanks,

Subject: Online Trading Simulation Feb 7th Body: Preparations are continuing for our simulation on Thursday, Feb. 7 from 9-11 am. During the simulation, you will be able to use your normal, "live" Stack Manager User ID and password, which will be emailed to you separately. The attached word document below provides a basic review on Accessing the Stack Manager. You should manage the same products as you normally would, even if those products are not expected to be going live on our initial launch day. If you have products that need to be created, please contact Kevin Meredith (3-9555) or Chris Walker (3-7533) with UBSWenergy.com immediately. Trading Goals - for all traders participating in the simulation. Log into the stack manager on Wednesday afternoon and ensure that your products are ready to be activated on Thursday morning. We will send you a reminder on Wednesday to advise you of the time when the application will be available. Start and end with a flat position Make markets in your respective products Maintain tight spreads in the products you manage NON-UBS PERSONNEL WILL NOT BE ABLE TO SEE OR TRANSACT ON PRODUCTS DURING THE SIMULATION. Internal Originators will be playing the roles of customers and will be hitting your stacks throughout the simulation. You will also be able to trade book to book via the website with your website User ID and password which will also be emailed separately. Market "News" events may be emailed to you at certain points throughout the simulation (e.g. "storm in the gulf"). Immediately after the simulation, the website will be inactivated, so that the operations group can test the mid/back-office systems, while the IT groups clean-up the transaction data from the simulation. The system will be made available again for live, internal trading (book to book) between traders on Friday, February 8, 2002. FRIDAY'S TRADES ARE FOR REAL. If you can't log into any application on the day or are having trouble with your systems, please contact the UBSWenergy.com Help Desk immediately at 713.584.4444 Regards,

Subject: Drug Test for UBS Body: Geir - Our records indicate that you have not taken your pre-employment drug test for UBS. Can you please do so ASAP, or if you have already completed, can you please let me know the date that you went so that we can update our records. Thanks!

Subject: Lunch - Thursday, November 1st Body: Folks, We are scheduling interviews for candidates for the ENA Trading Track on Thursday. We have 10 external candidates interviewing and we would like your support to mix and mingle with them over an informal lunch at 12:45pm in Room EB42C. Please let me know if you can attend. Regards,

Subject: Response to your Inquiry Body: Dear Jason Wolfe, Thank you for your interest in the 2002 Ford Thunderbird Premium found on a Ford Motor Company Website. To ensure you receive our most competitive price, I am checking your request against our available inventory. I will contact you shortly to confirm the specifications, availability and price of this vehicle, and to make sure it is exactly what you want. If appropriate, we may review other items necessary for an efficient buying experience, including any trade-in, financing and insurance. I would also be happy to meet with you at your convenience to answer any questions, as well as provide the keys for a test drive. We are totally committed to customer satisfaction. In the meantime, please do not hesitate to contact me. I can be reached either by replying to this e-mail or by phone at 713 960-9800. Thanks for your interest. I look forward to speaking with you soon!

Subject: Email Retention Policy Body: This is a reminder of Enron's Email retention policy. The Email retention policy provides as follows: Message Location - Maximum Retention Inbox - 30 days Sent Mail Folder - 30 days Trash/Deleted Items - Rollover from Inbox for one day Folders - All Email messages placed in folders will be destroyed after one calendar year. This includes public folders in Outlook. Furthermore, it is against policy to store Email outside of your Outlook Mailbox and/or your Public Folders. Please do not copy Email onto floppy disks, zip disks, CDs or the network. Such actions are prohibited and will not be supported by the IT Department. There will be no exceptions to this policy.

Subject: Trading Track Dinner - 16th October Body: All, You are invited to attend an ENA Trading Track Dinner, Tuesday, October 16th ( location details to be confirmed ). Please RSVP your attendance. Regards,

Subject: XBOX - read the not so fine print Body: In order to save the twenty bucks, you have to purchase either ALL games or ALL accessories. As long as you plan on maxing out your controller stash on day one, or buying a couple of launch day stinkers, you'll be fine. The following games will be out on launch day: 4X4 EVO 2 AirForce Delta Storm Cel Damage Dark Summit Dead or Alive 3 Fuzion Frenzy Halo Mad Dash Racing Madden NFL 2002 NASCAR Heat 2002 NASCAR Thunder 2002 NFL Fever 2002 NHL Hitz 20-02 Oddworld: Munch's Oddysee Project Gotham Racing Shrek Test Drive Off Road - Wide Open Tony Hawk's Pro Skater 2x TransWorld Surf Halo's about the most impressive. Tony Hawk is probably good as well. I've heard disappointing things about Oddworld. I played Cel Damage: imagine Twisted Metal mixed with Whacky Races. Dark Summit will be eclipsed by SSX Tricky, when it comes out. I don't play sports games and I won't touch anything with the word "Shrek" on it. Not sure about the rest.

Subject: Overview of Investor Conference Call Body: Today, Enron hosted a conference call to give investors a current overview = of the company. Here's an update of what we discussed during the call. We told investors that we're doing everything we can to protect their inter= ests and to regain their confidence. Our focus remains on our credit qualit= y, balance sheet and liquidity, which are essential for our continued succe= ss and expansion of our wholesale businesses. It took more than a few weeks to get where we are today. Here's a snapshot = of significant events that led to our current situation:

Subject: OPS meeting Body: We have conference room 6716 from 3:00 to 4:00 each day for OPS. I have not inspected the room to see if it will accommodate our entire group. Thanks,

Subject: Help! Body: Folks, can ye guys confirm if you can attend lunch and also I still need 2 people for the office visit!. Your time is appreciated. Thx. Karen x54667.

Subject: Update: NomLogic Simulation-Noon on Wednesday Body: fyi. . .updated Simulation teams attachment. . . Good afternoon! The NomLogic Beta Program is about to begin! Since you participated in a NomLogic demonstration and a "Hands On" training course, you need to use NomLogic at YOUR desk! When: Tomorrow, Wednesday, May 30, 12:00 pm, YOUR DESK Get your lunch a little early so that we are ready to go at noon! What: Use NomLogic in the Stage environment Participate in Simulation as an Enron User Participate in Simulation as a 3rd party User See Simulation instructions attached Who: You are assigned a partner See partner list Any preparation needed? : Yes! Follow the instructions to load this file on your pc If you have any questions, concerns, or issues loading the above file, please let Molly Sumrow (3-4249) or Carrie Slagle (3-9810). Thanks,

Subject: Shipment Notification for bananarepublic.com order # 5639809 Body: Dear JASON WOLFE, Thanks for shopping bananarepublic.com. Your order 5639809 has been shipped and you will receive your package in the next 5 business days if you selected standard delivery. You will receive your package in 1 business day if you selected overnight delivery.

Subject: EnronOnline Real-Time Quotes Service on Reuters Body: REUTERS TO PROVIDE ITS CUSTOMERS WITH ENRONONLINE REAL-TIME QUOTES Effective June 4, 2001, Reuters has launched a new EnronOnline Real-Time Quotes service benefiting commodity traders and industry analysts. Subscribers to this service will be able to view bids, offers and midpoints as well as high, low and closing midpoint and change from previous day indications for numerous commodity products available on EnronOnline. Subscribers will be able to integrate EnronOnline Real-Time Quotes with Reuters' news, data and analytical tools to view real-time prices and charts as well as create option models, position reports and other analysis. Initially, the quotes will be available for power, natural gas, crude oil and refined products, metals, bandwidth, coal, seafreight, emission allowances and weather derivatives markets in North America and Europe. For more information, visit www.reuters.com/enrononlinequotes or call Reuters at 1-800-226-3955. Please forward this e-mail to others who may benefit from this service. Disclaimer All prices presented by Reuters through the EnronOnline Real-Time Quotes service shall not constitute or be deemed, for any purposes, to be an offer by EnronOnline or Enron to enter into any transaction on those or any other terms, and are not available through or deemed to be an offer within any trading products that may be offered by Reuters in association with the EnronOnline Real-Time Quotes service. Any use of the EnronOnline.com website is expressly subject to the terms and conditions contained within the EnronOnline.com website, including the registration process detailed therein. By presenting this information within the Reuters site, EnronOnline.com is not representing or indicating automatic qualification for access to or use of the EnronOnline.com website for commodity trading.

Subject: Petroleum Argus (WAFLD.htm) Body: Please respond to freetrialPetroleum Argus is offering you a FREE no-obligation trial to its leading publications (more detailed information is available in the file attached to this message: WAFLD.htm): Weekly Petroleum Argus This weekly newsletter is a senior management brief which reports the major developments in the petroleum industry, including corporate strategy and finance, geopolitical news, investment, mergers and acquisitions, oil industry trends, and Opec news. Its focus on the financial sector, the impact of mergers and energy policy, will interest the senior management of any company involved in the oil and gas industry, particularly directors, planners, analysts and strategists. For more detailed information please read the file attached to this message. Argus Global Markets Also a weekly newsletter, Argus Global Markets brings you commentary on world oil, products and gas prices. With feature articles on derivatives, arbitrage, e-trading, price distortions, forwards, futures, swaps and a world trading overview it is a 'must-read' for everyone involved in oil and gas trading. It gives traders and trading managers the big picture, the wider context, the fundamentals of the markets in which they specialise. An in-depth description of this newsletter is in the file attached to this message. Argus Fundamentals This monthly newsletter provides in-depth monthly analysis of oil supply, demand, stocks and refining. It assesses seaborne arrivals and liftings, international inventory and refining dates, demand data from the six leading economies, and estimated world production figures. It will analyse and define the key factors governing the demand for oil and how the suppliers are responding to global requirements. More details are available in the file attached to this message. To receive your FREE trial simply reply to this email completing the details below or submit your details using the form provided in the file attached to this message. You can also simply telephone our sales team on +44 (0) 20 7704 4760 and they will start your trial today. You will find our sales people professional, helpful and very friendly. Newsletter(s) required: (delete as appropriate) Weekly Petroleum Argus Argus Global Markets Argus Fundamentals Preferred method of delivery: (delete as appropriate) Email Hard Copy Details:

Subject: PORT SUMMARY Body: Attn. Jim Fernie Pls. find attached corrected port summary. The reason why lines 23,24 and 32-34 are blank is if necessary we can fill in unexpected occurrence in this lines. Brgds Oe. Hansen Master E-mail: [email protected] Teleph: Inmarsat tel.no. 330853910 Fax : Inmarsat fax no. 330853913 Telex : Inmarsat B telex no.330853915 Telex : Inmarsat C telex no.430853910 (24hrs.watch) - PORT LOG.L.C.1xls.xls

Subject: Month Belvieu Body: Paul, Miguel needs some information on Month Belvieu Price Index and Future Prices. Do you know where in the internet I could find this information? I've looked and had no luck. If you do know any address please let me know. Thank you!!! !

Subject: PREPA Weekly Fuel Inventory Report Body: Gents, today I received a call from the PREPA operations office asking me for an earlier weekly report due to the fact that this week is a short one for Government employees. I told him to go ahead and use the same SFP and that I will be back with him if this value will change after consulting with you. We need to update the inventories and excess fuel available to PREPA and send a report by tomorrow morning. Are you OK with this SFP? Dan could you let us know how much excess LNG to nominate with the understanding that the next delivery will be May 3rd? Remember that the Hilly will bring a full cargo of 122,000 metric tons, which we will not have space in the tank to take it all. If we want to change the SFP we need to talk today or early morning tomorrow. Victor

Subject: HEEL QUANTITY Body: Dear Sir's. Necessary heel quantity for next ballast leg will be 3700M3 with out any safety margins. Brgds Oe. Hansen Master E-mail: [email protected] Teleph: Inmarsat tel.no. 330853910 Fax : Inmarsat fax no. 330853913 Telex : Inmarsat B telex no.330853915 Telex : Inmarsat C telex no.430853910 (24hrs.watch)

Subject: Hoegh Galleon Position Reports and Performance Body: The above excel files are at G:Common/LNG/Hoegh Galleon. They are in a read only format for now, but can be unlocked if necessary. Let me know what you think about format, detail, etc.

Subject: Posrep 12 May Body: POSREP HOEGH GALLEON, DATE: 12-May 12:00 8:00 (UTC) A) Position at noon: N 18 40 E 058 01 B) Dist. From last noon: 453 nm C) Dist. To go to next port: 321 nm D) ETA next port: Qalhat 13 0700 LT E) 1: Average sea/wind Sea: SE 4 Wind: SE 3 2: Average speed 18.88 kn RPM: 88.7 3: BOG consumed 0 m3 4: BOG Total 0 m3 5: F.O Consumed 144 m3 6: G.O. Consumed 0 m3 Brgds Knut Bentzr?d Master LNG/C "Hoegh Galleon" E-mail: [email protected] Teleph: Inmarsat tel.no.+873 330853910 Fax : Inmarsat fax no.+873 330853913 Telex : Inmarsat B telex no.+583 330853915 Telex : Inmarsat C telex no.+583 430853910 (24hrs.watch)

Subject: Enron Organization Chart. Body: > > Dear Paul, > How are you? I hope your are doing well. Sorry to bother you again > but just for the good sake, I would appreciate if you just glance through > the attached file reg "ENRON-Org" with minor change. >

Subject: LPG Supply to Humberto Body: In order to provide Humberto the short term supply we have been talking about for a while, and to secure a 5-cent margin for Procaribe as agreed to with Mariella, we will sell him the product with the following terms: Term: 4 months @ 1MM gal/mo. Start Date: On closing of Progasco sale (June) Pricing: (depending on month of delivery) June MB + 11.25 July MB + 11.00 August MB + 12.00 September MB + 12.00 October MB + 12.00 Miguel has a model contract approved by Coralina with the rest of the standard terms. I suggest we send it to Humberto so he is ready to go by closing. JC

Subject: LNG/C"HOEGH GALLEON" - BOILER PROBLEM Body: Dan, When the superheater on stb. boiler was inspected last night, 4 tubes were found sagged and with visible cracks on. It looks like the tubes have been overheated. The tubes had to be cut and plugged, but the first attempt failed as they found some leakage in the welding on the cutted tubes end when the superheater was pressure tested and they had to reweld the tubes end once more. They are now placing some protection around the tubes end to avoid melting down the ends on the cutted tubes. The vessel is expecting to have both boiler into service within 2 hrs. We are not quite sure yet what has caused this cracks, but it looks like the tubes have been overheated, i.e rescriced flow of steam through the pipes. The boiler will be examinated and closely investigate to establish the cause of the deformation of the tubes. The tubes will also be sent to a metallurgist to get an anylyis of the material. To rectifying the superheater the following arrangements have been done: - Turbo Technik will join vsl in LC with the following personnel: * One foreman * One boiler maker * One TIG welder - N.B.Reite will attend in LC - Boiler tubes, 14 pcs in 3 m lengths and tools/equipment will be forwarded to Freeport, Bahamas. - Intend to repair super heater during passage to Algeciras/Suez - One Kongsberg technician will attend in LC for control system adjustment, if necessary. This will give the following schedule: Etd Lake Charles June 10th pm Eta Freeport June 13th pm Eta Port Said July 2nd 1800lt ( abt 13 knots) Etd Suez July 3rd 1600lt Eta Qalhat July 9th 0600lt ( abt 18,5 knots) Reverting Best regards

Subject: Increased Security at Enron Center Body: Late on October 25th, we received information about a nonspecific threat to the Enron Center. We communicated with law enforcement officials who found the threat unsubstantiated and without merit. Nonetheless we take all threats seriously and have increased the security presence at the Enron Center still further. Once again, if you observe suspicious behavior, please call security at 3-6200.

Subject: California Capacity Report for Week of 10/22-10/26 Body: Transwestern's average deliveries to California were 945 MMBtu/d (87%), with San Juan lateral throughput at 865 MMBtu/d. Total East deliveries averaged 525 MMBtu/d. El Paso's average deliveries to California were 1782 MMBtu/d (66%): - PG&ETop, capacity of 1140 MMBtu/d, deliveries of 667 MMBtu/d (59%) - SoCalEhr, capacity 1042 MMBtu/d, deliveries of 707 MMBtu/d (68%) - SoCalTop, capacity 512 MMBtu/d, deliveries of 408 MMBtu/d (80%) Friday's posted Gas Daily prices: SoCal gas, large pkgs 3.03 (+.69) PG&E, large pkgs 3.02 (+.67) TW San Juan n/a TW Permian 2.86 (+.695) Enron Online bases: Nov-Mar Apr-Oct Perm-CA .17 (+.02) .26 (+.03) SJ - CA .27 (+.03) .44 (+.03) SJ-Waha .14 (+.02) .22 (even) Perm-Waha .04 (+.01) .04 (even)

Subject: Vacation Day Body: Please be informed, I will be out on vacation this Monday, October 29. I will be available for you, however, just call me on my cell phone (713) 822-7040 or leave me a voice mail. I will log in from home and try to work from home as much as possible. Thanks and have a great weekend. adr

Subject: ETA Notice. Body: Dear Sir's. Confirm ETA Qalhat 13th. May 0900 local time. Also confirm that pipes on port side, main deck has been rebuild and there should now be free access for the shore gangway. Brgds Oe. Hansen Master E-mail: [email protected] Teleph: Inmarsat tel.no.+874 330853910 Fax : Inmarsat fax no.+874 330853913 Telex : Inmarsat B telex no.+584 330853915 Telex : Inmarsat C telex no.+584 430853910 (24hrs.watch)

Subject: FERC Limits Access to Pipeline Maps Body: Note: FYI, we may see less and less information available on federal web sites in the near term. FERC Limits Public Access to Pipe, Transmission Maps Amid concerns over potential terrorist attacks on energy facilities, the Federal Energy Regulatory Commission is limiting the public's access to maps of natural gas pipelines and electric transmission lines. In a statement of policy, the Commission said it would "no longer make available to the public" maps of these energy facilities through the Internet, the Records and Information Management System (RIMS) and the Public Reference Room at its headquarters in Washington, DC. Persons wishing to view the maps, however, can make requests under the Freedom of Information Act (FOIA) at the Commission. FERC staff has been urged to "respond timely to legitimate requests" for such documents. The Commission said the ban would remain in effect indefinitely and directed staff to report on the impact of this action on agency business within 90 days. The move by FERC was not as drastic as some federal agencies, such as the Nuclear Regulatory Commission, which closed down its entire web site last week as a precaution. Given the anthrax scares on Capitol Hill and elsewhere, a spokeswoman said the Commission also has been instructed to alert security immediately about suspicious envelopes and packages.

Subject: Electronic Pay Stubs Body: Get ready. Beginning in November, electronic pay stubs will be available to all employees who have their paychecks direct deposited into their bank account. Electronic pay stubs are an easy, fast, and efficient way for you to get your payroll information. They will also help Enron to realize a considerable savings in time and dollars spent over traditional printed pay stubs. If you prefer to receive a hardcopy of your pay stub, click on the link below to complete a request form. This form must be submitted to Payroll by October 15, 2001. Unless you submit a form your pay stub information will default to electronic viewing. Please click on the link below.

Subject: Enron Update Body: This has been a tough couple of weeks. I hope that these daily communications on new developments are helping you understand what's happening with our company. Here's a rundown of events from last week: We executed a commitment letter with JPMorgan and Salomon Smith Barney that will provide us with additional secured credit lines worth $1 billion. Our Northern Natural Gas Company and Transwestern Pipeline Company will support these assets. We now have received a total of $4 billion in credit lines, which we will use to pay off short-term commercial debt and maintain liquidity. Our Board of Directors elected a new member to the Board - William Powers, Jr., the dean of The University of Texas School of Law in Austin, Texas. - The Board also established a Special Committee, to be chaired by Dean Powers, that will conduct an in-depth review of the transactions between Enron and entities connected to related parties. The committee is authorized to take any actions it deems appropriate. The Securities & Exchange Commission (SEC) opened up a formal investigation into related party transactions that have been the subject of media reports and the subject of the SEC's formal inquiry. As I've said before, we welcome this and look forward to working with the SEC to put this matter behind us. Moody's lowered our credit rating one level, from Baa1 to Baa2. Standard & Poor's (S&P) lowered our credit rating one level, from BBB+ to BBB. Fitch lowered our rating from BBB+ to BBB-. All agency ratings are investment grade. Even with what's happening with our company, we have kept running our business as usual, and here's few examples to show you that we are, indeed, doing just that: EnronOnline did 5,866 transactions with 302 counterparties on Friday. Transaction counts remain higher than average. EES signed a three-year fixed price agreement with Home Depot to supply power to 115 of its stores in California and 68 stores across Texas. EES also has exclusive rights to develop energy management proposals for all Home Depot facilities west of the Mississippi. EES also signed a three-year energy management agreement with Memorial Sloan-Kettering Cancer Center's four New York City facilities. Serious issues have been raised in the media and investment community that have put our credibility and reputation as a company in question. We're taking an introspective look at our business dealings, our core values and our organization as a whole. We're doing everything we can to deal with the issues that are affecting our company. And that's where you come in. Look around you. Look at the excellence that you and your team represents. That's the reason we hired you - you're the best. Now, more than ever, work for Enron and especially for each other. Thank you for your continuing support of our company and each other.

Subject: Year End Accomplishments Body: It is that time of year.... Please complete your list of accomplishments by the end of November. Also, please complete your 2002 Objectives by December 14. Your objectives will need to outline your specific marketing plan for each customer, project and idea you may have for adding/increasing value to Transwestern in 2002. As discussed earlier, we will get together in mid-December to review account loads to see if we need to do any shifting. Your 2002 Objectives will be helpful in determining whether your load is heavy, light or just right. I will be happy to visit with each of you individually if you have any questions or would like to discuss these items. :>) Thanks,

Subject: LNG/C "HOEGH GALLEON" - REPAIRS OFF ALGECIRAS Body: Dan, Ref. is made to yr e-mail today 30th re ETA Oman. Have just received following from the Superintendent, Nils Reite: ++ Just to give you a brief update on the progressing repair work at the sunny Algeciras roads. - External assistance team: * One service engineer from Turbo Technik for the manoeuvre valve * Two technicians from NorPol Marine Service to assist above * Three pipe fitters from NorPol Marine Services to assist the Ch.eng. - All repair work progressing nicely. As for the ahead steam control valve we have found an external linkage shaft to be the reason for the problem. This is now being extracted and will be polished and refitted. - We are aiming for completion on 2001-05-01 late evening and sailing on 2001-05-02 early morning. brgds/NBR ++ This was good news and it seems that we can follow our schedule. Will revert tomorrow with an update. Best regards

Subject: PG&E Gas Transmission Puts New Lliine in Service and Files for 2003 Expansion Body: Note: This quick expansion was the result of FERC's expedited permitting process. Lorna PG&E Gas Transmission Puts New Line in Service, Files 2003 Expansion PG&E Gas Transmission Northwest (GTN) already has started deliveries through a 21-mile section of its 2002 mainline expansion project, and is making significant progress on proposed future expansions. The new 21-mile pipe section put into service last Friday increases the company's ability to deliver natural gas to western markets by 42,000 Dth/d a year earlier than expected and in time for the 2001 winter heating season. "We applaud the efforts of the Federal Energy Regulatory Commission to expedite the permitting process so that some of this new capacity could be in service before the winter heating season," said Thomas B. King, president and COO of PG&E National Energy Group's West Region, which includes subsidiary GTN. The new 42-inch pipe is in Spokane County, WA, and Kootenai County, ID, and represents the first installation of a third pipe, known as the C line, in GTN's mainline right of way. The new pipe became operational last Friday. GTN's 2002 Expansion Project also will include new 19,500 hp compressor units at five existing stations on the GTN mainline, which will increases its capacity by 220,000 Dth/d, mainly to serve power generation projects planned by Newport Northwest LLC and Calpine. Newport is developing a 1,300 MW generating plant near Wallula, WA, and two plants of similar size at other locations in the Pacific Northwest. Calpine has several generating projects in construction or development in the Pacific Northwest and California. GTN also has filed with FERC for a certificate to build a second expansion for service commencing in the fall of 2003. The proposed 2003 expansion project would add another 143,000 Dth/d beginning in the fall of 2003, plus an additional 20,000 Dth/d of winter-only service. The 2003 expansion project calls for an additional 53 miles of new C line pipe, plus the installation of one 19,500 hp compressor unit on the mainline system. Combined, the 2002 and 2003 expansion projects would put the total GTN capacity at nearly 3,100,000 Dth/d. "The 2002 and 2003 expansion projects will provide much-needed natural gas transmission capacity to supply electric generation projects already in construction or advanced development in California and the Pacific Northwest," King said. In addition, GTN is exploring the possibility of building a pipeline lateral from its mainline system near Spokane, WA, to the Interstate 5 corridor near Seattle/Tacoma. The company has been in discussions with potential shippers about the Washington lateral project since an open season was completed in June 2001. "There is clearly market interest in this project," King said. "We have successfully completed much of the initial feasibility studies for the Washington lateral project and are ready to move to development when the market indicates it is ready." The GTN system went into service on Dec. 2, 1961, with initial capacity of 580,000 Dth/d. The original system, inaugurated as Pacific Gas Transmission Co., consisted of one 36-inch pipe, the A line. The mainline system grew over the last four decades, first through the addition of a second pipe, the B line, measuring 42-inches, and now with the beginning of the C line. The system includes 1,356 miles of pipeline along a 612-mile route which begins at the Idaho/British Columbia border, traversing through northern Idaho, southeastern Washington and central Oregon, and terminates at the Oregon/California border, where it interconnects with the Pacific Gas and Electric Co. pipeline system and Tuscarora Gas Transmission.

Subject: Program Changes Body: As you know, this is an unprecedented time in Enron's history. We must adapt our employee programs to fit the immediate needs of our company during this time of transition. It is especially difficult to announce the immediate suspension of the following programs. ? ClickAtHome - Enron has suspended the ClickAtHome program. The program will no longer accept new participants, PC orders, or Internet service orders. Orders submitted and confirmed prior to November 20, 2001 will be honored. Enron will also discontinue subsidized Internet service. Effective January 1, 2002, employees who are currently subscribers to subsidized Internet service will be switched to the regular commercial rate of their service provider and be responsible for the entire cost of the service. ? Matching Gifts and Volunteer Incentive Program (VIP) - Enron's Matching Gift program and VIP grants have been suspended indefinitely. As we consider the immediate needs of all employees during this trying time, it is appropriate that we discontinue the dollar for dollar match for charitable contributions as well as cash donations recognizing employees' volunteer hours with non-profit organizations. Matching Gift or VIP submissions received prior to November 20 will be honored. We regret that we have had to make these changes. We must continue to look for ways to reduce operating expenses through this transition period.

Subject: LNG/C "HOEGH GALLEON" - MAINTENACE STOP IN ALGECIRAS Body: Dan, Have just been in a meeting with our technical people regarding the sticky steam maneuvre control valve, those steamleakages in the boiler and cleaning the flame arrestores in gas supply line. We are sorry to say that the vessel need abt 48 hrs to carry out the necessary work on the steam plant in order to minimize the steam leakage and having service on the steam maneuvre control valve. As you know, we need some hrs to cool down the boilers/steam valve/pipes before it is possible to open and to work with, after both boilers are been shut down. To cooldown the steam plant take abt 10-12 hrs and to bring the plant into service again can take abt 6 hrs, so that means that we need 48 hrs, as mentioned above, to get our maintenace plan carried out. According to the obervations done, last on the stopp last night, were the valve operated without any problems, we believe that the valve can be fixed without totaly dismantling. On the other hand,if the valve has to be completely dismanteled, the work can take more than the expected 2 days. We believe that the chance of this situation is slim. Our schedule are: Eta Algeciras 30/4 0500 Etd Algeciras 2/5 0900 Eta Port Said 6/5 1830 Etd Suez 7/5 1700 Eta Qalhat 13/5 0900 Etd Qalhat 14/5 2400 Kindly advice if this can be worked out. Best regards

Subject: DAILY POS. REPORT Body: POSREP HOEGH GALLEON 24TH. APRIL 1200LT (1400UTC) A) Position at noon : N 30 36 W 054 38 B) Dist. from last noon : 413 n. miles (23 HRS. )(1 HRS. ADV) C) Dist. to go to next port: 6894,5 n.miles (Qalhat) D) Eta next port : May 12th. 0001 local time E) 1:Average sea/weather : Wind: ESE 5, Sea: ESE 4 2:Average speed : 17,96 knots / average RPM 93,46 3:B.O.G. consumed : nil 4:F.O. consumed : 143 mt. 5:G.O. consumed : nil 6:Average vapor press. Tk. 1: bar. Average liq. temp: Tk. 2: : Tk. 3: : Tk. 4: : Tk. 5: : ETA Algeciras 30th. 0500lt. Brgds Oe. Hansen Master E-mail: [email protected] Teleph: Inmarsat tel.no.+874 330853910 Fax : Inmarsat fax no.+874 330853913 Telex : Inmarsat B telex no.+584 330853915 Telex : Inmarsat C telex no.+584 430853910 (24hrs.watch)

Subject: EcoElectrica LNG Cargo in January 2002 Body: Based on today's closing NYMEX prices there is $1.9 MM of price difference between EcoElectrica's 2002 Winter Cargo Commodity Charge plus Commodity Surcharge and the delivered cost of 83,000 CBM of LNG. That is $5.61 vs $4.61. This assumes we pay a day rate of $50,000/day for the vessel, Jan '02 NYMEX is $5.41, and the FOB price for LNG is $2.66. Let's stay in touch about the possibilty of landing a spot cargo into Puerto Rico in January. As we discussed, how we play this with Cabot is a big issue. There could be an additional $4.7 MM of value that could be captured by Eco if Cabot were unable to release its right to not deliver a Winter Cargo. Also, let's continue to think about how we make the logistics work and how we can get Cabot's cooperation if needed. Also, note that Eco may need 2 cargoes of this size to make it until the Early Spring Cargo. Paul

Subject: Yo Body: How's it going? Any thoughts on the AGA number? We think it is a bunch of BS although all the entries I saw on the Fundamentals Message Board about people selling storage gas give one pause. HOw are things going on the flying front? I took my brother-in-law up last night and thankfully managed two good landings. MJ

Subject: We contacted the offender Body: Andy, We pulled the log ... found the guy ... and told him to knock it off. Please let me know if there is a repeat performance. Best regards, Jeff

Subject: insurance Body: I need a copy of your insurance before the flight on 11/25. Our records show your insurance expired on 10/4/2001 I have to have your insurance on file before your flight. thank you

Subject: Reminder: Risk Management Simulation Questions Body: Hi Andy, Thank you for briefly meeting with me on November 15th to discuss the questions we were looking for on the Swaps topic for Crack Spread, BTU and Spark Spread. Per our conversation, you stated that you wanted to go away to work on these practice questions for Crack Spread, BTU and Spark Spread. As you know, we were hoping to receive some of your questions this week. Do you have any idea when you will be able to send them to us or meet with us to help drive these questions out. Let me know if you have any questions! Thanks,

Subject: ICE Body: Andy, Stephanie Sever has contacted ICE and has requested forms. We can expect them soon. Kevin has already given me his list of who will get access to ICE. Send me a list when you know who should get access.

Subject: Non-Exempt Scorecard Body: The following was developed in an effort to assist with your evaluation of Non-Exempt employees. Please let me know if you have any additional questions. Thanks,