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----Original Message Follows---- From: Moni_Nejati@mail.bankone.com To: celsasser@integrity.tamu.edu, pzurawski@integrity.tamu.edu, sferrarini@equiva.com, mballases@hotmail.com, ADVE@dynegy.com, kelly_malik@texanscu.org, michelle_cruz@mail.bankone.com, joishi@integrity.tamu.edu, robert.j.long@americas.bnpparibas.com, Jana.Beddingfield@bakerbotts.com, Allan.Meesey@bakerbotts.com, Karen_A_Bargainer@mail.bankone.com, Geri_E_Landa@mail.bankone.com, s.nejati@ssss.com, Mariola.Molina@ey.com, scollins@integrity.tamu.edu, cgcagle@equiva.com Subject: Very interesting Date: Thu, 2 Nov 2000 13:37:10 -0600 ---------------------- Forwarded by Moni Nejati/TX/ONE on 11/02/2000 01:45 PM --------------------------- Matt A Baker 11/02/2000 01:12 PM To: Moni Nejati/TX/ONE@BANCONE, Clay Aderholt/TX/ONE@BANCONE, Brian.livingston@compassbank.com, Thomas M Hiddemen/NY/ONE@CDN cc: Subject: Very interesting Once upon a midnight dreary While the Crew rested, victorious and weary There came a tapping, as of someone gently rapping Rapping at Kyle Field's door. "T'is a Heisman hopeful," Hankwitz muttered. Tapping at Kyle Field's door. -Only Josh Heupel and nothing more. Distinctly I remember, 1990 in December Another Heisman hopeful for the Crew to dismember. A crying Detmer mother in the stands; ESPN and many Aggie fans Two dislocated shoulders and a 65-14 bore Still the most bowl points a team could score. -Twas Ty Detmer and nothing more. The media marvelled at a man named Bo #16 ranked Auburn's Heisman bro. In the Cotton Bowl the Crew stood tall 4 downs later it was the Aggies' ball. A goal line stand for the world to adore A Jackie(S.) coming-out party as the Aggies roar. -Twas Bo Jackson and nothing more. Then Mr. Brown came beguiling With many Irish eyes a-smiling. His Heisman trophy aloft in the air, As was his towel after an Aggie dare. A 35-10 victory on the Cotton Bowl floor And Wrecking Crew dominance for many years more. -Twas Tim Brown and nothing more. Then came Houston's QB Ware Running and shooting thru humid air. He won the Heisman while at Cougar High, But the Crew took off his helmet and made him cry. Another conference championship in Aggie lore And another Heisman winner shown the door. -Twas Andre Ware and nothing more. To Kyle Field comes a Sooner Nation With a Big 12 South ring and national championship expectation. Last year's loss the Wrecking Crew must avenge And the Aggie offense must prepare for revenge. Will Heupel audible without chore? Will #1 OU have a Heisman in store? -Quoth the 12th Man.... "Nevermore." _________________________________________________________________________ Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com. Share information about yourself, create your own public profile at http://profiles.msn.com.

Hi, Sean! Here is the identifying data for the personal financial planner we discussed at our meeting yesterday: Mark Martel First Pacific Associates 7720 NE Vancouver Mall Drive, Suite 100 Vancouver WA 98662 Portland telephone: 503-239-1505 Other office personnel: Heidi Powell, Phaedra Stahlman. (I don't have his e-mail address or fax number). Sean, I enjoyed meeting you yesterday and look forward to reviewing your week-end tax calculations. Warm regards, Sarah C. Harlan, CPA 1131 Larch Street Lake Oswego OR 97034 Telephone: 503-636-4977 Fax: 503-636-4978 e-mail: sarahharlan@qwest.net

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/21/2000 05:46 PM --------------------------- Stinson Gibner 12/21/2000 10:28 AM To: John J Lavorato/Corp/Enron@Enron cc: Vince J Kaminski/HOU/ECT@ECT, Zimin Lu/HOU/ECT@ECT Subject: 2nd last day simulations John, In general, results are not too different from last day roll. For "no roll" and "roll same position" strategies, the 2nd last day seems to outperform slightly more often. Let me know if you would like to 1) look at quarter to quarter earning volatility of these strategies or 2) look at effect of incorporating some transaction costs for rolling/liquidating positions. --Stinson Normal Roll No Roll Fill Gap

Dear CompareRite Users: For your attention ENA Legal has purchase 40 standalone licenses of CompareRite 5.1 version for ENA Legal exclusive usage in 9/1997. We have exceeded the 40 seats and the software is out of date. We violated the agreement by accessing it through our LAN. To upgrade to 7.1 version, I would like to get an Enron site license for LAN access to accommodate all Enron users including ENA Legal. Network version of CompareRite is $132 per ID first year and 15% of $132 for annual maintenance. I try to keep # of users to its minimum so I can afford to pay the license from Legal Library budget. Please respond to my email if you wish to have your name REMOVED from the CompareRite User List by Friday, 4/7. I would like to have the new license agreement signed based on a final head count soon. Nony: Would you notify Terri Bachand and Frank Cascio? I could not find them on Lotus Notes mail. Thanks, Sylvia Hu Corportate and Law Information Services x36775

For those of you interested in obtaining tickets for opening night (tonight!) at PGE Park, please e-mail me by 3 PM today. Who: Portland Beavers vs. Fresno Grizzlies When: 6:30 PM, Tonight! Where: PGE Park (formerly Civic Stadium) Two tickets per employee - first come, first served. Please e-mail me to indicate interest. Thanks! Anna

Ken Raisler will be here on Monday, May 21 to conduct several training sessions for the weather and steel trading desks. If you can work it into your schedule, please try and attend one or more of these sessions. Brent will have further scheduling details. Mark

how about today (Thurs) 3pm we can find a conference room

Start Date: 1/9/02; HourAhead hour: 22; No ancillary schedules awarded. No variances detected. LOG MESSAGES: PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002010922.txt

Sally: Long time no see. Wanted to congratulate you on your recent promotion. Way to go. Richard Weeks ENRON BROADBAND SERVICES PURCHASING PROCESSING MANAGER OFFICE:713-853-6995 CELL:713-516-2581 EMAIL:RICHARD_WEEKS@ENRON.NET

Pat- Sorry about that there was a configuration error. It has been fixed. Replies now only go to the original sender not the entire list. At 06:47 PM 10/24/01 -0500, you wrote: >David, I am receiving everyone's response to you. Is there some way to >delete my email address from the response list? >P. Lawrence >-----Original Message----- >From: David Kilgore <kilgore@RICE.EDU> >To: JGSFAC@listserv.rice.edu <JGSFAC@listserv.rice.edu> >Date: Wednesday, October 24, 2001 5:21 PM >Subject: [JGSFAC] SAS and SPSS Renewals > > > >I need to coordinate our order for SAS and SPSS both renewals and new > >orders. These are on a university license and each one costs about $80 per > >license. The charge will be passed on to your research account. > > > >Those of you with existing SAS installations, your version will keep > >working until December. At that time it will stop working unless renewed. > > > >SPSS is coming out with a version 11 and I have asked Mudd to let me know > >when that is available. > > > >If you 1) need either of these packages now for a fresh installation or 2) > >plan on renewing the software that you currently have installed, please let > >me know. > >------------------ > >David Kilgore Jones Graduate School - Rice University > >kilgore@rice.edu 6100 S. Main - MS 531 > >713-348-5378 Houston, TX 77005 ------------------ David Kilgore Jones Graduate School - Rice University kilgore@rice.edu 6100 S. Main - MS 531 713-348-5378 Houston, TX 77005

Jeff: Here is what I have on the form of financial GTC Carol St. Clair EB 3892 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com

6 months severence minus any errors Jennifer Shipos 10/20/2000 03:22 PM To: John Arnold/HOU/ECT@ECT cc: Subject: How about 6 months severance? Do you think you can work that out for me?

ABX1 60 (Hertzberg) was just scheduled for hearing this afternoon in the Assembly Energy, Costs and Availability Committee. In brief, the bill does the following: Require, as a condition of certification by the CEC, that an applicant offer to sell to an electrical corporation, a municipal corporation, or the Department of Water Resources, at a just and reasonable cost base price electrical power generated by the facility. This bill would also prohibit a person or entity, as defined, from operating an electrical generation facility unless the person or entity has submitted to the commission, within the time prescribed by regulations adopted by the commission, a maintenance and outage schedule, and the commission has approved that schedule. http://info.sen.ca.gov/pub/bill/asm/ab_0051-0100/abx1_60_bill_20010216_introdu ced.pdf

Dear Enron Employee: Houston Ballet is presenting The Nutcracker through Sunday, December 30. The production has been hailed by the Houston chronicle as "the crown jewel of holiday entertainment," and is a perfect introduction to the world of ballet for families and audiences of all ages. Enron has been a long-time supporter of the Ballet, and we would like to thank you with a special invitation from Houston Ballet and TicketMaster for discount tickets to The Nutcracker. Click on the following links below to receive a 25% discount on tickets to any of the selected performances of The Nutcracker. To place your order, click on the link below to choose your day and time. When requesting your tickets, you may choose from best available seats or a specific section, however, all ticket prices may not be available. Ticketmaster service and handling charges will apply to your order. Your company code is: NUT1. Happy Holidays and enjoy Houston Ballet. Performance Dates and Times: Wednesday, December 26 at 7:30pm https://ticketing.ticketmaster.com/cgi/purchasePage.asp?event_id=C003345C3DE86FB&event_code=EHL1226 Thursday, December 27 at 7:30pm https://ticketing.ticketmaster.com/cgi/purchasePage.asp?event_id=C003345D10FB243&event_code=EHL1227 Saturday, December 29 at 2:00pm https://ticketing.ticketmaster.com/cgi/purchasePage.asp?event_id=C003345CDB2A7A1&event_code=EHL1229M Sunday, December 30 at 2:00pm https://ticketing.ticketmaster.com/cgi/purchasePage.asp?event_id=C003345CDDBA7F9&event_code=EHL1230M

missing 2 deals trader? buying constellation 117.50 25 mw dec mid c on peak trader buying constellation 84.00 25 mw Q1 np-15 on peak

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/13/2000 05:09 PM --------------------------- Office of the Chairman From: Office of the Chairman@ENRON on 10/05/2000 07:55 AM To: ClickatHome mailout cc: Subject: A Computer and Internet Connection for You and Your Family As you know, technology is critical to Enron; it drives our success and will continue to do so in the future. Technology has helped Enron create new businesses like Enron Broadband Services and Enron Net Works, and it is responsible for applications such as EnronOnline and EnronCredit.com. You
,ve seen what technology can do at work. Now we want you and your family to realize its benefits at home. With that in mind, we are excited to let you know that we are introducing the ClickAtHome program, which will give each employee a computer for use at home. Where technology permits, we will also subsidize an Internet connection. With the click of a mouse, a home computer plus Internet access will put a world of Internet knowledge at your family
,s fingertips. We have just signed an agreement with Dell Computer Corporation to provide the computer hardware. We wanted to let you know about the program now in case you and your family were considering the purchase or upgrade of a home computer or Internet connection in the next few months. The scope of ClickAtHome includes the following: ? Basic package: Dell desktop computer with a high-speed processor, floppy disk drive, mouse, speakers, monitor, modem, CD-ROM drive and Windows 2000 software. Employees will have the option to receive a subsidized Internet connection, including broadband, where commercially available. ? Participation: This program will be available to active regular full-time and regular part-time employees of Enron and its wholly owned subsidiaries; however, employees of some Enron companies (Portland General Electric, EOTT, Enron Facility Services) may not be able to participate due to legal, accounting, tax, labor or business reasons. Eligibility includes being employed at the time of implementation. ? Timing: U.S. employee sign-up will begin in early 2001, with delivery of the equipment and Internet connection to follow shortly thereafter. Delivery of equipment to participating non-U.S. employees is targeted for late 2001. Details about this program are still being finalized. To address some of your initial questions, we
,ve posted a question-and-answer document on http://clickathome.enron.com. We will schedule an eSpeak session in the near future where you will have an opportunity to ask questions. Or, you can submit your questions and comments to ClickAtHome@enron.com. We are excited to extend our investment in technology to you and your family. We believe this program takes communication at Enron to a new level by creating endless possibilities for you to experience and participate in the broadband Internet revolution. It is just another reason why we believe Enron is a great place to work.

Please find attached for your review revised documents (and one new document) for the Enovate loan, incorporating the terms of our discussion on Wednesday. Attached are: 1. Closing Documents List (which will double as Exhibit A to the Credit Agreement -- these are the items which must be delivered as a condition precedent to Enron's obligation to make any advances under the Credit Agreement); 2. Credit Agreement (clean and black lined copy); and 3. Promissory Note. I have pared down the covenants as we discussed, reflecting that it is expected that EMW will remain the managing member of Enovate, and you do not wish to impose burdensome obligations on EMW. In addition, as we discussed, I have modified Section 7.3 to place limitations on Enron's ability to amend certain material portions of the Credit Agreement, since the Peoples agreement will contain a mirror provision. Please confirm that the limitations I included are acceptable. Finally, please note that Section 7.5 currently places no limitations on Enron's ability to assign its rights and obligations under the Credit Agreement, which means that Peoples will also be able to assign freely. Do you wish to place limitations on the lenders' right to assign? I don't seem to have Sarah's e-mail address, so please forward this to her as well. Please call me at 713.221.1419 regarding the foregoing. Regards, Heather - Checklist.doc - CreditAgmt(blackline).rtf - CreditAgmt.doc - Note.doc

David I will seek this opinion from PWC and will have then respond both to Susan and I. Heidi David Minns 23/05/2000 13:44 To: David Forster@ECT cc: Mark Taylor@ECT, Paul Simons@ECT, Edmund Cooper@ECT, Heidi Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Susan Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paul Smith/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Raymond Yeow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Christian Werner/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: AUSTRALIAN WEATHER DOCUMENTATION. Dave, attached is our settled form of product description and GTC we have prepared for a HDD Australian weather swap. The GTC has been prepared on the basis that the GTCs will apply even in instances where there is a Master Agreement with the counterparty. Susan/Heidi - I would also like a specific sign off from someone (presumably Price WaterhouseCoopers) that the input tax status of commodity derivatives (as outlined in the Australian Tax Office Consultation Paper on the application of GST to financial services) will extend to weather derivatives. We are preparing similar documentation for the following, HDD swap, HDD Call Option, HDD Put Option, CDD Swap, CDD Call Option and CDD Put Option. Interested in any feedback.

FYI -----Original Message----- From: "Samantha Smith" <samantha_smith@transcanada.com>@ENRON Sent: Monday, October 22, 2001 4:41 PM To: Armstrong, Julie Subject: Re: Oct 23 Teleconference - Your Availability ? Hi Julie. I've just sent out the confirmation and dialing instructions for tomorrow's call. Dennis is aware that Danny can participate for a brief 15 min. and that Eric will cover. Thanks for your response. If Danny feels the need to touch base with Dennis separately, let me know and we'll find time. Julie.Armstrong@enron.com wrote: > Samantha: > Danny has a business meeting at 5:30 and would only be able to participate > for 15 minutes. Eric Gadd will participate. Thanks. > > -----Original Message----- > From: "Samantha Smith" <samantha_smith@transcanada.com>@ENRON > Sent: Friday, October 19, 2001 3:47 PM > To: McCarty, Danny; Gadd, Eric; Holm Jay; Reese Brad D.; King Tom; > Moore James C. (Jim); Carlton Cavan; Hulse Darcel; Stewart D. > Michael G.; Birch Murray; Moffatt J. Curtis; Roberts Tom; > francine.amaral@neg.pge.com > Cc: Armstrong, Julie; Wadle, Susan; angelina.vitela@elpaso.com; > ann.e.robinson@williams.com; anita.l.brown@williams.com; > jharris@sempra.com; Tang Mary; Woodhouse Chris; cmr@vnf.com; > mgstark@duke-energy.com > Subject: Oct 23 Teleconference - Your Availability ? > > Gentlemen, > Dennis McConaghy has requested another teleconference with all of you. > The call has been tentatively scheduled for (3:00 p.m. Pacific, 5:00 > p.m Central, 6:00 p.m. Eastern) If this time does not work for you, > we could look at moving the call to later that evening. > Please contact me regarding your availability. > Thanks. > > Samantha Smith 403-920-2017 > - samantha_smith.vcf << File: samantha_smith.vcf >> > > ********************************************************************** > This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you. > ********************************************************************** - samantha_smith.vcf

Additional agenda item for discussion this afternoon: Opportunity to comment in EL00-95-20 on the issue of emergency relief for QF's, and the possibility they may go off line. A short blurb on the issue follows. Ray Ridgewood Power submitted a Request for Emergency Relief and an Updated Request for Emergency Relief requesting the Commission to take action to prevent QF capacity from going off- line in the State of California. Ridgewood asks the Commission to take actions that will permit those QFs in California that have not been paid fully for past power deliveries to enter arrangements to temporarily sell to third-party buyers within California. Ridgewood asks the Commission to declare that California electric utilities cannot deny transmission access to QFs or otherwise frustrate the ability of QFs to sell to third-party purchasers. The California Cogeneration Council filed a Motion for Emergency Relief requesting the Commission to take action to prevent QFs from going off-line in California. The Cogeneration Council requests the Commission to require interconnection, transmission, and related services under section 210(d) of the Federal Power Act on a temporary basis pending the resolution of accounts receivable issues. The Commission is also instituting a proceeding in which it will consider whether and to what extent it may need to order the provision of interconnection, transmission, and related services under Section 210(d) to alleviate generation capacity supply shortages in California. Ray Alvarez 05/02/2001 06:40 PM To: Steve Walton/HOU/ECT@ECT, Susan J Mara/NA/Enron@ENRON, Alan Comnes/PDX/ECT@ECT, Leslie Lawner/NA/Enron@Enron, Rebecca W Cantrell/HOU/ECT@ECT, Donna Fulton/Corp/Enron@ENRON, Jeff Dasovich/NA/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron, jalexander@gibbs-bruns.com, Phillip K Allen/HOU/ECT@ECT cc: Linda J Noske/HOU/ECT@ECT Subject: Re: Western Wholesale Activities - Gas & Power Conf. Call Privileged & Confidential Communication Attorney-Client Communication and Attorney Work Product Privileges Asserted Date: Every Thursday Time: 1:00 pm Pacific, 3:00 pm Central, and 4:00 pm Eastern time, Number: 1-888-271-0949, Host Code: 661877, (for Jim only), Participant Code: 936022, (for everyone else), Attached is the table of the on-going FERC issues and proceedings updated for use on tomorrow's conference call. It is available to all team members on the O drive. Please feel free to revise/add to/ update this table as appropriate. Proposed agenda for tomorrow: Power- Discussion of FERC market monitoring and mitigation order in EL00-95-12 and review of upcoming filings Gas- Response to subpoenas of SoCal Edison in RP00-241 and upcoming items Misc. I will be unable to participate in the call tomorrow as I will be attending the Senate Energy and Resource Committee Hearing on the elements of the FERC market monitoring and mitigation order.

New time for tomorrow only! REMINDER -- The EGM Org. Post Petition Meeting will be held on Wednesday, February 6 at 9:00 am in conf. room ECN 30C1. Please plan to attend or use the dial-in number shown below: Domestic Callers Dial 1-877-987-1409 Operator will assist with the call Leaders Name: Gary Hickerson Pass Code: Gary International Participants Dial 001-610-769-3343 Operator will assist with the call Leaders Name: Gary Hickerson Pass Code: Gary LONDON EMPLOYEES ONLY: Please meet in conference room SE1002 (tele# 011-44-207-783-0113) and dial into the meeting using the number above. If you have any questions, please call Kathy Tibbs in London on ext. 5479. Thank you. Judy Zoch Enron Global Markets LLC Financial Trading 1400 Smith Houston, TX 77002 (713) 853-0655 email: judy.zoch@enron.com

<<HBTX01_.doc>> I would like to file this as soon as possible, but would appreciate your taking a look at it to make sure we captured all the changes. Thanks. - HBTX01_.doc

Dear Mr. TenHave, We are in receipt of the above referenced letter addressed to Mr. Jeff Skilling. At this time, Enron has no interest in investing in prime timber/woodlands. We do, however, thank you for the opportunity and wish you success in this endeavor. Regards, Sherri Sera Assistant to Jeff Skilling 713.853.5984 713.646.8381 (fax) sherri.sera@enron.com

Daren, I found a mispelling on the resume I sent you earlier. Here is a revised version. Thanks, Chris H. ______________________________________________________ Get Your Private, Free Email at http://www.hotmail.com - Chris Hose Management Resume.doc

I have received my WorldCom calling card. Mark Taylor Vice President and General Counsel Enron Wholesale Services 1400 Smith Street - EB3892 Houston, Texas 77008 (713)853-7459 (713)646-3490 (fax)

----- Forwarded by Jeff Dasovich/NA/Enron on 11/15/2000 04:09 PM ----- Ginger Dernehl 11/10/2000 03:38 PM To: Mark Palmer/Corp/Enron@ENRON, Eric Thode/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Peggy Mahoney/HOU/EES@EES, Alan Comnes/PDX/ECT@ECT, Aleck Dadson/TOR/ECT@ECT, Allison Navin/Corp/Enron@ENRON, Amy Fabian/Corp/Enron@ENRON, Barbara A Hueter/NA/Enron@Enron, Bernadette Hawkins/Corp/Enron@ENRON, Bill Moore/NA/Enron@Enron, Carolyn Cooney/Corp/Enron@ENRON, Charles Yeung/HOU/ECT@ECT, Chauncey Hood/NA/Enron@ENRON, Chris Long/Corp/Enron@ENRON, Christi L Nicolay/HOU/ECT@ECT, Cynthia Sandherr/Corp/Enron@ENRON, Damon Harvey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Dan Staines/HOU/ECT@ECT, Daniel Allegretti/NA/Enron@Enron, Dave Mangskau/Corp/Enron@ENRON, Donald Lassere/NA/Enron@Enron, Elizabeth Linnell/NA/Enron@Enron, Frank Rishe/NA/Enron@Enron, Geriann Warner/NA/Enron@Enron, Ginger Dernehl/NA/Enron@Enron, Gloria Ogenyi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Harry Kingerski/NA/Enron@Enron, Howard Fromer/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Janine Migden/NA/Enron@Enron, Jean R Dressler/NA/Enron@Enron, Jeff Brown/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, Jeffrey Keeler/Corp/Enron@ENRON, Joe Allen/NA/Enron@Enron, Joe Connor/NA/Enron@Enron, Joe Hartsoe/Corp/Enron@ENRON, Joe Hillings/Corp/Enron@ENRON, Joseph Alamo/NA/Enron@Enron, Kathleen Sullivan/NA/Enron@ENRON, Kathy Mongeon/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kerry Stroup/NA/Enron@Enron, Kirsten Bellas/NA/Enron@Enron, Lara Leibman/NA/Enron@Enron, Laurie Knight/NA/Enron@Enron, Leslie Lawner/NA/Enron@Enron, Linda J Noske/HOU/ECT@ECT, Linda Robertson/NA/Enron@ENRON, Linda Robertson/NA/Enron@ENRON, Lindsay Meade/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lisa Yoho/HOU/EES@EES, Lora Sullivan/Corp/Enron@ENRON, Lysa Akin/PDX/ECT@ECT, Marchris Robinson/NA/Enron@Enron, Marcia A Linton/NA/Enron@Enron, Marcie Milner/Corp/Enron@ENRON, Mary Hain/HOU/ECT@ECT, Maureen McVicker/NA/Enron@Enron, Mona L Petrochko/NA/Enron@Enron, Nancy Hetrick/NA/Enron@Enron, Patrick Keene/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT, Richard Ingersoll/HOU/ECT@ECT, Richard Shapiro/NA/Enron@Enron, Robert Frank/NA/Enron@Enron, Robert Hemstock/CAL/ECT@ECT, Robert Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robin Kittel/NA/Enron@Enron, Ron McNamara/NA/Enron@Enron, Roy Boston/HOU/EES@EES, Rubena Buerger/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandra McCubbin/NA/Enron@Enron, Sarah Novosel/Corp/Enron@ENRON, Scott Bolton/Enron Communications@Enron Communications, Stephen D Burns/Corp/Enron@ENRON, Steve Montovano/NA/Enron@Enron, Steve Walton/HOU/ECT@ECT, Steven J Kean/NA/Enron@Enron, Sue Nord/NA/Enron@Enron, Susan J Mara/SFO/EES@EES, Susan M Landwehr/NA/Enron@Enron, Terri Miller/HOU/EES@EES, Thane Twiggs/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tom Briggs/NA/Enron@Enron, Tom Chapman/HOU/ECT@ECT, Tom Delaney/Corp/Enron@ENRON, Tom Hoatson/NA/Enron@Enron, Tracy Cooper/Enron Communications@Enron Communications, Vinio Floris/Corp/Enron@Enron, Xi Xi/Enron Communications@Enron Communications cc: Subject: FERC Staff Investigations on Midwest and Southeast Bulk Power Systems Christi L Nicolay@ECT 11/10/2000 03:22 PM To: Ginger Dernehl/NA/Enron@Enron cc: Subject: FERC Staff Investigations on Midwest and Southeast Bulk Power Systems Please forward this to Rick's group. Thanks. Please note that these FERC staff reports contain some potentially helpful information that can be used at the state PUC level, including information on the increase in generation in the Midwest that market participants attribute to lack of price caps following the summer 1998 price spikes; better preparation for summer 2000 through the use of forward contracts and transmission problems that may have resulted in keeping cheaper power from particular markets. On 11/1/00, FERC Staff issued reports on its Investigation of Bulk Power Markets in the Eastern Interconnection. These reports were the result of a Commission order earlier this summer. Enron's Federal regulatory staff (Christi, Charles Yeung, and Sarah Novosel) provided a great deal of information for this investigation and Joe Hartsoe and Donna Fulton discussed many of the problems with the grid with the new head of Staff, Scott Miller (who recently joined FERC from PG&E Gen). While the Commission is under no obligation to take any of Staff's recommendations, the Commission typically looks to Staff for guidance on transmission and market issues. Importantly, Staff concludes that the Commission should consider these options for the Southeast and Midwest -- all of which Enron has been asking FERC to implement for several years: Reduce the advantages of network service over point to point service by requiring that native load be served under the same tariff as other transmission services to eliminate the current incentives that VIUs have to favor their native load through the calculation of ATC and handling of interconnection requests. While the Staff Hotline is used productively, the Commission can direct Staff to conduct formal investigations into entities that have a pattern of complaints. The Commission could require TPs to submit tariff provisions containing a pro forma interconnection process specific to interconnection, rather than simply relying on the Tennessee Power order that utilizes the OATT timelines and procedures. Require TPs to retain real-time transmission data on market functions pertaining to daily load, internal generation to meet that load, and imports and exports. RTOs should submit the basis and methods for calculating ATC and TTC, as well as standardized criteria for curtailment. In addition, since even such standardized criteria might not "get to the root of the problem" -- that control area still control generation -- the Commission could require that each RTO set a date certain by which it will create one control area. Regardless of the implementation of these two options, the Commission could standardize ATC and TTC methodology. Staff finds that while electricity is a commodity with market characteristics similar to many other commodities, it is still viewed as "different," with a reaction of price caps. Staff encourages that basic decisions about the regulatory model be made in order to complete the transition from a traditional cost-of-service model to a model that uses markets to price the commodity and services. DETAILS (Also, the reports contain good summaries of the generation, transmission, state retail, federal reg. and other issues for the region): Midwest: The Midwest is dominated by vertically integrated Transmission Providers ("TPs") that control transmission, generation and load. "As such, they have weak economic incentives to provide access to transmission service to third-parties and strong incentives to favor their own services." Staff received numerous complaints; however, due to the lack of information available from TPs, Staff cannot conclude whether these are isolated incidents or wide-spread. At the very least, the complaints indicate a lack of confidence in the bulk power market and the ability of market participants to rely on transmission access, thus harming the liquidity of the market. TLRs are the most important transmission issue in the Midwest, with an "enormous" increase in 2000. The region showed a decline in peak load from 1999 to 2000 and a growth in new generation since the 1998 price spikes. Even though there was an increase in generation and mild weather with virtually no price spikes, TLRs climbed to record numbers. The TLRs were highly concentrated: only 5 flowgates account for 41% of ECAR TLRs and another 5 flowgates in MAIN account for 42% in that region. Notably, even though the NERC procedures for Level 3 TLRs mandate transaction curtailment, 78 of the 191 TLRs in the Midwest do not show any curtailment amount. The total amount of relief that these curtailments are intended to produce are not posted. Staff notes that TLR rules are established by NERC, whose procedures are voluntary and not enforced by penalties. While the Commission has required certain NERC standards and procedures to be placed in Open Access Transmission Tariffs ("OATT") where the Commission has the power to enforce provisions under the Federal Power Act, in practice the Commission has generally deferred to NERC on transmission reliability questions, including the propriety of TLRs. TLRs inhibit optimal functioning of the transmission system and market because load is not served by the least cost supplier. TLR procedure is an inefficient instrument in mitigating constraints -- curtailment by fiat. In addition, the NERC IDC can result in inappropriate curtailments or increased loading on the affected flowgate. The impact could be mitigated by one control area per RTO. Staff notes that the Midwest state commissions did not petition FERC for price caps following the 1998 price spikes. Some market participants believe that the absence of price spikes is the single reason that NUG construction increased in the Midwest. Market participants must keep track of, and follow, a plethora of information in order to make energy deals, submit reservations and provide schedules for service. Staff received many complaints about barriers to transmission access, including TLR curtailments and a lack of standardized information and protocols, particularly for ATC and interconnection requests, and discriminatory conduct. Unbelievably, key data was unavailable to Staff, such coincident peak load data, system-wide snap shots for days when TLRs were called, and import/export data. This lack of data creates a market inefficiency, because neither market participants nor regulators can fully analyze market conditions in real time. As such, the market is risk adverse, eschewing long-term deals for short-term transactions. Staff also noted that because the Security Coordinators often work for the IOU, there is a mixed incentive to enforce reliability on the grid and maximize profit for the IOU. (Staff cites Richard Tabors' paper, "Transmission Markets, Stretching the Rules for Fun and Profit.") Staff cites the lack of information on OASIS or on the NERC web site, particularly about real time TLRs and curtailments. Examples were provided to Staff of transmission refusals when there were no TLRs posted and improper implementation of TLRs causing substantial financial loss. The currently proposed Midwest RTOs may mitigate some problems; however, all three retain existing control areas with the favortism for generation and native load. These incentives will continue to remain until the RTO exercises complete autonomy over transmission control and security coordinator functions. Staff notes that the Midwest is a balkanized region of 61 control areas with no uniform method for calculating ATC and CBM. The result is that ATCs can be different on 2 different sides of an interface. Staff notes examples in inaccurate ATCs and states that Staff's own ATC audit this summer was consistent with market participant complaints. Staff is weighing follow-up options. The result of these problems is a lack of liquidity. Staff next noted the problems with unfiled "business practices," especially on the next hour market. Staff's audit of OASIS sites revealed several areas of non-compliance. Information transparency is necessary for a market to function efficiently, with equal and timely access to data, including ATC, CBM, TRM, and load flow input data. TPs have incentives to resist efforts to make this information transparent because of native load. This incentive will still exist under RTOs if utilities are allowed to calculate their own ATC. *** "As a consequence, the Commission may wish to eliminate the native load exemption and have all transactions under the same tariff." *** The Commission could benefit by having access to existing transmission data and should require the TPs to retain data, including current real-time network status. Interconnection Issues: IPPs need to be compensated for VAR support. Also, Staff cites a number of Hotline complaints about TPs seeking large deposits or failing to complete System Impact Studies timely. One solution is to have the RTO handle this function to eliminate the disincentive the utilities have against IPPs. The current practice of requiring IPPs to deal with a wide variety of procedures inhibits the free flow of transactions within the region. Network service has inherent advantages over point-to-point, citing the Entergy source and sink order. The Commission has relied on "passively" receiving informal and formal complaints to determine if discriminatory behavior has occurred rather than actively canvassing market participants. While Staff cannot conclude that discriminatory practices are widespread, there is evidence of discriminatory instances. Southeast: The traditional vertically integrated utility ("VIU") model has largely persisted in the SE. This continued control has vastly reduced the economic incentives to facilitate IPP activities. In many cases, the VIUs have dampened IPP involvement without violating any Commission regulation due to the inherent flexibility of the current rules. Staff cites examples of delays in performing system impact studies, transmission hoarding in the name of serving native load growth and manipulation of ATC. TPs have shown little inclination to improve the transmission system and use many TLRs. There is also a lack of market information that has stymied the development of markets in the SE. ATCs change constantly that leads to uncertainty and there is no clearinghouse for electric power prices. TVA, despite having taken steps to participate in reformed markets, has acted as a bulwark against the development of competitive energy markets in the SE. This is significant because of TVA's size and location. IPPs have reported TVA's discouragement of siting in TVA through excessive time to perform studies, excessive fees, and rejection of requests to perform interconnection studies. In addition, Staff cites the Florida Sup. Ct. decision against merchant plants as significantly impeding the competitive market in Florida. Staff discusses the significant flow of power from the Midwest to the SE this summer. Much of this resulted from the import of cheaper coal power, than the use of gas fired peakers due to higher gas prices. Peak prices were radically lower this summer because utilities appear to have been better prepared for peak events through the use of forward contracts, increased generation capacity on line and reduced number of forced outages. SE utilities reported that they have not used market-based rates to extensively increase sales. (Less used than in the midwest.) The SE region lacks information, which has retarded the Staff's efforts to discern the truth about the numerous complaints about transmission in the SE (including ATC and TLRs). Market participants seem to have less confidence in the SE market than in any other market region. This appears to be justified based on Staff's investigations. This lack of confidence discourages investment and participation in the markets. Staff concludes that the Commission may need to be more prescriptive in terms of how transmission is allocated in the SE RTOs, since there are market concerns that the incumbents will continue to dominate operations. The investigation found numerous problems in bad ATCs and TTCs and poor OASIS postings. In addition, several OASIS audit logs actually erased historical data. Staff thinks that additional affiliate transaction information should be posted. Staff could not obtain summer demand data and the Commission's lack of jurisdiction over TVA made it difficult to obtain transmission access information. The Staff investigation revealed unclear interconnection procedures and lack of adherence to schedules and arbitrary cost estimates and deposits. In addition, the TPs have reserved a huge amount of network transmission capacity, much of it reserved shortly after the IPP approached the TP to interconnect. Staff cites the recent Skygen order in which Southern denied Skygen's request for transmission stating that the only option was the construction of an 80 mile 500 kv line that would take 8 years to complete. Staff solutions include allowing network requests by IPPs and limiting self-build capacity in the incumbent's territory. ATC variations are a big problem in the SE. SERC coordination of a standardized ATC is a long process and may not be resolved soon without direction from the Commission. An improved method and improved communication are needed. The SE experienced a 354% increase in TLRs this summer. This increase raises the issue of whether curtailment has become an impediment to the competitive operation of the market in the SE. Staff cites information provided by Charles Y. that an Ameren TLR was not implemented according to NERC criteria. Staff also wonders if transmission is being oversold since TPs do not generally refund transmission revenues when TLRs are implemented. RTOs must have a broad geographic area to internalize much of the constraints. In addition, RTOs will adopt pricing mechanisms that obviate recourse to TLRs. However, if control areas are retained, VIUs will retain mixed incentives. *** As noted in the Midwest report, the manner in which load is calculated weighs heavily on the value of this information. This is an issue that the formation of RTOs may not resolve. Eliminating native load exceptions -- ie, treating all load equally -- and placing all transactions under the same tariff may be an option that provides the right incentives for the provision of transparent and standardized information. Finally, Staff describes specific problems with TVA and FP&L, TVA is a "problem area" for the Eastern Interconnect grid. TVA is a transmission bottleneck due to the many TLRs called this summer. The current federal law and lack of Commission jurisdiction are impediments to the development of deep and robust power markets in this area. TVA simply has no strong incentive to provide effective and efficient transmission service. In addition, the Commission does not have full information on TVA. Staff lists a number of complaints against TVA, including unjustifiably increasing the tag deadline and allowing TVA Marketing, but not others, to sink and park power. Staff concludes that recent proposals by TVA to enhance the development of markets and its system do not appear to have great potential. A Staff audit of FP&L revealed violations of standards of conduct, including confidential information on FP&L's transmission system (including interchange information for other entities) posted on EMS systems that were available to FPL's merchant function. Staff's report found that FP&L does not have an established procedure for review of EMS to ensure that information is not displayed in error. It is "up to individual Managers discretion." ((FRCC web site report dated 9/8/00)). Violations such as these undermine competition. The reports are attached below. - southeast.pdf - midwest.pdf

Ken, I found your card with your email address on it when I was sorting through my filing cabinet. I decided to say "Hi". Tears still pop in my eyes when I think about your Dad he was so very special to me. For my sake I wish he could have lived forever but for his sake I'm glad he didn't. I kept working for Kelly Assisted Living for a year or more in family practice clinics etc so I wouldn't get too attached I guess. I then went to work at Boone Hospital on the cardiology ward for about 6 wks and decided I didn't like that. So I'm now working at a nursing home in Salisbury -- and I like this better, other than they are too short of help and I work a lot of hours. The old people are still my preference and I must want to get involved with them and really know them. But your Dad will always be the really special one. I just wanted to say hi and thanks for giving me the opportunity to take care of him. Sincerely, Marilyn Hurt ? ? ?

please block off on my calendar ----- Forwarded by Steven J Kean/NA/Enron on 12/04/2000 07:35 AM ----- Rosalee Fleming 12/01/2000 02:56 PM To: James M Bannantine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cliff Baxter/HOU/ECT@ECT, Sanjay Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jeremy Blachman/HOU/EES@EES, Philippe A Bibi/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT, Michael R Brown/LON/ECT@ECT, Harold G Buchanan/HOU/EES@EES, Rick Buy/HOU/ECT@ECT, Richard Causey/Corp/Enron@ENRON, Diomedes Christodoulou/SA/Enron@Enron, Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David Cox/Enron Communications@Enron Communications, David W Delainey/HOU/ECT@ECT, James Derrick/Corp/Enron@ENRON, Steve Elliott/Enron Communications@Enron Communications, Jim Fallon/Enron Communications@Enron Communications, Andrew S Fastow/HOU/ECT@ECT, Mark Frevert/NA/Enron@Enron, Ben F Glisan/HOU/ECT@ECT, Kevin Hannon/Enron Communications@Enron Communications, David Haug/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rod Hayslett/FGT/Enron@ENRON, Stanley Horton/Corp/Enron@Enron, James A Hughes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Larry L Izzo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steven J Kean/NA/Enron@Enron, Louise Kitchen/HOU/ECT@ECT, Mark Koenig/Corp/Enron@ENRON, Kenneth Lay/Corp/Enron@ENRON, John J Lavorato/Corp/Enron@Enron, Dan Leff/HOU/EES@EES, Danny McCarty/ET&S/Enron@Enron, Mike McConnell/HOU/ECT@ECT, Rebecca McDonald/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jeffrey McMahon/HOU/ECT@ECT, Mark Metts/NA/Enron@Enron, Mark S Muller/HOU/EES@EES, Cindy Olson/Corp/Enron@ENRON, Lou L Pai/HOU/EES@EES, Ken Rice/Enron Communications@Enron Communications, Matthew Scrimshaw/LON/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, Jeffrey Sherrick/Corp/Enron@ENRON, John Sherriff/LON/ECT@ECT, Jeff Skilling/Corp/Enron@ENRON, Marty Sunde/HOU/EES@EES, Greg Whalley/HOU/ECT@ECT, Thomas E White/HOU/EES@EES, G G Garcia/NA/Enron@Enron, Marcia Manarin/SA/Enron@Enron, Susan Skarness/HOU/ECT@ECT, Stacy Guidroz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Beena Pradhan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Karen K Heathman/HOU/ECT@ECT, Sharron Westbrook/Corp/Enron@ENRON, Kay Chapman/HOU/ECT@ECT, Molly Bobrow/NA/Enron@Enron, Rosane Fabozzi/SA/Enron@Enron, Stephanie Harris/Corp/Enron@ENRON, Bridget Maronge/HOU/ECT@ECT, Nicki Daw/NA/Enron@Enron, Inez Dauterive/HOU/ECT@ECT, Carol Ann Brown/Enron Communications@Enron Communications, Elaine Rodriguez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cindy Stark/Corp/Enron@ENRON, Mary E Garza/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Maureen McVicker/NA/Enron@Enron, Joannie Williamson/Corp/Enron@ENRON, Vanessa Groscrand/Corp/Enron@ENRON, Suzanne Danz/Corp/Enron@ENRON, Tori L Wells/HOU/ECT@ECT, Cathy Phillips/HOU/ECT@ECT, Loretta Brelsford/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sue Ford/HOU/ECT@ECT, Dolores Fisher/NA/Enron@Enron, Kathy McMahon/Enron Communications@Enron Communications, Karen Owens/HOU/EES@EES, Dorothy Dalton/Enron Communications@Enron Communications, Mercedes Estrada/Enron Communications@Enron Communications, Christina Grow/Corp/Enron@ENRON, Lauren Urquhart/LON/ECT@ECT, Sherri Sera/Corp/Enron@ENRON, Katherine Brown/Corp/Enron@ENRON, Liz M Taylor/HOU/ECT@ECT, Judy G Smith/HOU/EES@EES, Peggy McCurley/HOU/ECT@ECT, Marsha Schiller/HOU/ECT@ECT, Fiona Stewart/LON/ECT@ECT, Jana L Paxton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Connie Blackwood/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tammie Schoppe/HOU/ECT@ECT, Kimberly Hillis/HOU/ECT@ect, Jennifer Burns/HOU/ECT@ECT, Sharon Dick/HOU/EES@EES, Beverly Aden/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Kerry Ferrari/LON/ECT@ECT, Carol Moffett/HOU/EES@EES, Jennifer Adams/Enron Communications@Enron Communications, Leah Rijo/Enron Communications@Enron Communications, Lucy Marshall/Enron Communications@Enron Communications, Kathy Campos/GPGFIN/Enron@ENRON, Julie Armstrong/Corp/Enron@ENRON, Kathryn Greer/HOU/EES@EES, Mrudula Gadade/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brenda Castillo/NA/Enron@Enron cc: Subject: The Enron Corporate Policy Committee Retreat Ken and Jeff have decided that the Enron Executive Committee Retreat will include only the Corporate Policy Committee this year. (See list of members below.) You may be holding the timeframe of January 16-18, 2001 on your calendar, which you can now free up if you are not on the committee. The location of the retreat is under consideration. When a decision is made, we will get the information to the members of the Corporate Policy Committee. Departure for the retreat will be early afternoon on Tuesday, January 16 with return to Houston late afternoon on Thursday, January 18. Please don't hesitate to call me if you have any questions at 713-853-6088. Rosie Enron Policy Committee Baxter, Cliff Causey, Rick Derrick, Jim Fastow, Andy Frevert, Mark Hannon, Kevin Horton, Stan Kean, Steve Lay, Ken Pai, Lou Rice, Ken Skilling, Jeff Whalley, Greg

Shari: It sounds great but I'm taking a few days off and won't be in town. Thanks. Sara Shari Stack 12/04/2000 10:45 AM To: Sara Shackleton/HOU/ECT@ECT cc: Subject: Upcoming Wine Tasting I don't know if you are interested or if you have a Spec's "key" but this wine tasting looks very interesting and is free. I am going w/ some friends and have already rsvp'd. If you are interested - just rsvp and join us! Shari ______________________________________ FREDERICK WILDMAN PORTFOLIO TASTING On Wednesday, December 6th at 7pm, please join SPEC's wine manager Bear Dalton and Frederick Wildman's regional manager Eric Bauer at l'Alliance Francaise for SPEC's KEY Holder tasting of wines from the portfolio of Frederick Wildman. The tasting will include Olivier LeFlaive Chablis 1999, Olivier LeFlaive Puligny Montachet 1998, Olivier LeFlaive Rully 1er Cru 1998, JJ Vincent St. Veran 1998 and Macon Villages 1999, Paul Jaboulet Crozes Hermitage Les Jalets 1998, Paul Jaboulet Dom. Thalabert 1997, Paul Jaboulet "Parallel 45"Cotes du Rhone 1999, Paul Jaboulet Muscat Beaumes de Venise, Ibernoble Ribera del Duero Cosecha 1999 and Crianza 1997, Churchill 10 Year Old Tawny and Finest Vintage Character Ports, Pascal Jolivet Sancerre 1999, Hugel Gentil 1999, Hugel Gewurtztraminer 1998, Hugel Pinot Blanc 1998,Ch. Miquel St. Chinian 1997, Ch. St. Sulpice Medoc 1998, El Coto Rioja Crianza 1997 and "Coto de Imaz" Reserva 1996,and Col d'Orcia "Gineprone Chianti" 1997. These are wines that we've ordered for SPEC's that will soon be available in our stores. The FREDERICK WILDMAN PORTFOLIO TASTING is free to our SPEC's KEY holders. Two reservations per key holder will be accepted and we will accept the first 100 reservations. For directions, reservations, or more information on this event, please call SPEC's at 713-526-8787. This event will be held at l'Alliance Francaise, 427 Lovett Boulevard (on the southeast corner of Lovett and Whitney, one block south of Westheimer). Prices for the two SPEC's / Wine School classes include SPEC's famous 5% discount for cash.

Received z <zyft02@yahoo.com> on 10/04/2000 08:48:55 AM Please respond to zyft02@yahoo.com To: john.arnold@enron.com cc: Subject: TEST This is a test from Yahoo email. Please reply if received. Don Adam Team Lead, Trader Support __________________________________________________ Do You Yahoo!? Yahoo! Photos - 35mm Quality Prints, Now Get 15 Free! http://photos.yahoo.com/

Suzanne, Please call (not email - he doesnt check it) Paul Pipitone (Andrews & Kurth) and see if he is available for a meeting (or conference call) to discuss the GE facility agreement sometime tomorrow - either am or after 300. Thanks, Kay

means you got a lot of ammo

FYI ----- Forwarded by Richard B Sanders/HOU/ECT on 10/29/2000 09:01 AM ----- "WENDY EDWARDSON" <wendy.edwardson@blakes.com> 10/27/2000 10:00 AM To: <Richard.B.Sanders@enron.com> cc: "DALTON MCGRATH" <dalton.mcgrath@blakes.com>, "DAN FOURNIER" <dan.fournier@blakes.com>, "GLENN LESLIE" <glenn.leslie@blakes.com>, "MARK MORRISON" <mark.morrison@blakes.com>, "WEB MACDONALD" <web.macdonald@blakes.com> Subject: 83829/44 Enron Canada re Special matter - Project Stanley Status Report re: tape transcripts At this time, this summary has been sent to you only. Counsel for Powerex has indicated that he now has instructions to share with us the information that has been seized from their offices by the Bureau in exchange for our providing similar information to them. He has also indicated to us that between the 19th and the 25th of October, the Bureau came to Vancouver and listened to the Powerex tapes using Powerex equipment in that they had been unable to listen to them with their own equipment. As you are aware, the tapes seized from the Enron offices in Calgary cover the period of September of 1999 to the end of October. The tapes which we have listened to, but which they have not seized, cover the period commencing in late May of 1999 to September, 1999. With respect to the tapes that they have seized, initially we exerted a claim of privilege to all of the tapes. The Bureau has now come back to us and has asked us to clarify how we would propose resolving the privilege question. We have volunteered to have this discussion with them, but to this point in time, they have not responded to us. If, as and when the conversation occurs, our position will be that we intend to claim privilege with respect to conversations with lawyers only. How this particular aspect of the matter would be resolved is not as yet clear. Our view is that with respect to the conversations they have, they are not particularly damaging but the conversations do not particularly add to the flavour of the matter to our benefit. On Wednesday of next week, we will be meeting with counsel for Powerex to see exactly which conversations they have delivered to the Bureau. We will advise him of the conversations that have been taken by the Bureau from our offices and at the conclusion of this matter, we should be able to see exactly what it is that the Bureau has in terms of conversations between Powerex and Enron. We look forward to discussing this matter with you at your convenience. Yt Web Macdonald

The Heatherlock deal had a Single Transaction Agreement attached to it. When the contract ended the deal ended. The other two I believe we just need a email from Vance or Donald setting up a spot ticket. Vance could you look into that? Do I have the wrong contract attached? Or is there a new contract. for Camden & North Central, are those just going to be spot tickets? Julie Daren J Farmer 09/28/2000 07:41 AM To: Robert Cotten/HOU/ECT@ECT, Julie Meyers/HOU/ECT@ECT cc: Subject: October Wellhead I have rolled or input the following deals for October. Crosstex 138553 2 Duke 418429 139 Hesco 394798 500 Swift 418431 322 Tri-Union 418432 700 Vintage 403367 300 Whiteoak 418434 96 Whiting 418436 100 So, I am showing that the only deals we have outstanding for Oct are: Camden/9858 3000 Heatherlock/6879 544 (previous deal#133010) North Central/5228 3000 Julie - Please check these deals for the correct contract/terms. Also, please look into Heatherlock. Vance is noming gas for this deal. However, the deal ticket does not have an evergreen flag. When I tried to roll another month, I got a message that another contract was needed. Thanks. D

Will you be making any stops today on the way home...................If not.............................I can leave now if I want to..........................part of my 20 year celebration today. (Smile) Being that I'm not driving, I'm stuck like chuck..... (Smile)

Hope Dina and the baby are doing well. Chris

Hi Kate, I know you are working on this problem. This deal will not let me save it because it wants the schedule type filled in. Let me know if there is a schedule type I can choose or if I should just wait until the problem is fixed. Thanks, Melissa

Greetings, The lightning paper was accepted for oral presentation at the International Lightning Detection Conference. Is this something I can beging preparing for? Matt Meyers ---------------------- Forwarded by Matthew Meyers/EWC/Enron on 06/04/2002 12:15 PM --------------------------- "Cheryl Turner" <cheryl.turner@vaisala.com> on 06/04/2002 11:45:24 AM To: "Turner Cheryl CT" <cheryl.turner@vaisala.com> cc: Subject: ILDC Conference 4 June 2002 RE: Paper acceptance for the 17th International Lightning Detection Conference Greetings, Thank you for submitting for your abstract for the 17th ILDC in Tucson, Arizona, on 16-18 October 2002. Your paper has been accepted for an oral presentation. Please be aware that Vaisala recently acquired Global Atmospherics, sponsor of ILDC. We are now Vaisala-GAI. Our name has changed, but our commitment to the ILDC remains the same. The following items require your immediate attention. If applicable, please share this information with your co-authors. Final paper deadline is 15 August 2002 .?????? Authors must submit their final papers by 15 August 2002. .?????? Please use e-mail to submit your paper: mailto:cheryl.turner@vaisala.com - ILDC 2002 Presenter_registration.pdf - ILDC 2002 Equipment_form.pdf - ILDC 2002 Release_form.pdf - ILDC 2002 PAPER TEMPLATE.doc - ILDC 2002 Paper_template_read only.pdf - ILDC 2002 Presenter_tips.pdf

The time has finally arrived for me to leave the working world - tomorrow (7/28) is my last day at Bank United - and I will soon be leaving for Evanston, so I thought I'd pass along some info if you need to reach me. I'll be in Houston until around August 23rd or so. My home # is (713) 665-5792. I can also be reached at the parents' house at (281) 920-3113. No more cell phone for now - drat! My email address (until I get up to school) is: cbmcwherter@yahoo.com . My contact info in Evanston is: 1600 Hinman, Apt. 1M Evanston, Illinois 60201 (847) 869-7988 I'll forward my Kellogg e-mail address when I get it in September. If you ever want to come up and check out Chicago, catch a game at Wrigley, or donate money to the McWherter Scholarship Fund, please let me know. I'll be more than happy to take a break from the world of academia and do whatever. I'm sure I'll see most of you before I leave, but if not, take care and I wish you the best. Blake

10 AM works for me. Mary Hain@ECT 09/14/2000 12:41 PM To: James D Steffes/HOU/EES@EES, jdasovic@ees.enron.com, Susan J Mara/SFO/EES@EES, Mona Petrochko, Sarah Novosel/Corp/Enron@ENRON, Joe Hartsoe@Enron, Paul Kaufman/PDX/ECT@ECT, Dennis Benevides, James E Keller/HOU/EES@EES, Richard Sanders, Donna Fulton/Corp/Enron@ENRON, Harry Kingerski/HOU/EES@EES, Sandra McCubbin/SFO/EES@EES cc: Bernadette Hawkins, Joseph Alamo, carrrn@bracepatt.com, seabron.adamson@frontiereconomics.com Subject: Re: Conference call re Tim's top 5 Jim is available at 10:00 pacific time. Does that work for others? Jim - Ron suggests having Carl Imparato on the call because of his extensive knowledge of California markets. What do you think? If you were looking for an attached list, I haven't prepared it yet. James D Steffes@EES 09/14/2000 09:42 AM To: Mary Hain/HOU/ECT@ECT cc: Subject: Re: Conference call re Tim's top 5 9am Central time is bad for me. I could do it at 8am Central or 12noon Central. Don't hold off for me. Jim Mary Hain@ECT 09/14/2000 11:32 AM To: jdasovic@ees.enron.com, Susan J Mara/SFO/EES@EES, Mona Petrochko, Sarah Novosel/Corp/Enron@ENRON, Joe Hartsoe@Enron, James D Steffes/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT, Dennis Benevides, Harry Kingerski/HOU/EES@EES, Christi L Nicolay/HOU/ECT@ECT, Donna Fulton/Corp/Enron@ENRON, Sandra McCubbin/SFO/EES@EES cc: Bernadette Hawkins, Joseph Alamo, carrrn@bracepatt.com, seabron.adamson@frontiereconomics.com Subject: Conference call re Tim's top 5 I'd like to have a conference call tommorrow at 9:00 a.m. to review Tim's "top 5" priorities to fix the wholesale market in California. I need to do this tomorrow so Seabron and Ron can write our pleading for the Section 206 proceeding while I'm on vacation next week. Please let me know ASAP if 9:00 is a bad time or if you don't want to be on the call.

Mel, thank you for lunch. It was great to see you and catch up. Here's the memo I mentioned. All the best. Jim ---------------------- Forwarded by James Derrick/Corp/Enron on 12/01/2000 11:48 AM --------------------------- Stephanie Harris 11/08/2000 05:17 PM To: James Derrick/Corp/Enron@ENRON cc: Subject: Organizational Changes ----- Forwarded by Stephanie Harris/Corp/Enron on 11/08/2000 05:17 PM ----- Ken Lay and Jeff Skilling Sent by: Enron Announcements 11/08/2000 04:59 PM To: All Enron Worldwide cc: Subject: Organizational Changes We are making a number of significant organizational changes. These changes are intended to accomplish four key objectives: First, we need to realign all our wholesale businesses around the successful business model developed over the last decade in North America and Europe. This model relies on extensive physical and transactional networks built around a relatively small strategic asset position. Second, we need to significantly streamline corporate reporting relationships. Particularly with Joe Sutton
,s departure, the ability to directly manage the day-to-day activities of 15 independent business units has become increasingly difficult. Third, we need to accomplish these changes without, in any way, compromising the ongoing profitability of all our businesses and without delaying or hindering our effort to monetize a significant portion of our lower-yielding asset positions. And fourth, as always, we need to take advantage of the reorganization to redeploy our talent into our highest value opportunities. ENRON WHOLESALE SERVICES Today, we are forming Enron Wholesale Services (EWS) which will consolidate our global wholesale businesses. The closer alignment of our wholesale businesses will accomplish the following: (1) enhanced communication and coordination across business units, (2) more rapid deployment of people to higher valued opportunities, (3) more effective prioritization of opportunities across the wholesale business, and (4) more rapid extension of Enron
,s wholesale business model and capabilities into new industries and markets. Enron Wholesale Services will include our current North American, European (including Japan and Australia), Global Markets, and Industrial Markets operations, and will be expanded to include Enron
,s Net Works business unit as well as a new unit
) Enron Global Assets. In addition, Enron
,s merchant businesses outside of North America and Europe will be integrated into this new structure as described below. Mark Frevert, currently Chairman of each of our wholesale units, will assume the role of Chairman and CEO of Enron Wholesale Services. Greg Whalley, currently Chairman and CEO of Enron Net Works, will join Mark in the Office of the Chairman as President and Chief Operating Officer. Providing further impetus for these organizational changes, several of our international business unit leaders have elected to move into new leadership positions: Rebecca McDonald, currently CEO of Enron APACHI, will join EWS as President and CEO of Enron Global Assets. Enron Global Assets will have responsibility for managing all of Enron
,s existing energy asset portfolio outside of North America and Europe. Joining Rebecca in the Office of the Chairman as COO will be Jim Hughes, currently COO of Enron APACHI. Rebecca and Jim will report to the EWS Office of the Chairman. Sanjay Bhatnagar, currently CEO of Enron India, has joined EBS as CEO for the Middle East and Asia region. Sanjay will be responsible for building our broadband business in this region and the current EBS team in this region will report to Sanjay. In this role, Sanjay will report to the EBS office of the Chairman. In addition, Sanjay will continue to remain responsible for Enron
,s wholesale energy business in India and will transition this business into Enron Global Assets in the near future. Diomedes Christodoulou, currently Co-CEO of Enron South America, has joined EBS as Chief Commercial Officer. Diomedes will be located in London and will focus his origination activities on global opportunities, with near term attention to the wholesale and enterprise sectors. Diomedes will report to the EBS Office of the Chairman. Jim Bannantine, currently Co-CEO of Enron South America, will be joining EES to lead EES
, commercial efforts outside North America and Europe. In order to ensure a smooth transition for our South American businesses and to facilitate our asset sales activities, Jim will remain in South America for at least the next several months and continue to serve as CEO of Enron South America. Throughout the transition, Jim will report to Cliff Baxter and to the Office of the Chairman of Enron Wholesale Services. Following the transition, Jim will join EES. In addition to these changes in our international asset operations activities, we are making the following changes in our merchant wholesale businesses and the commercial support functions: Enron Net Works Louise Kitchen will assume Greg
,s previous responsibilities as President and CEO of Enron Net Works, reporting into Mark and Greg. Enron Americas Concurrent with the transfer to Enron Global Assets of responsibility for operating Enron
,s South and Central America asset base, all trading, marketing, and new asset development activities in these regions will report into a new entity, Enron Americas. Enron Americas will have responsibility for all wholesale merchant businesses across North, Central and South America. Dave Delainey, President and CEO, and John Lavorato, Chief Operating Officer will comprise the Office of the Chairman for Enron Americas. Enron Europe The Enron Europe organization, which includes Enron
,s businesses in Australia and Japan, and Enron Metals, remains unchanged under the leadership of John Sherriff, President and CEO, and Michael Brown, Chief Operating Officer. Enron Global Markets Enron Global Markets, under the leadership of Mike McConnell, President and CEO, and Jeff Shankman, Chief Operating Officer, will continue to have responsibility for Enron
,s Middle East and LNG operations. With the exception of Ecoelectrica in Puerto Rico, all operating power plants and associated personnel in the Caribbean and Central America will transfer to Enron Global Assets. Enron Global Markets will also continue to manage the commodity businesses in crude and products, coal, weather, insurance, equities, interest rates, foreign exchange, and agricultural products. Enron Industrial Markets Enron Industrial Markets
, organization, under the leadership of Jeff McMahon, President & CEO, and Ray Bowen, Chief Operating Officer, remains unchanged. Commercial Support for EWS The commercial support functions for EWS will remain with, and be managed by, the individual business units. We are creating no incremental overhead in the creation of EWS, and in fact hope to reduce our operating costs by more efficient utilization and sharing of resources across EWS. To this end we have asked several people to take on an expanded role across EWS in addition to their ongoing roles within their business units. These newly defined roles are as follows: Mid and Back Office Operations
) Sally Beck will lead Mid and Back Office Operations across EWS. These services will become part of Enron Net Works, with Sally reporting to Louise Kitchen and Rick Causey, Executive Vice President and Chief Accounting Officer. This alignment creates a coordinated services organization with IT and e-commerce platforms to support the wholesale businesses and to maximize opportunities to commercialize these services. Mid and Back Office services for all commercial activities will continue to be organized with dedicated operations controllers responsible for specific commodities and/or geographic locations. Legal
) Mark Haedicke will serve in the role of General Counsel for EWS. Regulatory and Government Affairs
) This function will remain organized on a regional basis. Rick Shapiro will support all EWS businesses operating in the Americas, and Mark Schroeder, who is based in London, will support all European and Eastern Hemisphere operations. Rick and Mark will also continue to support all other Enron businesses operating in their respective regions and will continue to report to Steve Kean, Executive Vice President and Chief of Staff. Public Relations
) This function is also organized primarily on a regional basis. Eric Thode will have responsibility for North American activity, Enron Net Works, and Enron Industrial Markets. Jackie Gentle will continue in her role for Enron Europe (including Japan and Australia) and John Ambler will have responsibility for activity outside North America and Europe as well as providing support for Enron Global Markets and Enron Global Assets. These individuals will also continue to have a split reporting relationship to Mark Palmer, Vice President of Communications. Business Analysis and Reporting
) Wes Colwell will expand his role to cover EWS reporting in addition to his current role in North America. Attached for your review is an organization chart for Enron Wholesale Services which summarizes the changes described here. As this organization continues to evolve we will keep you informed of any additional changes. ENRON GLOBAL EXPLORATION AND PRODUCTION AND ENRON WIND As part of our company-wide initiative to examine our assets and investments around the world, we are considering a variety of options with respect to EGEP and EWC. As a consequence, we are putting these businesses under Cliff Baxter
,s direction. Jeff Sherrick, CEO of EGEP, and Jim Noles, CEO of Enron Wind, will report to Cliff. CORPORATE STAFF We are consolidating the corporate staff functions: Human Resources, Government Affairs, Public Relations/Communications and Administration. In that regard, Cindy Olson, Executive Vice President of Human Resources and Community Relations, will report to Steve Kean, Executive Vice President and Chief of Staff. COMMITTEE STRUCTURE In light of the increased leadership opportunities created by Enron
,s growth, the Executive Committee will be expanded to include more of our business unit leaders. The primary role of this committee will continue to be the communication of relevant information across Enron
,s businesses and the coordination of activities across those businesses. We will also be drawing on this group to lead company-wide initiatives such as the performance review process and evaluation and creation of new businesses. The Executive Committee membership is shown on the attached list. We are also forming a new committee
) the Enron Corporate Policy Committee. This group will be responsible for overall corporate policy, personnel management policy and corporate strategy. The Enron Corporate Policy Committee membership is also shown on the attached list. We are confident that these changes will align our talent and our capital to our highest return opportunities. Please join us in congratulating and supporting all of these individuals in their new roles.

I wanted to update you on my request to retain Lynn Slade of Modrall Sperling for a power plant development transaction involving the Seminole Tribe of Florida. In requesting Jim Derrick's approval, he asked that I contact Jim McCartney of Vinson & Elkins to discuss such a retention because Jim McCartney who has had extensive Enron experience regarding our right-of-way agreements through Indian country and recently had a mixed experience with Lynn Slade. Jim has been both candid and very helpful. He has recommended that the better approaches would be either to retain Mike Webster, an Indian lawyer in Montana, or find a lawyer in Florida who has had direct experience with Seminoles. More importantly, Jim graciously offered to review the preliminary letter of intent that we are negotiating and offer his comments based on his general Indian law experience. He will charge the limited amount of time that will be required for this review against his general retainer that he has with Jim Derrick. At this preliminary stage, I believe that Jim's review and comments will suffice for purposes of getting advice on the letter of intent and I will continue to pursue identifying a Florida-based lawyer with experience in dealing with the Seminoles. Carlos Sole' Senior Counsel Enron North America Corp. 1400 Smith Street Houston, Texas 77002-7361 (713) 345-8191 (phone) 713 646-3393 (fax)

---------------------- Forwarded by Judy Hernandez/HOU/ECT on 12/12/2000 11:37 AM --------------------------- Julissa Marron @ ENRON 12/12/2000 10:03 AM To: Angela Mendez/GPGFIN/Enron@ENRON, Marilyn Rivera/HOU/ECT@ECT, Marvia Jefferson/HOU/ECT@ECT, Linda S Bryan/HOU/ECT@ECT, "Becky Beltran" <beckybeltran@hotmail.com>, RGar413489@aol.com, Tiffany La Dang <tiffany@eubanks-architects.com>, Adrial Boals/Corp/Enron@Enron, Judy Hernandez/HOU/ECT@ECT, Faye Ellis/HOU/ECT@ECT, Sandra R McNichols/HOU/ECT@ECT, Regina Blackshear/Corp/Enron@ENRON, Amber Ebow/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT cc: Subject: [Fwd: (no subject)] Let's pray together again! We can never pray too much, he loves to hear from us. May God bless you today and always! Love, Julissa Let's just give the devil a Holy Ghost Fit! > >> > >> Father, in the name of Jesus, bless everyone that receives this > >> message in a special way, open supernatural doors in their life > today, > >>give > >>them a > >> double portion of your Spirit as we take back everything that > the devil > >>has > >> stolen from us: > >> Health > >> Finances > >> Children > >> Jobs > >> Homes > >> Marriages, Loved Ones, Friends > >> Amen. > >> > >> Let's take time to pray. > >> Take 60 seconds and give this a shot! > >> Let's just see Satan stop this one. > >> > >> All you do is: > >> > >> 1) simply say a small prayer for the person who sent you this, > >> > >> 2) then send it on to five other people ... within hours five > >> people have prayed for you, and you caused a multitude of > people to > >> pray to God for other people... > >> > >> 3) then sit back and watch the power of God work in your life > > >

This is just to let everyone who is using the New Curve Manager in Enpower: The Curve Manager is having a problem in Terminal Server 2. (NAHOU-TRDTS2) The problem is currently being diagnosed by both the Enpower Team and Terminal Server Team in Houston. As Soon as it is fixed, I will let everyone know. For now you can use any other terminal server session (i.e. TRDTS1, or TRDTS03 - TRDTS5) for running the Curve Manager. Michael Tully Application Support, Portland (503)464-7790 Desk (503)807-7862 michael.tully@enron.com

Mike- Attached please find a first draft for your Executive Letter for the newsletter. I'm sorry that it is so sketchy. EGM is doing so much and I'm not sure what you want to focus on right now! I am afraid if I keep going, I will be way over the word count for our space allotment. Right now, there are 404 words. Please fill in where it is pertinent and monitor word count to 550. Again, I'm sorry to impose on you with this. Kathie Grabstald ENA Public Relations 713-853-9610

Hello Jeff !!! Steve asked that I forward this to you. These are the talking points and the presentation that Skilling used last week. - Pie sold separately :)

Good!! If you want to get Hollie, Lucinda, etc., to come, please feel free to do so. Is there any special place you want to go??? I have been thinking about you as well. I have your bicycle and will return it to you when you are ready for it. I can bring it on Saturday. Will it fit in your car? If not, I can drop it by after breakfast. Might need to come by anyway to see what else you have done to it. I will call Carol, too, if you don't care. -----Original Message----- From: Tana.Jones@enron.com [mailto:Tana.Jones@enron.com] Sent: Thursday, May 17, 2001 1:36 PM To: pyoung@cliverunnells.com Subject: Re: Thursday Breakfast at 10:00 sounds great! Wherever you want to go...also, I need to get my bike back from you, I might be doing some biking. I've been thinking about you. Hope all is going well. "Patti Young" <pyoung@cliverun To: "Tana Jones" <tana.jones@enron.com> nells.com> cc: Subject: Thursday 05/17/2001 05:33 PM Miss Tana, Is there a chance you might like to try to get together this weekend? I thought I would check with you first and then see if Phyllis is available. I have a hair appointment at 8 a.m. on Saturday. We could do breakfast at 10, or whatever... Let me know. Patti (

It is what I expected, Thanks Larry

---------------------- Forwarded by Phillip K Allen/HOU/ECT on 04/25/2001 01:51 PM --------------------------- Ray Alvarez@ENRON 04/25/2001 11:48 AM To: Phillip K Allen/HOU/ECT@ECT cc: Subject: Re: This morning's Commission meeting delayed Phil, I suspect that discussions/negotiations are taking place behind closed doors "in smoke filled rooms", if not directly between Commissioners then among FERC staffers. Never say never, but I think it is highly unlikely that the final order will contain a fixed price cap. I base this belief in large part on what I heard at a luncheon I attended yesterday afternoon at which the keynote speaker was FERC Chairman Curt Hebert. Although the Chairman began his presentation by expressly stating that he would not comment or answer questions on pending proceedings before the Commission, Hebert had some enlightening comments which relate to price caps: Price caps are almost never the right answer Price Caps will have the effect of prolonging shortages Competitive choices for consumers is the right answer Any solution, however short term, that does not increase supply or reduce demand, is not acceptable Eight out of eleven western Governors oppose price caps, in that they would export California's problems to the West This is the latest intelligence I have on the matter, and it's a pretty strong anti- price cap position. Of course, Hebert is just one Commissioner out of 3 currently on the Commission, but he controls the meeting agenda and if the draft order is not to his liking, the item could be bumped off the agenda. Hope this info helps. Ray Phillip K Allen@ECT 04/25/2001 02:28 PM To: Ray Alvarez/NA/Enron@ENRON cc: Subject: Re: This morning's Commission meeting delayed Are there behind closed doors discussions being held prior to the meeting? Is there the potential for a surprise announcement of some sort of fixed price gas or power cap once the open meeting finally happens?

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/06/2001 09:52 AM --------------------------- Tanya Tamarchenko 02/28/2001 01:17 PM To: Wenyao Jia/HOU/ECT, Debbie R Brackett/HOU/ECT@ECT cc: Vince J Kaminski/HOU/ECT@ECT Subject: Re: "analytical" var implementation in RisktRAC Debbie, I am forwarding to you a 2 page document describing implementation of "analytical" VAR in RisktRAC. Here is why this effort is very important: 1. We need to calculate VAR for other percentile but 5 (1% or even 0.2% as mentioned by Rick Buy) and our simulation model can not handle required number of simulations; 2. We need to present additional risk measures (such as Mean Tail Loss) to the Board. The analytical approach is implemented in a spreadsheet and fully tested already so there will be no problems with the algorithm itself. We need to get together and discuss IT implementation. What do you think? Tanya

Attached is an updated transitions list. Please review and send any changes so I can update. I will update again Thursday and will include a column for status. We are in the process of drafting procedures which will have to become a formal protocol for AEP. These are: Request for New/maintenance of counterparties. Once Web page is developed, procedures will be completed. Request for new portfolios (books) after close. Drafting procedures. Request for new employee security. Request to change curve mapping in ERMS/CPS. Drafting procedures. Also, it appears the IT service agreement may have to be amended to cover the Web pages used to push operational data to customers (If AEP wants to continue the service) and the Tariff filing system we just put into production. Also, we will need to resolve how we handle counterparties that Enron credit has request we suspend trading when AEP wants to continue trading. We have had discussions with AEP about all of these issues and procedures.

As many of you know, The University of Texas has its most significant fundraising effort underway. As a part of that effort, the Red McCombs School of Business is trying to raise $130 million which will help it to achieve its goal to become the next great business school in the world. Obviously, the Red McCombs gift of $50 million (the largest ever contributed to the University) is a big part of that effort. However, much more is needed and will only be achieved through participation by a significant number of alumni and friends of the University. On Tuesday, February 6th at 2 pm, Dean Bob May of the McCombs School will be at the Enron Building to meet with us about the School's plans and how we can participate. I am organizing this meeting for Bob and inviting all Enron officers that are UT alumni. This should be a very informal meeting with relatively few attendees (hopefully around 25 people). It will give you a chance to get to know Bob, what is going on at the Business School and how you can participate. Make no mistake. We hope the result is that you decide to support the effort. There is a unique opportunity to participate at this time because, in addition to matching funds from Enron, the McCombs gift provides for additional matching funds for contributions of a certain level. I have found that this matching provides a real opportunity to make endowment level gifts. Enron and the McCombs School have a great partnership. The company has made a significant commitment to the school's programs, we have a very significant presence on campus through our activities and support from administration and faculty, and we have enjoyed great success recruiting for a number of years. However, Enron has never successfully organized its alumni giving in a way which would allow for even greater Enron support and presence while optimizing each individual's contribution. I am hopeful that as a group of Enron officers, we can set the example of coordinated giving. Please plan to attend the meeting. It will be held in the Board Room on 50, last about an hour and refreshments will be served. Please let me or Sharron Westbrook (extension 37094) know if you can attend. Thanks.

----- Original Message ----- From: Cindy Knapp Sent: Thursday, November 15, 2001 10:51 AM To: Gobbell, Jeff Cc: Martin, Tom; Barbe, Chris Subject: Klein High Pool Hi Jeff, Becky said she faxed a request for the Klein High pool and followed up with a phone call. She was given no indication that someone else had already put in a request and our request was already on the coach's desk. The school did indicate that pool fees are going up Jan 1, 2002. I'm sure that will show up on the contract they send us. They will send the contract to Becky Miller (Oak Creek Village) and she will call me when she receives it. See you at the pool! Cindy Knapp Colony Creek Mariners

Let me know what else you need. I just gave you the blended 7X16 price - and you can do whatever averages you want! Claire

I can't do lunch this week. Why don't you plan to pay me at the Halloween party. You are a stud at picking teams. Have you been to see Brandi yet? You need to call her and set up a hair appointment, 623-4222. Bob -----Original Message----- From: Lucci, Paul T. [mailto:Paul.T.Lucci@ENRON.com] Sent: Tuesday, October 16, 2001 9:38 AM To: Williams, Bob Subject: Bob, What about me picking two winning teams last weekend. Can you send me the latest updated version of the pool. Also what about lunch later this week so I can get you your money. Tell Larry we are going to party Friday, so he better go along. Paul ********************************************************************** This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you. ********************************************************************** ****************************************************************** This email and any files transmitted with it from the ElPaso Corporation are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ******************************************************************

Joe, We shall work with Marc and Kinoshita to get it done. Also, we talked to Kiyoshi today and were very impressed. We shall show his resume to Whalley. Vince -----Original Message----- From: Hirl, Joseph Sent: Thursday, August 23, 2001 5:58 PM To: Kaminski, Vince J Subject: RE: JA Aichi Vince, This would be Kinoshita. As indicated below I would certainly like to price a live deal, get Shankman to agree and go out with an offer. Since not too big, eduction should not be too costly. Could also collar if required. If we can handle JCC and RIM then there is much available in the domestic markets. Joe -----Original Message----- From: Kaminski, Vince J Sent: Friday, August 24, 2001 7:03 AM To: Hirl, Joseph Cc: Kaminski, Vince J; Shanbhogue, Vasant; Neale, Nelson Subject: RE: JA Aichi Joe, I sent you another msg about our work on JCC. We are meeting Marc de la Roche tomorrow to discuss the JCC projects. Who is the person in Tokyo we should work with on this project? Vince -----Original Message----- From: Hirl, Joseph Sent: Wednesday, August 22, 2001 10:22 PM To: Kaminski, Vince J Cc: Thirsk, Jeremy; Kinoshita, Naoshige Subject: FW: JA Aichi Vince, Nothing like a real deal to focus our thoughts on JCC. JA Aichi is an agricultural association that purchases over 200,000kl per year of Heavy A. They would like Enron to price a JCC swap (our offer) that would help them manage their Oct 2001 to Mar 02 position as given below. I'd like to see what we could offer given the volumes and term. We can then compare with the JCC offers shown by MS. We are checking the credit of this company. It would be good to put a live deal in front of Shankman that wasn't too huge or of too long term. Concept of minimizing the cost of our education and testing our hedging strategy for JCC. Let me know if you need additional info. I presume that you are fairly far along with evaluation of JCC and that we should be able to derive an offer? If not, please let me know. If possible we'd like to send out an offer next week. thanks. Joe -----Original Message----- From: Kinoshita, Naoshige Sent: Thursday, August 23, 2001 11:29 AM To: Hirl, Joseph Subject: FW: JA Aichi Joe-San Please refer to the conversation we just had. Customer (JA Aichi) is looking for to hedge Heavy A (Low Sulphar A) with Index as follows : I am already contacting Singapore Office for Dubai Index or Singapore Gas Oil Index but not JCC. The condition is as follows: 1. Enron sells swap to JA Aichi (Financially Swap settled monthly) 2. Index : JCC 3. Period : Oct 2001 to March 2002 4. Volume : Oct 2001 : 1,000 KL ( 6,289 Barrel) Nov 2001 : 1,000 KL ( 6,289 Barrel) Dec 2001 : 5,000 KL (31,447 Barrel) Jan 2002 : 5,000 KL (31,447 Barrel) Feb 2002 : 5,000 KL (31,447 Barrel) Mar 2002 : 3,000 KL (18,868 Barrel) Total 20,000 KL (125,787Barrel) Please let me know if you need further information. Thanks / Nao Kinoshita -----Original Message----- From: Kinoshita, Naoshige Sent: Thursday, August 23, 2001 9:53 AM To: Slovenski, Richard; Wong, Hans Subject: JA Aichi Richard-San, Hans-San Hi, How are you doing ? Have received an inquiry form JA Aichi (Different from UNICOOP) in Japan as follows: In order to hedge the price of Low Sulphur A, they want to enter the swap based on Crude Oil Index or Gas Oil Index, since it has a correlation with the product. It would be very appreciated if you could give me a price as following. 1. Enron sells swap to JA Aichi (Financially Swap settled monthly) 2. Index : Dubai Crude Oil, Platts Singapore Gas Oil Reg. 0.5% 3. Period : Oct 2001 to March 2002 4. Volume : Oct 2001 : 1,000 KL ( 6,289 Barrel) Nov 2001 : 1,000 KL ( 6,289 Barrel) Dec 2001 : 5,000 KL (31,447 Barrel) Jan 2002 : 5,000 KL (31,447 Barrel) Feb 2002 : 5,000 KL (31,447 Barrel) Mar 2002 : 3,000 KL (18,868 Barrel) Total 20,000 KL (125,787Barrel) Should you have any question, please feel free to call me (81-3-5219-4629) Regards, Nao Kinoshita (Enron Japan) -----Original Message----- From: t-koshika@ja-aichi.or.jp [mailto:t-koshika@ja-aichi.or.jp] Sent: Wednesday, August 22, 2001 8:48 PM To: Kinoshita, Naoshige Subject: ???????????????? ???????A???????????????????????B ???????????????????A?????????????????????????? ?M?????????????????????????????????B ?????????????????v???????B ?????????????????????B ?P?D?X???b?v ?E???i?G?k?r?`?d?? ?E???????G?Q?O?C?O?O?O???? ?E?C???f?b?N?X?G?b?h?e?????h?o?C???????V???K?|?[???K?X?I?C???O?D?T ?E?????????G13?N10???`14?N3?? ?Q?D?V???f???o?e?B?u ?E???i?G?k?r?`?d?? ?E???????G?Q?O?C?O?O?O???? ?E?????G12???`3?? ?E?w?W?G?C???????m?????????????????N?l ?E?w?W?l???P???????????????????????_?????d???w???????????????R?X?g?????w?b?W???? ?B ?E?????I???C???P???????????w???????P?O???????????B ?s?????_???A?s?d?k???????B ?@**************************************** ?@*?@?i?`???????o???A?@?R?????@?????? * ?@*?@?@?@?@???@???@?@?@?@?? * ?@*?@TEL?@0566-98-1781?@FAX?@0566-98-4794 * ?@*?@E???[???@t-koshika@ja-aichi.or.jp * ****************************************

Hi Glen, Congratulations on your greatly enhanced homepage. As expected some links have become obsolete since March. The landscape in this business is changing very fast. Vince DIXON Glen <Glen.Dixon@qp.qld.gov.au> on 05/01/2000 09:01:45 PM To: Vince J Kaminski/HOU/ECT@ECT cc: Subject: Updated Electricity Homepage (Great Links - University of Queensl and - Australia) Hi Vince, Have a look at my homepage which I have been updating (see Energy Markets): www.acmc.uq.edu.au/~gwd/EnergyExchange.html Regards Glen Dixon Part - Time Phd Student - Department of Mathematics (University of Queensland) P.S I am hopefully attending the Australian Risk Conference where you are a speaker in July 2000 (Sydney). Hope to hear you speak. Glen W. Dixon Project Officer - Procurement Profiling Queensland Purchasing Department of Public Works "Important This electronic message and any attachments are supplied in good faith and are believed to be free of Year 2000 or other date related problems (i.e. Year 2000 compliance). The Department of Public Works forwards this message and attachments to you on the basis that you use them at your own risk. The department accepts no responsibility for damage or loss (arising from negligence or otherwise) which may occur through the use or transmission of this message and attachments and recommends that you conduct your own independent tests to determine Year 2000 compliance before use. The contents of this electronic message and any attachments are intended only for the addressee and may contain privileged or confidential information. They may only be used for the purposes for which they were supplied. If you are not the addressee, you are notified that any transmission, distribution, downloading, printing or photocopying of the contents of this message or attachments is strictly prohibited. The privilege or confidentiality attached to this message and attachments is not waived, lost or destroyed by reason of a mistaken delivery to you. If you receive this message in error please notify the sender by return e-mail or telephone. Thank you."

Start Date: 3/5/01; HourAhead hour: 12; No ancillary schedules awarded. No variances detected. LOG MESSAGES: PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001030512.txt

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/08/2001 12:10 PM --------------------------- Shirley Crenshaw 01/08/2001 11:07 AM To: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT, Pinnamaneni Krishnarao/HOU/ECT@ECT, Vasant Shanbhogue/HOU/ECT@ECT, Mike A Roberts/HOU/ECT@ECT, Joseph Hrgovcic/HOU/ECT@ECT, Tanya Tamarchenko/HOU/ECT@ECT, Zimin Lu/HOU/ECT@ECT, Martin Lin/HOU/ECT@ECT, Maureen Raymond/HOU/ECT@ECT, Osman Sezgen/HOU/EES@EES, Paulo Issler/HOU/ECT@ECT, Amitava Dhar/Corp/Enron@ENRON, Alex Huang/Corp/Enron@ENRON, Kevin Kindall/Corp/Enron@ENRON, Kevin G Moore/HOU/ECT@ECT, Clayton Vernon/Corp/Enron@ENRON, William Smith/Corp/Enron@ENRON, Jose Marquez/Corp/Enron@ENRON, Chonawee Supatgiat/Corp/Enron@Enron, Shalesh Ganjoo/HOU/ECT@ECT, Tom Halliburton/Corp/Enron@Enron, Elena Chilkina/Corp/Enron@Enron, Sevil Yaman/Corp/Enron@Enron, Sofya Tamarchenko/NA/Enron@Enron, Bob Lee/NA/Enron@Enron, Gwyn Koepke/NA/Enron@Enron, Hector Campos/HOU/ECT@ECT, Anita DuPont/NA/Enron@ENRON, Youyi Feng/NA/Enron@Enron, V Charles Weldon/HOU/ECT@ECT, Praveen Mellacheruvu/HOU/EES@EES, Li Sun/NA/Enron@Enron, Stephen Bennett/NA/Enron@ENRON, Roman Zadorozhny/HOU/EES@EES, Lance Cunningham/NA/Enron@ENRON, Leann Walton/NA/Enron@ENRON, Shane Green/HOU/EES@EES, Seksan Kiatsupaibul/HOU/EES@EES, Kate Lucas/HOU/ECT@ECT, Nelson Neale/NA/Enron@Enron, Rabi De/NA/Enron@ENRON, Kenneth Parkhill/NA/Enron@ENRON, Jaesoo Lew/NA/Enron@ENRON, Jason Sokolov/HOU/ECT@ECT, Steve Bigalow/NA/Enron@Enron, Tom Barkley/NA/Enron@Enron, Rakesh Bharati/NA/Enron@Enron cc: Subject: Research Directory Oops! Forgot the attachment! ---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 01/08/2001 11:01 AM --------------------------- Shirley Crenshaw 01/08/2001 11:05 AM To: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT, Pinnamaneni Krishnarao/HOU/ECT@ECT, Vasant Shanbhogue/HOU/ECT@ECT, Mike A Roberts/HOU/ECT@ECT, Joseph Hrgovcic/HOU/ECT@ECT, Tanya Tamarchenko/HOU/ECT@ECT, Zimin Lu/HOU/ECT@ECT, Martin Lin/HOU/ECT@ECT, Maureen Raymond/HOU/ECT@ECT, Osman Sezgen/HOU/EES@EES, Paulo Issler/HOU/ECT@ECT, Amitava Dhar/Corp/Enron@ENRON, Alex Huang/Corp/Enron@ENRON, Kevin Kindall/Corp/Enron@ENRON, Kevin G Moore/HOU/ECT@ECT, Clayton Vernon/Corp/Enron@ENRON, William Smith/Corp/Enron@ENRON, Jose Marquez/Corp/Enron@ENRON, Chonawee Supatgiat/Corp/Enron@Enron, Shalesh Ganjoo/HOU/ECT@ECT, Tom Halliburton/Corp/Enron@Enron, Elena Chilkina/Corp/Enron@Enron, Sevil Yaman/Corp/Enron@Enron, Sofya Tamarchenko/NA/Enron@Enron, Bob Lee/NA/Enron@Enron, Gwyn Koepke/NA/Enron@Enron, Hector Campos/HOU/ECT@ECT, Anita DuPont/NA/Enron@ENRON, Youyi Feng/NA/Enron@Enron, V Charles Weldon/HOU/ECT@ECT, Praveen Mellacheruvu/HOU/EES@EES, Li Sun/NA/Enron@Enron, Stephen Bennett/NA/Enron@ENRON, Roman Zadorozhny/HOU/EES@EES, Lance Cunningham/NA/Enron@ENRON, Leann Walton/NA/Enron@ENRON, Shane Green/HOU/EES@EES, Seksan Kiatsupaibul/HOU/EES@EES, Kate Lucas/HOU/ECT@ECT, Nelson Neale/NA/Enron@Enron, Rabi De/NA/Enron@ENRON, Kenneth Parkhill/NA/Enron@ENRON, Jaesoo Lew/NA/Enron@ENRON, Jason Sokolov/HOU/ECT@ECT, Steve Bigalow/NA/Enron@Enron, Tom Barkley/NA/Enron@Enron, Rakesh Bharati/NA/Enron@Enron cc: Subject: Research Directory Hello everyone: Attached is an updated copy of the Research directory for your information. If there are any changes, please let me know. Thanks! Shirley

I am forwarding a draft of the Amended Complaint in the TVA lawsuit. The "control area" causes of action have added to our existing request for declaratory relief on the "delivery point" issue. We would like to file this next week, so please review this asap. My assistant is putting together a conference call for Tues afternoon to discuss. ---------------------- Forwarded by Richard B Sanders/HOU/ECT on 12/30/99 09:10 AM --------------------------- Elizabeth Sager 12/29/99 11:59 AM To: Richard B Sanders/HOU/ECT@ECT cc: Subject: Draft Complaint ---------------------- Forwarded by Elizabeth Sager/HOU/ECT on 12/29/99 11:59 AM --------------------------- "Anna L. Surber" <Asurber@Gibbs-Bruns.com> on 12/29/99 08:50:14 AM To: Elizabeth Sager/HOU/ECT@ECT cc: Subject: Draft Complaint <<1rwh01!.WPD>> - 1rwh01!.WPD

The enclosed research report is being sent to you from PaineWebber by: Emery Financial Group 713-957-7020 rocky.emery@PaineWebber.COM Please contact them if you have any questions or would like to discuss this material. The information contained in the attached research report is believed to be reliable, but its accuracy is not guaranteed. PaineWebber Incorporated and/or Mitchell Hutchins Asset Management Inc., affiliated companies and/or their officers, directors, employees or stockholders may at times have a position, including an arbitrage position, in the securities described herein and may sell or buy them to or from customers. These companies may from time to time act as a consultant to a company being reported upon. You will need the Adobe Acrobat Reader to view this document. If you don't already have it just click on this link, http://www.adobe.com/prodindex/acrobat/readstep.html, and follow the on-screen instructions. The Acrobat Reader is free of charge. - P004548420001208D01.pdf

----- Forwarded by Mark Taylor/HOU/ECT on 11/30/2000 04:20 PM ----- Mark Taylor 11/30/2000 01:23 PM To: dmitchell@cwt.com cc: Subject: Clickpaper Guest ID ----- Forwarded by Mark Taylor/HOU/ECT on 11/30/2000 01:21 PM ----- Camille Gerard@ENRON 11/30/2000 12:22 PM To: Mark Taylor/HOU/ECT@ECT cc: Brandon Wax/HOU/ECT@ECT, Frank L Davis/HOU/ECT@ECT Subject: Clickpaper Guest ID Mark, Per Brandon's request, please use this ID for your contact to view our site. Your Username is - INTMTAYL Your password is - WELCOME. Note that both the Username and Password are CASE SENSITIVE. If you have any problems or questions, please call me at 3-6150 Thanks- Camille

Janet, don't trip me up until after January 15. ---------------------- Forwarded by David W Delainey/HOU/ECT on 01/03/2001 10:58 PM --------------------------- Janet R Dietrich 01/03/2001 08:57 AM To: David W Delainey/HOU/ECT@ECT cc: Subject: TVA Status Hey Dave. We are focused on selling our interests in the Calvert City, Ky. site now that we've successfully transferred the AES sale from Calvert City to Haywood. We have two counterparties that have shown a high degree of interest in Calvert City: Duke and Cleco. There are no issues surrounding Cleco but there may be with Duke from the following standpoint: our Calvert City site is ahead of Duke's Calvert City site in the interconnect que. Apparently, TVA erroneously did not factor in our interconnect application into their facilities study for Duke, and gave Duke an indication that there should not be material transmission upgrade costs for their plant interconnect. As both TVA and Duke now realize, our interconnect status does present a problem for Duke (and therefore TVA). We plan to talk with Duke in parallel with Cleco and I anticipate Duke then confronting TVA with the situation. I want to ensure our discussions with TVA and Duke over the next few weeks don't jeopardize our settlement with TVA. Will this settlement be closed by mid-January (thought that's what I heard)? Let me know your thoughts. Thanks.

Joe and Sarah: here's the draft bill which Senator Slade Gorton plans to introduce on reliability (same as Administration's plus the Northwest adjustments)....I am making the argument to the Senator that this is not enough, that native load issues also cause reliability problems and am asking him to add to his bill.....but, he is in a tough re-election battle (probably one of the toughest in the country) so he is acting with extreme caution. - 00012.pdf

Chicago Residents
, Natural Gas Bills Could Rise 50 Percent Source: Knight Ridder/Tribune Business News Publication date: 2000-10-03 Oct. 3--Chicago residents are likely to see their natural gas heating bills jump as much as 50 percent this season, officials with Peoples Energy Corp. said Monday. Prices for natural gas are almost double what they were a year ago, pushed upward as the nation's booming economy makes demands on a tight supply. And many electric utilities are switching from coal-fired generation plants to natural gas generation plants, adding to pressure on the supply. Natural gas prices were about $1.85 per metric thousand cubic feet at the source last year. But through July of this year, the price was $3.49 per mcf--an 89 percent increase. Those prices may translate to sticker shock when Chicago-area consumers open their bills this winter. For October 1999 through March 2000, the average Peoples Energy residential customer who uses natural gas for home heating and cooking paid $735. This season, Peoples Energy is projecting that same customer will pay $1,083, said Luis Diaz-Perez, a Peoples spokesman. "We are going to continue to communicate with our customers on ways to manage this winter's bill, whether that be through tips on economizing at home or information about payment plans and financial assistance programs," Diaz-Perez said. In July, Nicor Inc. predicted that its customers, located primarily in the Chicago suburbs, could see their bill rise by as much as $200 over last year for the same six-month period. But Nicor expects to revise that prediction upward this week, said Lee Haines, a spokesman for Nicor. Haines noted that the October gas cost for Nicor customers is 63 cents per therm, up from 51.5 cents per therm for September. And the October cost per therm is 70 percent higher than last year's cost of 37 cents per therm, Haines said. Said Marty Cohen, executive vice president of the Citizens Utility Board in Chicago: "Most consumers are unaware of what they are in for this winter. They haven't taken note that gas prices are dramatically higher than they were a year ago." Cohen suggested that consumers study the gas companies' varied payment options to determine whether spreading payments out evenly over the year would make economic sense for their families. As expensive as it's likely to be to heat a Chicago-area home this winter, prices are higher in other areas, says Donato Eassey, first vice president for natural gas research at Merrill Lynch in Houston. Nationally, Eassey said, residential prices for natural gas have escalated 88 percent over last year. "If they are only increasing 48 percent in the Chicago area, they've done a good job of keeping costs down," Eassey said. Eassey also said that even if the predicted price increases occur, the cost of natural gas is still much lower than it has been in the past. Consumers enjoyed a significant decrease in gas prices between mid-1984 and 1999, with prices on average down 2 percent or 3 percent, though the consumer price index stayed steady, Eassey noted. "We've been spoiled by cheap energy," Eassey said. "It's still the best bargain in town." But Eassey noted that rising prices appear to be encouraging gas companies to push for exploration, which in the long run could increase supply and keep the lid on prices. When prices were low, Eassey said, "we just didn't have the drill bit turning to the right often enough. There was not enough incentive to invest in new prospects." Last year, the number of rigs drilling for natural gas was 597; now the number is up to 806, a 35 percent increase, he said. Severin Borenstein, the director of the University of California at Berkeley's Energy Institute, agreed that high energy prices are likely to encourage energy companies to look for new sources of supply. "The politics are such that the higher prices are going to add fuel to the debate over drilling for fossil fuels in North America," especially in normally sacrosanct areas such as Alaska, Borenstein said.

Mark: I may be a little late tomorrow as Bill and I have a meeting with our contractor at 7:30 tomorrow morning. Carol

Mark: Please handle. Should Greenberg work on this? Mark ----- Forwarded by Mark E Haedicke/HOU/ECT on 01/10/2001 02:20 PM ----- Nora Dobin@ENRON 01/09/2001 07:13 PM To: Mark E Haedicke/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Mark Evans/Legal/LON/ECT@ECT, Bruce Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Rob Walls/NA/Enron@Enron, Jordan Mintz/HOU/ECT@ECT Subject: DealBench/Freshfields Proposal Attached please find an outline of a proposal for a business relationship between DealBench and Freshfields. Rob, Jordan and I have been considering this from a legal relationships perspective and request your thoughts on same. Tobias Munk of DealBench has been working on developing this DealBench/Freshfields relationship for a couple of months. Tobias came to DealBench from Enron London to help develop a capability to do due diligence on the DealBench platform (the dataroom product). He initiated contact with Freshfields (Hugh Crisp) before moving to Houston. DealBench has been aware that this relationship would be subject to approval by Enron legal management. The proposed relationship essentially is a business referral one: DealBench would pay Freshfields 10% of site license fees paid to DealBench by customers referred by Freshfields. Freshfields also would provide up to 100 hours of consulting services regarding the dataroom product for no additional monetary consideration but DealBench would give Freshfields exclusive recognition for helping DealBench develop the dataroom product in Europe and Asia. DealBench advises that Freshfields believes it would benefit from the publicity associated with being part of the development of an e-commerce product. The DealBench commercial team is very interested in moving forward with Freshfields. Although Freshfields cannot guarantee any referrals, DealBench believes the relationship would be fruitful for it commercially because of Freshfields' prominence in M&A transactions in Europe and Asia. Before DealBench moves further with Freshfields, it would like legal clearance. We look forward to hearing from you. Regards, NJD Nora J. Dobin Senior Counsel Enron Global Finance Enron Corp. 1400 Smith Street Houston, Texas 77002 713/345-7723 (phone) 713/853-9252 (fax) E-mail: nora.dobin@enron.com

Further to our conference call this afternoon, our plan is to proceed as follows: 1) Hemstock/Dadson to contact Tom McLaren at Government Policy Consultants to obtain advice on process to arrange meeting between senior Enron Executives and Klein, West, and Cardinal. The meeting would be to discuss steps being taken by the Alberta Government to address electricity pricing concerns. We intend to have GPC make the request on Tuesday Nov 13 with a view to the request itself attracting attention of senior government officials. 2) Hemstock/Keohane to instruct Blake Cassels & Graydon to prepare letter to Maury Parsons, Chairman of the Power Pool Council that communicates Enron's concern that approval of the rule changes proposed would offend the obligations of the PPC under the EUA and request PPC to entertain stakeholder input on these fundamental changes prior to approval, failing which we expect Enron would proceed with legal action. The letter would indicate Enron's preliminary concerns with the proposed rule changes and express a need to more fully consider the impact of the proposed changes. The letter will also emphasize that Enron is willing to work with the Power Pool to review the experience in other jurisdicitions with similar rule changes and present other options designed to address the concerns of the Power Pool respecting Alberta electricity pricing. Seabron Adamson and Derek Davies/John Zufferli will provide input on substantive concerns with the proposed rule changes. 3) Hemstock/Milnthorp to call Lorry Wilson, CEO of Power Pool, Dale McMaster COO Power Pool, Maury Parsons, Chairman, Power Pool Council, and Ron George, Power Pool Council Member prior to Blakes letter being sent to express Enron's procedural and substantive concerns with the proposed rule change. 4) Hemstock/Milnthorp to contact the following group of generation developers and encourage them to immediately contact Power Pool Council members to express concern with substance of these rule changes and the process under which they are being effected: i) Rick Kline - Chairman, Independent Power Producers Society of Alberta (Hemstock); ii) Dick Way - Vice-President, Regulatory Affairs, TransAlta (Hemstock); iii) Gary Bauer - President, Atco Power (Milnthorp); iv) Mike Broadfoot - President, Engage Energy (Milnthorp); v) Karl Johanson - Vice President, TransCanada Energy (Hemstock). 5) Hemstock/Dadson to request GPC and Enron Public Affairs consider media/government relations strategy, including potential Project Stanley impact, if Enron does proceed with legal action on this issue. Please advise if you have additional points that should be in the action plan that I have not been captured. Regards, Rob

Please put Mike on my calendar for Thursday lunch next week. Steve and Richard are coming as well. You might tell Mike that we can provide the two of them with desk space as well, but that we will reserve the spot with the computer and phone for Mike. And schedule some time for me to meet with him on Thursday as well. I will deal with Louise's meeting in another way. You might e:mail Mike and let him know that we have a spot for him with computer, network connection and phone on 33. You might also offer to set up any appointments for him while is here. Thanks. ---------------------- Forwarded by Sally Beck/HOU/ECT on 02/06/2001 01:04 PM --------------------------- Mike Jordan 02/06/2001 12:18 PM To: Sally Beck/HOU/ECT@ECT cc: Subject: Re: Various Topics Thanks for the note Great to see James - I am really warming to his style and we can do some good work on promoting a global standard for static reference data control - more to say on that next week Looking forward to Dallas and am planning to return to Houston for Wed and Thurs ( with Steve and Richard - although Richard is leaving on Wed night ( something about Valentine's night and only getting so much time away !! ) ). Thursday lunch sounds good - you know I love Mexican!! I will try to buy Shona and a few usual suspects dinner on Wednesday Speak to you soon - and good luck with the rest of the appraisals Enron Capital & Trade Resources Corp. From: Sally Beck 06/02/2001 17:24 To: Mike Jordan/LON/ECT@ECT cc: Subject: Various Topics No memo out yet on the Doorstep process. I am still in the throws of completing the 13 reviews that I have to give - should be finished by 5:00. I will send the memo on Doorstep process to you, Fernley and Michael Brown before I leave for the day. I will be in the Calgary office Wednesday and Thursday with Peggy Hedstrom and her team. Back in the Houston office on Friday. Hope that James' visit is going well. Thanks for getting appointments organized for him. I look forward to seeing you in Dallas next week. I am glad that you, Richard and Steve will be able to participate. Are you still planning to come back to Houston after the meeting in Dallas? I fly from Dallas to Austin on Tuesday night, so that I can do a full day of interviews at UT for summer interns on Wednesday. I will be back in the office on Thursday and Friday that week. Let me know if we can help in setting up any appointments. We can do lunch on Thursday or Friday, if your schedule allows. I can also set some time aside to perhaps download from our Dallas meeting and to follow up on some other issues. I would offer dinner on Thursday night, but that is my birthday and I think (hope) that my family will have dinner plans for me that evening. Is there someone else in Houston that you would like to have dinner with while you are here? --Sally

Tony Banks - 45 Drop Drew Bledsoe Mike Anderson - 45 Drop Tim Richardson Robert Chancey - 5 Drop Jake Reed Curtis Conway - 0 Drop Jerry Rice if no on Curtis - Jacquez Green - 0 if no on both - Wesley Walls - 0 By week replacements for Tennessee K & D K - 0 points Minnesota NY Giants Atlanta New Orleans D- 0 points Cleveland Philadelphia Buffalo NY Giants

Could you please send all counterparty or contract inquiries to Deal Validation, Scott Tackett? Thanks Kam -----Original Message----- From: Nelson, Doug Sent: Thursday, January 10, 2002 6:08 PM To: Keiser, Kam Subject: CounterParty Name Change Kam, I see your name on SITARA #1186462, so I am requesting help in getting the counterparty named changed from PEOPLES GAS COMPANY, to THE PEOPLES GAS LIGHT & COKE COMPANY. Please give me a call on Fri morning. Thanks, Doug x3-0560

Well, its been a long time coming...but its finally here ... WE ARE MOVING ! ? Here is our new address and telephone number. These will go into effect November 6, 2000 We have not gotten an email address yet, but when we do I will forward it ! ? We have a physical address; however, for regular mail Meade uses the P.O. Box address.? They do not deliver mail to the physical address.? If we are receiving a package then UPS will need the physical address. ? Larry and Julie Holcomb PO Box 237 503 W. Naughton Meade, KS 67864 ? 316-873-5484 ? ?

You might better wait to thank me...they haven't moved you yet.....(just kidding)... Emily Sellers Enron Transportation Services Legal 1400 Smith Street, EB4771 Houston, Tx 77001713) 853-7172 (713) 646-2738 emily.sellers@enron.com <mailto:esellers@enron.com> -----Original Message----- From: Rapp, Bill Sent: Wednesday, October 17, 2001 3:57 PM To: Sellers, Emily Subject: Re: FW: Outlook Migration for Bill Rapp Emily, Thanks for all of your help on this! Bill From: Emily Sellers/ENRON@enronXgate on 10/17/2001 03:34 PM To: Bill Rapp/HOU/EES@EES cc: Subject: FW: Outlook Migration for Bill Rapp For your information also..... Emily Sellers Enron Transportation Services Legal 1400 Smith Street, EB4771 Houston, Tx 77001713) 853-7172 (713) 646-2738 emily.sellers@enron.com <mailto:esellers@enron.com> -----Original Message----- From: ETS Information Risk Management Sent: Wednesday, October 17, 2001 3:23 PM To: Mangin, Emmanuel Cc: Sellers, Emily; Wagner, Glenda; ETS Information Risk Management Subject: Outlook Migration for Bill Rapp Emmanuel, Please schedule the Outlook migration for Bill Rapp for 10/22. He is transferring from EES to ETS. This is his info: LoginID= brapp FirstName=Bill LastName= Rapp Business Unit= ETS Date of Move=10/22 Thanks! Lupita Cantu ETS Information Risk Management 713-853-3876

I don't mind Houston or Albuquerque. Vegas is definitely out from a perception perspective. sj -----Original Message----- From: Schoolcraft, Darrell Sent: Thursday, January 10, 2002 7:18 AM To: January, Steve Subject: FW: San Juan Area Shutdown Planning Would this be something we would consider or do we need to suggest TW host in Houston. ds -----Original Message----- From: "Mathis, Charles R." <Charles.Mathis@ElPaso.com>@ENRON Sent: Wednesday, January 09, 2002 4:36 PM To: Charles Goodding; Chuck Thompson - PNM; Corina Veloz; Darrell Schoolcraft; David Campbell; Frank Gallegos; Greg Kardos; Graves, Jerry; Johnny Hunt; Lane Ayers; Ron Matthews; Stahl, Danny - Williams; Steve Flaim; Terry Hardman Subject: San Juan Area Shutdown Planning It's time to start thinking about when and where we can get together to review the maintenance that will affect the San Juan area this year. The EPNG planners will have their information from the field, and we will review it internally by the middle of February. Can we look at late Feb or early March? We did not decide who would host this year's meeting when we departed last year. If anyone wants to volunteer, please say so. We could consider meeting at a neutral location (Las Vegas has been suggested). I will coordinate our communications until someone volunteers to take the ball. Please e-mail your thoughts. Thanks, Charles R. Mathis Consultant, Western Pipelines El Paso Corporation (719) 667-7712 ****************************************************************** This email and any files transmitted with it from the ElPaso Corporation are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ******************************************************************

Over the last two weeks, the following number of people from the indicated business units have attended the SAP reporting workshops. In addition, approximately 75 people attended the reporting workshops held in London. EES 18 ENA 118 GF 7 GP 8 GPG 125 TOTAL: 276 We have continued to refine our approach to these workshops, and the responses indicate that we are doing a lot better. We asked the 276 participants: "On a scale of 1 to 10, how effectively did the workshop...... 1. Help you learn something new? 2. Increase your comfort level with extracting data ? 3. Make SAP standard reporting more useful? 4. Use activities and discussions to contribute to your learning? 5. Better prepared to do your job?" Here are the average responses, by business unit and by specific reporting workshop Overall Evaluations by Business Unit Helped Me Increased Made SAP Contributed Better Prepared BU Learn My Comfort Std. Reporting to My Me To Do Something New Level More Useful Learning My Job EES 8.28 8.17 8.17 8.28 8.61 ENA 7.58 7.12 7.38 7.63 7.21 GF 9.00 9.43 9.29 9.14 9.14 GP 8.63 8.38 8.75 9.00 8.75 GPG 7.94 7.65 7.65 7.71 7.70 Overall Evaluations by Reporting Workshop Learn Increase Reporting Contributed Better Prepared BU Curriculum Something Comfort More to My Me To Do New Level Useful Learning My Job EES AM & PS 8.67 9.00 8.33 9.00 9.00 EES AP 7.67 8.67 8.67 8.67 8.67 EES AP & AR 10.00 10.00 8.67 9.33 10.00 EES Design & Data Flow 7.78 7.11 7.78 7.56 8.00 ENA Active Excel 8.90 8.34 8.52 8.59 8.41 ENA AM 7.30 6.90 6.80 6.80 6.90 ENA AP & AR 8.88 7.88 8.38 8.50 8.50 ENA Design & Data Flow 6.15 5.80 6.27 6.60 5.80 ENA GL 8.00 8.00 7.80 8.20 7.60 ENA GL CCA & IO 8.72 8.39 8.28 8.78 8.50 GF CCA & GL 9.00 9.33 9.33 9.67 9.33 GF FX/Intercompany 9.00 9.50 9.25 8.75 9.00 GP Design & Data Flow 8.20 8.00 8.40 9.00 8.60 GP GL PCA & CCA 9.33 9.00 9.33 9.00 9.00 GPG AM & PS 8.75 8.25 8.25 8.75 8.50 GPG AP 8.70 8.70 8.70 8.40 8.50 GPG AP & AR 8.77 8.38 8.31 9.00 9.08 GPG AP CCA & IO 9.20 9.20 9.40 8.60 9.20 GPG AR 7.80 7.47 7.73 7.73 7.60 GPG Design & Data Flow 7.42 6.73 6.82 6.76 6.69 GPG GL 7.18 7.09 7.09 7.09 7.18 GPG GL & IO 7.82 7.73 7.73 7.55 7.91 GPG IC 7.80 6.80 7.60 7.40 8.00 GPG IC & CCA 7.25 9.00 6.75 8.50 8.50 GPG IM & PS 8.33 8.22 8.11 8.56 7.78 GPG IO IC & CCA 8.67 9.00 8.78 8.78 8.67 Thanks for everyone's participation and keep the feedback coming!

I'm attaching 2 book request forms for Netco East Power. One form is for 6 TAGG gas books and the other form is for approximately 25 Enpower power books. Bill and Torrey - A list will be following immediately of old book names and associated new Netco book names for each power trader. Let me know if you have any questions. Thanks! Casey 3-4361

<html> <head> <meta http-equiv="Content-Language" content="en-us"> <meta http-equiv="Content-Type" content="text/html; charset=windows-1252"> <meta name="GENERATOR" content="Microsoft FrontPage 4.0"> <meta name="ProgId" content="FrontPage.Editor.Document"> <title>Technical Analysis Class</title> </head> <body style="font-family: Arial, Helvetica, sans-serif"> <p style="TEXT-ALIGN: center" align="center"><font face="Times New Roman"><b><span style="FONT-SIZE: 24pt; COLOR: blue">Learn Technical Analysis</span></b><span style="FONT-SIZE: 15pt; COLOR: red"><br> </span><span style="font-size: 15pt"><font color="#0000FF"> Two Full Days, December 4-5, 2001</font> </span><br> <b><font face="Times New Roman"> Marriott West Loop, Houston, Texas</font></b> </p> <div align="center"> <center> <table border="0" width="90%"> <tr> <td width="100%"><b><span style="FONT-SIZE: 13.5pt; COLOR: blue"><font face="Times New Roman">Energy Traders, Marketers and Buyers.</font></span></b> <p style="TEXT-ALIGN: justify"><font face="Times New Roman">This two full day class serves as both an introduction to those new to technical analysis and a refresher for experienced traders.&nbsp;Technicals are taught in a logical, systematic manner oriented to equip both physical and paper traders to buy low, sell high and manage risk in the real world in a logical, methodical manner. &nbsp;</font></td> </tr> </table> </center> </div> <p class="MsoNormal" style="punctuation-wrap: hanging; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: 0pt" align="center">&nbsp;</p> <table border="0" width="100%"> <tr> <td width="50%"> <p class="MsoNormal" style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; punctuation-wrap: hanging" align="center"><b><font face="Times New Roman">In this class you will:</font></b></p> <ul> <li><font size="2" face="Times New Roman"> Ascertain when and how to take profit and cut losses.</font></li> <li><font size="2" face="Times New Roman"> Find out how to set up a strategy by identifying probable market direction and turns as well as likely targets using chart patterns.</font></li> <li><font size="2" face="Times New Roman"> Learn to use both traditional indicators like moving averages and stochastics, as well the state-of-the-art methods which won Cynthia Kase the coveted Market Technicians Association's &quot;Best of the Best&quot; award.</font></li> </ul> </td> <td width="50%"> <p class="MsoNormal" style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; punctuation-wrap: hanging" align="center"><b><font face="Times New Roman">Content</font></b></p> <ul> <li><font size="2" face="Times New Roman"> Charting Basics, Types of Charts, Support and Resistance</font></li> <li><font size="2" face="Times New Roman"> When to Buy or Sell (Entry Techniques)</font></li> <li><font size="2" face="Times New Roman"> When to Exit Based on Signals (Momentum and Divergence)</font></li> <li><font size="2" face="Times New Roman"> How to Exit Based on Stops (Managing Trade Risk)</font></li> <li><font size="2" face="Times New Roman"> Chart Patterns and Forecasting Basics (Candlesticks, Elliott&nbsp; Wave, Flags, etc.)</font></li> <li><font size="2" face="Times New Roman"> Statistical Hedging</font></li> </ul> </td> </tr> </table> <table border="0" width="100%"> <tr> <td width="33%"> <p align="center"><BR><b><font color="#0000FF"> Regular: $995.00<br> Two or More: $895.00</font></b></font></td> <td width="33%"> <p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center; punctuation-wrap: hanging" align="center"><a href="http://www.kaseco.com/classes/register/register_choice.htm"><b><font size="4" color="#FF0000" face="Times New Roman">*** Click Here to Register! 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Here is a copy of the original email sent to you: ______________________________________________________________________________ ___ I am contacting you on the recommendation of Pug Winokur, who is on our Board of Directors. Enron has formed an Advisory Council which consists of academicians, public policy thinkers and media, together with Enron executives. I would like to invite you to address the group on E-Commerce issues at our next meeting (Friday, September 8th in Houston). Attached is a list of our Advisory Council members. I think you will find this group interesting and thought provoking. Please contact me at your earliest convenience at 713-853-1586. __________________________________________________________________________ DEBORAH: Please fax me Mr. Pandit's bio. My fax number is 713-646-8160. Also, would you email his presentation when you have it available. Most presenters use Power Point - but if you have different needs, please give me a call at 713-853-1808. The person to email the presentation to is Russell Mitchell. His email address is russell.mitchell@enron.com Thanks for your assistance.

Vince: I am very enthusiastic about your interest and possible contributions towards a 22nd Century human blood system. I have attached a letter that discusses the endeavor. Please note that it has a built-in automatic release in the event you need to terminate. It has a confidentiality statement as well. If it is acceptable, please sign it and fax it back to me at 713 965 2114 at your earliest convenience. Al Arfsten - Kaminski Acceptance 011601.doc

Earlier this week, the House passed S. 1937 which authorizes BPA to sell wholesale electric power to joint operating entities whose members were BPA customers as of January 1, 1999. Those groups would then be barred from re-selling the power. The bill is now headed to the White House for the President's signature. A copy of the engrossed bill passed by both the House and Senate is attached. Please feel free to contact us should you have any questions.

---------------------- Forwarded by Jane M Tholt/HOU/ECT on 02/26/2001 11:44 AM --------------------------- From: Matthew Lenhart on 02/23/2001 03:11 PM To: Frank Ermis/HOU/ECT@ECT, Steven P South/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, Jane M Tholt/HOU/ECT@ECT, Mike Grigsby/HOU/ECT@ECT, Tori Kuykendall/HOU/ECT@ECT, Keith Holst/HOU/ECT@ect, Monique Sanchez/HOU/ECT@ECT, Paul T Lucci/NA/Enron@Enron, Randall L Gay/HOU/ECT@ECT cc: Subject: Fortune Article ---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 02/23/2001 03:09 PM --------------------------- To: Matthew Lenhart/HOU/ECT@ECT, Eric Bass/HOU/ECT@ECT, Bryan Hull/HOU/ECT@ECT, Luis Mena/NA/Enron@Enron cc: Subject: Fortune Article ---------------------- Forwarded by Timothy Blanchard/HOU/EES on 02/22/2001 04:45 PM --------------------------- Enron Energy Services From: Timothy Blanchard 02/22/2001 04:24 PM Phone No: 713-853-4755 To: AIP cc: Subject: Fortune Article The article just discussed on CNNfn.

PREBON Both Phil's deals have been changed to buys already, and Mike is entering the AEP sale right now. Thanks, kate Evelyn Metoyer@ENRON 04/09/2001 02:30 PM To: Kate Symes/PDX/ECT@ECT cc: Subject: 4/9 Checkout AMEREX WEST All deals are o.k. PREBON Phil Platter deal 574394 Prebon show as a sell.....enpower has buy Phil Platter deal 574395 Prebon show as a sell.....enpower has buy Mike Swerzbin I am missing the following deal: Enron sells to AEP Cal'02 NP-15 25 mw at $132.00 peak hrs. BLOOMBERG All deals are o.k.

Clint , ? I am an executive recruiter that specializes in the energy trading area. I have an opportunity with NRG Energy in Minneapolis . I am seeking a person to act as portfolio manager for all of the firms assets in ERCOT . Supervise 3 traders . Trade the market . Optimize the generation portfolio . This is a key role in a rapidly expanding organization . Salary/bonus is competitive with industry standards . Please let me know if you might be interested . My phone is 941-488-8516 email is dan703@home.com ? ?????????????????????????????? Dan Coughlin

I will assume that you can retrieve e-mail by now. Below is a recent development, as you have asked to be kept apprised. It is the draft, still subject to comment, on how to allocate transmission import capacity into Italy for 2001. Important, as it is our main (nearly only) source of physical power to satisfy deals we have originated. What appears below is Alfredo's summary. Recognise that English is not his first language (probably his fourth), so it is a bit difficult to follow first time through. mcs ---------------------- Forwarded by Mark Schroeder/LON/ECT on 15/08/2000 18:07 --------------------------- Alfredo Huertas 15/08/2000 16:58 To: Riccardo Bortolotti/LON/ECT@ECT, Marco Lantieri/LON/ECT@ECT, Paul Mead/LON/ECT@ECT, Marco De Angeli/LON/ECT@ECT, Peter Heydecker/LON/ECT@ECT, Paul Mead/LON/ECT@ECT cc: Mark Schroeder/LON/ECT@ECT, Joe Gold/LON/ECT@ECT Subject: New import capacity rules in Italy The new delibera by the Authority outlines the methodology for the allocation of import capacity in 2001. Full details should be necessarily developed in full by the TSO by 30 Sept 2000. Find below, an apetizer for tomorrow's conference call. Main features 1. The Delibera asks the TSO to reach a compromise with neighbouring TSOs in order to render the allocation "firm" and "deep", that is, to ensure that agents who obtain import capacity into Italy receive a transparent and non-discriminatory treatment by these foreign TSOs. In case of disagreement, the Italian TSO will proceed autonomously with its own allocation (which is the current status). 3. Allocation procedure: iterative auction. Clearing price "seems" to be Pay-As-You-Bid, but the drafting is not conclusive. 4. No Letter of Credit or Declaration of Neighbouring TSOs, or Supply Contract with end-customer required to agents participating in the auction. This has been replaced by a Letter of Intention per consumption point (which expresses interest for the capacity requested). 5. 80 (20) percent of ATC for 2001 to be allocated annually (monthly). Bids before 30 Sept 2000 (90 days before the start of each month). Bidding block is 10 MW, at non-decreasing prices. 6. Antitrust thresholds: 20 percent of ATC per border and per agent, 10 percent of total ATC per agent. The thresholds are applicable both to the amount requested, and/or the amount allocated. Main concerns 1. Any substantial progress with respect to the 2000 situation depends on the ability of the Italian TSOs to fulfill its mandate of reaching a co-ordinated allocation with neighbouring TSOs. The Delibera does not provide any idea on how the Italian TSO may exercise its leverage to find a successful solution (eg, making co-ordination more profitable for foreign TSOs? Curtailing the level of import capacity in case of disagreement such that foreign TSOs wheel less volumes/possibly make less money? Is money the issue or perhaps, leaving us outside the game?) 2. The alternative in case of disagreement (that is, unilateral allocation of 50 percent of the ATC) makes no sense. If there is not an agreement (as it happened in 2000), allocating only 50 percent unilaterally does not solve anything. Actually, it could make things worse by removing some pressure by agents who got allocated 100 percent of the capacity on the Italian side, over foreign TSOs (as happened this year). As drafted, the Delibera makes the Italian TSO to accept whatever allocation the foreign TSOs decide for their 50 percent, without requesting a reciprocal treatment for the 50 percent capacity allocated by the Italian TSO!!! This could have been an interesting "carrot" for the Swiss if properly articulated. 3. The details of the auction procedure contain several loopholes and inconsistencies. Some clarification will be needed by the Autorita, and we will need to send asap a list of all unclear definitions. 4. Only one letter of intention as in 4 above per consumption point. This means the consumer gets tied up with a single supplier before the allocation takes place. 5. Spot purchases by TSO still opaque. In some circumstances, this is being favourable to us, so let's consider if we want to say anything here. 6. Lack of any reference to secondary trading of capacity. Not prohibited, but not proposed or explicitly outlined. 7. The "Pay-as-you-Bid" criteria makes less attractive Paul/Marco's proposed deal structure with ELES for sales into Italy. More tomorrow, a.

The following is the understanding I have with Chris Calger regarding Scott Healy's involvement in East Power initiatives: Since Auburndale is effectively dead, Scott will no longer be involved on this project. Scott will support the Haywood, Georgia, & Calvert City development site sales through Q1 2001, with East Power getting 100% of the P&L value and Scott Healy getting personal performance credit. If Ben elects to continue to use Scott's services beyond Q1 2001, a value sharing agreement between Ben, Calger and myself will have to be agreed upon. Jeff Ader will make a decision (after consultation with me) as to Scott's continued involvement on the fuel cell tax monetization and Dighton restructuring project. If Jeff makes the decision that Scott needs to remain actively involved in order to close the transaction, a value sharing agreement will be made between Jeff, Calger, and myself. The value allocation % will be agreed upon upfront within the next week. If a fair value sharing agreement cannot be reached, Jeff will transition responsibility to another member of his origination team. Chris - Do you agree with the above description?

Meeting to discuss projects identified to improve risk processes and systems a.k.a. Project Green Light. Please find attached a draft of the Vision document. I'd appreciate comments/inputs. Thanks. - Tom

paperloop.com MONTERREY, Mexico, Aug. 30, 2001 (Reuters) - Mexican paper company Grupo Industrial Durango (Gidusa) said on Thursday it will reopen a plant in western Mexico after ending a four-month-old labor dispute. The plant of affiliate Compania Industrial Atenquique was closed in April due to high labor costs, representing 25% of production compared with 8-10% at other plants. The plant produces 132,000 tonnes/yr of paper.

Tanya: I faxed the prior credit worksheet (from 5/16/00) to you last week. Aaron Armstrong in London is asking for the draft ISDA. Have you had a chance to review the old credit? Please let me know if I can help. Thanks. Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) sara.shackleton@enron.com ----- Forwarded by Sara Shackleton/HOU/ECT on 05/31/2001 03:04 PM ----- Sara Shackleton 04/20/2001 02:27 PM To: Tanya Rohauer/Enron@EnronXGate cc: Rod Nelson/LON/ECT@ECT Subject: Morgan Stanley Capital Services Inc. ("MSCI") and ENA Tanya: Our FX/currency traders in London need an ISDA with MSCI. Rod prepared a credit work sheet on 6/16/00. The negotiations never went anywhere. MSCI has now sent their form of agreement. Do you want to propose new credit or use the existing credit from last year? Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) sara.shackleton@enron.com

We are looking into setting up an electronic approval process for reference credits and counterparties. This would be based on a platform such as Livelink. The idea is that when traders and originators would need an approval, they would enter the name (and a few other details) into an electronic document which upon submission would be automatically despatched to the relevant groups for approval, i.e., Credit and Legal. For a name to be approved, both groups would need to give their approval. For this process to work efficiently, we need to be sure that each request is seen by at least one relevant person in each group. For the time being these persons are: Credit: Bill Bradford Debbie Brackett Rod Nelson Legal: Mark Taylor Could you please be kind and confirm that these names are relevant and add a few more if necessary (which it is for Legal). Many thanks Tomas

To follow is a message regarding practice interviews offered by Accenture. THIS IS NOT AN AVENUE TO A JOB WITH ACCENTURE, rather, you're helping the company to develop their interview process and train their recruiters. So if you volunteer, please don't put the press on these people . . . Accenture is looking for seven individuals to serve as experienced practice interviewees at our San Francisco office on Thursday, May 24th. The session will be held from 1pm-5pm, and lunch will be served. In addition to earning $50, participants will be reimbursed for their travel expenses to and from the session. Participants will: Meet with Accenture executives to conduct practice interviews. Receive feedback from real interviewers. Get paid $50 plus round trip transportation expenses. Criteria : Individuals in any master's degree program with a 3.0 GPA and 2+ years of work experience. Interested students should email resumes to Christina Roemer at christina.roemer@accenture.com. Resumes will be reviewed and potential participants will be contacted via telephone. Then a confirmation for participation will be sent via email with specific information regarding the session. ***NOTE: These interviews are for PRACTICE PURPOSES ONLY and have no bearing on future interviewing and/or employment opportunities with Accenture.*** Christina Roemer Accenture - St. Charles, IL People Enablement - Training Operations, Conduct & Support Phone: 1.630.444.5449 VPN: 49/45449 Email: christina.roemer@accenture.com It's a great chance to buff up your skills-- Jenny Account Representative, MBA Recruiting Haas School of Business, UC Berkeley T 510-643-4212 F 510-643-5257 E rowe@haas.berkeley.edu SanFran Grad.doc

Attached is the weekly status report regarding ENA Litigation.

I assume you have taken care of this and Jim is available immediately ---------------------- Forwarded by Stanley Horton/Corp/Enron on 04/23/2001 08:13 AM --------------------------- Robin_Border@eott.com on 04/20/2001 08:24:43 AM To: Jim_Suttle@eott.com cc: Gary_Wright@eott.com, Robert_Sanford@eott.com, Jim_Davis@eott.com, Stan_Horton@eott.com Subject: Re: Davis' time commitment As you heard Stan Horton say y'day, he will get Jim Davis cleared to work on our TxNMx Quality Management Project pronto. Jim, thanks for good presentation and excellent footwork leading to it. Jim Suttle To: Robin Border/Houston/Eott@Eott, Gary Wright/Houston/Eott@Eott 04/14/01 cc: 07:26 PM Subject: Davis' time commitment Jim Davis was advised Friday that he should not spend any development time on the Jal project until it has cleared ETS planning group. Jim will make the tour Monday but will then be unavailable to us on this project until this instruction is changed or the project makes it through channels. Jim indicated that he received this instruction from Rick Johnson and Mr. Martin, (didn't get the first name). Mr. Martin reports to Phil Lowry. Jim Suttle

Bad gas/electric news ----- Forwarded by Susan J Mara/NA/Enron on 12/05/2000 05:05 PM ----- US Publishing <daily@restructuringtoday.com> 12/05/2000 12:31 PM Please respond to daily To: "RT Reader" <daily@restructuringtoday.com> cc: Subject: Restructuring Today, Tuesday December 5, 2000 (see attached file: rt001205.pdf) Thank you, Season Hawksley US Publishing 1-800-486-8201 www.restructuringtoday.com season@restructuringtoday.com - rt001205.pdf

Jeff and Bob, At Tradition's request, I put together a one-page explanation of CAISO Firm Energy. I thought you might find it handy to have it to hand when discussing this with counterparties. ----- Forwarded by Shari Stack/HOU/ECT on 08/07/2000 03:57 PM ----- Shari Stack 08/07/2000 03:56 PM To: kkelly@tfsbrokers.com@ENRON cc: Kerri Thompson/Corp/Enron@Enron Subject: Re: FW: CAISO Energy vs. "Schedule C" Here is the explanation for CAISO Firm Energy. As discussed, if asked, please tell people that it was prepared by a market participant at Tradition's request. I'd rather keep Enron's name out of it. Thank you in advance for helping us with this. Shari

FYI ----- Forwarded by Mark E Haedicke/HOU/ECT on 08/25/2000 05:36 PM ----- Christine Whitehead <CWhitehead@ISDA-EUR.ORG> 08/25/2000 08:33 AM To: Keith Bailey <KBailey2@exchange.ml.com>, Douglas Bongartz-Renaud <douglas.bongartz-renaud@nl.abnamro.com>, Diane Genova <genova_diane@jpmorgan.com>, Henning Bruttel <Henning.Bruttel@dresdner-bank.com>, Mark E Haedicke/HOU/ECT@ECT, S,bastien Cahen <sebastien.cahen@socgen.com>, Tim Fredrickson <Tim.Fredrickson@ubsw.com>, Jerry del Missier <jerry.delmissier@barclayscapital.com>, Jose Manuel Hernandez-Beneyto <jhb1@bancosantander.es>, George James <gjames@ms.com>, Damian Kissane <damian.kissane@db.com>, Thomas Montag <tom.montag@gs.com>, Jonathan Moulds <jonm@crt.com>, Kazuhiko Koshikawa <Kazuhiko_Koshikawa@sanwabank.co.jp>, Dennis Oakley <dennis.oakley@chase.com>, Ravit Mandell <ravit.e.mandell@ssmb.com>, "Dr. Rober Mark" <Bob.Mark@cibc.ca>, Ernest Patrikis <ernest.patrikis@aig.com>, Maurits Schouten <maurits.schouten@csfb.com>, Luciano Steve <lsteve@bci.it>, Teruo Tanaka <teruo.tanaka@ibjbank.co.jp>, Steve Targett <steve_targett@nag.national.com.au> cc: Subject: European Energy Committee Meeting, 11th September Please see attached. Kind regards, Christine Whitehead P A to Nick Collier <<memo to ERDreMtg 11Sep.doc>> <<agenda for 11Sep mtg.doc>>

Guys, how are the business units doing on the "talent pipeline" since we have put this on auto-pilot? Is HR still providing resumes? Regards Delainey

do you mean you changed it to PPT - it looks like that's what's in there already... Kerri Thompson@ENRON 03/01/2001 09:04 AM To: Kate Symes/PDX/ECT@ECT cc: Subject: ch deal 534053 to ppt

Thanks. Bought Travelocity.com. I had some extra cash sitting around in my 401K. DG

I think this should work for the group (including Mark and Shari) Taffy Milligan 03/09/2000 05:28 PM To: Susan Bailey/HOU/ECT@ECT, Susan Flynn/HOU/ECT@ECT, Marie Heard/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Shari Stack/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT cc: Suzanne Adams/HOU/ECT@ECT, Erica Braden/HOU/ECT@ECT, Kaye Ellis/HOU/ECT@ECT, Taffy Milligan/HOU/ECT@ECT, Becky Tlucek/HOU/ECT@ECT Subject: SWAP Group Meeting - 3/21/00 I've been asked to coordinate a SWAP Group Meeting when all the attorneys will be here. How does Tuesday, March 21 at 3:00 p.m. work? (EB38c2) Please advise, as soon as possible. Also attached is a revised version of the SWAP Group Calendar for March & April.

I got a message from Mike regarding the PPA's and PDA's and he and Dave are currently working on revising the PPA's and will have something this afternoon. It seems like the PDA's will take a little longer. Thanks Ben