RE: ETS Employee Letter ,
 John,
     Just one suggestion. I think it's still unclear as to why we needed to file CH.11.  In the first paragraph, final sentence, could we change it to read "These actions were necessary to ensure that our loans would not be called by the banks due to the cross defaults, and to preserve the value in our core energy business".

Dan 

 -----Original Message-----
From: 	Ambler, John  
Sent:	Sunday, December 02, 2001 9:22 PM
To:	Horton, Stanley; McCarty, Danny; Fossum, Drew
Cc:	Smith, Gary
Subject:	ETS Employee Letter

Gary Smith and I developed the attached, draft letter to employees.  Your review and comments would be appreciated.

 << File: HortonETSletter1202.doc >>
john.ambler@enron.com, stanley.horton@enron.com, drew.fossum@enron.com