Organizational Changes ,
 Given the evolution of a number of our businesses, we have decided to make =
an=20
organizational change.  The change is in response to a number of factors. =
=20
First, as a part of our new initiative in Enron Net Works, it is becoming=
=20
clear that we have the opportunity to quickly expand Enron=01,s underlying=
=20
business model to other commodity markets.  Such an expansion requires a=20
coordinated focus on strategy as we select and develop these opportunities.=
 =20
Second, the success of EnronOnline and the continued expansion of our=20
wholesale activities in North America and Europe have increased the=20
coordination requirements across our North American and European operations=
. =20
As a result of these two factors, we are making the following organizationa=
l=20
changes effective immediately:

Cliff Baxter will move from Enron North America to Enron Corp. as Executive=
=20
Vice President and Chief Strategy Officer.
Mark Frevert will become Chairman and CEO of North America, replacing Cliff=
. =20
In addition, Mark will remain Chairman of Enron Europe.=20
John Sherriff will become President and CEO of Enron Europe.

We are confident that these changes will increase the effectiveness of our=
=20
organization.  Please join us in congratulating Cliff, Mark and John on the=
ir=20
new responsibilities.
enron.worldwide@enron.com