ENE/DYN ,
 Greg,

I know this has been a tough couple of weeks for you but I thought I would drop you a line and share my impressions:

1). This deal is an ideal opportunity to merge back and mid office support platforms. We have discussed this many times and EnronNetworks was practically set up for this (CommodityLogic et al...)
 
2). I don't know what you folks have in mind but I could see leaving ENE's market making and trading structure intact and having DYN's asset-based trading be just another business unit like EES was. but the key is the tremendous cost savings of the common support platform.

I don't mean to be presumptuous but I hadn't talked to you in a while and wanted to get it off my chest.

Good luck,
Andy
greg.whalley@enron.com