URGENT AND CONFIDENTIAL ,
 Attached is a memo to ESA employees that Diomedes and I have been working 
on.  I don't think there will be any concerns except for the section in 
bold.  It does admit that we are looking at the potential sale of some 
assets, although the message is softened up quite a bit.  Will it cause 
widespread panic or live up to our vision and values that communication is 
good.  Please review and comment ASAP.  This memo will be the basis for 
preparing Jim to go on e-speak, although we will NOT specifically address the 
potential asset sale issue there except in an answer to a question.
james.bannantine@enron.com, diomedes.christodoulou@enron.com