Status of Project Hitchcock ,
 Rod: 

I am following up on our recent meeting concerning Project Hitchcock.  We have made good progress on a number of the issues, and believe it now makes sense to get the following steps underway:


 Meet with Keith Harris (and other appropriate Wessex management) to provide an overview of the project, its benefits, and the steps required to implement.  
Initiate a property cost-segment study, which will be required to determine more precisely the available U.S. tax depreciation.

As you would expect, we will need some additional assistance from Wessex if we are to make this project work.  We continue to work on several other issues in parallel, but feel that it makes sense at this point to get the two highlighted steps underway.

 Would you please offer your advice as to the best method for moving forward?

 Regards,

         Dave
rod.hayslett@enron.com