Message-ID: <5582823.1075851723207.JavaMail.evans@thyme>
Date: Thu, 1 Feb 2001 15:49:00 -0800 (PST)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: EnTouch Newsletter
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Enron Announcements
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BUSINESS HIGHLIGHTS

Industrial Markets
Enron Industrial Markets announced Tuesday, January 30, 2001, that it has=
=20
signed a definitive agreement with Daishowa North America Corporation to=20
purchase Daishowa Forest Products Ltd., a holding company for its Quebec=20
City, Canada newsprint mill and related assets.

West Power Origination
ENA West Power commenced construction on its 225MW Fountain Valley Power=20
Project.  The project, located in Colorado Springs, has an 11-year fixed=20
price PPA with Public Service of Colorado and is being funded off-balance=
=20
sheet in the Turbopark funding vehicle.   The west power origination team=
=20
anticipates closing the sale of the project to a third party in the second=
=20
quarter.

Lumber Origination and Trading
From an origination standpoint, the group has executed a number of long-ter=
m=20
financial and physical transactions since March 2000.  The lumber group has=
=20
grown to 10 people including 3 physical/cash lumber traders with a combined=
=20
total of 50 years industry experience.  Currently they are trading 1500-200=
0=20
transactions per month.  Additional cash traders by Q2 will substantially=
=20
enhance the cash desk.  Financial trading activities include both derivativ=
e=20
transactions and a substantial position in the futures market.  Increased=
=20
liquidity in both financial and physical trading will lead to more structur=
ed=20
transactions.

Competitive Analysis and Business Controls
Enron America's eSource, Enron's premier corporate-wide research group,=20
launched their new intranet product, eSearch, on December 8, 2000.  In that=
=20
time, there have been over 108,000 hits on the eSearch site. eSource's=20
researchers have assisted hundreds of employees across business units with =
a=20
wide variety of projects.  We have provided our customers with information=
=20
essential to entering a new market: industry analysis and overviews, and=20
insight into the people running a company and their policies.  We do whatev=
er=20
it takes to help our customer gain a competitive advantage.

eSource is promoting various research databases by featuring training=20
sessions and vendor presentations. We are currently working with additional=
=20
vendors to bring Enron employees customized sites and additional resources.=
 =20

Employees can use the web site (http://esource.enron.com) to conduct their=
=20
own research or as a vehicle to submit research requests.  eSource's=20
researchers and industry specialists are available to all Enron business=20
units to provide timely and cost-efficient research, to work with individua=
ls=20
or groups to fulfill one time research requests, or to design ongoing,=20
customized monitoring projects or news updates.

Principal Investments
The Principal Investments Group completed two investments totaling $14.6=20
million in the fourth quarter of 2000 in the following companies:

Tridium, Inc.: a framework, software and services company whose main produc=
t=20
is used in the building automation, industrial automation and energy=20
management markets.  Enron Energy Services is an important customer and use=
s=20
Tridium's Niagara Framework(TM) to remotely monitor and control the energy=
=20
infrastructure at over 10,000 client sites. =20

iMedeon, Inc.: a leading provider of web-based workforce commerce solutions=
=20
designed to enable and optimize mobile workforce operations, and to make=20
customer service a competitive advantage.

20
She is also a 1995 and 2000 World Cup Gold Medallist.


Message-ID: <29082863.1075855480753.JavaMail.evans@thyme>
Date: Wed, 15 Nov 2000 10:22:00 -0800 (PST)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: Ameriflash Newsletter
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Enron Announcements
X-To: All_ENA_EGM_EIM
X-cc:
X-bcc:
X-Folder: \Frank_Ermis_Dec2000\Notes Folders\Discussion threads
X-Origin: Ermis-F
X-FileName: fermis.nsf

BUSINESS HIGHLIGHTS

Coal Trading
The liquidity in trading of the Standard European Coal Agreement has=20
increased significantly over the last 6 weeks.  Many counterparties that=20
previously opted to stay on the sidelines finally chose to join the game.=
=20
Since the contract's inception at the beginning of the year, Enron has trad=
ed=20
a total of 5.3 million tons against the SECA contract, of which 3.8 million=
=20
tons has been traded via EnronOnline since July 2000.  We are 5.3 million=
=20
tons of a total traded market of 5.8 million tons.

Principal Investments
Tridium Inc., the leading provider of Internet-based automation=20
infrastructure solutions, announced the close of a $20 million round of=20
capital funding. The funds will be used to increase Tridium=01,s sales and=
=20
technical support offices in North America, expand its operations into Euro=
pe=20
and Asia, and enhance its technology and products. kRoad Ventures, L.P. and=
=20
Enron North America each contributed $10 million in venture capital.

Corporate Development
Allegheny Energy Supply Company, LLC, a wholly owned subsidiary of Alleghen=
y=20
Energy, Inc., announced the signing of a definitive agreement under which=
=20
Allegheny Energy Supply will purchase three Enron natural gas-fired merchan=
t=20
generating facilities. The acquisition is expected to close in the 2nd=20
quarter of 2001.

PERFORMANCE REVIEW

The deadline to provide feedback is Friday, November 17.  If you have been=
=20
selected to provide feedback on one of your fellow employees, please take t=
he=20
time to fill out an evaluation online at www.pep.enron.com.

IN THE NEWS

"Enron Corp., already North America's biggest, buyer and seller of natural=
=20
gas and electric power is dead serious about its efforts to capture a big=
=20
slice of the $400 billion global trade in pulp, paper and lumber."
-Reuters News Service

2000 CHAIRMAN=01,S AWARD NOMINEES
Please join us in congratulating the ENA/EIM/EGM/ employees who have been=
=20
recognized as Chairman=01,s award nominees.

Congratulations to:

 Irma Alvarez  Alan Aronowitz  Rick Bergseiker  Carol Coats  Joya Davis =20
Rufino Durante
 Sue Foust  Julie Gomez  Barbara Gray  Jackie Griffith  John Harrison  Gerr=
i=20
Irvine
 Kathy Benedict  Michael Kelley  Mike McConnell  Dave Nommensen Ina Norman =
=20
Juan Padron
 Veronica Parra  Michael Roberts  Rhonda Robinson Kevin Sweeney  Helen=20
Taylor  Stacey White

Extra kudos to BARBARA GRAY, who is a finalist for the 2000 Chairman=01,s=
=20
Award.  Barbara and ten other individuals are flying to San Antonio from=20
around the world to be honored at Enron=01,s annual Management Conference. =
 One=20
of these finalists will be recognized as the 2000 Chairman=01,s Award winne=
r.=20

WELCOME
New Hires ENA/EIM/EGM
ENA =01) Anil Chandy, Alejandra Chavez
EGM =01) Marty Cates, JoAnne Underwood, Brad Miller

Transfers to ENA/EIM/EGM
ENA =01) Mark Wadlington, Jennifer Blay-Smith, Georgian Landau, Kathryn Bus=
sell,=20
John Coleman, Steven Gillespie, Clarissa Garcia, Ina Rangel, Farouk Lalji,=
=20
Eva Rainer, Chuchu Wang, Smith Day
EGM =01) Gloria Solis, Carmella Jones, Nancy Haralson

LEGAL STUFF
The information contained in this newsletter is confidential and proprietar=
y=20
to Enron Corp. and its subsidiaries.  It is intended for internal use only=
=20
and should not be disclosed outside of Enron.


Message-ID: <9864358.1075848055914.JavaMail.evans@thyme>
Date: Fri, 26 Jan 2001 08:56:00 -0800 (PST)
From: eric.benson@enron.com
To: richard.shapiro@enron.com, james.steffes@enron.com, steven.kean@enron.com
Subject: Western Energy Markets Stuggle Along - CERA Monthly Briefing
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Eric Benson
X-To: Richard Shapiro, James D Steffes, Steven J Kean
X-cc:
X-bcc:
X-Folder: \Steven_Kean_June2001_3\Notes Folders\California
X-Origin: KEAN-S
X-FileName: skean.nsf

below is an article on California for your review - Eric

++++++++++++++++++++++

----- Forwarded by Eric Benson/NA/Enron on 01/26/2001 04:58 PM -----

=09webmaster@cera.com
=0901/26/2001 02:48 PM
=09=09=20
=09=09 To: insights@cera.com
=09=09 cc:=20
=09=09 Subject: Western Energy Markets Stuggle Along - CERA Monthly Briefin=
g

Title: Western Energy Markets Stuggle Along
URL: http://www20.cera.com/eprofile?u=3D35&m=3D2220

Western Market Overview

As the California power crisis remains unresolved and blackouts in Californ=
ia
have gone from threat to reality, the western gas and power markets grow
increasingly distorted by the perceived risk of selling energy to Californi=
a=01,s
two largest utilities. Normal power plant operations and power pricing=20
dynamics
have been supplanted with federal mandates to deliver power to California, =
and
power basis differentials are being influenced by credit risk. Regional
hydroelectric supplies have been drawn down at abnormally rapid rates to me=
et
current demand such that, in the absence of increased precipitation through=
out
the West, suppliers will be unable to depend heavily on hydroelectric outpu=
t=20
in
February and later in the year. Gas suppliers are growing increasingly wary
about shouldering the increased risk.

Natural gas and power prices have declined from December=01,s record levels=
,
driven in part by January-to-date weather that has been warmer than normal.
Although Topock gas prices remain above the $10 per million British thermal
units (MMBtu) level, basis differentials to the Henry Hub have declined
dramatically from a premium over Henry Hub prices of $15 per MMBtu in Decem=
ber
to an average of $5.00 per MMBtu in January. Demand levels will likely hold
near January levels during February, as the already intense pull of gas for
power generation continues. Because storage levels in California remain low=
,
the California citygates will be exposed to temporary price spikes during
spells of cold weather. Differentials for February are expected to average
$0.65 to $0.75 per MMBtu, in the Rocky Mountains and San Juan producing bas=
ins
during February, $0.65 per MMBtu at AECO, and $3.00 per MMBtu at Topock.

Power prices in January have followed both the decline in gas prices and th=
e
shift to warmer weather. However, there is growing unease in the power mark=
ets
with the dry precipitation season to date. A significantly lower-than-avera=
ge
hydroelectric season would permeate through the power markets for all of 20=
01,
placing gas-fired generation on the margin virtually the entire year. CERA =
has
incorporated a lower-that-average view of hydroelectric generation into its=
=20
gas
and power analyses. February on-peak power prices are expected to average=
=20
$140=01)
$166 per megawatt-hour (MWh) in February, depending on location, but tempor=
ary
price spikes are likely as California reserves reach critically low levels =
and
the independent system operator (ISO) struggles to secure enough power to k=
eep
the lights on. Off-peak power prices are also expected to remaining strong,
averaging $94=01)$135 per MWh in February, depending on location.

Regional Power Market Drivers: Low Precipitation Threatens Already Difficul=
t
2001

Disappointing levels of precipitation have raised the specter that the 2001
power markets will be plagued by a below-average hydroelectric year.=20
Season-to-
date precip


Message-ID: <28519087.1075858521940.JavaMail.evans@thyme>
Date: Thu, 28 Jun 2001 11:36:52 -0700 (PDT)
From: p..o'neil@enron.com
To: alan.comnes@enron.com, james.steffes@enron.com, ray.alvarez@enron.com
Subject: RE: Underscheduling Penalty--CONFIDENTIAL
Cc: c..hall@enron.com, susan.mara@enron.com, dave.perrino@enron.com,
	tim.belden@enron.com, chris.stokley@enron.com
Mime-Version: 1.0
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Content-Transfer-Encoding: 7bit
Bcc: c..hall@enron.com, susan.mara@enron.com, dave.perrino@enron.com,
	tim.belden@enron.com, chris.stokley@enron.com
X-From: O'Neil, Murray P. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=MONEIL>
X-To: Comnes, Alan </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Acomnes>, Steffes, James </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Notesaddr/cn=afb3d0fa-ccb03d20-86256962-56fda5>, Alvarez, Ray </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Notesaddr/cn=ebe4476b-2d94882a-86256a14-75ff3b>
X-cc: Hall, Steve C. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Shall4>, Mara, Susan </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Notesaddr/cn=8a20ece9-992cf340-8625697d-7146e9>, Perrino, Dave </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Notesaddr/cn=13e30736-7885e1b0-86256a31-56095b>, Belden, Tim </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Tbelden>, Stokley, Chris </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mstokle>
X-bcc:
X-Folder: \Stokley, Chris (Non-Privileged)\Chris Stokley\Murray
X-Origin: Stokley-C
X-FileName: Stokley, Chris (Non-Privileged).pst

Alan,

This is a very valid question and one which was asked by Steve Hall about 6 weeks ago.  We have been working with the ISO the get the following information.

Based on the latest information provided by the ISO Client Reps.  Enron would be eligible for receiving part of the Allocation.  There were some questions regarding this in the past because, the tariff was written in our favor to receive part of this allocation but the Settlement documentation by the ISO did not represent the same.

Per John Gooden at the ISO

The CT 1480 is used to allocate the revenues received by the ISO through CT 480.  Such revenues will be allocated to the SCs with a positive Uninstructed Demand Deviation and to those with a negative Uninstructed Demand Deviation with a magnitude less than or equal to 5% of the metered Demand.  These SCs will receive revenues based on the ratio of each SC's metered demand to the sum of all such SCs metered demand in the control area.

Chris Stokley has placed a request with the ISO to provide us with information indicating how much of this has been allocated to Enron.  If they are truly calculating this today they should not have any problems providing this information.

If you have any additional questions please let me know.

Thanks - MO

 -----Original Message-----
From: 	Comnes, Alan
Sent:	Wednesday, June 27, 2001 2:56 PM
To:	Steffes, James; Alvarez, Ray
Cc:	Hall, Steve C.; Mara, Susan; Perrino, Dave; O'Neil, Murray P.; Belden, Tim
Subject:	Underscheduling Penalty--CONFIDENTIAL

The Calif. EOB has released information on the size of the FERC-approved, tracked, but-as-yet-unimplemented underscheduling penalty.

See the attached PDF file, especially the figures in the attachment at the end.

The total liability for PG&E and SCE is approaching $1billion. (EOB says that DWR is off the hook but I am not sure that is true.)

As a generally balanced SC, Enron would likely be eligible for some of these proceeds.  How the proceeds would be allocated is less than fully clear.  MURRAY O'NEIL: Have you seen anything on who would receive the revenues from this tracking A/C if it were to be billed and paid?)

Also the probability of ever extracting these $s out of noncreditworthy counter parties must be taken into account.

Alan Comnes

 << File: EOB Request for Rehearing June 14.pdf >>


Message-ID: <2819519.1075842801052.JavaMail.evans@thyme>
Date: Thu, 31 May 2001 17:25:00 -0700 (PDT)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: EnTouch Newsletter
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Enron Announcements
X-To: All_ENA_EGM_EIM
X-cc:
X-bcc:
X-Folder: \Gerald_Nemec_Dec2000_June2001_2\Notes Folders\All documents
X-Origin: NEMEC-G
X-FileName: gnemec.nsf

BUSINESS HIGHLIGHTS

Enron Industrial Markets=20
The Transaction Development group (TD) is responsible for corporate=20
development, transaction execution and portfolio management activities with=
in=20
EIM.  TD is responsible for asset and corporate acquisitions to support EIM=
=01,s=20
efforts in the Forest Products and Steel industries.  TD works with EIM=01,=
s=20
Forest Products and Steel Origination groups to structure and execute compl=
ex=20
transactions for EIM=01,s customers.  TD also manages EIM=01,s equity inves=
tments,=20
such as EIM=01,s ownership position in Papier Masson, Ltee, a paper mill in=
=20
Quebec, Canada.

TD is comprised of approximately 20 professionals with a wide range of=20
backgrounds including investment banking, commercial banking, management=20
consulting, law, project development, accounting and engineering.  In=20
addition, the majority of the analysts and associates within EIM work in TD=
=20
since it provides a strong base of deal experience for junior members of ou=
r=20
organization. =20

Enron Freight Markets
Enron Freight Markets has continued to expand the transportation services=
=20
offered to its customers and completed several flatbed truck moves outbound=
=20
from Georgia this week.  There was a shortage of flatbed equipment supply i=
n=20
this market and EFM was able to obtain more than three times the normal=20
margin on each move.

      =20
IN THE NEWS

"Enron's bilateral internet trading platform, EnronOnline, was launched in=
=20
November 1999 and is the largest e-commerce site on the planet based on the=
=20
value of its transactions.  As EPRM went to press, it had average daily=20
trading volume of $3.5 billion, accounting for nearly 50% of the company's=
=20
revenues from wholesale marketing activities." -- Energy Power Risk=20
Management, May 2001

WELCOME
New Hires
EIM   - Cheryl Lindeman
ENA  - Chris Bystriansky, Paula Craft, Eugene Lee, Bhalachandra Mehendale,=
=20
Sarah Wooddy

Transfers (to or within)
ENA - Grace Taylor, Steven Irvin, Dina Snow

NUGGETS & NOTES

Enron is hosting the Chicago Energy Risk Management Seminar at The Drake=20
Hotel in Chicago on June 14, 2001.  Topics include: Power Outlook, Natural=
=20
Gas Outlook, Hedging Strategies, Weather Risk Management and Pulp and Paper=
=20
Risk Management. The RSVP deadline is June 8th so please contact Laura Pena=
=20
as soon as possible at x 3-5376.  This is a great event for "new" as well a=
s=20
established customers.  There will be a cocktail reception immediately afte=
r=20
the presentations.  Enron will also be hosting seminars in Atlanta, Houston=
,=20
Denver and San Francisco.  Dates to be announced soon.

Travel tip of the week:
Flights reserved through Travel Agency in the Park provide you with $150,00=
0=20
of flight insurance at no additional charge.

EnronOnline Statistics
Below are the latest figures for EnronOnline as of May 29, 2001.

* Total Life to Date Transactions >  1,015,000
* Life to Date Notional Value of Transactions > $610 billion

NEWS FROM THE GLOBAL FLASH

Enron arranges first gas pipeline import into Italy
Enron has continued its pioneering activities in the Continental gas market=
=20
by arranging the first gas import into Italy.  The Italian team worked with=
=20
the Continental Gas desk to arrange this strategically important agreement=
=20
with Blugas SpA., the wholesale gas company formed by the municipalities of=
=20
Cremona, Lodi, Mantova and Pavia in north-eastern Italy.  Enron has sourced=
=2


Message-ID: <17544848.1075848190763.JavaMail.evans@thyme>
Date: Fri, 1 Jun 2001 01:00:00 -0700 (PDT)
From: ann.schmidt@enron.com
Subject: Enron Mentions
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: Ann M Schmidt
X-To:
X-cc:
X-bcc:
X-Folder: \Steven_Kean_June2001_4\Notes Folders\Discussion threads
X-Origin: KEAN-S
X-FileName: skean.nsf

Democrats Prepare to Duel Bush Over Energy Price Caps in West
The Wall Street Journal, 06/01/01

Electricity Trading Is Target of State Probe Regulation: A special Senate
panel is investigating alleged price manipulation of power transactions.
Los Angeles Times, 06/01/01

Companies Rush to Purchase Their Indian Units, Boosting Share Prices of
Concerns With Foreign Ties
The Wall Street Journal, 06/01/01

Exxon, Shell Poised to Win Saudi Deals --- They Appear Favored To Lead Key
Projects In Coveted Gas Sector
The Wall Street Journal, 06/01/01

NEW PACKAGE TO RESOLVE DPC, INDIA'S MSEB SITUATION: OFFICIAL
Asia Pulse, 06/01/01

GLOBAL INVESTING: Betting on better times for utilities
Financial Times; Jun 1, 2001

INTERNATIONAL ECONOMY, MIDDLE EAST & AFRICA: Hopefuls await details of Saudi
gas deal Financial Times; Jun 1, 2001

FITCH PLACES INDIA ON NEGATIVE RATING OUTLOOK ON FISCAL CONCERNS
Asia Pulse, 06/01/01

Thomas E. White becomes Secretary of the Army
M2 Presswire, 06/01/01

Some light at last!
The Economic Times, 06/01/01

Calif. investigations focus on whether out-of state wholesalers manipulated
energy prices
Associated Press Newswires, 06/01/01

California Lawmakers Eye Billing Businesses for Edison Rescue
Dow Jones Business News, 05/31/01

Construction of power plant in DeSoto County is underway
Associated Press Newswires, 05/31/01

Politics & Policy
Democrats Prepare to Duel Bush Over Energy Price Caps in West
By John Harwood and Jeanne Cummings
Staff Reporters of The Wall Street Journal

06/01/2001
The Wall Street Journal
A16
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -- If you talk to economists, many will say President Bush is on
solid ground in opposing caps on soaring electricity prices in California and
elsewhere. But if you talk to voters, many will suggest he has political
problems.
And now that Democrats control the U.S. Senate, they are poised to make those
problems a lot worse.
Mr. Bush got a taste of what is coming in his widely touted showdown with
California Gov. Gray Davis in Los Angeles this week. The Republican president
repeated his familiar argument that capping wholesale electricity prices
would do nothing to curb demand or increase the supply of power for
California. But the Democrats' Mr. Davis, fortified by polls showing that 70%
of Californians favor price caps, managed to get equal billing during Mr.
Bush's visit for his argument that they are needed to keep the state from
slipping into recession and threatening the national economy in the process.
Because Sen. Jim Jeffords of Vermont left the Republican Party last week and
changed control of the Senate, Democrats now have a more effective national
platform to press the same arguments -- and to threaten Mr. Bush's political
standing beyond the already hostile turf of California. The incoming chairman
of the Senate Energy and Natural Resources Committee, Democratic Sen. Jeff
Bingaman of New Mexico, says he plans to move soon on legislation capping
prices for California and other Western states, a bill that has attracted
some GOP support as well.
"I think it's clear to anybody that the prices being charged for wholesale
power are excessive," said Sen. Bingaman, in an interview while he was
heading toward California on a fact-finding mission. "I don't believe it's
going to be adequate to get us through this summer, to just continue saying
that eventually supply will come into line with demand and the problems will
be resolved."
Meantime, the incoming chairman of the Permanent Subcommittee on
Investigations,

70 cents on the dollar for their back
bills right away,


Message-ID: <17314827.1075859809653.JavaMail.evans@thyme>
Date: Thu, 17 May 2001 15:52:00 -0700 (PDT)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: EnTouch Newsletter
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Enron Announcements
X-To: All_ENA_EGM_EIM
X-cc:
X-bcc:
X-Folder: \Mark_Haedicke_Jun2001\Notes Folders\All documents
X-Origin: Haedicke-M
X-FileName: mhaedic.nsf

BUSINESS HIGHLIGHTS

Enron Industrial Markets
Enron Industrial Markets announced the signing of definitive agreements wit=
h=20
Huntco, Inc. under which over a 15-year period Enron will provide inventory=
=20
price risk management services and will eventually provide more than 600,00=
0=20
tons per year of hot-rolled, cold-rolled and galvanized steel products to=
=20
Huntco Steel.  The agreements provide Enron access to Huntco=01,s network o=
f=20
steel distribution centers nationwide.  The agreements also provide for Enr=
on=01,
s acquisition of Huntco=01,s cold rolling and certain coil pickling operati=
ons=20
in Blytheville, Arkansas.

These transactions with Huntco have the potential to fundamentally change t=
he=20
way steel is bought and sold in the United States.  It gives Enron immediat=
e=20
access to physical steel and positions Enron geographically to serve the=20
steel industry in a variety of ways.  In addition to providing physical=20
products on both a spot and term basis, EIM=01,s goals for the steel indust=
ry=20
include developing commodity risk management products, providing structured=
=20
finance products and establishing the market-making capabilities that Enron=
=20
has brought to the natural gas, power and other commodity markets.

Enron North America-Upstream Products
Upstream Products has partnered with Duke Energy Field Services (DEFS) to=
=20
close a 20-year NGL exchange and transportation deal with Formosa=20
Hydrocarbons and Williams Energy Field Services to handle raw make product=
=20
from the Williams Markham plant. Formosa Hydrocarbons is building a 40,000=
=20
BPD fractionator to handle this and other Gulf Coast NGL production.  The=
=20
accompanying pipeline will be known as the Seabreeze pipeline system and wi=
ll=20
be constructed by DEFS. Texas Brine LLC will provide NGL storage services f=
or=20
Formosa Hydrocarbons on this system. Primary production for this system is=
=20
coming from the Boomvang Nansen field in the deepwater GOM and will be the=
=20
first deepwater GOM production to come onshore in Texas.=20
Upstream Products has also worked to arrange a 20-year transportation lease=
=20
agreement on the Dean Pipeline (owned by TEPPCO) for refinery grade propyle=
ne=20
service to be utilized by Formosa Plastics. Coupled with this transaction,=
=20
Enron Clean Fuels has entered into a propylene storage agreement with Formo=
sa=20
Plastics to utilize ECF=01,s Mt. Belvieu storage facilities.  In addition, =
Enron=20
Global Markets has been able to amend its current transportation agreement=
=20
with TEPPCO to prematurely terminate a take-or-pay obligation and realize=
=20
additional transportation revenues from interim NGL production coming from=
=20
the Williams Markham to be delivered to Mt. Belvieu. =20
Upon close, Upstream Products was monetized out of its initial position by=
=20
DEFS and retained a risk-free net profits position on the Seabreeze Pipelin=
e=20
going forward for an additional 20,000-40,000 BPD of excess capacity on the=
=20
system.
ENA West Power
Southwest Power, an ENA affiliate, signed a 222MW 15-year tolling agreement=
=20
with Allegheny Energy Supply for all of the output of Southwest's Las Vegas=
=20
expansion project, scheduled for completion in September, 2002.  With the=
=20
tolling agreement done and construction underway, the project will now be=
=20
marketed to qualified generators.

IN THE NEWS

=01&To truly understand Enron=01,s Jeffrey Skilling =01) the hypersmart,=20
hyperconfident


Message-ID: <30701850.1075848207070.JavaMail.evans@thyme>
Date: Thu, 26 Apr 2001 10:16:00 -0700 (PDT)
From: alan.comnes@enron.com
To: jeff.dasovich@enron.com, angela.schwarz@enron.com, beverly.aden@enron.com,
	bill.votaw@enron.com, brenda.barreda@enron.com,
	carol.moffett@enron.com, cathy.corbin@enron.com,
	chris.foster@enron.com, christina.liscano@enron.com,
	craig.sutter@enron.com, dan.leff@enron.com,
	debora.whitehead@enron.com, dennis.benevides@enron.com,
	don.black@enron.com, douglas.huth@enron.com, edward.sacks@enron.com,
	eric.melvin@enron.com, erika.dupre@enron.com, evan.hughes@enron.com,
	fran.deltoro@enron.com, gayle.muench@enron.com,
	ginger.dernehl@enron.com, gordon.savage@enron.com,
	harold.buchanan@enron.com, harry.kingerski@enron.com,
	iris.waser@enron.com, james.steffes@enron.com, james.lewis@enron.com,
	james.wright@enron.com, jeff.messina@enron.com,
	jeremy.blachman@enron.com, jess.hewitt@enron.com,
	joe.hartsoe@enron.com, karen.denne@enron.com, kathy.bass@enron.com,
	kathy.dodgen@enron.com, ken.gustafson@enron.com,
	kevin.hughes@enron.com, leasa.lopez@enron.com,
	leticia.botello@enron.com, mark.muller@enron.com,
	marsha.suggs@enron.com, marty.sunde@enron.com,
	meredith.eggleston@enron.com, michael.etringer@enron.com,
	michael.mann@enron.com, michelle.cisneros@enron.com,
	mpalmer@enron.com, neil.bresnan@enron.com, neil.hong@enron.com,
	paul.kaufman@enron.com, paula.warren@enron.com,
	richard.zdunkewicz@enron.com, richard.leibert@enron.com,
	richard.shapiro@enron.com, rita.hennessy@enron.com,
	roger.yang@enron.com, rosalinda.tijerina@enron.com,
	sandra.mccubbin@enron.com, sarah.novosel@enron.com,
	scott.gahn@enron.com, scott.stoness@enron.com, sharon.dick@enron.com,
	skean@enron.com, tanya.leslie@enron.com, tasha.lair@enron.com,
	ted.murphy@enron.com, terri.greenlee@enron.com, tim.belden@enron.com,
	tony.spruiell@enron.com, vicki.sharp@enron.com,
	vladimir.gorny@enron.com, wanda.curry@enron.com,
	william.bradford@enron.com, kathryn.corbally@enron.com,
	jubran.whalan@enron.com, triley@enron.com, richard.sanders@enron.com,
	robert.williams@enron.com, greg.wolfe@enron.com,
	dirk.vanulden@enron.com, steve.walker@enron.com,
	jennifer.rudolph@enron.com, martin.wenzel@enron.com,
	douglas.condon@enron.com, wgang@enron.com, sgovenar@govadv.com,
	hgovenar@govadv.com, jklauber@llgm.com, mike.smith@enron.com,
	john.neslage@enron.com, janel.guerrero@enron.com,
	eric.letke@enron.com, gfergus@brobeck.com,
	michael.tribolet@enron.com, robert.frank@enron.com,
	susan.mara@enron.com, mike.swerzbin@enron.com,
	michael.driscoll@enron.com, matt.motley@enron.com,
	robert.badeer@enron.com, diana.scholtes@enron.com,
	sean.crandall@enron.com, chris.mallory@enron.com,
	jeff.richter@enron.com, tom.alonso@enron.com, mark.fischer@enron.com,
	phillip.platter@enron.com, carla.hoffman@enron.com,
	steve.hall@enron.com, christian.yoder@enron.com,
	tim.heizenrader@enron.com, stephen.swain@enron.com,
	ray.alvarez@enron.com, elliot.mainzer@enron.com, bill.iii@enron.com,
	paul.kaufman@enron.com, james.steffes@enron.com,
	phillip.allen@enron.com, mike.grigsby@enron.com, don.black@enron.com,
	neil.bresnan@enron.com, dennis.benevides@enron.com,
	jess.hewitt@enron.com, louise.kitchen@enron.com,
	john.lavorato@enron.com, greg.whalley@enron.com,
	richard.shapiro@enron.com, steven.kean@enron.com,
	linda.robertson@enron.com, rebecca.cantrell@enron.com,
	leslie.lawner@enron.com, rcarroll@bracepatt.com,
	sarah.novosel@enron.com, mark.palmer@enron.com,
	susan.landwehr@enron.com
Subject: FERC's 4/26/01 Order on California Price Mitigation
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Alan Comnes
X-To: Jeff Dasovich, Angela Schwarz, Beverly Aden, Bill Votaw, Brenda Barreda, Carol Moffett, Cathy Corbin, Chris H Foster, Christina Liscano, Craig H Sutter, Dan Leff, Debora Whitehead, Dennis Benevides, Don Black, Douglas Huth, Edward S

Jeff Dasovich, Angela Schwarz, Beverly Aden, Bill Votaw, Brenda Barreda, Carol Moffett, Cathy Corbin, Chris H Foster, Christina Liscano, Craig H Sutter, Dan Leff, Debora Whitehead, Dennis Benevides, Don Black, Douglas Huth, Edward Sacks, Eric Melvin, Erika Dupre, Evan Hughes, Fran Deltoro, Gayle W Muench, Ginger Dernehl, Gordon Savage, Harold G Buchanan, Harry Kingerski, Iris Waser, James D Steffes, James W Lewis, James Wright, Jeff Messina, Jeremy Blachman, Jess Hewitt, Joe Hartsoe, Karen Denne, Kathy Bass, Kathy Dodgen, Ken Gustafson, Kevin Hughes, Leasa Lopez, Leticia Botello, Mark S Muller, Marsha Suggs, Marty Sunde, Meredith M Eggleston, Michael Etringer, Michael Mann, Michelle D Cisneros, mpalmer@enron.com@ENRON, Neil Bresnan, Neil Hong, Paul Kaufman, Paula Warren, Richard L Zdunkewicz, Richard Leibert, Richard Shapiro, Rita Hennessy, Roger Yang, Rosalinda Tijerina, Sandra McCubbin, Sarah Novosel, Scott Gahn, Scott Stoness, Sharon Dick, skean@enron.com@ENRON, Tanya Leslie, Tasha Lair, Ted Murphy, Terri Greenlee, Tim Belden, Tony Spruiell, Vicki Sharp, Vladimir Gorny, Wanda Curry, William S Bradford, Kathryn Corbally, Jubran Whalan, triley@enron.com@ENRON, Richard B Sanders, Robert C Williams, Greg Wolfe, Dirk vanUlden, Steve Walker, Jennifer Rudolph, Martin Wenzel, Douglas Condon, wgang@enron.com@ENRON, Scott Govenar

20
that CAISO must become a real RTO would support the notion that CAISO must


Message-ID: <28596862.1075855653879.JavaMail.evans@thyme>
Date: Fri, 20 Apr 2001 10:08:00 -0700 (PDT)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: EnTouch Newsletter
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Enron Announcements
X-To: All_ENA_EGM_EIM
X-cc:
X-bcc:
X-Folder: \Peter_Keavey_Jun2001\Notes Folders\All documents
X-Origin: Keavey-P
X-FileName: pkeavey.nsf

BUSINESS HIGHLIGHTS

Enron Industrial Markets
Metal Bulletin - Iron and Steel Awards for 2000
Pushiest Entrant: Enron, the US commodity trading company, which promised i=
t=20
would revolutionize the steel business by offering futures in hot rolled co=
il=20
via its online market place.

The EIM Fundamentals Analysis group is excited to announce that Dave Allan=
=20
has joined as a Director, responsible for all Forest Products lines.  He=20
comes to EIM with 20 years of experience in the Forest Products industry, o=
f=20
which 14 were spent at Abitibi and 6 with Pulp and Paper Week.  Please join=
=20
us in welcoming Dave.

The Siebel Team (=01&The Force=018) continues to work towards program=20
implementation of its customer management system in early May, with trainin=
g=20
to begin at the end of April.  Stay tuned for updates.

Enron Global LNG
Enron Global LNG is positioning itself to be a creator and leader of a glob=
al=20
wholesale LNG market.  The rising prices of natural gas in the United State=
s=20
and concerns over future energy supplies have created a bullish outlook for=
=20
LNG in the U.S. and around the globe.   LNG has played a major role in=20
serving energy needs in many parts of the world, but its place in the U.S.=
=20
energy picture has been limited. An LNG market that spans the globe can=20
supply vast amounts of otherwise stranded gas to the world=01,s growing app=
etite=20
for cleaner burning fuels.   Enron Global LNG sees great opportunity for=20
Enron=01,s wholesale energy business model to help shape yet another energy=
=20
market.

IN THE NEWS

Enron Corp. Says First-Quarter Profit Rose 20 Percent=20
Houston, April 17 (Bloomberg) -- Enron Corp., the largest energy trader, sa=
id=20
first-quarter profit rose 20 percent as sales almost quadrupled. Profit fro=
m=20
operations rose to $406 million, or 47 cents, from $338 million, or 40 cent=
s,=20
in the year-earlier period.  Enron raised its 2001 profit forecast to $1.75=
=20
to $1.80 a share, from its January projection of $1.70 to $1.75.

First-quarter revenue surged to $50.1 billion from $13.1 billion as Enron=
=20
boosted the volume of power sold in North America by 90 percent. Enron had =
a=20
first-quarter gain of $19 million, or 2 cents a share, for an accounting=20
change, making net income $425 million, or 49 cents a share. There were no=
=20
charges or gains in the year-earlier period. =20

WELCOME
New Hires
EGM - Janelle Russell,=20
EIM   - David Allan, Sylvia Carter
ENA  - Sasha Divelbiss, Amy Quirsfeld, Judy Zhang, Annette Thompson, Kelly=
=20
Donlevy-Lee, Grant Patterson

Transfers (to or within)
ENA =01) William Abler, Magdalena Cruz, Barbara Taylor, James Reyes, Marvin=
=20
Carter, Angel Tamariz, Jesse Bryson
EIM =01) Cassandra Dutton, Christine Sullivan, Camille Gerard, Sherri Katho=
l,=20
Jennifer Watson
EGM =01) Steven Batchelder

LEGAL STUFF
The information contained in this newsletter is confidential and proprietar=
y=20
to Enron Corp. and its subsidiaries.  It is intended for internal use only=
=20
and should not be disclosed.


Message-ID: <473510.1075844568771.JavaMail.evans@thyme>
Date: Fri, 22 Sep 2000 04:05:00 -0700 (PDT)
From: sara.shackleton@enron.com
To: brent.hendry@enron.com
Subject: Enron Net Works
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Sara Shackleton
X-To: Brent Hendry
X-cc:
X-bcc:
X-Folder: \Sara_Shackleton_Dec2000_June2001_1\Notes Folders\Sent
X-Origin: SHACKLETON-S
X-FileName: sshackle.nsf

----- Forwarded by Sara Shackleton/HOU/ECT on 09/22/2000 11:04 AM -----

=09Office of the Chairman@ENRON
=0904/07/2000 05:46 PM
=09=09
=09=09 To: All Enron Worldwide
=09=09 cc:=20
=09=09 Subject: Enron Net Works

=09ENRON=20
=09

It is becoming increasingly clear that the development of eCommerce will ha=
ve=20
a significant and continuing impact on the conduct of business in a broad=
=20
array of industries.  Through EnronOnLine, Enron has quickly become a major=
=20
catalyst for the transition to the web in the gas and electric industries. =
=20
EnronOnLine has been an enormous success since its launch.  Since launch, w=
e=20
have completed 67,043 transactions on line, with a total dollar value of ov=
er=20
$25 billion.  EnronOnLine is now the largest eCommerce site in the world.

We believe that the competitive success of EnronOnLine is due to one very=
=20
specific reason.  In addition to providing a web-based platform for=20
transactions, Enron acts as principal to provide direct liquidity to the=20
site.  We stand ready at all times, in any market conditions, to buy and se=
ll=20
at the posted price.  This converts a =01&bulletin board=018 (the more typi=
cal=20
eCommerce concept) into a true market.  There are very few, if any,=20
competitors that can provide this capability.

We are increasingly convinced that this competitive advantage can be=20
dramatically expanded to other products and other geographies.  If we are=
=20
correct, this could provide an enormous new opportunity for growth for Enro=
n.

Accordingly, we are initiating a major new effort to capture this=20
opportunity.  Effective today we are creating a new business, Enron Net=20
Works, to pursue new market development opportunities in eCommerce across a=
=20
broad range of industries.  It is likely that this business will ultimately=
=20
be our fifth business segment, joining transmission & distribution,=20
wholesale, retail and broadband services.

Included in this business will be our entire IT and technology group along=
=20
with significant talent and resources in market making and finance. =20
Initially, North America will provide primary direct support for staff=20
services and back office, however, over time we will be requesting support=
=20
services from virtually all Enron units to ensure continued growth and=20
success.  To facilitate the combining of commercial capabilities with these=
=20
new eCommerce platforms, Enron Net Works will work closely with the merchan=
t=20
functions of North America, Europe, South America, CALME, Asia and Broadban=
d.

Enron Net Works will be headed by Greg Whalley, Chief Executive Officer; Mi=
ke=20
McConnell, Chief Operating Officer; and Jeff McMahon, Chief Commercial=20
Officer.  These individuals will comprise the Office of the Chairman for=20
Enron Net Works and remain on the Executive Committee of Enron Corp. =20
Replacing Greg Whalley as President and Chief Operating Officer of Enron=20
North America is Dave Delainey, who will also join Enron=01,s Executive=20
Committee.

Global Technology will remain intact but will now be a part of Enron Net=20
Works.  It will maintain all of the same businesses and services as it did =
as=20
an Enron global function.  Philippe Bibi will remain the Chief Technology=
=20
Officer for all of Enron Corp. and continues to be responsible for the=20
development of worldwide technology standards and platforms.

EnronOnLine, headed by Louise Kitchen, will also remain intact and will now=
=20
be a part of Enron Net Work


Message-ID: <16921856.1075863715560.JavaMail.evans@thyme>
Date: Thu, 29 Jun 2000 04:46:00 -0700 (PDT)
From: office.chairman@enron.com
To: esop.a.@enron.com
Subject: EnronOptions - Your Stock Option Program
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Office of the Chairman
X-To: ESOP All Enron N. A.
X-cc:
X-bcc:
X-Folder: \Scott_Neal_Jun2001\Notes Folders\Miscellaneous
X-Origin: Neal-S
X-FileName: sneal.nsf

It is amazing and yet not surprising how much Enron has accomplished in the=
=20
first six months of this year. You continue to make it happen.  We recogniz=
e=20
that you work hard every day to accomplish Enron=01,s business goals, and w=
e are=20
pleased that many of you have shared in the company=01,s financial success=
=20
through Enron stock options.=20

As you may know, the current employee stock option program (also known as t=
he=20
All Employee Stock Option Program or AESOP) began in 1994 and provided valu=
e=20
to participants through 2000.  Employees who have participated in this=20
program from its inception have realized a 1,119% increase in the value of=
=20
their stock options (assuming a stock price of $70) over the life of the=20
program.  =20

Enron stock options are a valuable part of your total compensation package=
=20
and a contributing factor to your performance and to Enron=01,s continued=
=20
success.  Therefore, the Enron Executive Committee and the Compensation and=
=20
Management Development Committee of the Enron Board of Directors have decid=
ed=20
to continue to offer stock options as a part of your compensation package.

On May 1, 2000, the Committee approved an employee stock option program for=
=20
calendar years 2001 - 2005 (EnronOptions =01) Your Stock Option Program).  =
It is=20
expected that EnronOptions =01) Your Stock Option Program will be granted,=
=20
effective on or about December 29, 2000, for those employees who are eligib=
le=20
on that date (please see note below).  The new program, which is subject to=
=20
final approval by Enron=01,s Board of Directors, is as follows:

? EnronOptions =01) Your Stock Option Program will give stock options to=20
eligible full-time and part-time regular employees in domestic and=20
international companies/locations.
? The grant of non-qualified stock options will equal 25% of annual base=20
salary (5% of annual base salary for each year of a 5-year period) on=20
December 29, 2000. (Salary calculation and value may vary in some=20
international locations.)
? The Board will grant the stock options on December 29, 2000.
? Eligible employees hired in subsequent years will receive a prorated gran=
t=20
of stock options.

Why commit your talent and energy to Enron?  EnronOptions =01) Your Stock O=
ption=20
Program, among other good reasons=01( that=01,s why.

In the coming weeks, you will be receiving more details about EnronOptions =
=01)=20
Your Stock Option Program.  To provide information and answer your question=
s,=20
we will introduce a special link on the Human Resources web-site, host=20
several eSpeak sessions and continue to communicate with you on a regular=
=20
basis.  In the meantime, if you have immediate questions, please contact yo=
ur=20
Human Resources representative.=20

Note: In addition to final approval by Enron=01,s Board of Directors, grant=
ing=20
of options will be subject to New York Stock Exchange and state and federal=
=20
regulatory requirements.  It is expected that EnronOptions =01) Your Stock=
=20
Option Program will be available to most Enron employees; however, some Enr=
on=20
companies=01, employees may not be eligible due to legal, accounting, tax, =
labor=20
or business issues.  As you know, Enron changes to meet the needs of the=20
marketplaces we serve.  Given that need to change, we will continue to refi=
ne=20
the eligibility for EnronOptions =01) Your Stock Option Program and will=20
communicate more details throughout the year wi

Office of the Chairman
ESOP All Enron N. A.


Message-ID: <6708865.1075841069801.JavaMail.evans@thyme>
Date: Wed, 23 Jan 2002 16:13:24 -0800 (PST)
From: jerocha@ev1.net
To: m..love@enron.com
Subject: Re: PayPal payment
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: "Jaime Rocha" <jerocha@ev1.net>@ENRON
X-To: Love, Phillip M. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=PLOVE>
X-cc:
X-bcc:
X-Folder: \ExMerge - Love, Phillip M.\Deleted Items
X-Origin: LOVE-P
X-FileName: phillip love 6-25-02.PST

did this change recently?  I have done several....3-5 transactions without a
problem.  I understood the verification only mattered if I ever transacted
an agregate of $1000.  I will double check that, but you should not have a
problem getting the funds.

Jaime
----- Original Message -----
From: "Love, Phillip M." <Phillip.M.Love@ENRON.com>
To: <rocjai@studmail.stcl.edu>
Sent: Wednesday, January 23, 2002 8:27 AM
Subject: PayPal payment

FYI - not sure if you know this yet, but you need to become verified on
PayPal before your payment can go through.  This usually entails you getting
the two amounts from your bank account that they drafted - usually pennies.
Once you are verified, I will receive the funds and I will mail out the
cube.  Thanks.
PL

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at enron.messaging.administration@enron.com and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************


Message-ID: <8570067.1075853197381.JavaMail.evans@thyme>
Date: Mon, 11 Dec 2000 10:25:00 -0800 (PST)
From: wendy.labuda@clyde.co.uk
To: britt.davis@enron.com
Subject: SANTA CLARA
Cc: richard.b.sanders@enron.com, daniel.r.rogers@enron.com,
	alan.aronowitz@enron.com, becky.zikes@enron.com
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
Bcc: richard.b.sanders@enron.com, daniel.r.rogers@enron.com,
	alan.aronowitz@enron.com, becky.zikes@enron.com
X-From: Wendy.Labuda@clyde.co.uk
X-To: Britt.Davis@enron.com
X-cc: Richard.B.Sanders@enron.com, Daniel.R.Rogers@enron.com, Alan.Aronowitz@enron.com, Becky.Zikes@enron.com
X-bcc:
X-Folder: \Richard_Sanders_Oct2001\Notes Folders\All documents
X-Origin: Sanders-R
X-FileName: rsanders.nsf

Britt

I would summarise the main facts/status of this matter as follows:

(1)  Enron voyage chartered "SANTA CLARA" from Exmar N.V. by a C/P dated
5.2.91
to carry cargo of 4,200 mt 5% more or less at owner's option of propane, from
Houston to Dunkirk.  Under the Charterparty Enron had the option to load cargo
either fully refrigerated or ambient or chilled.

(2)  On 26th February 1991 the Master advised Enron that the maximum quantity
that the cargo could load at ambient temperature was 3,760 mt having regard to
the vessel's pressure settings and the USCG and IMO Rules and Regulations. The
Master was in fact absolutely correct but Exmar tried to make out that the
vessel could load the full charterparty quantity.

(3)  It is our case that in order to load more than 3,760 mt (the cargo was
loaded at ambient temperature) Exmar refrigerated the cargo as it came on
board
to reduce the volume.  This caused the loading to be excessively slow.  We say
this method of loading was actually illegal.  It was only by loading illegally
in this way that Exmar could load more than 3760 mt at the required pressure
setting.  We also say it was an express term of the charterparty that the
entire
contractual cargo could be loaded within the contractual lay time.   The
vessel
also had to raise the temperature and discharge causing further delays.

(4) There was great commerical pressure on Enron at the time.  The market for
propane was falling rapidly in March 1991 (the end of the Northern European
winter) and Enron had arranged the on sale of a minimum quantity of 3,990 mt
on
CIF terms based on an expected loading of 1st-7th March 1991.  Enron were
extremely concerned that this would lead purchasers Vitol  to repudiate the
sale
contract leading to a very substantial trading loss (Vitol did try to
repudiate
the sale contract due to the loading delays and this developed into a very
major
trading dispute with Vitol which we eventually won in the House of Lords).

(5)  Exmar made out that slow loading was due to low back pressure in his
Enterprise loading lines.  We believe this is wrong but at this distance in
time
it is difficult to get clear evidence.

(6)  In the circumstances, on 7th March 1991to try and speed up loading Enron
agreed that the minimum cargo of 3,760 mt should be loaded and agreed to pay
Exmar deadfreight on the balance in the sum of US$22,714.84.

(7)  Furthermore, because of the slow loading of the vessel the Enterprise
Terminal had to throw "SANTA CLARA" off berth.  This would have caused a very
substantial delay and might have justified Vitol in throwing  over the sales
contract.  In the circumstances Enron negotiated an agreement with another
vessel ("DONAU") to permit "SANTA CLARA" to be loaded ahead of "DONAU".  The
sum
paid to "DONAU" amounted to US$153,472.15.    We believe the "DONAU" was also
operated by Exmar.

(8) Accordingly, Enron deny liability for demurrage for the extended loading
which Exmar have claimed in the sum of US$165,652.78 and Enron have
counterclaimed a total of US$176,186.99 (i.e. the deadfreight and "DONAU"
payments).

Exmar are represented by London Solicitors, Lawrence Graham where the matter
is
being handled by Mike Lax


Message-ID: <198770.1075841720311.JavaMail.evans@thyme>
Date: Fri, 20 Apr 2001 10:08:00 -0700 (PDT)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: EnTouch Newsletter
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Enron Announcements
X-To: All_ENA_EGM_EIM
X-cc:
X-bcc:
X-Folder: \kate symes 6-27-02\Notes Folders\Corporate comm
X-Origin: SYMES-K
X-FileName: kate symes 6-27-02.nsf

BUSINESS HIGHLIGHTS

Enron Industrial Markets
Metal Bulletin - Iron and Steel Awards for 2000
Pushiest Entrant: Enron, the US commodity trading company, which promised i=
t=20
would revolutionize the steel business by offering futures in hot rolled co=
il=20
via its online market place.

The EIM Fundamentals Analysis group is excited to announce that Dave Allan=
=20
has joined as a Director, responsible for all Forest Products lines.  He=20
comes to EIM with 20 years of experience in the Forest Products industry, o=
f=20
which 14 were spent at Abitibi and 6 with Pulp and Paper Week.  Please join=
=20
us in welcoming Dave.

The Siebel Team (=01&The Force=018) continues to work towards program=20
implementation of its customer management system in early May, with trainin=
g=20
to begin at the end of April.  Stay tuned for updates.

Enron Global LNG
Enron Global LNG is positioning itself to be a creator and leader of a glob=
al=20
wholesale LNG market.  The rising prices of natural gas in the United State=
s=20
and concerns over future energy supplies have created a bullish outlook for=
=20
LNG in the U.S. and around the globe.   LNG has played a major role in=20
serving energy needs in many parts of the world, but its place in the U.S.=
=20
energy picture has been limited. An LNG market that spans the globe can=20
supply vast amounts of otherwise stranded gas to the world=01,s growing app=
etite=20
for cleaner burning fuels.   Enron Global LNG sees great opportunity for=20
Enron=01,s wholesale energy business model to help shape yet another energy=
=20
market.

IN THE NEWS

Enron Corp. Says First-Quarter Profit Rose 20 Percent=20
Houston, April 17 (Bloomberg) -- Enron Corp., the largest energy trader, sa=
id=20
first-quarter profit rose 20 percent as sales almost quadrupled. Profit fro=
m=20
operations rose to $406 million, or 47 cents, from $338 million, or 40 cent=
s,=20
in the year-earlier period.  Enron raised its 2001 profit forecast to $1.75=
=20
to $1.80 a share, from its January projection of $1.70 to $1.75.

First-quarter revenue surged to $50.1 billion from $13.1 billion as Enron=
=20
boosted the volume of power sold in North America by 90 percent. Enron had =
a=20
first-quarter gain of $19 million, or 2 cents a share, for an accounting=20
change, making net income $425 million, or 49 cents a share. There were no=
=20
charges or gains in the year-earlier period. =20

WELCOME
New Hires
EGM - Janelle Russell,=20
EIM   - David Allan, Sylvia Carter
ENA  - Sasha Divelbiss, Amy Quirsfeld, Judy Zhang, Annette Thompson, Kelly=
=20
Donlevy-Lee, Grant Patterson

Transfers (to or within)
ENA =01) William Abler, Magdalena Cruz, Barbara Taylor, James Reyes, Marvin=
=20
Carter, Angel Tamariz, Jesse Bryson
EIM =01) Cassandra Dutton, Christine Sullivan, Camille Gerard, Sherri Katho=
l,=20
Jennifer Watson
EGM =01) Steven Batchelder

LEGAL STUFF
The information contained in this newsletter is confidential and proprietar=
y=20
to Enron Corp. and its subsidiaries.  It is intended for internal use only=
=20
and should not be disclosed.


Message-ID: <33254848.1075855664698.JavaMail.evans@thyme>
Date: Fri, 20 Apr 2001 10:08:00 -0700 (PDT)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: EnTouch Newsletter
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Enron Announcements
X-To: All_ENA_EGM_EIM
X-cc:
X-bcc:
X-Folder: \Peter_Keavey_Jun2001\Notes Folders\Notes inbox
X-Origin: Keavey-P
X-FileName: pkeavey.nsf

BUSINESS HIGHLIGHTS

Enron Industrial Markets
Metal Bulletin - Iron and Steel Awards for 2000
Pushiest Entrant: Enron, the US commodity trading company, which promised i=
t=20
would revolutionize the steel business by offering futures in hot rolled co=
il=20
via its online market place.

The EIM Fundamentals Analysis group is excited to announce that Dave Allan=
=20
has joined as a Director, responsible for all Forest Products lines.  He=20
comes to EIM with 20 years of experience in the Forest Products industry, o=
f=20
which 14 were spent at Abitibi and 6 with Pulp and Paper Week.  Please join=
=20
us in welcoming Dave.

The Siebel Team (=01&The Force=018) continues to work towards program=20
implementation of its customer management system in early May, with trainin=
g=20
to begin at the end of April.  Stay tuned for updates.

Enron Global LNG
Enron Global LNG is positioning itself to be a creator and leader of a glob=
al=20
wholesale LNG market.  The rising prices of natural gas in the United State=
s=20
and concerns over future energy supplies have created a bullish outlook for=
=20
LNG in the U.S. and around the globe.   LNG has played a major role in=20
serving energy needs in many parts of the world, but its place in the U.S.=
=20
energy picture has been limited. An LNG market that spans the globe can=20
supply vast amounts of otherwise stranded gas to the world=01,s growing app=
etite=20
for cleaner burning fuels.   Enron Global LNG sees great opportunity for=20
Enron=01,s wholesale energy business model to help shape yet another energy=
=20
market.

IN THE NEWS

Enron Corp. Says First-Quarter Profit Rose 20 Percent=20
Houston, April 17 (Bloomberg) -- Enron Corp., the largest energy trader, sa=
id=20
first-quarter profit rose 20 percent as sales almost quadrupled. Profit fro=
m=20
operations rose to $406 million, or 47 cents, from $338 million, or 40 cent=
s,=20
in the year-earlier period.  Enron raised its 2001 profit forecast to $1.75=
=20
to $1.80 a share, from its January projection of $1.70 to $1.75.

First-quarter revenue surged to $50.1 billion from $13.1 billion as Enron=
=20
boosted the volume of power sold in North America by 90 percent. Enron had =
a=20
first-quarter gain of $19 million, or 2 cents a share, for an accounting=20
change, making net income $425 million, or 49 cents a share. There were no=
=20
charges or gains in the year-earlier period. =20

WELCOME
New Hires
EGM - Janelle Russell,=20
EIM   - David Allan, Sylvia Carter
ENA  - Sasha Divelbiss, Amy Quirsfeld, Judy Zhang, Annette Thompson, Kelly=
=20
Donlevy-Lee, Grant Patterson

Transfers (to or within)
ENA =01) William Abler, Magdalena Cruz, Barbara Taylor, James Reyes, Marvin=
=20
Carter, Angel Tamariz, Jesse Bryson
EIM =01) Cassandra Dutton, Christine Sullivan, Camille Gerard, Sherri Katho=
l,=20
Jennifer Watson
EGM =01) Steven Batchelder

LEGAL STUFF
The information contained in this newsletter is confidential and proprietar=
y=20
to Enron Corp. and its subsidiaries.  It is intended for internal use only=
=20
and should not be disclosed.


Message-ID: <14659.1075852093911.JavaMail.evans@thyme>
Date: Thu, 14 Jun 2001 21:39:31 -0700 (PDT)
From: 40enron@enron.com
Subject: EnTouch Newsletter
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: 7bit
X-From: ENA Public Relations@ENRON <IMCEANOTES-ENA+20Public+20Relations+40ENRON@ENRON.com>
X-To: En Touch Newsletter List@ENRON
X-cc:
X-bcc:
X-Folder: \BROGERS (Non-Privileged)\Rogers, Benjamin\enron news
X-Origin: ROGERS-B
X-FileName: BROGERS (Non-Privileged).pst

BUSINESS HIGHLIGHTS

AEP COMPLETES PURCHASE OF HOUSTON PIPE LINE COMPANY FROM ENRON
COLUMBUS, Ohio - American Electric Power (NYSE: AEP) announced that it has completed its purchase of the stock of Houston Pipe Line Company (HPL), an intrastate natural gas pipeline subsidiary of Enron Corp. (NYSE: ENE).  The acquisition includes inventory and a 30-year pre-paid lease related to the operation of the Bammel Storage Facility.  The $726.6 million for the transaction will be raised by issuing a non-controlling, preferred equity interest to private investors.

The purchase, announced Jan. 11, 2001, was completed following clearance from the Department of Justice under the Hart-Scott-Rodino Act. HPL owns, or leases, and operates one of the most extensive and flexible natural gas gathering, transportation and storage operations in Texas. HPL's intrastate system includes more than 4,400 miles of pipe with capacity of approximately 2.4 billion cubic feet per day and the operation of the Bammel Storage Facility, one of the largest storage facilities in North America with a capacity of approximately 118 billion cubic feet and significant injection and withdrawal capacity.

Industrial Markets
Siebel launch is a great success
The EIM Fundamentals Siebel Team successfully launched The Force: Episode I (Siebel Express) in record time, less than 6 weeks. This was the quickest Siebel implementation thanks to teams in EIM, Networks, PWC (PriceWaterhouseCoopers) and Siebel Corp.The team took contact and account information from 100+ EIM originators and traders and compiled them into a single database for customer management.

Training began on May 8, 2001.  In less than a month, we have populated The Force with 5,700 Accounts (Counterparties) and 10,000 Contacts for Forest Products and Steel Industries.  We have set up and trained over 150 users in 4 different domestic locations. Originators and traders now can easily log phone calls and meetings with customers as well as store deal documentation, deal pipeline and sales stage information.

Episode II will launch end of June and will include synchronization capabilities and well as other customized fields for EIM business. Siebel Sales Enterprise is a customer-focused centralized database, which enables sharing of all information learned about our customers.  Siebel is designed to help in-house and mobile sales professionals to manage accounts, contacts, activities and opportunities associated with the sales cycle.

IN THE NEWS

Enron Tops Gas Market: Higher commodity prices and greater demand have generated record earnings for many gas marketers during the past quarter, making energy one of the few sectors gaining ground in the U.S. economy. Leading the pack is Enron whose gas volumes grew 30 percent, with 27.2 billion cfd traded on average by March 31. Much of Enron's success is attributed to EnronOnline, which saw 275,000 transactions with a total value of $162 billion in various commodities in the first quarter. The second place earner, El Paso, earned half of Enron's total with only 13.8 billion traded in 2001.

EnronOnline Statistics
Below are the latest figures for EnronOnline as of June 12, 2001

*	Total Life to Date Transactions > 1,075,000
*	Life to Date Notional Value of Transactions > $648 billion

REUTERS TO PROVIDE ITS CUSTOMERS WITH
ENRONONLINE REAL-TIME QUOTES
NEW YORK, JUNE XX, 2001 ? Reuters (NASDAQ: RTRSY), the global information, news and technology group,

En Touch Newsletter List@ENRON
ENA Public Relations@ENRON


Message-ID: <21961444.1075857420453.JavaMail.evans@thyme>
Date: Fri, 3 Nov 2000 05:51:00 -0800 (PST)
From: errol.mclaughlin@enron.com
To: kori.loibl@enron.com
Subject: Ameriflash Newsletter
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Errol McLaughlin
X-To: Kori Loibl
X-cc:
X-bcc:
X-Folder: \Errol_McLaughlin_Jun2001\Notes Folders\Sent
X-Origin: McLaughlin-E
X-FileName: emclaug.nsf

---------------------- Forwarded by Errol McLaughlin/Corp/Enron on 11/03/20=
00=20
01:47 PM ---------------------------
  =20
=09
=09
=09From:  ENA Public Relations                           11/02/2000 11:19 P=
M
=09

Sent by: Enron Announcements
To: All_ENA_EGM_EIM
cc: =20

Subject: Ameriflash Newsletter

BUSINESS HIGHLIGHTS

Oil Products
The Oil Products Group executed a 1 year physical transaction, whereby Enro=
n=20
supplies Delta Airlines 100,000 barrels/month for one year beginning in =20
November of 2000, for a total of 1.2 million barrels.

Weather
On December 6 at 7pm, the Weather Channel will run a 15 minute special=20
interest story on Weather Derivative trading.  Approximately 8 minutes of=
=20
this telecast will focus on the Enron Weather Risk Management group, led by=
=20
Mark Tawney, director. In September, a film crew spent two days recording t=
he=20
group's activities and interviewing Mark Tawney; Steven Vu, head of trading=
;=20
Gary Taylor, head of marketing; and Brando Hayden, trader.  Efforts to=20
publicize Enron's leading position in the Weather Risk marketplace have=20
included this television show, the Enron Corp commercial focused on weather=
=20
risk management, and several articles written by members of the Enron Weath=
er=20
Trading group.  What's next?  Enron Weather: the Movie - coming soon to=20
theatres near you!

Principal Investments
Tridium Inc., the leading provider of Internet-based automation=20
infrastructure solutions, announced the closing of a $20 million round of=
=20
capital funding. The funds will be used to increase Tridium=01,s sales and=
=20
technical support offices in North America, expand its operations into Euro=
pe=20
and Asia, and enhance its technology and products. kRoad Ventures, L.P. and=
=20
Enron North America each contributed $10 million in venture capital.

Energy Capital Resources
Westwin Energy, LLC, a privately held oil and gas exploration and productio=
n=20
company based in Midland, has been formed by the former management team of=
=20
ARCO Permian.  Along with the company=01,s formation, Westwin announced its=
=20
financial partner, which is Enron North America.  Westwin Energy will focus=
=20
on drilling opportunities and select acquisitions in the Permian Basin of=
=20
West Texas and Southeast New Mexico.

Enron Industrial Markets Fundamentals Analysis
Following the example of other Enron entities, Enron Industrial Markets has=
=20
established a Fundamentals Analysis Group.  Under the direction of Andrea=
=20
Reed, the group is similar to the others, with the objective of providing=
=20
market, industry, and regulatory information and identifying potential=20
commercial opportunities for originators and traders.  Doug Moreno and Caro=
l=20
Marshall are the information experts.   They are presently working to=20
aggregate all of Enron=01,s various resources into a library and a website=
=20
(coming soon at http://eimfundy.dev.corp.enron.com/).  Jennifer Riley is th=
e=20
quantitative analyst, and has already analyzed a number of statistical=20
relationships for the business entities to identify possible hedging=20
strategies.  Peggy Determeyer (steel) and Karen Carter (paper/pulp and=20
lumber) will be providing analytical services to the two primary product=20
lines. Tammy Davis keeps them all organized with terrific administrative=20
support.  Doug, Jennifer, Tammy, and Carol have followed Andrea from her=20
previous Merchant Asset Portfolio Management assignment, while Peggy and=20
Karen have joined fr


Message-ID: <32164910.1075858429442.JavaMail.evans@thyme>
Date: Tue, 17 Oct 2000 05:14:00 -0700 (PDT)
From: scott.neal@enron.com
To: peter.keavey@enron.com, dick.jenkins@enron.com, brad.mckay@enron.com,
	sandra.brawner@enron.com
Subject: Monthly Briefing: Turning on the Heat - CERA Alert
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Scott Neal
X-To: Peter F Keavey, Dick Jenkins, Brad McKay, Sandra F Brawner
X-cc:
X-bcc:
X-Folder: \Scott_Neal_Jun2001\Notes Folders\'sent mail
X-Origin: Neal-S
X-FileName: sneal.nsf

---------------------- Forwarded by Scott Neal/HOU/ECT on 10/17/2000 12:13 =
PM=20
---------------------------
  =20
=09
=09
=09From:  Doug Leach                           10/17/2000 06:43 AM
=09

To: Janet R Dietrich/HOU/ECT@ECT, Thomas A Martin/HOU/ECT@ECT, Scott=20
Neal/HOU/ECT@ECT
cc: =20
Subject: Monthly Briefing: Turning on the Heat - CERA Alert

---------------------- Forwarded by Doug Leach/HOU/ECT on 10/17/2000 06:42 =
AM=20
---------------------------

webmaster@cera.com on 10/16/2000 10:04:33 PM
To: Doug.Leach@enron.com
cc: =20
Subject: Monthly Briefing: Turning on the Heat - CERA Alert

**********************************************************************
CERA Alert: Sent Mon, October 16, 2000
**********************************************************************

Title: Monthly Briefing: Turning on the Heat
Author: N. American Gas Team
E-Mail Category: Alert
Product Line: North American Gas ,
URL: http://www.cera.com/cfm/track/eprofile.cfm?u=3D4487&m=3D1390 ,

Alternative URL:=20
http://www.cera.com/client/nag/alt/101600_16/nag_alt_101600_16_ab.html
*********************************************************

The nervousness driving the gas market that had settled just below the=20
surface during
the relative calm of late September and early October reemerged in force la=
st=20
week.
From mid-September through early October it appeared that a lucky combinati=
on=20
of
mild weather, storage injections above 10 billion cubic feet (Bcf) per day,=
=20
and a lack
of storms in producing areas of the Gulf of Mexico had calmed the market
somewhat. Henry Hub prices settled near $5.00 in the cash market, less than=
=20
$0.20
above residual fuel oil. Last week, however, tragedy in the Middle East and=
 a=20
slightly
lower-than-expected storage injection report were sufficient to drive Novem=
ber
Henry Hub prices up by more than $0.50 in two days, to above $5.60.

Mild weather may still soften prices from current levels, but CERA does not=
=20
expect
the relative calm of late September and early October to return to the gas=
=20
market.
Turmoil in the oil market has raised the floor for gas prices, as nearly 1.=
5=20
Bcf per day
of potential gas demand now burning residual fuel oil would quickly return =
to=20
the gas
market should prices decline relative to oil. Also, weather must remain mil=
d=20
through
October, or else US working storage inventories may not reach even 2.7=20
trillion
cubic feet (Tcf) by the end of the month. The headroom for price is much=20
greater, as
distillate oil, the next substitute for gas should gas prices rise, is itse=
lf=20
in short
supply. Shutdowns of industrial facilities represent an important increment=
 of
demand resistance as gas prices rise, and neither switching to distillate n=
or=20
shutting
down production comes easily or cheaply.

Time is running out before the heating season begins, and the market remain=
s
justifiably on edge: upward volatility remains much more likely than any=20
significant
settling in price. As a result, CERA expects natural gas prices to be=20
sustained in the
mid-$5.00s, averaging $5.50 at the Henry Hub during November (see Table 1).=
=20
More
luck--a great deal more--would be required to restore a measure of calm to=
=20
the gas
market.

Gas Storage--The Final Push
October storage injections have varied historically from 4.0 Bcf to=20
approximately 8.5
Bcf per day in th

20
inventories on a
trajectory to hit record


Message-ID: <32558390.1075863672553.JavaMail.evans@thyme>
Date: Thu, 29 Jun 2000 04:47:00 -0700 (PDT)
From: darron.giron@enron.com
To: dgiron1@pdq.net
Subject: EnronOptions - Your Stock Option Program
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: quoted-printable
X-From: Darron C Giron
X-To: dgiron1@pdq.net
X-cc:
X-bcc:
X-Folder: \Darron_Giron_Jun2001\Notes Folders\Sent
X-Origin: Giron-D
X-FileName: dgiron.nsf

---------------------- Forwarded by Darron C Giron/HOU/ECT on 06/29/2000=20
11:43 AM ---------------------------
 Office of the Chairman
From: Office of the Chairman@ENRON on 06/29/2000 11:46 AM
To: ESOP All Enron N. A.
cc: =20
Subject: EnronOptions - Your Stock Option Program

It is amazing and yet not surprising how much Enron has accomplished in the=
=20
first six months of this year. You continue to make it happen.  We recogniz=
e=20
that you work hard every day to accomplish Enron=01,s business goals, and w=
e are=20
pleased that many of you have shared in the company=01,s financial success=
=20
through Enron stock options.=20

As you may know, the current employee stock option program (also known as t=
he=20
All Employee Stock Option Program or AESOP) began in 1994 and provided valu=
e=20
to participants through 2000.  Employees who have participated in this=20
program from its inception have realized a 1,119% increase in the value of=
=20
their stock options (assuming a stock price of $70) over the life of the=20
program.  =20

Enron stock options are a valuable part of your total compensation package=
=20
and a contributing factor to your performance and to Enron=01,s continued=
=20
success.  Therefore, the Enron Executive Committee and the Compensation and=
=20
Management Development Committee of the Enron Board of Directors have decid=
ed=20
to continue to offer stock options as a part of your compensation package.

On May 1, 2000, the Committee approved an employee stock option program for=
=20
calendar years 2001 - 2005 (EnronOptions =01) Your Stock Option Program).  =
It is=20
expected that EnronOptions =01) Your Stock Option Program will be granted,=
=20
effective on or about December 29, 2000, for those employees who are eligib=
le=20
on that date (please see note below).  The new program, which is subject to=
=20
final approval by Enron=01,s Board of Directors, is as follows:

? EnronOptions =01) Your Stock Option Program will give stock options to=20
eligible full-time and part-time regular employees in domestic and=20
international companies/locations.
? The grant of non-qualified stock options will equal 25% of annual base=20
salary (5% of annual base salary for each year of a 5-year period) on=20
December 29, 2000. (Salary calculation and value may vary in some=20
international locations.)
? The Board will grant the stock options on December 29, 2000.
? Eligible employees hired in subsequent years will receive a prorated gran=
t=20
of stock options.

Why commit your talent and energy to Enron?  EnronOptions =01) Your Stock O=
ption=20
Program, among other good reasons=01( that=01,s why.

In the coming weeks, you will be receiving more details about EnronOptions =
=01)=20
Your Stock Option Program.  To provide information and answer your question=
s,=20
we will introduce a special link on the Human Resources web-site, host=20
several eSpeak sessions and continue to communicate with you on a regular=
=20
basis.  In the meantime, if you have immediate questions, please contact yo=
ur=20
Human Resources representative.=20

Note: In addition to final approval by Enron=01,s Board of Directors, grant=
ing=20
of options will be subject to New York Stock Exchange and state and federal=
=20
regulatory requirements.  It is expected that EnronOptions =01) Your Stock=
=20
Option Program will be available to most Enron employees; however, some Enr=
on=20
companies=01, employees may not be eligible due to legal, accounting, tax, =
labor=20
or business issues.  As yo


Message-ID: <31178564.1075843177805.JavaMail.evans@thyme>
Date: Mon, 11 Dec 2000 11:25:00 -0800 (PST)
From: lexis-nexis@prod.lexis-nexis.com
To: jeff.dasovich@enron.com
Subject: LEXIS(R)-NEXIS(R) Email Request (59:0:18429396)
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit
X-From: LEXIS(R)/NEXIS(R) Print Delivery <lexis-nexis@prod.lexis-nexis.com>
X-To: Jeff.Dasovich@enron.com
X-cc:
X-bcc:
X-Folder: \Jeff_Dasovich_Dec2000\Notes Folders\Notes inbox
X-Origin: DASOVICH-J
X-FileName: jdasovic.nsf

109TQQ

Print Request:   Selected Document(s): 6,22,39,40,66

Time of Request: December 11, 2000  07:25 pm EST
Number of Lines: 475
Job Number:      59:0:18429396
Client ID/Project Name: 70

Research Information:

General News;American Telephone & Telegraph, NCR, (pooling of interests)

Note:
Hi Jeff, here are the docs I thought were good, keep in mind that I referenced
these in my paper.  Cheers

6 of 67 DOCUMENTS

The Associated Press

The materials in the AP file were compiled by The Associated Press. These
materials may not be republished without the express written consent of The
Associated Press.

August 29, 1991, Thursday, BC cycle

SECTION: Business News

LENGTH: 322 words

HEADLINE: NCR to Sell Stock Privately to Consummate Merger With AT&T

DATELINE: NEW YORK

BODY:

NCR Corp. and American Telephone & Telegraph Co. said Thursday they have
agreed to sell 6.3 million shares of NCR privately as part of the phone
company's purchase of the computer maker.

The companies announced earlier this month they would sell the stock to the
public in a step to obtain regulatory approval of their merger as a "pooling
of
interests."

Such approval provides favorable tax treatment for AT&T. But the company
could not obtain such a ruling from regulators because NCR had repurchased
some
of its stock from the public in the two years preceeding the May 6 merger
announcement, which is not allowed under regulations.

To undo those stock purchases, NCR announced Aug. 9 it would sell the 6.3
million shares back to the public.

But the companies said Thursday they had decided to sell the stock privately
instead, at $ 102.75 a share, to clients of four affiliates of The Capital
Group
Inc., a Los Angeles-based investment management company.

AT&T said the private placement would limit the chances of unfavorable market
conditions at the time of a public offering.

NCR stock closed Thursday at $ 108.12 a share on the New York Stock Exchange,
up 37 cents.

The NCR shares will be converted into AT&T shares when the merger is
completed. The deal will make the Capital Group clients the largest AT&T
shareholder collectively, at about 1.5 percent, the phone company said. AT&T
is
the most widely held stock, so no single shareholder owns a large percentage
of
its stock.

The stock sale will be completed after NCR shareholders approve the merger at
a meeting Sept. 13, the two companies said.

The four Capital Group companies involved in the stock purchase are Capital
Research and Management Co., manager of the American Funds Group of mutual
funds; Capital Guardian Trust Co., a manager of institutional accounts;
Capital
International Ltd., based in London; and Capital International S.A. of Geneva.

LANGUAGE: ENGLISH

22 of 67 DOCUMENTS

Copyright 1991 The New York Times Company

The New York Times

July 4, 1991, Thursday, Late Edition - Final

SECTION: Section D; Page 2; Column 5; Financial Desk

LENGTH: 529 words

HEADLINE: A.T.& T. Alters Merger To Win Audit Ruling

BYLINE: By ALISON LEIGH COWAN

BODY:

The American Telephone and Telegraph Company said yesterday that it had
modified the terms of its merger deal with the NCR Corporation to settle
questions about the accounting method to be used in the transaction.

The telecommunications giant is seeking approval from the Securities and
Exchange Commission to use the pooling-of-interest accounting method for the
merger transaction, but some aspects of the deal

80 percent majority vote it needs
to
oust


Message-ID: <29502742.1075846330950.JavaMail.evans@thyme>
Date: Fri, 8 Dec 2000 00:18:00 -0800 (PST)
From: steven.kean@enron.com
To: mark.schroeder@enron.com, richard.shapiro@enron.com,
	elizabeth.linnell@enron.com
Subject:
Mime-Version: 1.0
Content-Type: text/plain; charset=ANSI_X3.4-1968
Content-Transfer-Encoding: 7bit
X-From: Steven J Kean
X-To: Mark Schroeder, Richard Shapiro, Elizabeth Linnell
X-cc:
X-bcc:
X-Folder: \Steven_Kean_Dec2000_1\Notes Folders\Calendar\Untitled
X-Origin: KEAN-S
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----- Forwarded by Steven J Kean/NA/Enron on 12/08/2000 08:18 AM -----

	<Suzanne_Nimocks@mckinsey.com>
	12/07/2000 02:09 PM

		 To: <skean@enron.com>
		 cc:
		 Subject:

I thought that you (or some of your colleagues) might find the attached
update on country by country restructuring to be helpful.
----- Forwarded by Suzanne Nimocks/HOU/NorthAmerica/MCKINSEY on 12/07/2000
01:30 PM -----
       Memorandum

    TO:        Adam Lewis
       Alberto Marchi
       Andrew Hertneky
       Andy Steinhubl
       Angela Kuster
       Anjan Asthana
       Antonio Puron
       Antonio Volpin
       Arne Germeyer
       Arturo Vernon
       Ashutosh Shastri
       B. Venki Venkateshwara
       Barbara Fletcher
       Barbara House
       Ben Joyce
       Bernard Minkow
       Bob Edwards
       Bob Felton
       Boris Galonske
       Brian Schofield
       Brian Tulloh
       Buford Alexander
       Carlo Yu
       Carlos Torres
       Carol B White
       Carolyn Loos
       Cecilia Bergman
       Charlie Taylor
       Christoph Brombacher
       Christoph Grobbel
       Claude Genereux
       Corinne Aigroz
       Csilla Ilkei
       Dalila Villar
       Daniel Poller
       Eileen Burnett-Kant
       Enrique de Leyva
       Eric Bartels
       Eric Hanlon
       Eric Lamarre
       Francis Hodsoll
       Franco Magnani
       Francois Lepicard
       Frank-Detlef Drake
       Frank Weigand
       Gerald Klenner
       German Dominguez
       Gerrit van Geyn
       GIANCARLO GHISLANZONI
       Gjermund _ydvin
       Glenn Payne
       Helen Warwick
       Hugo Baquerizo
       Humayun Tai
       Ignacio Quesada
       Intam Rinawati Dewi
       Ivo Bozon
       Jaap Kalkman
       Jan Christer Tryggestad
       Jason Hicks
       Jason Rabbino
       Javier San Felix
       Jeff Walker
       Jessica Ciccone
       Jessica O'Connor-Petts
       Jim Ayala
       Jim Bowen
       Jim Humrichouse
       Jim O'Reilly
       Jim Robb
       Joan Westmoreland
       Joelle Gatineau
       Jon Zagrodzky
       Jonathan Woetzel
       Jorge Fergie
       Jose Federico Castillo
       Jose Maria del Aguila
       Jourik Migom
       Jud Morrison
       Judith Lezaun
       Judy Wade
       Karel Tutein Nolthenius
       Keith . Leslie
       Kelly Kienzle
       Ken Ostrowski
       Kristina Kalinova
       Jyoti Suri
       Lar Bradshaw
       Leonardo Senni
       Leonhard Birnbaum
       Les Silverman
       Linda Mansfield
       Lisa Schwallie
       Luca D'Agnese
       Luis Troyano
       Marcelino Susas
       Marina Ospina
       Mark Ellis
       Marko Schulz
       Marla Aizenshtat
       Matt Rogers
       Menno van Dijk
       Michael Linders
       Michael Morcos
       Mike Juden
       Mike Terry
       Miriam Alvarez
       Nicolas Borges
       Olga Perkovic
       Pablo Toja
       Pankaj Jain
       Pascale Michaud
       Patricia Miller
       Paul Jansen
       Paul Kolter
       Paul LeBrun
       Paul Parfomak
       Pawel Konieczniak
       Per Lekander
       Peter Bisson
       Peter Sidebottom
       Pierre-Yves Ouillet
       Pierre-Yves Roussel
       Pru Sheppard
       Rob Latoff
       Robert Palter
       Robert Samek
       Rodrigo Rubio
       Rogene McCoy
       Roger Abravanel
       Ron Bloemers
       Ruggero Jenna
       Rui De Sousa
       Sally Lindsay
       Scott Andre
       Scott Graham
       Sesha Narayan
       Simon Lowth
       Suzanne Nimocks
       Tera Allas
       Th

2004 either to sell one business type or
              to set up a separate trust


Message-ID: <18296697.1075853058305.JavaMail.evans@thyme>
Date: Thu, 25 Oct 2001 07:01:41 -0700 (PDT)
From: toby.kuehl@enron.com
To: lynn.blair@enron.com, mike.bryant@enron.com, shelley.corman@enron.com,
	rick.dietz@enron.com, bradley.holmes@enron.com,
	steven.january@enron.com, sheila.nacey@enron.com,
	donna.scott@enron.com
Subject: Texas Monthly November 2001: How Enron Blew It
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X-From: Kuehl, Toby </O=ENRON/OU=NA/CN=RECIPIENTS/CN=TKUEHL>
X-To: Blair, Lynn </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lblair>, Bryant, Mike </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mbryant>, Corman, Shelley </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Scorman>, Dietz, Rick </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rdietz>, Holmes, Bradley </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Bholmes>, January, Steven <Steven.January@ENRON.com>, Nacey, Sheila </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Snacey>, Scott, Donna </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Dscott1>
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Did you guys see this article?

How Enron Blew It
Less than a year ago, the Houston-based energy behemoth had everything: mon=
ey, power, glitz, smarts, new ideas, and a CEO who wanted to make it the mo=
st important company in the world. Now its stock is down, wall street is be=
arish, and the CEO is gone. What went wrong?
by Mimi Swartz </mag/issues/authors/mimiswartz.php>
THE ENRON SKYSCRAPER NEAR THE SOUTH END OF HOUSTON'S DOWNTOWN feels like th=
e international headquarters of the best and the brightest. The lobby in no=
 way resembles the hushed, understated entryways of the old-fashioned oil c=
ompanies, like Shell and Texaco nearby. Enron, in contrast, throbs with mod=
ernity. The people hustling in and out of the elevators are black, white, b=
rown; Asian, Middle Eastern, European, African, as well as American-born. T=
hey are young, mostly under 35, and dressed in the aggressively casual unif=
orm of the tech industry-the guys wear khakis, polo shirts, and Banana Repu=
blic button-downs. Almost preposterously fit, they move through the buildin=
g intently, like winners. Enron is nothing if not energetic: A Big Brother-=
size TV screen frantically reports on the stock market near a bank of eleva=
tors, while another hefty black television relaying the same news greets pe=
ople entering from the garage. A sculpture of the corporate symbol, an E ti=
pped at a jaunty angle, radiates colors as it spins frenetically on its axi=
s; a Starbucks concession on the ground floor keeps everyone properly caffe=
inated. Multicolored, inspirational flags hang from the ceiling, congratula=
ting Enron on its diversity and its values; one more giant banner between e=
levator banks declares Enron's simple if grandiose goal: "From the World's =
Leading Energy Company to . . . The World's Leading Company!"
For a while, that future seemed guaranteed, as Enron transformed itself fro=
m a stodgy, troubled pipeline company in 1985 to a trading colossus in 2000=
. It was a Wall Street darling, with a stock price that increased 1,700 per=
cent in that sixteen-year period, with revenues that increased from $40 bil=
lion to $100 billion. "The very mention of the company in energy circles th=
roughout the world creates reactions ranging from paralyzing fear to envy,"=
 notes a 2001 report from Global Change Associates, a firm that provides ma=
rket intelligence to the energy business.
This Enron was largely the creation of Jeff Skilling, a visionary determine=
d to transform American business. Hired sixteen years ago as a consultant b=
y then-CEO Ken Lay, Skilling helped build a company that disdained the old =
formula of finding energy in the ground, hauling it in pipelines, and then =
selling it to refineries and other customers. Instead, it evolved into a co=
mpany that could trade and market energy in all its forms, from natural

20
It is often said of Lay that his instincts for hiring the best


Message-ID: <30960140.1075845341951.JavaMail.evans@thyme>
Date: Thu, 17 May 2001 20:52:58 -0700 (PDT)
From: 40enron@enron.com
Subject: EnTouch Newsletter
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X-To: All_ENA_EGM_EIM@ENRON <??SAll_ENA_EGM_EIM@ENRON>
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BUSINESS HIGHLIGHTS

Enron Industrial Markets
Enron Industrial Markets announced the signing of definitive agreements with Huntco, Inc. under which over a 15-year period Enron will provide inventory price risk management services and will eventually provide more than 600,000 tons per year of hot-rolled, cold-rolled and galvanized steel products to Huntco Steel.  The agreements provide Enron access to Huntco's network of steel distribution centers nationwide.  The agreements also provide for Enron's acquisition of Huntco's cold rolling and certain coil pickling operations in Blytheville, Arkansas.

These transactions with Huntco have the potential to fundamentally change the way steel is bought and sold in the United States.  It gives Enron immediate access to physical steel and positions Enron geographically to serve the steel industry in a variety of ways.  In addition to providing physical products on both a spot and term basis, EIM's goals for the steel industry include developing commodity risk management products, providing structured finance products and establishing the market-making capabilities that Enron has brought to the natural gas, power and other commodity markets.

Enron North America-Upstream Products
Upstream Products has partnered with Duke Energy Field Services (DEFS) to close a 20-year NGL exchange and transportation deal with Formosa Hydrocarbons and Williams Energy Field Services to handle raw make product from the Williams Markham plant. Formosa Hydrocarbons is building a 40,000 BPD fractionator to handle this and other Gulf Coast NGL production.  The accompanying pipeline will be known as the Seabreeze pipeline system and will be constructed by DEFS. Texas Brine LLC will provide NGL storage services for Formosa Hydrocarbons on this system. Primary production for this system is coming from the Boomvang Nansen field in the deepwater GOM and will be the first deepwater GOM production to come onshore in Texas.
Upstream Products has also worked to arrange a 20-year transportation lease agreement on the Dean Pipeline (owned by TEPPCO) for refinery grade propylene service to be utilized by Formosa Plastics. Coupled with this transaction, Enron Clean Fuels has entered into a propylene storage agreement with Formosa Plastics to utilize ECF's Mt. Belvieu storage facilities.  In addition, Enron Global Markets has been able to amend its current transportation agreement with TEPPCO to prematurely terminate a take-or-pay obligation and realize additional transportation revenues from interim NGL production coming from the Williams Markham to be delivered to Mt. Belvieu.
Upon close, Upstream Products was monetized out of its initial position by DEFS and retained a risk-free net profits position on the Seabreeze Pipeline going forward for an additional 20,000-40,000 BPD of excess capacity on the system.
ENA West Power
Southwest Power, an ENA affiliate, signed a 222MW 15-year tolling agreement with Allegheny Energy Supply for all of the output of Southwest's Las Vegas expansion project, scheduled for completion in September, 2002.  With the tolling agreement done and construction underway, the project will now be marketed to qualified generators.

IN THE NEWS

"To truly understand Enron's Jeffrey Skilling - the hypersmart, hyperconfident chief executive of what may now be the largest energy trading company on the planet - head to your local video store and check out that classic American cinema, Wayne's Wo


Message-ID: <1323985.1075841614693.JavaMail.evans@thyme>
Date: Wed, 15 Nov 2000 10:22:00 -0800 (PST)
From: enron.announcements@enron.com
To: all_ena_egm_eim@enron.com
Subject: Ameriflash Newsletter
Mime-Version: 1.0
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Content-Transfer-Encoding: quoted-printable
X-From: Enron Announcements
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X-FileName: kate symes 6-27-02.nsf

BUSINESS HIGHLIGHTS

Coal Trading
The liquidity in trading of the Standard European Coal Agreement has=20
increased significantly over the last 6 weeks.  Many counterparties that=20
previously opted to stay on the sidelines finally chose to join the game.=
=20
Since the contract's inception at the beginning of the year, Enron has trad=
ed=20
a total of 5.3 million tons against the SECA contract, of which 3.8 million=
=20
tons has been traded via EnronOnline since July 2000.  We are 5.3 million=
=20
tons of a total traded market of 5.8 million tons.

Principal Investments
Tridium Inc., the leading provider of Internet-based automation=20
infrastructure solutions, announced the close of a $20 million round of=20
capital funding. The funds will be used to increase Tridium=01,s sales and=
=20
technical support offices in North America, expand its operations into Euro=
pe=20
and Asia, and enhance its technology and products. kRoad Ventures, L.P. and=
=20
Enron North America each contributed $10 million in venture capital.

Corporate Development
Allegheny Energy Supply Company, LLC, a wholly owned subsidiary of Alleghen=
y=20
Energy, Inc., announced the signing of a definitive agreement under which=
=20
Allegheny Energy Supply will purchase three Enron natural gas-fired merchan=
t=20
generating facilities. The acquisition is expected to close in the 2nd=20
quarter of 2001.

PERFORMANCE REVIEW

The deadline to provide feedback is Friday, November 17.  If you have been=
=20
selected to provide feedback on one of your fellow employees, please take t=
he=20
time to fill out an evaluation online at www.pep.enron.com.

IN THE NEWS

"Enron Corp., already North America's biggest, buyer and seller of natural=
=20
gas and electric power is dead serious about its efforts to capture a big=
=20
slice of the $400 billion global trade in pulp, paper and lumber."
-Reuters News Service

2000 CHAIRMAN=01,S AWARD NOMINEES
Please join us in congratulating the ENA/EIM/EGM/ employees who have been=
=20
recognized as Chairman=01,s award nominees.

Congratulations to:

 Irma Alvarez  Alan Aronowitz  Rick Bergseiker  Carol Coats  Joya Davis =20
Rufino Durante
 Sue Foust  Julie Gomez  Barbara Gray  Jackie Griffith  John Harrison  Gerr=
i=20
Irvine
 Kathy Benedict  Michael Kelley  Mike McConnell  Dave Nommensen Ina Norman =
=20
Juan Padron
 Veronica Parra  Michael Roberts  Rhonda Robinson Kevin Sweeney  Helen=20
Taylor  Stacey White

Extra kudos to BARBARA GRAY, who is a finalist for the 2000 Chairman=01,s=
=20
Award.  Barbara and ten other individuals are flying to San Antonio from=20
around the world to be honored at Enron=01,s annual Management Conference. =
 One=20
of these finalists will be recognized as the 2000 Chairman=01,s Award winne=
r.=20

WELCOME
New Hires ENA/EIM/EGM
ENA =01) Anil Chandy, Alejandra Chavez
EGM =01) Marty Cates, JoAnne Underwood, Brad Miller

Transfers to ENA/EIM/EGM
ENA =01) Mark Wadlington, Jennifer Blay-Smith, Georgian Landau, Kathryn Bus=
sell,=20
John Coleman, Steven Gillespie, Clarissa Garcia, Ina Rangel, Farouk Lalji,=
=20
Eva Rainer, Chuchu Wang, Smith Day
EGM =01) Gloria Solis, Carmella Jones, Nancy Haralson

LEGAL STUFF
The information contained in this newsletter is confidential and proprietar=
y=20
to Enron Corp. and its subsidiaries.  It is intended for internal use only=
=20
and should not be disclosed outside of Enron.


Message-ID: <2364637.1075859665371.JavaMail.evans@thyme>
Date: Mon, 27 Nov 2000 03:36:00 -0800 (PST)
From: smarra@isda.org
To: rainslie@isda.org, yoshitaka_akamatsu@btm.co.jp,
	shigeru_asai@sanwabank.co.jp, kbailey2@exchange.ml.com,
	douglas.bongartz-renaud@nl.abnamro.com, brickell_mark@jpmorgan.com,
	henning.bruttel@dresdner-bank.com, sebastien.cahen@socgen.com,
	scarey@isda.org, jcohn@cravath.com, mcresta@cravath.com,
	dcunning@cravath.com, mcunningham@isda.org,
	jerry.delmissier@barclayscapital.com, shawn@blackbird.net,
	evangelisti_joe@jpmorgan.com, francois@us.cibc.com,
	tim.fredrickson@ubsw.com, gilbert_adam@jpmorgan.com,
	goldenj@allenovery.com, rgrove@isda.org, mark.e.haedicke@enron.com,
	fwhx9396@mb.infoweb.ne.jp, jhb1@bancosantander.es,
	quentin_hills@hk.ml.com, yhoribe@isda.org, milphil@gateway.net,
	skawano@isda.org, hiroyuki_keisho@sanwabank.co.jp,
	stevenkennedy@kennedycom.com, damian.kissane@db.com,
	kazuhiko_koshikawa@sanwabank.co.jp, isdalondon@isda.org,
	robert.mackay@nera.com, markb@cibc.ca,
	marjorie.b.marker@arthurandersen.com, lmarshall@isda.org,
	donna.matthews@ubsw.com, mengle_david@jpmorgan.com,
	tom.montag@gs.com, dmoorehead@pattonboggs.com, jonm@crt.com,
	yasumasa.nishi@ibjbank.co.jp, dennis.oakley@chase.com,
	losullivan@isda.org, ernest.patrikis@aig.com, rpickel@isda.org,
	maria.rosario@db.com, arothrock@pattonboggs.com, rryan@isda.org,
	maurits.schouten@csfb.com, charlessmithson@mindspring.com,
	ksumme@isda.org, teruo.tanaka@ibjbank.co.jp,
	steve_targett@nag.national.com.au, mark.wallace@wdr.com,
	h.ronald.weissman@arthurandersen.com, twerlen@cravath.com,
	paul.zz_wilkinson@wdr.com, dpd@aurora.dti.ne.jp,
	chi-wing.yuen@aig.com
Subject: ISDA PRESS REPORT - MONDAY, NOVEMBER 27, 2000
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Content-Transfer-Encoding: 7bit
X-From: Scott Marra <SMARRA@isda.org>
X-To: Ruth Ainslie <RAinslie@isda.org>, "'Yoshitaka Akamatsu'" <yoshitaka_akamatsu@btm.co.jp>, Shigeru Asai <Shigeru_Asai@sanwabank.co.jp>, Keith Bailey <kbailey2@exchange.ml.com>, Douglas Bongartz-Renaud <douglas.bongartz-renaud@nl.abnamro.com>, Mark Brickell <brickell_mark@jpmorgan.com>, Henning Bruttel <Henning.Bruttel@dresdner-bank.com>, Sebastien Cahen <sebastien.cahen@socgen.com>, Stacy Carey <SCAREY@ISDA.ORG>, Josh Cohn <jcohn@cravath.com>, "'Marjorie Cresta (Cravath)'" <mcresta@cravath.com>, Daniel Cunningham <dcunning@cravath.com>, Mary Cunningham <MCUNNINGHAM@isda.org>, Jerry del Missier <jerry.delmissier@barclayscapital.com>, "'Shawn Dorsch (Derivatives Net)'" <shawn@blackbird.net>, "'Joseph Evangelisti (JP Morgan)'" <evangelisti_joe@jpmorgan.com>, "'George Francois (CIBC)'" <francois@us.cibc.com>, Tim Fredrickson <tim.fredrickson@ubsw.com>, "'gilbert_adam@jpmorgan.com'" <gilbert_adam@jpmorgan.com>, Jeff Golden <goldenj@allenovery.com>, Richard Grove <RGROVE@isda.org>, Mark Haedicke <Mark.E.Haedicke@enron.com>, "'Tsuyoshi Hase'" <fwhx9396@mb.infoweb.ne.jp>, Jose Manuel Hernandez-Beneyto <jhb1@bancosantander.es>, "'Quentin Hills'" <Quentin_hills@hk.ml.com>, Yasuko Horibe <YHORIBE@isda.org>, "'Michael Iver'" <milphil@gateway.net>, Shigeki Kawano <SKawano@isda.org>, Hiroyuki Keisho <Hiroyuki_Keisho@sanwabank.co.jp>, "'stevenkennedy@kennedycom.com'" <stevenkennedy@kennedycom.com>, Damian Kissane <damian.kissane@db.com>, Kazuhiko Koshikawa <kazuhiko_koshikawa@sanwabank.co.jp>, ISDA LONDON OFFICE <ISDALONDON@isda.org>, Robert Mackay <robert.mackay@nera.com>, Robert Mark <markb@cibc.ca>, Marjorie Marker <marjorie.b.marker@arthurandersen.com>, Louise Marshall <LMarshall@isda.org>, "'Donna.Matthews@ubsw.com'" <Donna.Matthews@ubsw.com>, "'David Mengle (JP Morgan)'" <mengle_david@jpmorgan.com>, Thomas Montag <tom.montag@gs.com>, Don Moorehead <dmoorehead@pattonboggs.com>, Jonathan Moulds <jonm@crt.com>, "'Yasumasa Nishi (IBJ)'" <yasumasa.nishi@ibjbank.co.jp>, Dennis Oakley <dennis.oakley@chase.com>, "Liz O'Sullivan" <LOSULLIVAN@isda.org>, Ernest Patrikis <ernest.patr

2000
By Robert Hunter

The implementation date for Financial Accounting Standard 133 was pushed
back so many times that
corporate treasurers and accountants alike began hoping the elephant in the
living room would just go
away.