entouch newsletter business highlights ebs joins ews effective july 12 ebs become business unit within enron wholesale services ebs commercial support functions integrated units within ews enables us better manage resources costs support functions ebs commercial functions consolidated following units europe headed matthew scrimshaw asia headed anthony duenner americas headed rich dimichele additionally north american ebs origination teams consolidated one group led stewart seeligson north american trading risk management continue report paul racicot paul also oversee global portfolio risk management perspective global network operations continue report ebs office chairman ebs asset positions continue reviewed repositioned effectively meet future needs ebs portland office closed october 1 global strategic sourcing effective july 1 number measures recommendations implemented reduce expenditures associated among things travel entertainment professional services global strategic sourcing gss undertake important initiative would like enlist support implementation new procedures message focus travel entertainment next week message focus professional services travel entertainment enron tremendous opportunity save travel entertainment expenditures making relatively painless adjustments air travel air transportation single largest component travel mix recognition fact number significant discounts negotiated major carriers two separate channels available employees access enron negotiated fares first travel agency park tap gss approved preferred travel agency location second new enron managed online travel booking service clicktrip located coming weeks gss promoting training usage clicktrip primary method booking domestic u travel number reasons first excluding proprietary carriers like southwest airlines clicktrip provides employees easy access travel pricing options destination including enron negotiated fares second industry data shows employees generally make cost effective travel decision presented relevant facts conservatively speaking estimate 20 savings airfare attainable use tool alone third relatively painless use fourth clicktrip accessible 24 x 7 internet enabled personal computer hours telephone support available travel related questions please contact tracy ramsey ext 6 8311 one final air travel reminder worth promoting employees fly united states use non refundable coach tickets generally runs 65 percent less refundable tickets usually changed simply paying 100 fee lodging car rental gss also negotiated preferred rates number hotel chains many cities worldwide accommodate business unit individual hotel policy additionally preferred car rental rates including insurance coverage national u canada alamo u negotiated use detailed information available regarding programs travel site located enron industrial markets forest products eim began trading physical markets forest products newsprint pulp recycled paper lumber august 2000 steel january 2001 since eim handled 140 000 tons recycled paper 180 000 tons newsprint 150 000 tons pulp 160 million board feet lumber 210 000 tons steel currently weekly basis eim moving approximately 20 000 tons forest products newsprint pulp recycled paper 3 million board feet lumber 10 000 tons steel products throughout world due much larger volumes forward trading eim expanding physical product delivery capabilities around world physically handle 5 million tons per year eim logistics group coordinates activities customer service supply demand matching scheduling owned assets physical transport warehousing activities primarily coordinated houston office additional resources london singapore additionally eim owns paper mills quebec city new jersey combined production capacity 750 000 tons newsprint per month cold rolling steel mill arkansas capacity 400 000 tons per year facilities includes logistics resources coordinated eim logistics group enron global markets lng enron global lng enhanced atlantic basin lng supply portfolio volumes nigeria lng limited nlng enron global lng recently signed memorandum understanding nlng delivery 1 bcm year billion cubic meters 97 000 mcf day nlng plus project two train expansion nlng existing bonny island lng production facility expansion scheduled completion 2005 deal represents major step establishment enron global lng network egm finance structuring june 29 2001 enron global markets lng group successfully completed divestiture 100 equity interest progasco chdr inc via cash transaction progasco sells distributes lpg commercial industrial clients independent resellers fleet tanker trucks bobtail trucks 13 filling plants throughout puerto rico chdr inc record beneficial owner issued outstanding shares stock tropigas de puerto rico inc tropigas upon completion transaction tropigas hitherto 3 rd largest market player operate newly consolidated entity control 35 market share becoming 2 nd largest puerto rican lpg marketer sale proceeds approximately 14 3 million split protane wholly owned enron corp delaware subsidiary san juan gas sjg used pay inter company debt owed sjg pro caribe net pre tax gain recorded transaction 3 9 million profitable sale strategic asset allows egm exit retail propane business inherited 1985 merger three companies protane petrolane imperial gas enable enron better deploy cash received efficiently manage puerto rican human resources egm weather weather group completed deal people energy protect lower gas prices warmer normal winter innovative winter protection structured manage people exposure volume price natural gas greg penman bob beyer chicago office lead dealmakers transaction simlar deals counterparties expected come winter season also weather group started exploring new opportunities ees support effort elsa piekieniak joined group elsa looking several people help initiative interested position please contact elsa welcome new hires egm chevondra auzenne anuj gupta lois stone rich friedman eim brian gaughan jennifer basinski ena juli salvagio pepi beltran oliver jones transfers within ena jinsung myung russell diamond chris helfrich jerry farmer kenton erwin egm meredith campbell martin gleason maritta mullet dorothy burrell luis castillo james posway ted behrens michael mitcham enrononline statistics latest figures enrononline july 17 2001 total life date transactions 1 214 000 life date notional value transactions 711 billion news global flash update enron europe contribution 2 nd quarter results congratulations staff contribution another fantastic quarter hope opportunity read enron q 2 earnings released investment community houston thursday 12 th july overall business seen continued strong growth revenues increasing 100 million first half year 30 million period last year earnings per share quarter also exceeded analyst expectations came 0 45 quarter 0 34 period last year equally important however vital role enron europe played quarter contributing company overall results seeing terrific trends europe notably wholesale side continental uk nordic power gas teams keep going strength strength see exceptional growth volumes transactions continue quarter total physical financial settled volumes gas power europe seen increase 172 first six months year compared first six months 2000 total number transactions per day risen 604 272 last year specifically uk power volumes 204 147 twh first six months 2001 48 twh period last year continental gas volumes grown 351 bbtue day 2000 1 390 bbtue day 2001 296 increase continental power volumes seen growth 360 volumes rising 18 twh first six months 2000 83 twh period year growth volumes simply limited uk continental markets however nordic power volumes increased 153 29 twh 73 twh first half 2001 success stories limited gas power trading however abound throughout business enron energy services retail business experienced real boost quarter closing ees first major marquis brand energy outsourcing transaction supermarket giant j sainsbury plc equal importance enron direct business continues grow total customers excess 160 000 success enron direct business model translated development new business continent netherlands spain recently north america 2 nd quarter opening enron direct canada enron credit year enron credit launch total life date notional value transactions surpassed 11 8 billion 2 nd quarter alone enron credit generated 10 4 million ebit 20 000 readers per week view enron cost credit ecc independent publications enron australia 2 nd quarter power volumes 177 first three months year enron australia gearing strong growth year development physical power position key expanding enron power trading australia work began quarter identify begin initial pursuit asset development projects businesses undergoing significant expansion quarter coal renewable energy credits weather derivatives spain arcos arcos asset development project spain continues make great progress third party access gas supplies power project successfully negotiated quarter plus project achieved another milestone permit government approvals arena granting water concession q 2 uk etol etol long standing contributor enron europe earnings generated yet another profitable transaction quarter signing series deals chemical giant du pont supplies wilton international transaction strengthens enron relationship du pont one etol largest customers extend current steam power supply contract 2010 enron metals year entering metals business enron metals seen increased volumes 130 merchant financial trading operations quarter volumes 3 5 million tonnes compared 1 5 million tonnes 2 nd quarter last year team seen positive growth volumes quarter increased share trading lme 50 making significant progress project salem major systems improvement project streamline deal capture risk management metals transactions finally metals team achieved true home run quarter closed major ten year origination transaction addition smelting assets enable metals team improve trading position transaction proved perfect opportunity leverage enron trading origination capabilities involved input number groups across enron looking future every expectation strong growth witnessed europe first half year continue end 2001 words solomon smith barney analyst ray niles talking enron european wholesale operations results quarter europe kicking butt quarter enron activity nearly double last year new market size us legal stuff information contained newsletter confidential proprietary enron corp subsidiaries intended internal use disclosed