ENRON
		       Overview
		      (Millions of Dollars)


					    P re-I ax
					    Income

 Revised Plan Overview

 Increase EPS target from $1.71 to $1.80

* increase Wi Wholesale Earnings

 EES Variance:
   - Reduction in Plan to External Target
   - Cost of Stock Option Ailocation relief

 EBS costs included in Corporate

* Remove gain on sale of LOCs

 Increased financing costs
   Related to Sale of Assets
    Less Increase in 1811 related to Assets
   Other
    Interest Savings related to Peakers & I-IPL
    Timing of Cash

 Other (Primarily Azurix related $33, and other)

 1st Current Estimate Overview

								  90.3

								(170.0)

								  36.2

								  15.6

								  46.0

								 115.0

						      359.9
						     (271.1)

						      (77.7)
						      123.6

								  88.6


								  45.9

								  56.0

								 323.8

						      (21

 S1.t' t5i~4


									    CA.   f~~'-b~

										   AS
										       EC 001942826


										L.

GOVERNMENT
  EXHIBIT
   4545
 Qi~ No, H 04-0025





							      ENRON
						   BA RUNGS RELEASE - EXTERNAL POfiMAT

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Total Cov0Ofl & CU,.,

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INCOME R6fORE tNt. Mi. & INC. TAXES
   Iratojt=st Ez$~r,e. Not
       -  y-. ~..t.. '-4  Sc~ S 3>. ma


* -ti.AIL~.". ~

lSOflar

2001     Hal
Acts     Pbs

fl-i
Actual

1fl4        .30.0       127.9
  509       100.0       105.3
143.3       230.0       2)3.2


047.9       283.5       137.5
  87.3       80.5       871
  48.3       45.0       50.0
   8.8       8.5          -
  (1,8)      (4.4)      (,4.23
  SI         80          34
  47.1       N.j        61.5
(730.4)
(11.3)
784.8
  14.5
  6.3
  (34)
411.1)
(163)

754.5 ________

  282
  11.5 _________
  33.7
834.0)      P5.0)

'31.5)
(15.8)
(17.09
 (1.43
(98.7)
  4..

4157.51


n.j
201.3
  a.,
 -4) 3

    5

in

701.5!. JFT ikCflq~

425 1

480.3        3113
  30.6       194.4
  .4.7        4.1
  (4.5)       (4.8)
(15.1)       (2t9J
    -         (8.6)
102.0        34.4
tWA          415.7

  48.5        7.9
    *         8.6
  43.9.      '6.5

	      (0.3)


(17.1)        (8~
(100)         III
(lOS)         (3.3)
  (0.11       (0.4)
(SIB)        (61.1)
  40          8.6

1101.11      144')

  224

781.4
193.2
  1 4

  624.0
  161 I
   is."

   Cs-,'

.11291
   vi

	  2nd Gainer
 * lees      toot     ZOOS
 * IMCE      P1.4    Actual

87,7
87.7
145.4      75.0

865,8
 02.0
 54.8
 ID.?
 (3.8)
 (4.8*
 41.1
(500.0)
(188*
53 v.1
 25.2
 Is..
 (3.1)
(33.0)
(4.1)

34'.,

755      77.3
	 82.8
	 139.3

2*0.0
 70.5
 53.5
 10.3
 14.7)
 13.3
 81.6


622.7
 30.4


(34.73

331.2
 64.5
 (3.5)

 (7.8)
 19.3
 84.3


468.0
 n.e
  75
(1t~
(17.5)

50.0       (18.1)
573.0      418.9

34.0      47.0      23.3

IA.'
40

47.0      22.2

(1311     0'')

(25.33
 121
 2-7
 (0.1)
(05.8)

(10.5)

 (2.8)
 (0.1)
(SI Si

4.2       4.2

($014

I 00.1

747.1
201 .2
 II?
 40 4

1172

 (US)


(10.8)
 ISA
 0.0
 (1.2)
(35.9)
 424

4804      n.e

13.0

sea.'
ORB

		  , 2~'
	  ........a

       thu
Ab.0      337.8     371
	       (4

008.4
lOS S


~1

       3.d~
ISI       2001      m
InCA      PJan      Aclual

81.7        80.0
30.9 _________

112.8       88.0

884.7
79.7
67.8
22,0
58,4
22.0
51.9

83.0
710
158.9

187.0      343.9
79.2       51.5
88.8       (11.8)
21.8
55-8        7.0
12.5        8.8
It3        15.8

(96.6) ...~!I. _________

448,0       408.0     4362
70.0        40.4       9

(4.2)
(38.0)
(4.6)
50.0
WA

	    '.3
 (4.53      (5.2)
(441)      (23.7)

90.0        IO2
549.1      8241

55.4       845       30.0

4.
St.

004          P&4       (20.9)


(21.6)       (20.7)    (24.3)
 0.5           -         13
 (4.8)        64.5)     (3.?)
 0.2          (0.1)      1.1
(9732        (521)    (ItS)
 4.2          4,5        51

(115.1)      (83.8)

181.4         260

7,7.1
188.6
 It.,

  .7
1 22.2

(122.1)

___________               (82.7)

	       681.4      378.1
	       247.0      201.3
		 It,   I   1)7
		 255


		       .7
	     117~j        Ct,'

	     z'i4 J~
		    I,

819 0
 set
 17'

 7',
 *41

+ ZLa          .3-i,.,'

I'

	48) O~r
1001       2001       loS
ISIC*      Plan      Adusal

94.4
 57.1
181.5


257.9
815.8
100.1
 23.0
 580
10.0
34.1

(20 7*
5*4.8
49.3

 (4~2)
129M
 E6.0)
70.0
6734

 69.2
  6,0
75.2

    105.0      700.0
_______        93.5

    105.8      202.5


    218,4      510.1
    114.2      73.0
     90.0      32.4
     22.8      48.5
     57.2      24.2
     30.5      (7.0-
     582

_                .1
    3953       727.3 I
     40.7      44.1
	       36.8
     (443      (16.33
    (53.4      (33.7)

     no        ts.g


     71.0      33.2

	   71*      33.1
(N.m       35.9     4312)

 (IC))
 4,4
 (II.!)
  0i
(800.13
 12.3

(181)      (28.33
   *       28.9
(67)       (14.4)
P1)        (3.1)
wss~      (1565)
12.1       40.3

(884)       (73.13    Cl 34.1)

-fl
    8433
    89,7
    17.8

    it.
    125 1

    *31-4

at?..
234.1
43.2


'142 7

	  TObI Yen
2004        ~flj       fl55.
itt CE       14n       Actual

 307.2
 205.8
 402.8


2256.0
 074.3
 288.8
  64.4
 107.0
  502
 175.0
4830.4)
 (17.4)
2.344,5
 160,0
  20.3
 (16.8)
(114.6)

  74,0


 l88.8
  382
 1253

590.0
1805
"CA


957.9
3534
2542
 63.0
1035
 84.1
216.5

 301.2
 340.7
 731.8


1.325.?
 251.7 I
  67,3
  48.3
   92
  465
 177.7

2,079.8     i.r
 1802
  4.7         5.4
 (771)       (44.4)
 (188.2)    4100.53
	      (3.83
 2~D         245.4
	    1  9.4
 2305         94.4

			8.5
	     INS       IM.)

(85.0)       (85.0)    (5853

 (08.3)
 48.0
 (30.4
 (1.03
(389.5)
 25.5

 (75.4)
 (105)
 (301)
 (05)
(2520)
 25.4

(4443)      (143.1)

 (30.4)
 555
 (14.5)
 (3.8)
4351.33
 t5.1

(255.8)

Sn.

3,1 18.9      2,432-8
 792.4         47~.1
  7,,           'I.,

	      ...1..!
	       *~3 0

5.02 C

       2.'

	  76.5
	  Si
	 5.',
	 4411

.2,')

	   .2
 a *

_                       1130

Avg Shfl$ oSsta,6t0 . DM4.0


fl..In As.

1550                 Wa        -o

**;:;ltrZ;

805 0 '~~1 F*~J   ass o

 r
 j    az.~     taso      et.3d

Ma                 Sn         MS

.,~1 SC-

242%     mtm~     jist      24.S     tAfl     8.2%      24.0%     24.0%    nfl