From: steven.kean@enron.com
To: mark.frevert@enron.com
Date: 2000-07-25 14:36:00+00:00
Subject: Re: Canary Wharf - Update for Executive Committee

Maybe we should knock down the walls of those cavernous offices on the top 
floor.




Mark Frevert@ENRON
07/24/2000 06:17 AM
To: Steven J Kean/HOU/EES@EES, Cindy Olson/Corp/Enron@ENRON, Mark 
Palmer/Corp/Enron@ENRON, Mark Koenig/Corp/Enron@ENRON
cc:  
Subject: Canary Wharf - Update for Executive Committee

Just a quick update on our real estate escapades. Regards . Mark
---------------------- Forwarded by Mark Frevert/NA/Enron on 07/24/2000 06:09 
AM ---------------------------


Fernley Dyson@ECT
07/24/2000 05:33 AM
To: John Sherriff/LON/ECT@ECT, Mark Frevert/NA/Enron@Enron
cc: Jackie Gentle/LON/ECT@ECT, Jon Chapman/LON/ECT@ECT 

Subject: Canary Wharf - Update for Executive Committee

John - as requested. You may wish to 'top and tail' this.



Enron continues to expand aggressively in Europe.  Forty Grosvenor Place, our 
European Headquarters, continues to accommodate this expansion, but the long 
lead times involved in obtaining premises in London require us to evaluate 
the future accommodation requirements of the business now. 

We are considering a number of scenarios, and have reviewed all currently 
available sites within a 25 mile radius of Central London. Ideally we would 
be looking to accommodate all Enron employees in one building, and we require 
significant swing capacity to expand or contract the space available 
depending on our business requirements.

One of the options currently available is a site being developed by Canary 
Wharf in London's Docklands. We have been looking to secure an option on this 
site so that we may properly evaluate the opportunity and consult with our 
employees.

On Friday 21 July we agreed non-binding Heads of Terms with Canary Wharf for 
the letting of 1.5m sq. ft. This was a prerequisite to obtaining exclusivity 
whereby we have until 30 September to negotiate contractual terms or walk 
away from the deal.

We will continue to evaluate other options, and there is clearly no 
commitment to conclude a deal with Canary Wharf.

An announcement was made to employees at the all staff update last Thursday 
(attached).

Media speculation has forced Canary Wharf to issue a London Stock Exchange 
Announcement confirming that we have agreed outline terms on a potential 
letting and that discussions continue.







---------------------- Forwarded by Fernley Dyson/LON/ECT on 24/07/2000 10:41 
---------------------------
   
                        	
	Enron Information Technology
	
	From:  Enron Europe General Announcement                           21/07/2000 
15:22
	

Please respond to Jackie Gentle/LON/ECT
To: ECT London
cc:  

Subject: Newsletter: EuroFlash!!

                                                                   



Yesterday morning during the all-employee staff update, Fernley Dyson, on 
behalf of John Sherriff, provided staff with an update on the impact Enron,s 
rapid growth in Europe is having on our overall space needs at Enron House.  
It was acknowledged that this is an important subject and one about which 
many employees have a lot of questions. 

The message was clear.  In the day to day decision-making process about Enron,
s commercial activities, it is critical to understand what options are 
available and to keep as many avenues open as possible.  In turn, it is 
equally important to take this same approach when looking at Enron,s future 
office space requirements.

What is the bottom line?

Looking to the future, the preference would be for all London-based employees 
to be housed in a single location.

One of the options under consideration is Canary Wharf, but we must stress 
that no decision has been taken at this time.

We are currently evaluating all the options available to us in the London 
property market.

If we are to move to a new building, it will not occur before 2003.

We will be seeking input and feedback from employees as part of the 
decision-making process.

We are committed to keeping the channels of communication open and to provide 
information to employees on a timely basis.