PO Bex 1188
Hoesen, TX 77251-1168
Fan 1SAC-IS7F

00500000000111


From: ex mail.“Scott_Reblitz@el.onron.com”

To: ex mail(‘phyllis coffman”),Dom13.DOPO8(COFFMANP)
Date: 6/299 10:28am

Subject: Mtg’s re Bangladesh next Tues
Phyllis:

For next Tuesday's meetings, two Enron people will definitely attend:

00500000000998


Page 4 of 4

PPrrerrrrrrrrreeere Cee Cee eerie eee eee

01/22/2002

00500000000519


JAN-25-2002 1819 US TREAS INTL AFFAIRS 202 622 253% P.es

* Because power plants typically require a minimum twenty-four month
construction period, imposition of a 2002 deadiine will, in effect, terminate these

projects on the day the law is passed.

+ Export credit agencies, including US Ex-Im, and commercial lenders have
indicated that they will not provide financing to projects that do not have Treasury
guarantees or in the event the Treasury guarantee Is contingent upon mocting 3
2002 commercial operation deadiine.

« The Ministry of Energy and Natural Resources and the State Planning
Organization of Turkey are increasingly concerned that the continuing delays in
energy projects will result in extending the energy shortage into 2003.

* The imposition of a deadline for these approved BOT projects will be an
imprudent action during a period of transition in the energy sector that will erode
confidence among potential foreign investors in Turkey. According to the UN,
Turkey already ranks a lowly 54th in the world in attracting foreign direct
investment. Turkey was abie to attract only $785M of investment capital in 1999,
trailing, among others, Malta, the Dominican Republic, Egypt and Vietnam, The
proposed provision of the new energy law that will, in effect, terminate these BOT
projects that are under contract, will be detrimental to attracting increased foreign
investment in Turkey during a period of expected slow-down in the world
economy.

A strong Turkish economy is vital to a stronger Turkey. And a stronger Turkey, a critical
ally, is in the best interest of the US. Since time is of the essence, we will appreciate
your urgent actions to persuade the World Bank anc the IMF to support the deletion of
an arbitrary deadline in the proposec energy law. If the Government of Turkey in fact
has no intention of building these 29 projects, we suggest that the parties rely instead
On the termination provisions of the individual commercia! contracts.

Members of the ATC Energy Committee respectfully request a meeting with your office
in order to discuss this matter in more detail. | will contact your office to arrange 2
convenient time to meet.

Sincerely,
Vb orp
Thomas C. Briggs

Chairman
American Turkish Council Energy Committee

we TOTS BOE OT we
TOTFL P.23

00500000001792


Embassy’s efforts to increase GOA awareness as to the urgency of this matter. Azurix also wants the
USEDs at the World Bank and IDB to make the GOA and IFI staffs aware of the urgency in resolving this
dispute. We advised Azurix that Treasury would work with State and Commerce on this dispute and will
review any upcoming Argentina loans to determine if this dispute raises issues that should be factored into
the loan review process.

00500000000097


nationhood status, the company had received an emergency IMP loan. An IMF spokesman later
confirmed the paymenc.

“From what we knew of their fiduciary practices, Enron appeared to have all the hallmarks
of a typical IMF fundee," said IMF communications director Nestor Svingen. "At first, we
did balk when they asked for $232 billion, but when they explained that some of the moncy
would go to repay overdue IMF loans, we thought, ‘Oh, that's all right then.'"

"Not that we actually expect to see any money from anyone," Svingen added. *It's just this

little game we all play. Great fun if you like numbers. Do you enjoy quadratic equations?
I could do them all day."

Asked what Enron/Argentina had pledged to do with the extra $100 billion it requested,
Svingen said the application had specified funding for “civic infrastructure
improvements .*

“That usually means the president is going to build a palace,” Svingen explained.

01200000001479


Fisher, Peter

Page | of 1

From: Stephen G, Cecchetti [cecchettl, 1@osu-edu]
Sent: Wednesday, December 12, 2001 7:13 AM
To: Peter.Fisher@do.treas.gov

Subject: Ted

I can't believe that Ted Truman wants to give the IMF $300 billion... | guess that financial architecture...

I think you might really enjoy this:

hitp://www.satirewire.com/news/01 | l/enron.shtm)

steve
seeeneeseneneneees: . weeeees one
Professor Stephen G. Cecchetti Phone:
of Economics: Fax: {(b)(6)]
‘The Ohio State University
1945 North High St. email: cecchetti, }@osu.edu

Columbus, Ohio 43210-1172 homepage: economics.sbs.ohio-state.edwcecchettt

Temporary Mailing Address through 15 Dec 2001:
Visiting Scholar

Nuffield College

New Road

Oxford OX1 INF

UK

Phone: ((>\(6)]

1/17/02

01200000001476


RE: Federalist Society white paper on USA PATRIOT Act's money-lau ndering provisions Page 4 of 4

[OUTSIDE SCOPE}

01/17/2002

01200000001638


Nickoloff, Peter

From: Wiedman, Mark

Sent: Tuesday, December 18, 2001 7:52 AM

To: Roseboro, Brian; Carleton, Norman; Nickoloff, Peter; Schultheiss, Heiditlynne
Subject: FW: ENRON ADMITS IT’S REALLY ARGENTINA

ooee- Original Message-----

From: Jon Gross <jgross®projectgrad.org>

To: Mark Wiedman <Mark.Wiedmanedo.treas.qov>; Mike Grunwald <grunwaldmr@washpost .com>;
Anuj Gupta <agupta@ebal998.hbs,edu>; Eddy Daniele <eddy.daniels@enron.com>

Sent: Mon Dec 17 23:20:54 2001

Subject: FW: ENRON ADMITS IT'S REALLY ARGENTINA

oosee Original Message-----

From: jmgrose [mailto:jmgross@icademy.com]

Sent: Thursday, December 13, 2001 5:46 PM

To: Robert Vincent; Catherine Markman; Jonathan Gross
Subject: FW; ENRON ADMITS IT'S REALLY ARGENTINA

Too funny, on the slight chance you haven't already received thie.

ENRON ADMITS IT'S REALLY ARGENTINA
Now Massive Ineptitude, Corruption Make More Sense, Analysts Say

Houston, Tex: - Collapsed due to gross mismanagement and
ineurmountable debt, energy company Enron today confessed to what many
observers had long suspected: it is actually Argentina.

Congressional leaders, who have called for an investigation into the
biggest corporate failure in U.S. history, immediately dismissed
Enron's claim, but Argentinians weren't so sure. “The shady deals, The
crazy debt, I knew there was something familiar about those guys," said
Banco del Argentina director Ernesto Caballo.

Enron chairman and CEO Kenneth Lay, speaking through an interpreter via
phone from Buenos Aires, apologized for any confusion the subterfuge
may have caused, and noted that as a sovereign nation, the company was
immune from U.S. prosecution, Lay also insisted that he had not "fled"
to Argentina, but had returned home to the capital to visit "mi
familia.”

While not directly stating it, Lay also hinted that he might in fact be
Argentinian President Fernando de la Rua. Reached in Buenos Aires, de
la Rua admitted he couldn't rule that out. “Things are pretty crazy
around here. Who can say?*

But Enron creditors, clients, and shareholders, who stand to lose
billions over their exposure to the company, weren't buying any of it.
"While they may act like it, they are not a South American country, and
Ken Lay is not the President of Argentina,” declared J.P. Morgan Chase
spokesman Alex Firtilly. "They are a malfeasant U.S. corporation that
has potentially caused us to lose $500 million. And Ken Lay is from
Missouri."

25

01485

01200000000139


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00500000000442


Stewart, Elizabeth K.

sor Fees de BS 2001 10:40 AM
To: Rao, Geetha ‘ales ,
Subject: RE: India/Dabhol Meeting

Yes, | have the backgrounders. Thanks.

Original Message-—

From: Rao, Geetha

Sent: Tuesday, January 23, 2001 10:31 AM
To: ‘SKewart, Bizabeth K.

Subject: RE: India/Dabhol Meeting
Sure not a problem - Have you received any of the background material from Gene? If not, | can forward these to you.

-—-Original Message—---

From: Stewart, Sizabeth

Sent: Jomsdey, dry 23, 2001 10:29 AM
To: Rao, Geetha

‘Subject: India/Dabhiol Meeting

Geetha - Gene suggested Het |Join Gis mbethig: | has been waived in che Ene) notes Ooneeeean eee”
Hope this will be Thanks.

00500000001435


‘Senior Director
International Public Relations

<<AzurixBriefingPaperRevisedNovl9.doc>>

HORE e eee eee nese eee n eee n ere ee ee eee EEE EEE EEE eeeeeeeseeeeEee Teen enna
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.administrationgenron.com and delete all
copies of the message. This e-mail (and any attachments hereto) are not intended to be an
offer for an acceptance) and do not create or evidence a binding and enforceable contract
between Znron 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 esteppel or

00500000000083


Page 2 of 4

While net directly stating it, Lay also hinted that he
might in fact
be Argentinian President Fernando de la Rua, Reached in Buenos Aires,
de la
Rua admitted he couldn't cule that out. “Things are pretty crazy around
here
chttp://dailynews. yahoo. com/h/ap/20011130/bs/ergentina. economy_1.htsl
<http: //dailynews yahoo. com/h/ap/20011130/bs/argentina_economy 1.html>
>.
Whe can say?”

But Enron creditors, clients, and shareholders, who
stand to lose
billions over their exposure to the company, weren't buying any of it.
“While they may act like it, they are not a South American country, and

Ken

Lay is not the President of Argentina,” declared J.P, Morgan Chase
spokesman

Alex Firtilly. "They are a malfeasant U.S. corporation that has
potentially

caused us to lose $500 million. And Ken Lay is from Missouri,”
";Como?,” Lay replied. “No hablo Ingles."
he really sat on the bench

<http://wew. satirewire.com/news/011 1/images/argentina7§.)pq
<http: // wwe. satirewire.com/news/0111/images/argentinal®.>pg> >

As proof of his Argentinian roots, Enron CEO Ken Lay
faxed this

image showing him a member of the 1978 World Cup champions.

Recently ranked as high as No. 7 on the Fortune 500
list of the
largest U.S. companies, Enron literally ran itself into the ground
<http: //news.bbe.co.uk/hi/english/busins 3/newsid_1681000/1681758.stm
<http://news.bbe.co.uk/hi/english/busine: 8/newsid 1681000/1681758,stm>
> by
fudging its books, making secretive deals that enriched company
insiders,
and relying too heavily on debt. Though it was formed in 1986 with the
merger of Houston Natural Gas and InterNorth, Enron became Argentina
only
recently, said Lay, "on the advice of our attorneys.”

That counsel came none too scon. As « South American
state, all
pending U.S. and European lawsuits are rendered harmless. And the

company
escapes what had been a daily fusillade of scorn from its former home.

Indeed, much as the French were baffled by America’s
obsession with
President Clinton's sexual affairs, many South Americans say they don't
understand why Enron and ita leaders have been vilified. As former
Colombian
President Ernesto Samper explained: “In the United States, you look at
corruption as an abomination We look at it as an art.”

EXTRADITION DENIED
01/22/2002

00500000000517


DEC 44 2801 17:22 FR ENRON INTERNATICNAL 713 aS SiS: TO 912826220351 Paiva

GHS
John L Garrison
Protdent and

aes
Azurix ee an
Arurtx
IRS Chay Sirwet, Sacite 1000
Howmon, TX FOGPTMI
T1S-466Q1
Far 13-46-9577
pore Genre
December 14, 2001

Ms. Gay Hartwell Sills

Director

Office of International Investment
Department of Treasury
Washington, OC

Fax: (202) 622-0391

Dear Gay:

| want to thank you and the other Treasury officials for taking time from your
hectic schedules to meet with us to leam first-hand about the status of the $540
million investment dispute that the Azurix Corp. has with the Province of Buenos
Aires. it's my understanding that Greg Christopulous emailed members of the
Expropriation Committee about the dispute, as well as the offices of the U.S.
Executive Directors to the World Bank and Inter-American Development Bank. |
will follow up directly with the Executive Directors and hope to visit them shortly.

I'm attaching a longer version of the briefing paper for you to share with with your
colleagues at Treasury and Expropriation Committee. Meanwhile, | would
appreciate learning about any new developments on your end that might impact
on the dispute.

With best personal regards,

ery truly yours,

ment

GLOSAL WATER SOLUTIONS

00500000000112


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00500000000445


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00500000000441


Page 3 of 4

The U.S. State Department has refused to recognize
Enron as
Argentina, and a spokesman said the Bush administration has officially
requested the extradition of Lay and the officers who allegedly fled
with
him. Argentina, however, denied the request, explaining that an entire
country cannot be extradited. And besides, they added, Lay had pledged
to
help pay off the nation's $132 billion debt.

Asked where the bankrupt Enron got such a sum, Lay
explained that
after proclaiming its nationhood status, the company hac received an
emergency IMF loan. An IMF spokesman later confirmed the payment.

"From what we knew of their fiduciary practices, Enron
appeared to
have all the hallmarks of a typical IMF fundee,” said IMF
communications
director Nestor Svingen. “At first, we did balk when they asked for

$232
billion, but when they explained that some of the seney would go to

repay
overdue IMF loans, we thought, ‘Oh, that's @il right then.'"

“Not that we actually expect to see any money from
anyone,” Svingen
added. "It's just this little game we all play. Great fun if you like
numbers. Do you enjoy quadratic equations? I could do them all day.”

Asked what Enron/Argentina had pledged to do with the
extra $100
billion it requested, Svingen said the application had specified
funding for
“civic infrastructure improvements.”

“That usually means the president is going to build a
palace,"
Svingen explained.

PerrreeeUTOCTCCTCetrrerrerr iii titi titel ltteer e eee

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 ofa
contract by estoppel or otherwise. Thank you.

Peper rrrrerrrrrrrrrrrrrrrirr et Seti tit ttt

01/22/2002

00500000000518


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00500000000109


investment-grade credit rating forces some $3.9 billion in debts to come due immediately, a major
problem for a company that has spent most of the $5.5 billion it sought in recent weeks to stay afloat.
Enron said in a recent regulatory filing that it was unlikely to “continue as a going concern” were its
credit rating to be slashed to junk status.

Analysts say it’s still not clear just how much debt is out there. Prudential Securities energy analyst
Carol Coale estimates the total - both on and off the books - at about $23 billion. How could the
company hide so much debt from analysts and investors? Part of the reason stems from the company’s
insistence that its business model relied on proprietary trading strategies that it could not disclose to its
competitors, Coale said. The lesson learned is that managements do lie,” she said. “And analysts need to
be less trusting of management when they have poor financial disclosure.”

Enron's customers have been scrambling to find other energy companies to trade with. Dynegy CEO
Watson said Wednesday there was a “a clear flight to quality” underway in the energy markets, and that
Dynegy was in a position to pick up a piece of that business “with virtually no incremental cost to us.”
Dynegy has about $75 million in exposure to possible trading losses with Enron, he said. Watson also
said Wednesday that Dynegy has exercised an option to buy Northern Natural Gas - Enron's largest
interstate distribution system with some 17,000 miles of pipeline that stretches from the Permian Basin
of Texas to the Great Lakes, ChevronTexaco Corp., which owns 26 percent of Dynegy’s stock,
contributed $1.5 billion to Dynegy as part of the transaction.

INVESTOR PAIN

Watson insisted the business model that Enron had pioneered remains sound, but stocks in other
companies with energy trading operations moved lower. But whatever the long-term impact on the rest
of the energy industry, Enron's legacy will almost surely be the wide swath it cut through its investors”
portfolios,

“They (Enron) entrapped the sophisticates,” said Robert Stovall, senior strategist at Prudential
Securities, referring to what was once an almost fawning admiration for Enron by institutional investors.
“I think this is going to become a classic case.”

Stovall, with nearly $0 years of Wall Street experience, said he could not recall any previous corporate
unraveling that matches that of Enron.

“You would have to go to pre-SEC days for that,” he said, referring to the creation of the SEC in the
aftermath of the stock market crash of 1929.

Enron has also left its financial backers with egg on their faces. J.P. Morgan Chase and Citigroup, who
were advising the company in merger talks, have already contributed an estimated $1 billion to the deal -
much of it unsecured, according to analysts. Citigroup shares were off $2.30, or 4.55 percent, at $48.25
on the New York Stock Exchange, while J.P. Morgan shares were off $2.37, or nearly 6 percent, at
$37.43.

Enron's collapse will be felt around the world, especially in Europe where the company had expanded
into in most major cities. Until recently, Enron had accounted for about 30 percent of German wholesale
power trading. It was also a major player in U.K. gas and electricity, and Nordic power, and was driving
forward a fledgling French power market.

00500000000090


{(b)(4)}

00500000000451


{(b)(4)]

00500000000448


Keith L, Miceli

Senior Director

tnternational Public Relations
Bnron Corp.

(723) 345-5956 - voice

(713) 646-7078 - fax

Email - keith.miceligenron.com

~David

00500000000085


From: Sills, Gay

Sent: Friday, November 30, 2001 3:02 PM
To: hristopulos, Greg

Subject: RE: Enron Request Follow-up

Original Message-----
Christopulos, Greg
: Friday, November 30, 2001 12:20 PM
Sampliner, Gary: Resnick, Bonnie; Wallace, James; Sills, Gay; Epst
Subject: RE: Enron Request Follow-up

i hear the wine and she beer are fine.
He wants to meet on she i¢th or the 1ith.

oesee Original Message-----

From: Sampliner, Gary

Sent: Friday, November 30, 2001 11:56 AM

To: Christopulos, Greg; Resnick, Bonnie; Wallace, James; Sills, Gay;
Epstein, Natan

Subject: RE: Enron Request Follow-up

ll be just getting back from Buencs Aires by shen, and should be around -- the question
"a like to ask is whether I will live if I drink the water while I'm there.

-Original Message-----
From: Chriscopulos, Greg
Sent: Friday, November 30, 2001 11:54 AM
To: Sampli Gary; Resnick, Bonnie; Wallace, James; Sills, Gay;
Spstein, Nasan
Subject: FW: Enron Request Follow-up
Importance: High

Enron -- or what's left of it -- wants to come in and talk to us about this dispute on Sec
29 or 12 while I'm out of town.

He called this morning but he was not in when I called him back.

They have filed a claim with ICSIO. but prefers a negotiated solution, I will be sending
another e-mail shorely/

Original Message -----
From: David Katz {mailto:DKATZéustr.gov)
Sent: Wednesday, November 26, 2002 7:26 eM
To; greg.christopulcséde.treas.gov; R Federal Record
Subjecc: Enron Request Follow-up

Greg.

After internal discussion here at USTR, we have decided that [(b)(5)]

They are already going over to State,
and they also plan to meet the Argentine Ambassador. I know that they are interested in
meeting with Treasury. Keith Miceli from Enron has asked for a contact at Treasury. Any
objection to my giving him your email and/or number? Alternatively, you can contact him
per the information below.

00500000000084


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00500000000110


model, Enron’s stock traded earlier this year above $80 a share. It was recently ranked seventh on the
Fortune 500 list of the biggest U.S. companies.

But in a stunning reversal, Enron’s commanding share of U.S. energy trading has all but evaporated,
Following the collapse Wednesday of merger talks with Dynegy, Enron’s shares closed Wednesday at 61
cents, wiping out virtually all of the $80 billion in value its stock investors held less than a year ago.

Though analysts say it is all but certain the company will seek bankruptcy protection, the company faces
a huge mountain of debt - the size of which is not fully known, And many of Enron's most attractive
assets have already been pledged as collateral for a series of loans the company sought to stay afloat.
“All the debt is in question,” said Jon Cartwright, a senior energy analyst at Raymond James &
Associates Inc., after the downgrade by Standard & Poor's, one of the agencies. “It is inconceivable that
Enron can continue as a going concem.” In response to the credit rating downgrade and Dynegy's
announcement that it was ending merger talks, Enron said it will temporary suspend all payments other
than those necessary to maintain its core operations

Kenneth L. Lay, Enron's chairman and chief executive, said the company was evaluating and exploring
other options to protect its core energy businesses.

But analysts said there was little in the way of a viable business left to pretect.

“[ don't think there's too much to break up anymore,” according to A.G. Edward analyst Mike Heim.
“What you're left with is people and outdated computers. ~

. The company also faces a blizzard of lawsuits from those Enron workers, whose jobs are now at risk.
Many have lost hundreds of thousands of dollars on Enron stock held in retirement accounts, wrecking
dreams of a comfortable retirement for some. It's been a painful experience for people like Enron
employee Roy Rinard, who was invested heavily in Enron stock.

“T'm basically wiped out,” said the 54-year-old Rinard, who lost more than $400,000 as a result of
investing all of the funds in his 401(k) retirement account in Enron stock.

SWIFT SLIDE

Enron's collapse began earlier this year but picked up speed six weeks ago with the announcement of a
$638 million quarterly loss. Investor and customer confidence eroded further after the company admitted
it had overstated earings by almost $600 million since 1997.

The disclosure of the company’s so-called “off-balance sheet” debts - those not carryed on its books nor
disclosed to investors - heightened concems about its financial health, Those debts were hidden in a
series of partnerships which included top Enron executives, including its now-ousted chief financial
officer Andrew Fastow. The deals, in which Fastow eamed about $30 million in management fees, are
the subject of a Securities & Exchange Commission investigation.

The final blow came when Dynegy on Wednesday accused Enron of breaching a takeover agreement
negotiated on Nov. 9, and invoked an escape clause that let it pull out of the all-stock deal valued at
about $9 billion at the time.

In a terse conference call with Wall Street analysts, investors and reporters, Dynegy Chairman and CEO
Chuck Watson said early Wednesday afternoon that merger talks had broken down because Enron had
breached the original merger agreement, “including the material adverse change provision.”

Watson said the merger was off because the company didn't want to risk its “franchise, credit or
credibility.”

“We weren't going to do anything to jeopardize our stakeholders,” he said. “Sometimes a company’s
best deals are the very ones they did not do.”

DEBT AVALANCHE

In calling off the merger, Dynegy was fleeing an impending avalance of debt. Alll three major credit
rating agencies had downgraded Enron’s bonds to junk status by the time Dynegy called off merger
talks, That lit the fuse on a debt bomb that Enron is unlikely to be able to defuse. The loss of Enron’s

2

00500000000089


((b)(4)]

00500000000443


2001-SE-000537

Kenneth L Lay
Chairman and
S Chief Execetive Officer
%,
Enron Corp.
PO. Box 1188
anual Houston, TX 77251-1188
: nv Re, 2) (719) 833-6773
The Honorable Paul O'Neill eueee
Secretary

US Department of Treasury
1500 Pennsylvania Avenue, NW
Room 3330

Washington, DC 20220

Dear Paul:

In my capacity as Vice Chairman of the Business Council, | am writing to
invite you to address the morning session of our winter meeting at the Park Hyatt
Hotel in Washington, DC on February 22, 2001. If you are able to join us, which
we very much hope you are, we will work with your staff to determine the most
convenient time for you to speak. We envisage about a 20-minute speech with
10 to 15 minutes with our members.

The Council, formed in 1933, is a voluntary association of America's top
100 or so business leaders dedicated to service in the national interest. As a
gathering of current and former Chief Executive Officers from virtually every
major industry, the Council is entirely an educational and deliberative forum, The
Council does not take positions as an organization; instead, it provides a forum
for exchange between the leaders of the US business and government
communities in an effort to achieve greater understanding and consensus on the
important issues facing our country.

Our winter meeting is held In Washington, DC in order to facilitate broad
participation by our nation's top political leaders including the President, Cabinet
officers and Congressional majority and minority leaders. We would be delighted
to have your participation at this winter's event.

Please feel free to call me directly, or have someone on your staff contact
Philip Cassidy (Business Council) at 202-298-7650 or Linda Robertson (Enron)
at 202-466-9159.

Sincerely,
fen)

Natural gas. Electricity. Endless possibilities.TM

00100000000575


[OUTSIDE SCOPE , (b)(5)}

00500000002402


Christopulos, Greg

From: Christopulos, Greg

Sent: Friday, November 30, 2001 12:20 PM

To: Sampliner, Gary; Resnick, Bonnie; Wallace, James; Sills, Gay, Epstein, Natan
Subject: RE. Enron Request Follow-up

I hear the wine and the beer are fine.
He wants to meet on the 10th or the 11th.

<---> Original Message-----

From: Sampliner, Gary

Sent: Friday, November 30, 2001 11:56 AM

To: Christopulos, Greg; Resnick, Bonnie; Wallace, James; Sills, Gay;
Epstein, Natan

Subject: RE: Enron Request Follow-up

I'll be just getting back from Buenos Aires by then, and should be around -- the question
i'd like to ask is whether I will live if I drink the water while I'm there,

ated Original Message-----

From: Christopulos, Greg

Sent: Friday, November 30, 2001 11:54 AM

To: Sampliner, Gary; Reanick, Sonnie; Wallace, James; Sills, Gay;
Epstein, Natan

Subject: FW: Enron Request Follow-up

Importance: High

Enron -- or what's left of it -- wants to come in and talk to us about this dispute on Dec
10 or 11 while I'm out of town,

He called this morning buc he was not in when I called him back.

They have filed a claim with ICSID, but prefers a negotiated solution. I will be sending
another e-mail shortly/

eres Original Message-----

From: David Katz [mailto:DXATZeustr.gov)

Sent: Wednesday, November 28, 2001 7:26 PM

To: greg-christopuloseédo.treas.gov; R Federal Record
Subject: Enron Request Follow-up

Greg,

After internal discussion here at USTR, we have decided that [(b)(5)]

They are already going over to State,
and they also plan tu meet the Argentine Ambassador. I know that they are interested in
meeting with Treasury. Keith Miceli from Enron has asked for a contact at Treasury. Any
objection to my giving him your email and/or number? Alternatively, you can contact him
per the information below.

Keith &. Miceli

Senior Director

International Public Relations
Enron Corp.

(713) 345-S956 - voice

(723) 646-7078 - fax

Email - keith.micelig@enron.com

00500000000092


Christopulos,

From: Christopulos, Greg

Sent: Friday, November 30, 2001 11:54 AM

To: Sampliner, Gary; Resnick, Bonnie; Wallace, James; Sills, Gay; Epstein, Natan
Subject: FW: Enron Request Follow-up

Importance: High

Earon -- or what's left of it -- wants to come in and talk to ua about this dispute on Dec
10 or 11 while I'm out of town.

He called this morning but he was not in when I called him back.

They have filed a claim with ICSID, but prefers a negotiated solution. I will be sending
another e-mail shortly/

-----Original Message-----

From: David Katz (mailto:DKATZ@ustr.gov]

Sent: Wednesday, November 28, 2001 7:26 PM

To: greg.christcpulos$dce.treas.gov; R Federal Record
Subject: Enron Request Follow-up ~

Greg,

After internal discussion here at USTR, we have decided that {(b)(5))

They are already going over to State,
and they also plan to meet the Argentine Ambassador. I know that they are interested in
meeting with Treasury. Keith Miceli from Enron has asked for a contact at Treasury. Any
objection to my giving him your email and/or number? Alternatively, you can contact him
per the information below.

Keith L. Miceli

Senior Director

International Public Relations
Enron Corp-

(713) 348-5956 - voice

(713) 646-7078.- fax

Email - keith.miceligenron.com

-David

00500000000091


JeN-25-2201 16:19 US TREAS INTL AFFAIRS 282 622 2535 P.O1

ag (et
f te he
[2 TACOVERIBHEET, oo, 6

NRON, WASHINGTON
ATS Bye Sweet Sroet, NW. PE a
Washington, OC 20006 cor
202-828-3360 Lame ohe- (ale.

202-828-3372 (fax) . gene
TO: W. them = }, uere kK « Con throe

FROM: Tom Briggs ae
FAX #: 202- $9a-2536

of Conn ne
RE: Tarkish Energy Sec CO Chine te - Fa
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3

Number of pages including cover cheat:

Message:

00500000001790


[(6)(4)]

00500000000450


[OUTSIDE SCOPE , (b)(5)]

West Bank/Gaza
[OUTSIDE SCOPE , (b)(5)]

00500000002403


{(b)(4)]

00500000000449


Christopulos, Greg

From: Christopulos, Greg

Sent: Thursday, November 29, 2001 12:56 PM
To: Sampliner, Gary, Almond, Gary
Subject: FW: Enron nears final collapse
fyi

~——Original Message=----

From: Rao, Geeta

Sent: ‘Thursday, November 29, 2001 12:41 PM

To: Kifeyat, Adnan; McDonald, Larry; Milts, Marshail

ca Chnstoputes, Greg

Subject: RE: Enron nears final collapse

Yup - down from $80 a share in February...

amrigjinal Message
From: Kifeyat, Anas
Sent: Thursday, November 29, 2001 12:35 PM
To: Rao, Geetha; McDonald, Larry; Méls, Marshal
Ce:

Cinstopuios, Greg
Subject: RE: Enron nears final collapse
i heard their stock was “trading” at 65 cents a share yesterday!!!

-==-Oniginal Massages

From: Rao, Geetha

‘Sent: Thursday, November 29, 2001 9:29 AM

To: MeDonaid, Larry; Mills, Marshall; Kifayat, Adnan
ca Crnstoputes, Greg
‘Subject: Enron nears final colagse

Inplications for Dabhol? looks like any resolution of Dabho! project will be further delayed. Enron was
in the middle of negotiations with Tata Power and BSES to sell its stake but given all that has happened
in the last few weeks, Enron probably won't have time to continue those negotiations.

Enron nears final collapse

End of merger talks, debt downgrade all but seal the company’s fate, analysts say

Nov. 28 - The collapse of Enron Corp. - which rose during the 1990s
from a sleepy natural gas distribution company to become one of the
largest U.S. corporations - picked up speed Wednesday as merger
talks broke off with rival Dynegy Corp. and its debt was downgraded
by another rating agency. As its energy trading customers fled and its
cash problems mushroomed, analysts said the company’s options
were fast running out.

AS RECENTLY as February, Enron's energy trading business - and its stock price - were riding high as
the company rapidly expanded, buoyed by the volatility in natural gas prices and the deregulation of the

electricity industry. Encouraged by glowing Wall Street reports on the company’s cutting-edge business
1

00500000000088


ceeeeEEeErES ~COT, JOUR - cemeeeenemeneeenmes OTE [AN-O5-2082 emcee TIME 16:27 <eeeeeew

PRKE = HENGRY TREEISSION START#20N-O8 16:26 BO=Se-O8 16127
FILE 10.008
STN NO. COMM. = AER NO. STATION MEME-TEL NO. 9 PAGES «= SURRTION TMN Ww
oe: 7 «46> DeeLFRD eeL-a21 ee:eR:19 \-4y
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See ee eT ae NS ons ote na cena ee
Jenn L Garrieea
a)
Azirix Tee
Loshal
SES Cy oe, Str 1008
We Piranen, XFIT
Y Tibbs
XS Sa TESTI
January 7, 2002 yp phrasal

The Of this letter is to request an appointment with you on ether January
14 oF 15 to brief you on tast-oreaking developments in Azurix’s haifa bilion dollar

neeernent capute the Republic of Amgentins, arising out of our concession
with the of wires: T ie Aires later this week to
Pursue the matters that! shared with you in my letter of January 3. Keith Miceli
will call your office to see f there is @ convenient time in your hectic schedule tor

a brief meating.

Hoping to see you next week, with best personal regards, \

Very truly yours, we
Me

GLOBAL WATER SOLUTIONS

a. ew

005000000001 16


RE: Federalist Society white paper on USA PATRIOT Act's money-lau ndering provisions Page 3 of 4

[OUTSIDE SCOPE]

.

01/17/2002
01200000001637


From: Barline Hoffman

Tor EICHENBERGERJ

Date: 6/22/99 10:04am

Caller: Scot Reblitz

Company: Enron Company

Phone: 202 466-9152
{ ] Telephoned {*] Please call
{ ] Will call again { ] Returned your call
{ 1] Wants to see you { ] Came to see you
U ] Urgent

Representative of the Enron Co. will be meeting with DAS Bill Schuerch
Wednesday afterncon would you like to attend or could we brief you before the
meeting. Subject: Power Plant in Bangladesh./ Also Jan Piercy called.

0500000000994


duereimisss lsta> ENAUN INI E}NE I LUNE ae sane reer

Dear Deputy Assistant Secretary Schuerch:

Following John Hardy's call to your office today, we are looking forward to meeting you this
‘Wednesday afternoon (time to be determined). In advance of that find a brief
summary of Enron's current efforts a Project and concems related

to recent discussions with the World Bank, —>——_——

Enron is proposing a short-term power project (150 megawatts, natural gas for fuel, 5-year

duration) to alleviate the critical power shortages Bangladesh faces over the next 3-5 years. Our
efforts, going back some 12-18 months, advanced to the point of contract discussions with the
Bangladesh Power Development Board—discussions which were halted when, in May, the World
Bank issued a letter, urging the Bangladeshi's to reject short-term, emergency power projects
such as Enron's. At its core, the World Bank argument against such projects is based on two
premises; 1) the Bangladeshi's cannot afford the power being offered under short term contracts;

and 2) efforts aimed at curing the short-term power supply problems distract the Bangladeshi’s ?
from implementing the longer-term sectoral reforms which the World Bank advocates. -

While Enron is actually a strong supporter of the reforms the Bank is seeking, we do not look at
those reforms as being mutually exclusive with our proposal. To date, our efforts to engage the
Bank on potential solutions have achieved little—a status which is of growing concern as we see
real economic and development impacts associated with our project. Furthermore, we see the = >
——~1 power supply/demand imbalance continuing, even if events of the next 3-5 years aimed at ms { >
increasing power capacity unfold precisely as planned. den é

moving the issue closer to a mutually agreeable solution. Again, we look forward to visiting with
Asst psconeh Should you have any questions or need additional information in advance, feel
to contact me. .

Sincerely,
Scort D. Reblitz
Natural gas. Electricity. Endless possibilities.TM

TOTAL P.@2

00500000000997


Fisher, Peter

From: Smetters, Kent

Sent: Tuesday, December 18, 2001 2:53 PM

To: Fisher, Peter; Clarida, Richard; Smith, Chris
Subject: FW: Pink Palace Unmasked!

ENRON ADMITS IT'S REALLY ARGENTINA
Now Massive Ineptitude, Corruption Make More Sense, Analysts Say

Houston, Texas - Collapsed due to gross mismanagement and
insurmountable debt, energy company Enron today confessed to what many observers had long
suspected: it is actually Argentina.

Congressional leaders, who have called for an investigation into the biggest corporate
failure in U.S. history, immediately dismissed Enron's claim, but Argentineans weren't so
sure. “The shady deals. The crazy debt. I knew there was something familiar about those
guys," said Banco del Argentina director Ernesto Caballo.

Enron chairman and CEO Kenneth Lay, speaking through an interpreter via phone from Buenos
Aires, apologized for any confusion the subterfuge may have caused, and noted that as a
sovereign nation, the company was immune from U.S. prosecution. Lay also insisted that he
had not *fled* to Argentina, but had returned home to the capital to visit "mi familia.*

While not directly stating it, Lay also hinted that he might in fact be Argentinian
President Fernando de la Rua. Reached in Buenos Aires, de la Rua admitted he couldn't rule
that out. "Things are pretty crazy around here, Who can say?"

But Enron creditors, clients, and shareholders, who stand to lose billions over their
exposure to the company, weren't buying any of it. "While they may act like it, they are
mot a South American country, and Ken Lay is not the President of Argentina,* declared
J.P. Morgan Chase spokesman Alex Firtilly. “They are a malfeasant U.S. corporation that
has potentially caused us to lose $500 million. And Ken Lay is from Missouri."

"eComo?,* Lay replied. “No hablo Ingles.*

As preof of his Argentinian roots, Enron CEO Ken Lay faxed an image showing him as a
member of the 1978 World Cup champions.

Recently ranked as high as No. 7 on the Fortune 500 list of the

Largest U.S. companies, Enron literally ran itself into the ground by fudging its books,
making secretive deals that enriched company insiders, and relying too heavily on debt.
Though it was formed in 1986 with the merger of Houston Natural Gas and InterNorth, Enron
became Argentina only recently, said Lay, “on the advice of our attorneys.

That counsel came none too goon. As a South American state, all
Pending U.S. and Buropean lawsuits are rendered harmless. And the company escapes what had
been a daily fusillade of scorn from its former home.

Indeed, much as the French were baffled by America's obsession with President Clinton's
sexual affairs, many South Americans say they don't understand why Enron and its leaders
have been vilified. As former Colombian President Ernesto Samper explained: “In the United
States, you look at corruption as an abomination. We look at it ag an art.*

EXTRADITION DENIED

The U.S. State Department has refused to recognize Enron as Argentina, and a spokesman
said the Bush administration has officially requested the extradition of Lay and the
officers who allegedly fled with him. Argentina, however, denied the request, explaining
that an entire country cannot be extradited. And besides, they added, Lay had pledged to
help pay off the nation's $132 billion debt.

Asked where the bankrupt Enron got such a sum, Lay explained that after proclaiming its
1

01200000001478


{(b)(4)]

00500000000446


RE; Federalist Society white paper on USA PATRIOT Act's moncy-lau ndering provisions Page 2 of 4

[OUTSIDE SCOPE]

01/17/2002
01200000001636


From: Sills, Gay

Sent: Frcay, November 30, 2001 3:04 PM

To: Christopulos, Greg; Resnick, Bonnie; Epstein, Natan, Sampliner, Gary, Wallace, James
Subject: RE: Request for Meeting re. Azurix Corp Dispute with the Province of BA in Argentina

I will do the meeting. Set it up please. You can leok at my calendar for a time
ik to dee if you can*t get in my calendar. Let's do in the morning.

--++--Original Message-----

From: Christopulos, Greg

Sent; Priday, November 30, 2001 12:23 PM

To: Resnick, Bonnie; Epstein, Natan; Sampliner, Gary; Sills, Gay; Wallace, James
Subject: FW: Request for Meeting re. Azurix Corp Dispute with the Province of BA in
Argentina

i
a

<< File: AzurixBriefingPaperRevisedNovi9.doc >> Bonnie -- As they say in NY: da bali
ur court.

Tanks.

o+0-- Original Message-----

From: Miceli, Keith (mailto:Keich.Miceligenron.com}

Sent: Friday, November 30, 2001 12:92 PM

To: greg.christopulos#do.treas,gov

Subject: Request for Meeting se. Azrurix Corp Dispute with the Province
of BA in Argentina

November 32, 2002

Greg Christeopolus
International Econom-st
ernational affairs
ury Ceparcment
Washington, D.C.

Dear Greg: .

Thanks for offering to arrange a meeting with John Garrison, President
and C&O of the Azurix Corp. and myself. The purpose of the meeting to
provide a briefing on the status of a half a billion dollar investment
dispute that the Azurix Corp. has with the Province of Buenos Aires.
Attached is a confidential briefing paper that provides a history of che
dispute; our efforts to resolve it amicably; the lack of good will on
the part of the Provincial autaorities to find a resolution, and some
suggestions to break the impasse to the benefit of all parties
concerned.

I understand that you will be on travel for those dates, and that you
will speak fh Bonnie Resnick about meeting with us I be
contacted at (713) 345-5956 or keith.miceligenron,com to finalize
arcangements. Many thanks,

Sincerely,

Keith L. Miceli

00500000000082


January 22, 2002

MEMORNADUM FOR SECRETARY LAWRENCE SUMMERS

FROM: STUART E, EIZENSTAT
SUBJECT: WEEKLY REPORT FOR WEEK ENDING JUNE 30, 2000

[OUTSIDE SCOPE , (b)(5)]

00500000002401


Jeei-25-2031 16:19 US TREAS INTL AFFAIRS 222 622 2536 P.G2

_

Thomas C. Briggs
Vice Prevent
Gevarement Affears
%, G Enron Corp.
%, 1775 Bye Stet, NW, Suite 60D
Weshingian, DE 10006
22 January 2001 102-466-9169
Fax 202-626-1172
The Honorable William Schuerch —
Deputy Assistant Secretary
For Internationa! Development,
Debt and Environmental Policy

U.S. Department of Treasury
1500 Pennsyivania Ave., N.W.
Washington, 0.C. 20220

Hon. W. Schuerch,

| am writing on behalt of the American Turkish Council and its Energy Committee to
request your support in a matter that is of great importance to American developers of
power projects in Turkey and to the Turkish economy. In briof, we ask that you exercise
the influence of the United States in the World Bank to moderate the Bank's insistence
that Turkish Traasury guarantees for 29 projects be conditioned on entry into service of
the power plants by the end of 2002. These 29 projects already have been approved
and, in many cases, substantial sums of money have been expended in refiance on the
availability of Turkish Treasury guarantees that are now threatened by the World Bank's
new policy. Moreover, termination of these projects will engender an unacceptebis risk
of power shortfalls in Turkey that will threaten economic growth, as well as consumer

well being.

The proposed, fast track energy legislation for deregulation of the energy sector in
Turkey is currently Deing debated in the Turkish Parliament and is expected to come up
for a vote within a week. One provision of this proposed legislation concerns a ceadiine
of 2002 during which 29 approved build-operate-transfer (BOT) projects would have to
teach commercial operation in order to qualify for Turkish Treasury guarantees. Worle
Bank and the IMF are advocates of such a deadline, questioning the need for additional
BOT projects claiming that Turkey will have an energy surplus in 2003. Two of these
BOT projects are being co-developed by American companies.

The Energy Committee of the American Turkish Council has long advocated
appropriate deregulation of the Turkish energy sector and we support the goal of
eliminating the need for Turkish Treasury Guarantees. However, the ATC recognizes
that a dolicate balance must be struck between eliminating Treasury Guarantees and
continuing to provide the Turkish energy sector with much needed investment. In this
instance the ATC strongly believes that the arbitrary 2002 deadline is bad policy for
American developers and for the Government of Turkey for the following reasons:

Endless possibilities."

00500000001791


On.

Azurix

7 ar

To: Greg Christopulos A v | yu
Company:

Phone:

Fax: (202) 622-0391 ny mar)

From: Keith Miceli wv
Company: Azunx Corp yr

Phone: 713 345 5956 t

Fax:

Date: January 8, 2002

Pages including 2
this cover page:

TO WHICH IT |S ADDRESSED, AND MAY CONTAIN INFORMATION THAT IS PRIVELEGED,

COMMUNICATION IS STRICTLY PROHIBITED, IF YOU HAVE RECEIVED THIS FACSIMILE
TRANSMISSION IN ERROR, PLEASE IMMEDIATELY NOTIFY THE SENDER BY TELEPHONE SO THAT
WE CAN ARRANGE FOR ITS RETURN.

Comments:

Chris: Attached is the letter that John Garrison, the President and CEO of the Azurix Corp
sont to Gay re. the half % Dillion Investment dispute in Argentina. As you will read,
Garrison and | would like to meet with her, a3 well as you and Gary next Monday or
Tuesday. Please advise how to best proceed to arrange such an appointment. Regards,
Keith

10" 2:01 2007 ver 820-979-212: XB 3 ad “ENOLLENA

00500000000105


RE; Federalist Society white paper on USA PATRIOT Act's money-lau ndering provisions Page | of 4

Ellis, Dina

From: Cochran, Andy [Andy.Cochran@mail_house.gov]

Sent: Monday, December 10, 2001 1:36 PM

To: Bert Ely; Rockett, James

Ce: leo@fed-soc.org; Joel Pardue; Rockett, James; jpickeri@baich.com;
macey@postotfice.law.comell.edu; Jullus_l_Loeser@comerica.com; dina.ellis@do,treas.gov;
PWallison@aei.org; chazfisher@hotmail.com; Bharaf@bofasecurities.com;

lawler_pw@pillsburylaw.com; tzywicki@gmu.edu; hray@andrews-kurth.com; jdouglas@alston.com;
whelmar@att net; krabois@paypal.com; anne.fortney@lovelts.com

Subject: RE: Federakst Society white paper on USA PATRIOT Act's money-lau ndering provisions
Plus the Enron matter, about which we are having a hearing on Wednesday...

[OUTSIDE SCOPE]

01/17/2002

01200000001635


Jeet @? 2@2 19:24 FR ENRON INTESNATIONAL 713 eS $151 TO 912828220291 P.a1-a.

pr stg gun
urix pee

Agus
333 Chay Sores Suite 1000
Hamm, TX 77002-7561
13-62!
Fae TI-AE ISTP
January 7, 2002 sper @ecrizcome
GHSs
Fe
Ms. Gay Hartwell Sills
Director
Office of International Investment
Department of Treasury
Washington, OC

Via Fax: (202) 622-0391

Dear Gay:

The purpose of this letter is to request an appointment with you on either January
14 of 15 to brief you on fast-breaking developments in Azurix's half a billion doilar
investment dispute with the Republic of Argentina, arising out of our concession
with the Province of Buenos Aires. | plan to be in Buenos Aires later this week to
pursue the matters that ! shared with you in my letter of January 3. Kelth Miceli
will call your office to see if there is a convenient time in your hectic schedule for
a brief meeting

Hoping to sea you next week, with best personal regards,

Very truly yours,

|

GLOBAL WATER SOLUTIONS

we TOTRL PACE.OL =

00500000000107


Christopulos, Greg

_

From: Grewe, Maureen

Sent: Tuesday, January 23, 2001 8:55 AM

To: Rao, come Mais, Marshall; Sampliner, Gary; Christopulos, Greg; Clapp, Gene
Subject: RE: India/Dabhol Meeting

Please note the fotowing article from this morning's press summary:
US Envoy: India’s Enron Project Key To Foreign Investment

BOMBAY (AP)--U.S. Ambassador to India Richard Celeste warned Monday that
foreign investment in India would falter because of political oeod Proseunoe that
threatened to derail the $3 billion Enron Corp. (ENE)

“It regrettably feeds the concern among American and other foreign investors
that India remains a less-than-reliable destination for their investment
dollars,” Celeste told an audience of business leaders, politicians and
Nongovernment agencies in Bombay, India's financial nub.

India’s largest-ever Yer tral il glint st derdphya tear pad
after the government of rashtra state, in which Bombay is situated, said it
would review @ power-purchase agreement with U.S. energy giant Enron Corp,
Maharashtra considers the power rates being charged are exorbitant.

The agreement signed in 1995 details the rate at which Enron's Incian
subsidiary, the Dabho! Power Co.., will sell electricity to the state.

The project's first phase, S bower plan) ot 720 eaceves already has been

commiss:oned, while the second phase of 1,444 megawatts is scheduled for
Completion by end 2001.
Depreciation of the Indian rupee and high cost of naphtha used to generate

electricity caused generated Enron project to touch 7 rupees a
phd eeu INRT 0 agree on when the deal was red a Yor 99
(S1siNi

Enron has said it saw no current need to renegotiate the tariff and maintained that a transition from naphtha to liquefied
Natural gas would reduce the tariff.

Celeste, an appointee of former U.S. President Bill Clinton, said he hoped
both sides would Teil 9 soxston in oniping deoussians, but cautioned that

“percept ign investors will be affected by the
challenge to Dabhol and how it is resolved ~

He said despite partnerships in software and information technol ogy. US.
inrveencrs ware wary of in-aal Décaese of opical presmures a tie 6 and
state level that had slowed the economic-reform agend:

Stressing the need to strengthen business les win India, Celeste focused on
the Enron project and asked that “The Dabhol power piant remain a symbol of
successful American investment in India and not a bra symbol of the impediments that
Still hinder even greater foreign direct investment.”

Copyright (c) 2001 Dow Jones and Com;
Received by NewsEDGE/LAN; 1/22/01 eM

oo ¢ Foren Message-—-
Geetha
Sent Laceby Senin 22, 2001 3:01 PM
1S. Grewe, lis, Marshall, Sampliner, Gary, Christopulos,
ere Sere: Gene
eve

Soins FW: india/Dabnol Meeting

Attached is background material for the Enron meeting on Wednesday. Pls. note Mr. John Hardy will also be attending
— teak Messai
From: Tom. Brggs@renron com (mailto: Torn. Briggs@enron.com|

1

00500000000050


TAW81-1995 16:25 ENRON INTERNATIONAL 202 331 4717 P. 1-81

Scott D, Reblitz
General Maneger
Project Finance

Up Enron International
2, 1775 Eye Street, NW, Suite 809
Washington, DC 20006
(202) 466-9152
Fox (202) 391-4717
1 July, 1999 areblit@elevron com

Elizabeth Kirk Stewart

Office of the Assistant Secretary for Intemational Affairs
U.S. Department of the Treasury

Office of Multilateral Development Banks

Washington, D.C. 20220

Via facsimile; 202-622-1228
Dear Elizabeth:

As 2 follow up to our meetings held earlier this week Deputy Secretary Schuerch and
yourself, I am enclosing the names of companies selected by the Bangladesh Power
Development Board to submit proposals for short-term, emergency power projects:

Enron International

Ogden (partnered with local firm Unique Group)
Cambridge Bangladesh Limited

United Summit Power Company Ltd.

SAR consultants International

R. Industries Limited (w/ Zenco)

David Howe, who spoke at the meeting and who is the Enron point person for projects in
Bangladesh, commented that, with the exception of Ogden, the firms were little known,

with most having little substance behind them; thus, they would need to find credible
companies to partner with in order to execute.

Should you have any further questions, feel free to call. I will plan to call you on

Thursday, July 8 to get an update on what, if anything, has occurred as a result of our
meetings. Thank you again for your participation with this matter.

Sincerely,

Scott Reblitz

Natural gas. Electricity, Endless possibilities."
TOTAL P.21

00500000000937


{(6)(4)]

00500000000444


e202 og ‘UOIBUIYse yy
MN ‘enuany ey Ofte wooy
Ainsea, 1") Wwewyedag st

WENO Ineg erarouoyy oes

00100000000576


[OUTSIDE SCOPE , (b)(5)]

00500000002404


Page | of 4

Jaskowiak, Mark
From: Robertson, Linda [Linda.Robertson@enron.com}
Sent: Monday, December 17, 2001 4:43 PM

To: Mark. Jaskowiak@do treas.gov
Subject: RE: Enron admits.

Very funny, | had not seen it. But | cannot wait to see all my buddies on Thursday, XOXOXO Linda

-——-Original Message—---

From: Mark,Jaskowiak@do.treas.gov [mailto:Mark.Jaskowiak@do.treas.gov]
Sent: Monday, December 17, 2001 4:36 PM

To: Robertson, Linda

Subject: FW: Enron admits...

With sincere apologies if this is exactly what you don't need right now, some comic relief if it
helps at all and you haven't seen yet,

See you Thursday?

ENRON ADMITS IT'S REALLY ARGENTINA
Now Massive Ineptitude, Corruption Make More Sense,
Analysts Say

Houston, Texas (SatireWire.com) - Collapsed due to
gross
mismanagement and insurmountable debt, energy company Enron today
confessed
to what many observers had long suspected: it is actually Argentina.

note the o
<http://www. satirewire.com/news/O111/images/enron.gif
<http://www. atirewire.com/news/0111/images/enron.gif> >

Congressional leaders, who have ealied for an
investigation into the
biggest corporate failure in U.S. history
<http://dailynews. yahoo. com/h/ap/20011130/bs/enron_44. html
<http://dailynews. yahoo. com/h/ap/20011130/bs/enron_44,html> >

immediately

dismissed Enron's claim, but Argentinians weren’t so sure. "The shady
deals.

The crazy debt. I knew there was something familiar about those guys,"
said

Banco del Argentina director Ernesto Caballo.

Enron chairman and CEO Kenneth Lay, speaking through an
interpreter
via phone from Buenos Aires, apologized for any confusion the
subterfuge may
have caused, and noted that as a sovereign nation, the company was
immune
from U.S. prosecution. Lay also insisted that he had not “fled” to
Argentina, but had returned home to the capital to visit "mi familia.”

01/22/2002

00500000000516


Stewart, Elizabeth K.

—_— —— — -

Soot earcen January 23, 2001 10:31 AM
A mi a

To: Stewart, ilzabeth i.

Subject: RE: India/Dabho! Meeting

Sure not a problem - Have you received any of the background material from Gene? If not, | can forward these to you,

—Original Message—~

From: Stewart, Elizabeth K.

Sent: ‘Tuesday, January 23, 2001 10:29 AM

To: Rao, Geetha

‘Subject: India/Dabhol Meeting

Quota - Gene suggseted fat join tis moet . I have been involved in other Enron power concession issues.
Hope this will be ok. Thanks.

00500000001542


{(b)(4)}

00500000000447


Christopulos, Greg

From: Christopulos, Greg
Sent: Thursday, December 13, 2001 2:21 PM
To: Epstein, Natan; Sills, Gay; Sampiiner, Gary, Resnick, Bonnie; Demopulos, Abigail;

Stoniewsky, Katerina; BruceJ@IADB.org; TCrawford@WordBank.org
Ce; Neil Efird (E-mail); ‘ThompsonSH@Ssatate.gov'
Subject: Enron Investment Dispute in Argentina

Below is the ITI write up of an ongoing investment dispute in Argentina for the weekly. [(b)(5)}

Since this dispute is
being submitted to ICSID for resolution through int! arbitration, it currently does not raise issues under the
Helms Amendment.

{((b)(5)]

ENRON INVESTMENT DISPUTE IN ARGENTINA

© On Dec, 12, the Azurix President and CEO briefed Investment Office and General Counsel representatives
on the status of Azurix's problems in Argentina. Azurix is an Enron subsidiary that operates water works
companies, The meeting focused on the half billion dollar investment dispute that Azurix has with the
Province of Buenos Aires regarding the company’s concession to provide potable water and wastewater
services.

* According to Azurix, the Province has failed to fulfill several of its obligations and, in particular, Buenos
Aires has failed to deliver infrastructure works such as algae removal, and has not allowed the company to
charge at the rates provided in the contract, On Jan. 11, 2001 Azurix Corp. delivered a notice of dispute to
Governor Ruckauf as well as to the federal government regarding breaches of contractual obligations and
filed for arbitration with ICSID (the Intemational Centre for the Settlement of Investment Disputes). An
arbitration panel is now being selected. ©

* Azurix also requested consultations as provided for under the GOA-USG Bilateral Investment Treaty (BIT).
However, no progress has been made and Azurix is proceeding with termination of the contract by January
2, 2002, Azumix wants to work with the Province of Bucnos Aires so that there will be a smooth transition to
address any public health concerns, The Province recently notified Azurix that it does not recognize the
termination notification.

© Azurix alleges that its expenses exceed the revenues it collects from customers by $1-2 million per month,
that it is caught between the federal and provincial governments, and that the GOA is stalling due to Enron's
announced bankruptcy. However, Azurix assures us that it is not covered by the bankruptcy and even if it
were, the GOA and the Province of Buenos Aires would still have a responsibility to fulfill their obligations
under the Azurix contract and the BIT.

¢ Azurix wants the USG to facilitate meetings with Provincial Governor Ruckauf and to support the U.S.
1

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[OUTSIDE SCOPE , (b)(5)}

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“gComo?," Lay replied. *No hablo Ingles."

Recently ranked as high as No. 7 on the Fortune 500 list of the largest
U.S. companies, Enron literally ran itself into the ground by fudging
ite books, making secretive deals that enriched company insiders, and
relying too heavily on debt. Though it was formed in 1986 with the
merger of Houston Natural Gas and InterNorth, Enron became Argentina
only recently, said Lay, “on the advice of our attorneys."

That counsel came none too soon. As a South American state, all pending
U.S, and Bvropean lawsuits are rendered harmless. And the company
escapes what had been a daily fusillade of scorn from its former home.

Indeed, much as the French were baffled by America's obsession with
President Clinton's sexual affairs, many South Americans say they don’t
understand why Enron and its leaders have been vilified. As former
Colombian President Ernesto Samper explained: “In the United States,
you look at corruption as an abomination We look at it as an art."

EXTRADITION DENTED

The U.S. State Department has refused to recognize Enron as Argentina,
and a spokeeman said the Bush administration has officially requested
the extradition of Lay and the officers who allegedly fled with him.
Argentina, however, denied the request, explaining that an entire
country cannot be extradited. And besides, they added, Lay had pledged
to help pay off the nation's $132 billion debt.

Asked where the bankrupt Enron got such a sum, Lay explained that after
proclaiming its nationhood status, the company had received an
emergency IMF loan. An IMF spokesman later confirmed the payment.

“Prom what we knew of their fiduciary practices, Enron appeared to have
all the hallmarks of a typical IMP fundee,* IMP communications
director Nestor Svingen. "At first, we did balk when they asked for
$232 billion, but when they explained that some of the money would go
to repay overdue IMF loans, we thought, ‘Oh, that's all right then.'*

“Not that we actually expect to see any money from anyone," Svingen
added, "It's just this little game we all play. Great fun if you like
numbers. Do you enjoy quadratic equations? I could do them all day.”

Asked what Enron/Argentina had pledged to do with the extra $100
billion it requested, Svingen said the application had specified
funding for "civic infrastructure improvements."

“That usually means the president is going to build # palace," Svingen
explained.

“ 01486

01200000000140


John L. Garrison
Pravdear and

vw.
Azurix Bene
AS Clay Servet, Suite 1000
Howson, TX 77002-7361

Fas F1S-AEISTT
January 7, 2002 oqemetBemnecm

Ms. Gay Hartwell Sills

Director

Office of international Investment
Department of Treasury
Washington, OC

Via Fax: (202) 622-0391

Dear Gay:

The purpose of this letter is to request an appointment with you on either January
44 or 15 to brief you on fast-breaking developments in Azurix's half a billion dollar
investment dispute with the Republic of Argentina, arising out of our concession
with the Province of Buenos Ares. | plan to be in Buenos Aires later this week to
pursue the matters that | shared with you in my letter of January 3. Keith Miceli
will call your office to see if there is @ convenient time in your hectic schedule for
2 brief meeting.

Hoping to see you next week, with best personal regards,

Very truly yours,

ZO'd 2f:0T 2002 & URL BLL SOE 12; 84 4d UNOLLNGSINI

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