Subject: Organizational Announcement

Please distribute the following message to all of Enron Wholesale Services= =20 this evening.
Please use the Enron Global Markets - Office of the Chairman= =20 letterhead.
Please send a copy of the message to Cathy Phillips (X-36898)= =20 for review prior to the message being distributed.
Thank you.
Enron Global Markets ended the year with a great deal of momentum and with= =20 very high expectations for 2001.
In order to better focus and expand the= =20 various businesses within Global Markets, we are pleased to announce the=20 following organizational changes.
Crude and Products This group is being re-organized into product lines in order to better focu= s=20 and maximize coverage and increase our market-making abilities.
The=20 following individuals leading these groups report directly to John Nowlan.
Global Crude Oil Don Schroeder and Bill White will manage our global crude oil books.
Don= =01,s=20 emphasis will be on the development and expansion of our physical crude=20 positions both domestically and abroad.
Bill will manage the various=20 financial crude positions globally and will focus on developing these books= .
Distillate Chris Mahoney will have responsibility of all distillate positions.
Chris= =20 will focus on developing our global distillate strategy, building the=20 business both physically and financially.
Global Fuel Oil Niamh Clarke will expand her role managing our global fuel oil and resid=20 positions.
Emphasis will be placed on re-establishing Enron in the financi= al=20 fuel market in the US and developing a physical fuel strategy.
Global Gasoline and Components Jim Goughary will assume responsibility for our global gasoline and=20 components business.
Following up on our expansion into the European marke= t=20 in 2000, we look forward to Jim expanding our presence in the US as well as= =20 Asian Markets.
Global LPG Erik Hansen and Adam Gross will be responsible for the development and=20 execution of our global LPG trading and strategy.
Under their guidance we= =20 look to expand our presence into the Asian Pacific markets, as well as=20 continuing to grow our US and European operations.
Petrochemical and Plastics Stuart Bland and Douglas Friedman will be responsible for the continued=20 development and growth of our petrochemical and plastics business.
They wi= ll=20 work to further expand both our physical and financial presence in these=20 markets.
Fuel Management Doug Leach will continue in his role developing our fuel management busines= s=20 as well as other long-term structural transactions.=20  Global Origination Randy Maffett has joined the group to lead, develop and grow all global=20 origination activities for the group.
Randy=01,s most recent assignment wa= s in=20 restructuring several equity investments for ENA.
=20  Enron Freight This new group under the leadership of Dan Reck is developing a business in= =20 the inter-modal transportation area in the United States.
Shawn Cumberland= =20 has joined this group to lead and expand the origination opportunities in= =20 this business.
Shawn=01,s most recent assignment was as COO of the CALME r= egion.
Global Risk Management Jere Overdyke has elected to leave Enron after almost 10 years of service.
= =20 Per Sekse will take over the leadership of this very exciting and growing= =20 business.
Per is located in Enron=01,s New York office but will be spendin= g a=20 significant amount of his time in Houston.
We look forward to this year and feel the above changes will provide the=20 focus and momentum we need to deliver a record performance in 2001.
Please congratulate everyone on their new assignments.