Subject: "READ THIS NOW RE MASTER NETTING".

Body: There exists another receivable financing covering power receivables structured at the corporate level. I am working with Trey Cash and Melinda Winn to extract the receivables to enable the master netting agreements to be executed. For now, please touch base with me prior to initialing any master netting that includes power. Please note we are still working on the extraction from the gas receivables as well.

Subject: "Arco Heads Up".

Body: Group, Just wanted to give you a heads up on Arco. They have been in a maintenance outage for the past 3 weeks, and they might come back up sometime Tuesday evening (10/23) or Wednesday morning (10/24). If they do, they will have approximately 26mw to sell into the market, in SP15. Thanks,

Subject: "Saturday".

Body: Is this the correct email address?? How are ya? Good seeing you on Thanksgiving at John's. I am very sorry to hear about your company's troubles and your romantic situation. Life piles on sometimes!! Chin up!! Hope to see you during the holidays! Bye! !

Subject: "General Alarm---Enron Metals Recycling".

Body:
A "Doorstep" inspection of this business was performed in accordance with our procedures and apparently this business is a disaster!!! We need immediate action on this up to and including shutting it down. This was the worst we have seen at Enron and I don't even want to put in this email what I heard was going on there. We need a coordinated solution here asap to avoid a real disaster, if there isn't one already. I'll speak with Rick Causey here about what immediate action we should take but the more you guys can dig into this the better. More to come. Rick