This is the content of an email: Have we gotten started on this one yet? I have done all the due diligence on contracts gtys, etc. I actually provided Carol with a binder a few months ago with all the back up. I probably want to change the collateral thresholds. Let's discuss this morning when you have a moment. Thanks!

Subject: Williams MNA

This is the content of an email: Mr. Lay, I wrote you a few days ago concerned about the news articles describing the amount of money passing to top management during Enron's crisis. This morning I received an e-mail that states you are going to forgo the payment under the Change of Control Provision which amounted to between $60 to $80 million depending on which article you read. I want to commend you on this decision which most likely would not have been made by a lesser man. Your credibility and your personal integrity have both gone up a notch in my estimation. Thank you,

Subject: CHANGE OF CONTROL PROVISION

This is the content of an email: Paul, thanks for the note. Please clarify the following for me: break out 2001 property premiums ($3M) for each major ENA asset ie) peaker, the ponderosa facility, LV Cogen and HPL/Hanover assets et al. Wes, can you confirm for me that no insurance costs are embedded in the teams 2001 plans. Regards

Subject: Insurance Costs

This is the content of an email: See the attached. The proceeding certainly isn't over, but I think the parties have done a great job of submitting a settlement that the Commission will eventually approve, provided the parties present sufficient evidence to support such a decision. (Unfortunately, we expect the settlement to be protested.) Direct testimony is due May 5. To streamline things, the parties are going to consolidate efforts and have divided up the testimony by topic. Of course Transwestern got the Hector Road issue. I plan to put Mr. Fawcett on as a witness. Our issue is not particularly controversial anymore, so I do not anticipate rigorous cross-examination; nevertheless, I will probably ask your assistance in preparing the witness for the hearing, which begins May 30.
Subject: GIR settlement update