This is the content of an email: Our mid year PRC meeting will be held Monday, June 19, at the Doubletree's Grainger "B" room. Please plan to be there to start the meeting at 8:00 AM, with a continental breakfast available starting at 7:30. We will take the time necessary to do a good job, but will also try to be time efficient. Patti has lunch and snacks ordered, so I would hope to be finished sometime in the afternoon. I am broadening the Energy Operations PRC committee beyond my direct reports to also include all directors in the organization. I look forward to everyone's participation and will be sending out more information later. Included below are the attendees for the meeting. PRC Attendees Energy Operations HR Outside Kristin Albrecht Sheila Walton Wes Colwell - Business Analysis & Reporting Scott Earnest Norma Villarreal David Oxley - Human Resources Sheila Glover Hector McLoughlin Jim Bouillion - Global Risk Markets (Insurance) Todd Hall Toni Graham Brad Blesie - Global Risk Markets (Origination) Susan Harrison Janet De La Paz (to run computer) Peggy Hedstrom Brenda Herod Steve Jackson Scott Mills Mike Moscoso Eugenio Perez Brent Price Leslie Reeves Stephen Schwarz James Scribner Mary Solmonson Bob Superty Sheri Thomas Steve Venturatos

Subject: Mid Year Energy Operations PRC Meeting

This is the content of an email: The east and west power desks are creating slightly different floating price language for some of the power pools. The west desk wants "negative prices" to be averaged in as "zeroes"; the east desk wants to average in all prices "positive or negative". I'm inclined to let the traders do as they wish. I can't seem to get an explanation for the difference in approach (in each instance ENA may take either side of the deal). The confirm desk will have to pay attention to the source of the confirms to use the correct pricing language. I don't know if this will create an on-line trading issue. What do you think? Sara

Subject: Financial Power - "Negative Pricing"

This is the content of an email: I left a message with both Clement Abrams and his paralegal, Carol Essig, about the information you are requesting. I told them you needed an immediate response. If you don't hear from them within the next 1/2 hour let me know.

Subject: Your Voicemail

This is the content of an email: A number of you have had a lot of concern about Deferred Compensation that Enron has ceased to pay as a result of the bankruptcy. Maybe we have some good news -- there is a "rumor" out today, in the event you have not heard, from a reliable source, that the Deferred Compensation creditors have moved up from 4th place to a little higher because of the amount of money involved. I have heard that Mike Moran has been placed on the "Creditors Committee." I believe that Mike Moran and Dan Ryser were working together. Part of the rumor indicates that the largest creditors -- primarily the banks -- may buy out the Deferred Compensation creditors "to avoid having to deal with them." That is about all that I have heard at this time, except that the "buyout" may not be 100%.
Subject: Deferred Compensation