Here is an email: Ken and Greg I am part of the Enron Tax Department, assigned currently to Enron Global Assets, previously to Enron India. Your comment regarding the very bad investments Enron made in international assets is absolutely true. Perhaps the assets themselves are not all that bad, Enron just over-paid, over-built or over-leveraged. In some cases, I suspect we did all three! But that's not the point of this message. When you make statements like you did in yesterday's Investor conference call it erodes EGA's ability to sell those assets (who wants to buy a very bad investment ?) and chokes the spirit of the employees who have remained loyal to Enron and continue to support the needs of EGA. The 100 or so members in the EGA support group did not make the bad decisions. Those were made by former and current executives, RAC, Enron's Board of Directors, and others who were well-qualified to make such decisions. I cannot begin to tell you how hard Tax, Legal, Accounting, PR, etc. worked to make the best of what often-times looked to us to be a stupid if not bad investment. Many of those who remain have devoted several years to Enron's international experiment. We've given up dinner with our families, weekend soccer games and campouts, in many cases we have even sacrificed our good health. I suspect we will continue to make those sacrifices in order to close asset sales and efficiently return to Enron the remaining value. Please, when you proclaim to the World the very bad investments Enron made, take some time to remind those of us who are left to unwind these investments that Enron is fortunate to have some very bright and dedicated employees diligently working to contain the damage already done. Sincerely,
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A: ... we definitely made some very bad investments ...
Q: More questions: We have two different levels of guarantee values. We have the specific performance levels, which if not met can result in termination, etc. This includes emissions, electrical output, heat rate, water (consumption and discharge). Will all of these have more stringent guaranteed levels that FCE will have to work to try to fix? I'm assuming there are no sound issues. Thanks again,
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A: FuelCell peformance levels
IN: Chris, sounds good - a) Wes will work with you on earnings recognition issues for Pastoria and b) selling the LM's and the LV Cogen asset is a good call regardless of the hit. Some accounting flexibility on the LV hit may be worthwhile. Value protected counts just as much as new value created - you are doing the right thing. Regards

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OUT: Update on Pastoria and Las Vegas Sale
IN: This is an email
As I mentioned below, we now have 17,000 dth of Z3 to Z4 space for August on k#.7537. Other Items ICTS k#1.8973 we have a discount through Sep 30, 2000 of $.01 per dth, no min or max volume and no fuel. Receipt Delivery CGAS - Young Womens CNG-Leidy Nat Fuel - Leidy. Effective 8/1/2000 - 9/30/2000, we have a baseload supply of 1,000 dth per day from CGAS - Young Women's, this is production gas on CGAS that will only flow to Young Women's during this time frame. Also, Scott Hendrickson purchased 2,300 dth per day from Virginia Power at Young Women's. We can use the ICTS contract for this gas as well. Total Receipts at Young Women's for August is 3,300 dth.

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OUT: Trco Space for August - update
QUESTION: Attached for your approval is the form of Enron Corp. Guaranty in favor of= =20 the referenced Counterparty, which guarantees the obligations of ENA under= =20 an ISDA Master Agreement. This Counterparty is an affiliate of the utilit= y=20 for the Province of Quebec, Hydro-Quebec. We will need the standard execut= ed=20 copy. Per my voicemail, we will need the executed guaranty by Tuesday, October 2= 4,=20 2000. Please let me know if this presents any problem. In addition, we will need the following closing documents: (i) Certificat= e=20 of Incumbency, (ii) certified board resolutions of the Policy for Approval = of=20 Guarantees (=01&Policy=018), (iii) certificate by the Treasurer or other au= thorized=20 officer certifying coverage of the Guaranty under the Policy, and (iv)=20 certified copy of Enron Corp.=01,s articles of incorporation and bylaws. Upon approval and execution, please call me at x33399 to pick up the=20 documents. Thank you for your assistance in this matter.
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ANS: HQ Energy Services (U.S.) Inc. Guaranty
IN: John Arnold wants this counterparty opened ASAP for financial. We didn't have any financial statements from them when they originally came thru, so we couldn't determine their ESP status, but we're OK now, so if you could open them for financial ASAP. Thanks.

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OUT:
RUSH APPR0VAL-Salomon Smith Barney AAA Energy Fund