Subject: "Analyst & Associate Program - Business School Loan Program (Western Hemisphere)".

Body: Attached is a short memo and summary outlining changes to the Business School Loan Program for the Western Hemisphere. As many of you know, over the past couple of months we have taken a hard look at our approach to business school loans. The updated guidelines better serve Enron's business interests, eliminate credit exposure for the company, and potentially broaden the reach of the Loan Program. If you have any questions, please contact Ted Bland (x35275) who leads Career Development for the Program. Billy

Subject: "Pipeline List".

Body: Larry, Thanks for your time earlier today. I have attached the pipeline list - would appreciate your guidance on the liquidity, volatility and how we can best hedge our gas positions for these pipelines. Regards,

Subject: "results of football pool".

Body: Hello Everyone, This weekend saw more tough games to pick, both in college and the pros. Among the games missed by many people were, in college games, Michigan/Michigan St.; Stanford/Washington; UCLA/Washington St.; Illinois/Purdue; and Texas A&M/TexasTech. In the pros, Baltimore/Pittsburgh was not a good game for most people, Seattle/Washington was a bad one and NY/Jets/New Orleans was missed by most people, while Kansas City/San Diego was not correctly picked by anyone. We had 31 entries this week, making the pot $93. Currently in the lead is Robert Vargas, with only 6 games missed. No one else had 6 wrong, while Carter Ellis was the only one with 7 wrong. Robert picked Denver tonight, while Carter picked Oakland. Therefore, if Denver wins, Robert will win outright; if Oakland wins, then it will come down to the total points scored. Robert chose 49, while Carter choose 30. Therefore, if Oakland wins and there is 40 or more points, then Robert will win, 39 or less with Oakland, then Carter will win. Here are the number of games each person missed this week. Andy Robert Vargas 6 Carter Ellis 7 Joe Step 8 Rick Broussard 8 Thomas Lowell 8 Russell Ballato 8 Daniel Muschar 8 Larry Campbell 8 Diana Allen 9 Reagan Mathews 9 Todd DeCook 9 Michele Wilks 9 Gautam Gupta 9 Jason Kaniss 9 Valerie Ramsower 9 Ryan Williams 9 Andy Pace 9 Joe Quenet 9 Bryce Schneider 9 Rob Benson 10 Kayne Coulter 10 Tom Chapman 10 Pat Hanse 10 Larry Jester 10 Ashish Mahajan 10 Paul Broderick 10 Jacob Shupe 10 Dave Ryan 11 Daniel Jenkins 11 Jaime Gualy 11 Dean Laurent 11

Subject: "MISO Registration".

Body:
The last I heard, the MISO is supposed to begin offering service on their OASIS tomorrow for service starting January 1. I wanted to let all of you know a bit about where we stand with regards to that process. I have been working with several different folks here and at the MISO to ensure that we are ready to do business with the MISO and request service. The MISO OASIS seems to be accepting our Tradewave Certs, so we just need to get our MISO login for their systems. Today, the MISO will be sending out logins to their systems via FedEx, and should arrive prior to 10am. Christi Nicolay will be receiving this information and distributing it as soon as it arrives. Unfortunately, the MISO has been (as you probably know) cutting things closer and closer to the edge. This login was supposed to be delivered a couple weeks ago, but they have just gotten around to sending it out. Hopefully, we will not have any problems with it once it arrives. As I understand it, there should be only one login set up for "EPMI 24-Hour Operations," with a login of "Enron." The password is currently only known by the MISO, but should be contained in the letter we receive tomorrow. This login is a temporary one until we complete our final registration. This final registration has been a bit more of a pain, as it has involved contractual agreements and credit obligations. I am still working with our Legal, Credit, and AP folks to get everything set up. Again, the MISO sent the final documents out fairly recently, and we have not had a great amount of time to review, analyze, and negotiate their terms. Hopefully, we will have come to agreement with MISO about those items, and be able to file that final application soon. If you have any questions or concerns, you can reach me at my desk (X53771) or via my cellular (713-927-4680). Obviously, you can also call Christi (X37007) or Susan Lindberg (X30596) as well.