IN: Invitations have been mailed to all VP's and above for the annual Enron Management Conference to be held at the Hyatt Hill Country in San Antonio November 15-17. Hopefully, you have received your invitation (more to save the date than to provide any detail at this point). If you have not received your invitation, please let me know.

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OUT: Enron Management Conference

IN: We now have a computer set up so you can view the TradeSpark website. It is located in a cubicle across from the C-1 conference room (on the side opposite of me, at EB3858D). Since it has taken us so long to get access into this website, it is critical that each of you review your products descriptions of the website AS SOON AS POSSIBLE. Can you each please confirm to me that you have completed your review and if you have any issues with the product descriptions please pass them on to Sheri Thomas with EnronOnline. If for any reason you continue to have computer problems, please call Jason, our floor computer tech, ASAP. Thanks for your prompt attention to this!

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OUT: Tradespark PC

IN: Please see the attachment for a specific definition of ELIGIBLE SWAP PARTICIPANT and the TRADE OPTION EXEMPTION. From a legal perspective and to avoid scrutiny and regulation by the Commodity Futures Trading Commission, ENA must always comply with the Trade Option Exemption when entering into options (as buyer or seller) with a third party. Some of ENA's trading parties cannot satisfy this exemption from regulation because they are not a producer/merchant handling the underlying commodity (such as banks, hedge funds, etc) even though they may be entering into the transaction for business purposes. If that situation occurs, ENA MUST ALWAYS BE THE OFFEREE OF THE OPTION (as buyer or seller) and ENA cannot solicit the party to enter into the transaction. If ENA's trading partner fails to satisfy the Trade Option Exemption, our confirmation will EXPLICITLY state that ENA was offered the option to buy or sell by the counterparty. Please call me if you have any questions. Thanks. Sara [ENA legal]

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OUT: "financial options" (derivatives) and the Trade Option Exemption

IN: Bruce, Just a reminder, this Wednesday (Dec 13) is the Associate PRC meeting in which Sally will be representing Cheryl Ingstad. She really needs your input in order to properly represent Cheryl. Please email information to her ASAP or call Sally with information Tuesday between 9:00 - 9:30 AM (3:00 - 3:30 PM London time). Thanks for your assistance,

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OUT:
Info on Cheryl Ingstad